1. The home is priced incorrectly.
While there are many online services that will all give you a number, these estimates are often highly inaccurate. When used as the basis for the asking price, this can result in the seller forfeiting thousands of dollars by underpricing their home. Alternatively, the home goes unsold altogether, due to an unrealistically high asking price.
2. The property doesn’t show well.
Having lived in their own home for years, sellers grow blind to the kinks that will turn prospective buyers off. A real estate professional knows how to stage a home for maximum appeal, making it more marketable and adding thousands to the sale price.
3. Marketing a home is not as easy as it seems.
The right buyers will not find your home unless it’s put in front of them. As most FSBO sellers will experience first-hand, marketing the home to the relevant buyers takes time, skills and experience.
4. Underestimating the amount of time required
Not only does managing viewings and handling inbound communications take a lot of time, it’s also a source of frustration. The majority of the interest will be from neighbors, investors looking for a great “deal” and realtors who want to list your house, and the whole experience feels like a wild goose-chase.
5. Getting emotional.
The failure to stage and market the home results in low-ball offers. As the seller grows increasingly emotional, the low offers convince him that the offers reflect the true market value of their home.
6. Not understanding what’s negotiable.
If the seller is lucky enough to get a serious offer, he’s not familiar with how to negotiate (nor with all the elements that are in fact negotiable). Having underestimated the difficulty of the process, the frustrated seller bends over to the demands of the buyer, further adding to the downside.
7. Being unfamiliar with the required paperwork.
Few sellers are aware of all of the disclosures, contract clauses and deadlines required for a safe and effective close. Unless they have countless hours to spare or prefer to involve a lawyer, this is best left to a professional.
The good news? It doesn’t have to be this way. With Recadia’s full service flat fee model, you keep more of your home equity, while enjoying the convenience of using a professional realtor.
Find out how Recadia can help you sell your home for more, stress free.