PMI Real Estate

If you have decided to sell your home, one way to do it is yourself – called For Sale By Owner (FSBO). To sell a home fast is not easy.Unless you are knowledgeable in the real estate field, this option can be a hard and lengthy process. Some hardships that can stall the process areemotions associated with the home, overpricing the house and not being able to get maximum exposure of your house.
Emotions sometimes hit too close to home
When you decide to sell your own home, you will be the one present during open houses and negotiations. Many times potential homebuyers feel awkward when viewing a home if the homeowners are present, which will be the case when you are also acting as the agent. Many buyers may shy away not being able to talk freely with their agents about negatives in the home and price negotiations. They also may feel reluctant to give an offer to the owner who has so much emotion invested in the house. Real Estate agents work as emotional buffers to keep emotions out and business in the forefront.
Overpricing is a common mistake
Of course your house is fabulous! But do you really have an objective view of your home? Looking at comparables in your neighborhood will give you an idea of what homes in the area are worth. However, homeowners tend to feel that their home is worth more than the average house because of the personal connection they have. Because of this, overpricing is a major factor that deters buyers from viewing FSBO homes. A real estate agent, with no emotional connection to the home, can objectively give advice on pricing and how to enhance the homes appeal to potential buyers thus bringing in buyers that are more interested and selling the home quicker.
FSBO’s cannot utilize MLS
When you sell your house yourself, you are at a disadvantage by not being able to list your house on MLS (Multiple Listing Service) since this service is only open to licensed real estate brokers and agents. While you can list in local papers and use a “For Sale” sign in your yard, you lose the advantage of having the maximum exposure that other homes in your area have. This will yield less people looking at your house versus your neighbors.
If you have made the decision to try to sell your house yourself, just be prepared for a slow process. It may be a good idea to give yourself a timeframe and if it doesn’t sell, talk with a real estate investor who can take it off your hands quickly, painlessly and with no out of pocket expenses by you.
About the Author:
Brad Chandler is the owner of Express Homebuyers and blogs about a wide range of home selling topics. He realizes that to sell a home fast is not easy.You can also follow Express Homebuyers on Facebook.