There can be multiple reasons why homes don’t sell. Even the professional real estate agents make some of these mistakes. Selling a house is usually HARD work! If you are doing it as a part-time job, I know there is a chance it could go right. But, statistics show that it almost always doesn’t go as well as it could. Here are a number of reasons why FSBO’s fail to sell:
- Did not have a process to screen the buyers (and their lender) to make sure they diligently pursued the loan and could actually close the deal
- Did not use a professional stager to get the house ready
- Did not use a professional photographer and their photos were just not compelling
- Did not have enough time to prospect for buyers every day
- Buyer prospects knew the inventory better than they did so they had the upper hand in the negotiations
- Other sellers with competing houses were better prepared and better positioned in the market
- Missed the mark on pricing initially and could not recover
- Did not know how to manage home inspection issues without giving away the farm
- Talked too much when showing their house and turned off the buyers by hovering over them the whole time
- Had trouble coordinating showings with prospective buyers
- Did not have court-tested contract forms and experience enforcing them
- Had no professional sales language and negotiation training
- Started out objective but lost sight of the whole reason they were moving when their emotional attachment flared up.
- Did not know which marketing techniques mattered most and wasted resources chasing dead-ends.
- Buyer found something during the inspection that should have been disclosed up front and terminated the contract.