- October 20, 2021
- Posted by: Saman Saba
- Category: FSBO
3 Mistakes First-Time FSBO Sellers Often Make
Most homeowners are taking the risk to sell their homes themselves without hiring a real estate agent to help them. It’s a bold move, but most of them are successfully doing it. However, not all For Sale By Owner (FSBO) houses sell because there are some mistakes that can be made by some first-time FSBO sellers.
If you don’t want to take a wrong step, here are the most common mistakes you should watch out for if you are selling your house on your own.
1. Not Prioritising Safety
While this has nothing to do with the house’s market value, it’s crucial to prioritize safety, especially if you are working independently, because you may encounter unwanted theft, incidents, and scams from “buyers.” However, most first-time FSBO sellers don’t realize this, so they just go with the flow without thinking their safety might be in jeopardy.
If you are a first-time FSBO seller yourself, don’t go on the site with the prospective buyer alone. Always bring a friend or two when you show the house to potential buyers to ensure your safety and the safety of items inside your home. Also, make sure to double-check your potential buyer’s identity by asking for their valid IDs. Quickly search them online before you approve of showing them your home. Alternatively, in order to reduce the amount of scammers, always ask for a pre approval letter from a bank and make sure that you contact the lender to confirm that it is a legitimate pre-approval letter.
2. Not Expanding Ways to Market the Property
Unlike a real estate agent who’s aggressive in selling a property, first-time FSBO sellers often settle for a marketing strategy as simple as placing a sign on their lawn. You will most likely get low to no inquiries about your property if you do this since only a few people will know that you are selling your house.
If you are selling a property, you need to use every means available, including online sites, social media, neighborhood groups, and word of mouth, to reach a wider pool of potential buyers. In fact, if you are not posting your property online, you are missing a large pool of buyers since in todays market, just about every buyer is looking online.
3. Using Low-Quality Photos
As just mentioned, the first thing that most homebuyers do is search online for available houses for sale. That said, using high-quality photos is crucial because it will help them appreciate your property even if they are not on the site physically. Consider cleaning your home before the photoshoot and make your lighting excellent to focus on the beauty of your property. Remember that you are highlighting your most valuable assets, so don’t focus your shot on your figurines or other designs of your home.
Once they see a picture of your property online, it can affect whether they will message you to inquire or not. Make sure to post high-quality photos that will entice potential buyers to visit. Also, be sure to take as many pictures as possible as just a handful is not enough to truly pique the interest of prospective buyers. In this case, the more pictures you post, the better!
Conclusion
While it’s not illegal to sell your home yourself, you need to be prepared because you will have to do a lot of paperwork while adhering to legal requirements, which may require a legal consult. You also need to understand that selling your home yourself will not be an easy journey. As much as possible, avoid these mistakes so that you can be successful in selling your home even without a real estate agent.
How Can We Help You?
If you are interested in selling as a For Sale By Owner, you’re in the right place. Get the legal assistance you need to sell your FSBO property. Saman Saba is a real estate attorney in Maryland working to empower real estate sellers and buyers so that they may make better and more informed decisions regarding one of their most important assets: their residential properties.
In an effort to help you successfully sell your property as a For Sale By Owner, we have prepared a FREE FSBO Success Packet which includes:
- A clear explanation of our flat-fee pricing model and exactly which services are included.
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- A complimentary viewing of a 30-minute Masterclass entitled, Home Equity Protection: How To Not Be Bamboozled When Selling which highlights the main ways that home sellers can leave thousands of dollars on the table when selling.
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Click here to access the FREE FSBO Success Packet.
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