FSBO Seller Resources

The Most Common Mistakes Made By FSBO Sellers

Thinking of going the FSBO route?

It can be tempting to go FSBO, or selling For Sale By Owner, to save thousands of dollars of your hard-earned equity on commission fees. But there is a huge difference between selling your home yourself and hiring a Realtor. According to the National Association of REALTORS, less than 10% of FSBO sellers actually succeed without the help of a real estate agent.

You may think I'm only warning you about FSBO because I'm a real estate agent, but don't just take my word for it. Here are a few concrete reasons to avoid FSBO.

Common FSBO Mistakes

Mistake #1: For Sale By Owner Sign

A go-to sign for many FSBO home sellers is the one that you see in many stores. These signs lack any eye-catching factors and are often not hardy enough to last through the weather.

So how do you stand out? Listing your home for a flat fee with a realtor allows you to take advantage of the MLS — and the buyers who are searching online.

Mistake #2: No Marketing Plan

Sentimental value puts homeowners at a disadvantage when selling, since their fondness can skew the price. But once you put up your FSBO sign, your home becomes a commodity.

The value of your home depends on supply and demand, and you need to market its full value to interested home buyers. After all, there's plenty of competition, even in your own community.

Mistake #3: Slow Response Time

Buyers are shopping for their next home online, and they're quickly sending out emails and calls to multiple properties. If you wait a few days before responding, your potential buyer may find another home.

Whether it's a special ring tone or just leaving your phone on loud, remember to respond as soon as possible to a call or email. You don't want to lose out on a potential buyer!

Mistake #4: A Messy House

Any real estate agent knows that home buyers expect to walk into a clean, decluttered, and well-maintained home. If your yard has weeds or your windows need cleaning, a buyer won't be impressed.

Focus on making inexpensive home improvements that really pay off, like painting the walls a neutral color, polishing door handles, and cleaning baseboards and other surfaces.

Mistake #5: Not Negotiating on Terms

Unlike Realtors, FSBO sellers are not used to negotiating during the real estate transaction, especially about issues such as earnest money, possession agreements, and inspection dates.

If you enlist my help, I'll use my years of real estate marketing experience to help you. I'll review your offers, negotiate the terms, and keep your best interests in mind.

Mistake #6: Not Disclosing Issues

The Seller's Disclosure is given to a buyer to let them know about any problems or defects in the home. If you don't provide this crucial form, you could get sued.

By listing your home with me, I will handle the paperwork and negotiations involved in a home sale. Don't worry about tricky legal issues or confusing jargon — I've got your back.

Are there FSBO Success Stories in Denver?

While you may have heard of FSBO sellers in Denver, NC, you should keep in mind that the average home sold by the owner sells for $210,000, while the average home sold with a real estate agent sells for nearly $250,000.

Most For Sale By Owner sellers want to save money, but if you account for the $40,000 lost on average and the money spent on the FSBO sign, marketing materials, and any attorneys or other professionals you hire to help out, you'll end up losing thousands of dollars in the process.

I Can Help You Sell for More

If you choose to the FSBO route, I truly hope you become one of the successful 10% of FSBO sellers, but whether you succeed or fail, the process is still incredibly challenging and time consuming.

A Realtor always has your best interests in mind, and takes care of all the stressful details — like contracts, real estate market trends, and the confusing jargon — so you don't have to! I would love to touch base with you about how I can help you have a successful selling journey. Give me a call and we can schedule a time to discuss the details.