Six For Sale By Owner Obstacles

By Mark Spain Real Estate

While listing For Sale By Owner is a tempting option for families wanting to sell their home, obstacles can prevent homeowners from successfully selling their homes. Mark Spain Real Estate was founded on the principle of putting our clients ahead of transactions. By focussing on our clients’ experience and goals, Mark Spain Real Estate served over 4,500 families in 2019 alone as the most trusted name in residential real estate with over 3,000 5-star reviews. Our clients avoided the following six pitfalls that contribute to only one in ten For Sale By Owner transactions being successful.

Looking to sell your home? Mark Spain Real Estate sells our clients’ homes faster and for more!

1.  Incorrectly Pricing Your Home

Incorrectly pricing your home is the easiest mistake to prevent selling your home quickly for market value. Pricing your home too high will limit the number of potential buyers who see your home, resulting in fewer competitive offers. This is a mistake many homeowners make because of their personal attachment and not receiving a competitive market analysis from a Realtor.

On the other hand, pricing your home too low will indicate to buyers that something may be wrong with your property. Pricing fairly is the quickest way to sell your home.  Having a Realtor represent you will ensure you are considering all the variables involved in determining the fair market value.

2. Preparing Your Home

Mark Spain Real Estate’s agents know what potential buyers notice when looking for a new home. Buying a home is one of the largest decisions an individual will make, and potential buyers do their research before making an offer! While there are details many For Sale By Owners homeowners overlook, sellers can just as easily make improvements in their homes prior to selling that they will not realize a return on.

Mark Spain Real Estate provides our clients with a guide on how to prepare your home to sell before listing their home to ensure our clients are putting their best foot forward.

3. Time

Selling a home takes time, and we are not talking about days on market! Making yourself available for showings can be difficult with careers, families, and other commitments. By not having the time to devote to selling a home, homes sit on the market longer than they would if a licensed Realtor was actively selling the home. This can indicate to a potential buyer there may be a problem with the home itself.

Mark Spain Real Estate has become the most trusted name in residential real estate by putting our clients’ needs first. Our Realtors are committed to selling your home quickly!

4. Marketing Experience

For Sale By Owner homeowners undervalue the power of the multiple listing service (MLS) in their area. By having your home listed on the MLS, every licensed real estate agent will see your home.

Additionally, most potential home buyers begin their search for a new home online, and listing your home on the MLS is necessary to have your home listed on the many online resources buyers use when beginning their home search.

Mark Spain Real Estate also drives more traffic to your home through marketing on billboards, radio, tv, and digital media. Ask our Realtor to share more about how we market your home!

5. Managing Potential Buyers (and Their Agents)

Selling your home is a complicated transaction. Many homeowners aren’t familiar with the specific order of events that must occur to successfully sell their home. From negotiations to ensuring the buyer is putting down the right amount of earnest money, having a Realtor keep their clients’ goals the top priority throughout the transaction is important.

In addition to Mark Spain Real Estate’s agents providing our clients with an unparalleled client experience, our Client Concierge team is dedicated to serving our clients throughout the transaction.

6. Net Profit

Many homeowners sell their home For Sale By Owner to avoid paying a Realtor to represent them. This can end up costing the homeowner much more than the commission they would have paid their agent!

On average, homes sold by agents sell for 24% more than homes sold by the owner. On a $250,000 home, that would result in $60,000 less than had the homeowner listed with a Realtor. After paying a licensed agent to represent you, the homeowner would earn $45,000 more profit.

Are you ready to sell your home and avoid the obstacles listing your home For Sale By Owner can cause? We are eager to serve you in selling your home today!

 

 

Sources:
National Association of Realtors
Inman