Why FSBO Isn’t the Way to Go When Selling Ooltewah Condos and Homes


Whether for Ooltewah condos or single-family homes, For Sale by Owner (FSBO) sales aren’t near as successful as those sold by real estate agents. In fact, by 2006, the average price for a FSBO home was at least $50,000 less than agent-run sales.

 

Why is that? Are real estate agents just naturally better at it? Although I’d love to say yes, the reality is that there are just some things FSBOs don’t know. Because they don’t know it, they make mistakes. Some of the most common are:

 

  1. Incorrect pricing – The market can only bear so much. By pricing their Ooltewah condos and homes too high, many FSBOs fail to sell. If your home isn’t selling, this may be the reason.

 

  1. Not understanding everything involved – Selling a home, whatever the type, takes a lot of time, energy, ability, effort and know-how. For instance, accessibility is especially important, and a lot of FSBOs can’t be available to show the property when a buyer wants to see it.

 

  1. Screening – You can waste a lot of time on unqualified buyers. You can also lose money by taking an offer that’s lower than it should be. Screening buyers can take a lot of time and effort, especially if you don’t have the experience to spot them.

 

  1. Financing questions – The prospective buyer wants to know theirfinancing options. As a FSBO, you need to be able to answer financing questions and explain their options. To do this, you’ll need to build a network of financial experts.

 

  1. Knowing contracts – You need to be well versed in legal jargon, so you can handle contracts, agreements and disputes. Make sure everything – the negotiations and the agreements – is in writing.

 

These five points are just a few of the things you need to know to sell Ooltewah condos and single-family homes on your own. If you’re not prepared to do it all, hire an agent to do it all for you!

 

If you’re trying to sell your home or condo and need someone who knows the ropes, I can help. Call me today at 423-488-1882 or email me at tclose@realtycenter.com  for more information.

 

Keyword/Tag: Ooltewah FSBO

 

Links:

Pricing

http://realestate.msn.com/article.aspx?cp-documentid=13108482

 

Financing options

http://www.investopedia.com/articles/mortgages-real-estate/08/homebuyer-financing-option.asp?viewed=1

 

Negotiations

http://top7business.com/?id=1139

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