FSBO Selling & Low-Ball Offers2 min read
There are some particular things that happen when selling a home by yourself. You will have to be able to deal with them in a professional manner in order to receive the best price for your home and not be taken advantage of. One of the first things that you will have to deal with is the abundance of calls that you will likely receive from local realtors wanting your business. They will tell you that they can sell your home quickly and for more money, but of course, there is a commission attached to this so it’s in their best interest to get your business. However, if you have planned properly for your sale and have done the necessary market research and are confidant that you can sell your home yourself and save the commission fees then stick to your guns!
Another thing that you may have to deal with is low-ball offers from buyers who think they can get a reduced price simply because you aren’t being represented by an agent. As agents are usually experienced at negotiating, people expect to pay more and have more trouble with getting a lower price. If you have priced your home properly then there should be no need to cut your price down, buyers should realize the value of your home and be willing to meet your price. Be ready for people making low offers in an attempt to find out what your bottom line is. If you receive an offer that is too low for your liking, make a counter-offer that is acceptable to you. Whatever you do, don’t be desperate to move the property. In all likelihood the buyer’s agent will identify this quickly and you will end up losing money in the end.
Don’t sell yourself short in this process, and never settle for an offer that is less than you know the home to be worth. FSBO selling is tricky and there are people out there who will prey on uneducated FSBO sellers. Make sure that you are not one of them.