Feeling stressed about selling your home? We can help!
Selling your home independently — often referred to as For Sale By Owner, or FSBO — is often a tempting choice for sellers. While it might seem like it could save you thousands of dollars by avoiding commission fees, in reality less than 10% of FSBO sellers are able to successfully sell their home without the help of a real estate agent, according to the National Association of REALTORS®. There is a huge difference in the amount of work you have to put into selling your home when you do it yourself versus hiring a REALTOR®. Read on to find out why you save when you sell with a REALTOR® from XL!
Mistake #1: Not Having Effective Signage
Have you ever driven past by a For Sale By Owner sign in a front yard, only to see that the numbers have been smudged out, and the sign is unremarkable at best? Most FSBO homes have no other choice but to use the signs available in stores, which typically require the number to be written on with marker, and often aren't prepared to withstand adverse weather. If the sign doesn't stand out, the numbers can't be read, and the home isn't advertised on local real estate pages, it's difficult to find potential buyers.
The Fix: Most FSBO sellers find that the best way to attract buyers is by listing their home at a lower price than usual, since that's the main way of attracting interest independently. But if you choose to list your home at a flat fee, you can enjoy access to the MLS — and by doing so, you have a greater chance of reeling in buyers that are searching online.
Mistake #2: Missing Out on a Marketing Plan
A majority of home owners are likely to value their home for more than it's worth, which is completely understandable. It's hard to put a price on the memories and familiarity that comes with owning your home. That's why it can be tough for FSBO sellers to commodify their home on the market.
The real estate market depends largely on supply and demand, so it's critical for you to be aware of what a reasonable price for your home is. You have to make sure you aren't underselling or overselling your property, and having a marketing plan in place can help.
The Fix: Listing your home at a flat-fee will help you take advantage of cutting-edge marketing. Plus, we can help you figure out how to price your home correctly so you aren't missing out!
Mistake #3: Slow Responses to Potential Buyers
Thanks to today's technology, buyers can search for a home online, send a message to owners and realtors, and get replies within minutes. If you're a little slow to answer a query, then you could easily miss out on a selling opportunity.
The Fix: Set up alerts for incoming messages so you can respond to texts, emails, and calls as soon as possible. Choose a unique ringtone so you know when a potential buyer is calling!
Mistake #4: A Messy or Disorganized Home
Did you know that baking cookies before potential buyers tour a home is a popular realty tip? Nothing is more inviting than a warm home that smells like freshly baked sweets. Alternatively, a messy, disorganized home isn't going to impress many potential buyers. Realtors know better than anyone that things like weeds in the front yard, crumbs on the floors, and smudges on the windows are surefire ways to turn off buyers.
The Fix: Sharpen up your home by completing small projects before showings, like mowing the lawns, putting a fresh coat of paints on the walls, mopping and vacuuming the floors, and freshening up the bathrooms.
Mistake #5: Not Negotiating on the Terms
Some FSBO sellers may not be familiar with certain closing terms, like earnest money, possession agreements, and inspection dates. We understand that some aspects of closing out a sale can be confusing, not to mention the negotiations that come along with it. If you choose to sell your home independently, then it's your job to know the ins and outs of the terms and the best times to negotiate.
The Fix: Market your home with XLRealty. Our professionals are well-versed in all aspects of buying and selling homes, from the necessary wordage for negotiating to finding a price in your best interest.
Mistake #6: Forgetting to Disclose Important Info
A form called The Seller's Disclosure is granted to buyers during the selling process, and it makes them aware of any problems, repairs, or defects in and on the grounds of the home. If you forget to include any information in this form — or choose to not include it — the buyers could decide to sue.
The Fix: If you opt to list your home with XL Realty, we can take care of all of the necessary paperwork and negotiations that come along with selling your home.