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5 FSBO Mistakes to Avoid

Planning on selling your home on your own?

Make sure you don't fall for one of these common pitfalls.

When selling a home, sometimes things go relatively smoothly and easy, and othertimes things can get a little chaotic!

You see, when you’re dealing with other people, they bring their own motives and ways of doing things to the table, sometimes there are misinterpretation.  Especially when dealing with strangers. Yes, sometimes common sense is simple enough, and other times common sense is not so common.

Here are five of the most common mistakes FSBO’s make and how to avoid them.

Mistake #1) Only Advertising on Zillow  

It’s on Zillow so everyone will see it”

Yes, Zillow.com is the most widely visited real estate website, with 36 million unique view per month, it must feel like “Everybody uses Zillow.”  

Think again, being the largest website doesn't mean it's the ONLY site buyers use when searching.  

In fact as a percentage of all traffic Zillow has 29% of the traffic of the top 15 websites according to http://www.ebizmba.com.

This means there are plenty of other places to advertise your property for sale!

The Solution: Advertise in more sites than just Zillow.  Here is a separate blog on the 10 Best Places to Advertise Your FSBO Listing in 2019!

Mistake #2) How to work with agents.

"No Brokers/Principals Only!”

Talking to real estate agents has to be irritating for many FSBO's.  Unless you figure out how to work with them, not against them.

On one hand agents are calling you to list your home, so I get the frustration that must create.  On the other hand most serious buyers are already working with agents!  

The solution: Pay for a MLS Flat Fee Company.

    1.   You will expose your home to 13,000 agents that sell real estate for a living, if your home is priced right you should get immediate showings from pre-approved buyers that are already working with agents.  
    2.  Once your home is listed on the MLS most agents will stop calling, it is against our code of ethics to solicit homeowners who have their homes listed.
    3.  You are not obligated to accept any offer that you do not like.
    4.  You can still sell the home directly to a buyer, being on the MLS does not mean you must work with an agent, you can continue to market the home directly to buyers.

Mistake #3) Not using a professional photographer 

"I took the photos, it was easy!”

We saw a 30% increase in showings and buyer inquiries when we began using professional photographer a few years ago.  Buyers are extremely visual and photos more than anything are how buyers decide whether they want to view a home or just pass.  Paying for professional photography will increase the amount of showings and traffic to your home. 

Solution: Hire a professional photographer.

Don't know a professional photographer?  We would be glad to refer you who we work with!  

Just text "Photo" to (718) 679-0511 or email [email protected] and we will connect you with ours.

Mistake #4) Announcing to buyers you are selling “As-Is.” 

One of the most damaging phrases a home owner can say is they are selling in “as-is condition.”  The problem with announcing this to potential buyers is that you do not know how the message will be interpreted.  

It sounds like a “take it or leave it” ultimatum.  Negotiating is all about positioning and leverage, and at the beginning of a sale, this phrase just never proves useful.  I have yet to ever see a buyer generate excitement when they hear the home is being sold in “as-is condition.”

Instead they become concerned about what they may discover during the inspection process that they will cause them to worry.  If a buyer worries too much you won't get an offer from them.

Solution: Welcome all offers, no need to tell a buyer what you're not willing to do before you receive an offer.

Mistake #5) Over Pricing

“I’m pricing high because everyone is going to low ball me”

Finally, over pricing a home leads to longer days on market, price reductions and potentially watching your listing go stale.  The most common reason I hear from owners that want to over price their home, is they feel that “all buyers will low ball” so it makes sense to price high to be able to come down.  

This however is faulty logic.  Not all buyers low ball, and if your home is price at fair market value, you will attract a lot more buyers.  In fact, properly priced listings attract multiple offers which often lead to either full asking price sales or sales above the asking price.    

Solution: Study the value of your home and price it correctly to sell.

Need Help? 

Have a Question?

I have sold close to 100 FSBO properties since 2007.

I know what it takes to get properties sold.  

Our Unique Home Selling Process Increase the Equity of Your Home so you can sell it for more money!

Contact me, if you get stuck or have any questions at all!

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