Today I want to give you an example of why you should not sell your home for sale by owner.
This is a true story….and a great one for our Buyer Clients, but a horrible one for the sellers of a home that was listed For Sale By Owner.
The seller lost out on $25,000! Yes $25,000.
The home was gorgeous, only a few years old and the sellers added so many nice featrues such a deck and spa and countless other updates, blinds, painted interior etc.
The seller listed their home on Military by Owner site and that is where our buyer agent found it.Fast forward. The buyer agent takes to prospective buyers to the home ( by appointment) and the buyers fell in love.
Imagine the buyer agents surprise when she does the comps and learns that this home is listed at least $25,000 below list price. She could have gone for the juggler, but we are REALTORS we must be fair and equitable to all. ( It’s is how Patty and I roll.) Even though this was a For Sale by Owner situation, someone that had no representation or any clue how or what to do, the buyer agent coached the buyers that if you really want that house, increase the sales price by $15,000 to cover all your closing costs. No one else will do that. In the end they won the bid and proceeded through all the inspections toward settlement.
The seller and buyers were worried the home would not appraise. Imagine the buyers surprise when they learned the home appraised for $10,000. So even though they wnet $15,000 higher than the sellers asking price, in the end they learned that they could get the home they really wanted and have immediate equity as the turn the key to their new home.
Did we have to tell the sellers? No…we do not work for the sellers, we only worked for the buyers in this case.
So the moral of that story is.
Selling For Sale by Owner is not for those who do not know what they are doing. These sellers basically lost out on $25,000. The market was hot when their home was on the market. Yet they did not realize the traffic because they did not have systems in place like Listing Agents do to attract ready and willing buyers to a home.
What do REALTORS do? Well a good savvy Social Media Marketing Real Estate Agent uses Instagram, Facebook, Google+,LinkedIn, Pinterest, Blogs, Networking and Open Houses to attract ready willing and qualified buyers to view your home.
When you are thinking about selling your home you need someone who is going to be working on marketing and selling your full time. Not by appoinment. You want someone who is going to use a professsional photographer, and video to showcase your home.
So please don’t go it alone. A good REALTOR can help you get Top Dollar.
Our goal is always to maximize your equity position.
Need help? Thinking of selling? Give us a call 703-851-3085
Or simply fill out this How Much is my Woodbridge Virginia Home Worth Now form and Peggy will be right with you