For many sellers, going for sale by owner can be a great idea. We have sold any homes for sale by owner despite the fact that Jacee is a licensed Realtor. I mean who wants to pay commissions when you do not have to!
What is NOT a great idea is listing your home for sale by owner and doing it wrong. Saving on commissions is great, but not at the consequence of taking longer to sell and selling for less. Let’s discuss the common mistakes we see for sale by owners make throughout Tampa Bay.
So you want to sell your home as-is without fixing anything up? That is perfectly fine, but please realize that this will most certainly result in a lower price. Often when we buy homes as-is that we need to clean out, the owner has been trying for months to sell. By the time they call us, they have been low balled by every “cash buyer” and Realtor with a buyer there is.
Aggressive Pricing Strategy
For sale by owner listings tend to stay on the market longer than listing with Realtors. Many times this is because the for sale by owner seller listed for an unreasonable price. Starting high and negotiating down is a bad strategy that backfires. Buyers will not take the seller seriously and this will result in significantly less calls on the listing.
Not Screening Buyers
Tire kickers are everywhere in Tampa Bay. We seem to constantly deal with sellers who went under contract with a buyer only for the buyer to pull out of the deal last minute. Do not go under contract with the first buyer that gives you a contract! Screen them. Ask for a proof of funds, pre-approval letter, references, or whatever is needed to verify your buyer is the real deal.
If you are considering going for sale by owner, give us a call. It might just be the breath of fresh air you need when you are ready to sell.