Here are the top 10 reasons that homebuyers tend to avoid listings from “For Sale By Owner” (FSBO) sellers.
Why do homebuyers avoid purchasing homes listed as “For Sale By Owner”? There are 10 primary reasons, which I’ll share with you today.
1. 98% of buyers hire an agent to help them buy a home.
2. Working with an underrepresented seller is more complex than they’d like.
3. If you list on your own, buyers may not even know your home is for sale. They might not have checked Zillow or driven by your yard sign.
4. They don’t want to have to negotiate commission up front. This is an uncomfortable way to start a transaction; if they’re a first-time homebuyer, the prospect may be daunting.
5. Many buyers lack vision.
6. The buyers may perceive something to be wrong with the house.
7. They might think you’re difficult to work with. There’s a beginning and an end to a transaction, and a lot goes on in between. The fear that the seller will be difficult presents quite a challenge for the buyer.
8. Scheduling showings, inspections, and appraisals will be a nightmare for them.
9. Buyers and agents may question the seller’s commitment to the transaction.
10. A buyer’s agent may fear any underlying issues you’re trying to hide (even if you’re not).
With these points in mind, you need a proactive agent who has a proven track record of selling homes and providing agents who know all the buyers. If you’re thinking of selling your home and need an agent to represent you, don’t hesitate to reach out to me.