Do private property sale owners really want to sell their property?

Private house sales and for sale by owner ( FSBO) real estate property sale can be performed with no agent or no commission through the private real estate selling website Privatepoint.

A for sale by owner selling their property privately with no agents should be able to provide an answer to this question within 15 seconds of reading it, if not then the real estate by owner should not be selling their property privately with no agents.

On too many occasions real estate by owners selling privately have not had a specific reason to sell their property resulting in the private house sales process being a complete disaster. This is increasing apparent during times when property prices are on the rise and property owners conducting a no agents sale as a for sale by owner (FSBO) decide to “test the waters” by placing their property on the market and setting an unrealistic listing price.

Below is a list outlining the reasons why a for sale by owner (FSBO) property will not sell if the real estate by owner does not have a clear reason to sell the property;

Unrealistic listing price – For sale by owners (FSBO) will only accept a price which is well above the market value of the property and will not be prepared to move from this unrealistic listing price.

The for sale by owner (FSBO) is unwilling to commit marketing resources – Inadequate money and time spent on the marketing strategy for a private property sale will limit the audience who are informed that the property is on the market.

Lack of property preparation – As the real estate sale by owner is not committed to the sale they will not spend time and money to prepare the property for sale. If a property has not been prepared correctly then this could affect the first impression a potential buyer has when they inspect the property.

Stale listing – This affects many for sale by owners (FSBO) who are conducting a private real estate sale as a listing which has been on the market for an extended period of time will convey a negative image to potential buyers. Buyers will be concerned that there is something wrong with the property or that it is overpriced.

Future Price Reductions – When the for sale by owner (FSBO) does decide they would like to sell the property for a more reasonable price they will need to drop the price more than what the initial market value of the property was. The only way to sell a stale listing is to offer a “bargain” and reduce the listing price below the market value of the property.

If a property owner is conducting a no agents sale or no commission sales and the property is on the market when they are not 100% committed to the sale, can have a dramatic affect on the final price the for sale by owner 9FSBO) sells their property for.