Welcome back to our latest blog series, Beware of the FSBO! Today we introduce you to the heart of why trying to FSBO is not a good idea. Reason number seven requires an extraordinary skillset that takes years to master.
7. Inexperience in Handling Objections
Techniques for handling objections professionally and effectively are the most difficult of all techniques to master in selling. The chances that a homeowner has had any such training and experience is rare.
When major objections of any type are raised, you may not know how to proceed properly. Buyers are certain to raise as many objections as they can, remember, they’re being represented by a REALTOR®, putting you at a serious disadvantage in trying to sell your home.
8. The Urgency Situation
When the time in which a home must be sold is limited, it is most unwise for an owner to take any of that time to try to sell the home without the aid of an agent. If your attempt fails, chances are that you haven’t left your REALTOR® enough time to market your home properly to get it sold in the timeframe needed.
9. Problems with Financing
Even though the buyer is theoretically supposed to secure their own financing for the purchase of a home, financing is often arranged by the selling agent. Due to our relationship with our preferred lender, All Western Mortgage, we are in a position to get a quicker and often more favorable loan than the purchaser can on her own or working with you the homeowner/seller.
10. Lack of Buyer Sources
It is a truism in real estate selling that the more exposure the home has to qualified buyers; the more likely there will be a quicker and more favorable sale. Most owners are very limited in their sources for buyers; friends and neighbors, organization bulletin boards and homeowner advertising. At The Snyder Group Network we have a constantly renewing flow of prospects from which to choose as buyers for your home.
11. Lack of Advertising Exposure
As the homeowner you are advertising one home – your own – when we are advertising many homes by comparison. A prospect will call us on one home but buy a home other than the one he called in on first. Through our advertising channels, we provide many more possibilities for qualified buyers.
12. Lack of Follow-up System
Homes are frequently sold on second visits, which have been brought about by the real estate representative. We have a follow-up system on buyers who haven’t yet bought. Usually the buyer’s agent accompanies their clients on inspections of other homes, and when the situation is logical, brings them back to a home they’ve already seen and which seems better than anything else they’ve looked at.
You can take none of these steps. Often, visitors to your open house will refuse to give their names, let alone their contact information, so that you can follow up with them later. Again, you as the owner will be at a distinct disadvantage.