When should For Sale By Owner sellers jump ship?

Why are FSBOS not selling? Inventory is high and only the strategically marketed homes sell for top dollar – by full service REALTORS!

From the standpoint of the potential BUYER, summer is the best time to buy because of the large inventory to choose from. The BUYER feels they have control over the SELLER due to the surplus of inventory and they think they can low-ball the FSBO SELLER. The FSBO SELLER starts to feel frustrated and the transaction begins to fall apart. This is where hiring a REALTOR can diffuse the situation by helping both parties look at the offer realistically. With research data to backup the SELLERS price stance, BUYERS are more likely to cooperate when they feel a real estate expert can provide accurate comparables to defend the price. This gets the SELLER a higher price!

When a potential BUYER sees a home for sale by owner sign they often think "Oh, this is a SELLER who is trying to get more than the house is worth." Or they think the "SELLERS are not serious and they're just trolling for a high price." This is a true turn-off for BUYERS. I have seen this first hand. When a REALTOR represents a SELLER, the BUYERS feel more confident that they are being treated fairly and are more likely to buy that SELLER’s home.

 

Unfortunately, For Sale By Owner SELLERS often learn the hard way that going it alone is not always the best decision. FSBO sounds great on paper but does it really work in a market where so many BUYERS are trying for 100% financing? There are many hidden pitfalls that SELLERS are not aware of. With the new 2007 Georgia Association of Realtors contracts, SELLERS are more protected than ever and I can guide you through the process every step of the way.