There are certain things that you may want to think twice before taking them on yourself.
For instance, if you had appendicitis, you would want your surgery handled by a professional. After all, doctors are trained to handle that sort of thing and your life isn’t something you want to mess around with.
You may not think that selling your West Knoxville home is a big deal. But, it’s the biggest investment or one of the biggest investments that you probably have. So, it’s not something that you should take lightly. Realtors are licensed and trained in selling homes. They’re there to help you to get the best price possible and protect you from liability.
Here are 3 critical mistakes West Knoxville sellers make when they FSBO.
Pricing It Wrong
The largest and most critical mistake that West Knoxville sellers make is pricing they’re home wrong. This can be an extremely costly mistakes for many sellers. Even if you have some knowledge of the area, you’ll still struggle to set the right price.
Pricing your home wrong from the start can be one of the most costly mistake any seller can make. The longer your home sits on the market overpriced, the more you’ll have to drop the price in order to get a buyer to buy it. Or, even worse, under price your home and risk losing money that you could have gotten if you used a realtor.
Many sellers are guilty of overpricing their home, even with the assistance of an agent. With so many emotions involved, sellers often tend to think they’re home is worth more than it actually is. When this happens, sellers put a hefty price tag on their home from the start. Many FSBO sellers don’t understand that just because you put $20K into the kitchen, that doesn’t automatically mean you get to add $20k to the sales price.
The price matters when you sell your home, so be sure that your hire a professional to do so.
Not Qualifying Buyers
Another critical mistake West Knoxville sellers make when they FSBO is not to properly qualify buyers. Unlike realtors who know that you should qualify buyers before showing them homes, most FSBO sellers don’t think to do this. Without qualifying buyers, you risk wasting your time and money.
With FSBO homes, this is usually how this scenario plays out. A seller gets a call from someone who wants to look at they’re home. Rightfully, a seller gets excited and sets up a time, while gushing about their house. During this conversation, a seller will forget to ask if a buyer has been pre-approved. So, the buyer comes and looks and the seller has no way of knowing whether or not a buyer can afford the house.
If you do get a buyer that gets so far as to write an offer, you may get a rude awakening after being under contract, that they cannot afford the home. That’s days taken off the market and time
Poorly Marketing The Home
Finally, one critical mistake West Knoxville sellers make when they FSBO, is to underestimate the importance of property marketing a home. When you sell your home, you want to get it in front of as many buyers as possible. The more buyers that see your home, the better the chance that you’ll find the right buyer soon.
West Knoxville sellers underestimate often underestimate the type of marketing that needs to be done in order to sell a home. It’s much more than just put a sign in the yard and posting something personal on Facebook. Without a little bit of luck, that’s not going to get in front of the right buyer. It could take months to possibly even sell the home.
In order to sell your home, your home needs to be marketed properly. The pictures need to be taken in the right way that buyers want to see your home, instead of passing it up because of poor photography. Realtors have the resources to make your home look good and they know how to photograph it. That’s more than what most sellers can do with their smart phone.
A realtor will also have a successful marketing plan to get your home sold for as much money in as little time as possible. These are items that are priceless when you sell your home. You don’t want the sale of your home to take forever and you don’t want to get any less than you have to.
Are you thinking about selling your West Knoxville home this year? Please let us know if there is any way that Knoxville Home Team can assist you. Rick can be reached at 865-696-9002 or via email at Rick@KnoxvilleHomeTeam.Com. Kati can be reached at Kati@KnoxvilleHomeTeam.Com.