Property 101: Why for sale by property owners fail

Property 101: Why for sale by property owners fail
Property 101: Why for sale by property owners fail

Homeowners trying to sell their homes on their own — for-sale-by-owners (FSBOs) — are courted by emerging disruptive websites.

Most of them want to save money on real estate commissions, rather than because they feel they don’t need a professional to sell their home.

Recent data from a National Association of Realtors survey in the United States shows that less than 10 percent of FSBOs actually sell.

The Inman site listed some of the top reasons why FSBOs fail in real estate.'

1. Owners do not know how to screen potential buyers and fail in the closing process.

2. Owners fail to solve buyer’s queries.

3. Owners don’t understand the concept of ‘golden time’, as according to this concept, homeowners get the most money for their homes shortly after of putting the property on the market. 

4. Owners fail to understand the contract procedures.

5. FSBOs don’t know how to handle the home building inspection findings.

6. FSBOs incorrectly price their homes too high.

7. FSBO homes lack exposure.

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Property News Residential Market

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