HERE ARE 5 PITFALLS OF PRIVATE SELLING!

1. IMPROPER PRICING! - This is the number #1 reason most homes don't sell and most FSBO properties are improperly priced. This is because most sellers only take listing price into consideration, not the actually selling price of comparable properties. Agents know when a home is overpriced, buyers know when a home is overpriced and it scares away both! Most of the time, if you do actually get an offer, it is lower than what you would have got if you had priced it closer to fair market value. People often lowball to try and bring the higher price down, whereas a properly priced home invites offers within 5-10% of asking price.

2. NO EXPOSURE! - When you sell FSBO, no matter what independent service you use, you do not get the full exposure and power of the national MLS and network of local Realtors. Selling FSBO only gives you a small pool of buyers, where the national network of realtors is like fishing in the ocean. A home requires a significant amount of exposure to capture qualified buyers. You have to find people that are looking for your type of home, in your neighborhood, in your price range. Remember.... if buyers can find you, they can't buy from you!

3. LOWER SALE PRICE! - Many people use the strategy of starting high because they want higher offers. The probmen with this, as mentioned above, is overpricing. If you start too high, you will only result in multiple price drops to catch up with the market. If you do actually sell, it will probably be at a price much less than what you would have got if you had priced it accurately or used a Realtor. Statistically, Realtor listings sell at least 10% than FSBO. Considering a 5% commission rate, you're still coming out 5% higher. Thats an extra $10,000 on a $200,000 home. Well worth it!

4. BARGAIN HUNTERS! - Everyone knows that a FSBO property is not paying a commission fee. For this reason, FSBO homes attract many buyers that are only looking for a deal. This type of buyer automically reduces the asking price by 5% before they even consider making an opening offer. They will use this as leverage to get the price down as much as possible. This can be very frustrating and tiring as a seller as negotiating can be very difficult and sometimes insulting. Let a Realtor screen your buyers, negotiate your best price and increase your odds of getting higher offers.

5. NO BUYERS! - Let's face it, most people don't like dealing directly with a seller. Even if a FSBO property is properly priced and promoted, it will still only receive few interested parties. People prefer to have a liason working and negotiating on their behalf. Things can become heated in negotiations when going face to face between buyer and seller. This is the type of situation that most buyers don't want to be involved in. Use a Realtor as a liason to the public and potential buyers.

If you are looking to save a buck, the only $$$ you'll be saving will be the buyers. Remember, Realtors work on a commission basis. That means there is NO COST to you up front. I only get paid if YOU sell your house at a price and conditions that YOU are comfortable with. You have nothing to lose and everything to gain. Contact me below for a FREE consultation on how we can get your home sold - together!