As mentioned in a recent, FSBOs often price their homes too high. In completing a comparative market analysis for a FSBO yesterday, we found that they had their home overpriced by a minimum of $30K. In fact, the home should be priced about $40K less than they have it to be in line with 'sold' comps for the last 6 months. They may find a buyer (because many buyers work under the misconception that they are saving money by purchasing from a FSBO - both sides of the deal DO NOT get the benefits of not paying real estate commissions), but even if they do, it will never get an appraisal at that price. As is so often the case, sellers think they have the nicest house in the neighborhood making it worth 10%, 20% or 30% more than all the others. We definitely have our work cut out for us.
ABOUT THE BLOG OWNER
TIMOTHY H. FENNELL, PA
Tim Fennell is a Florida licensed Real Estate Broker with Legends Land and Realty, Inc. in Jacksonville, Florida.
His strong background in business development, real estate investments, counseling and marketing greatly enhance his skills as a Listing and Internet Marketing Specialist.
Tim and his wife, Susan, have over 30 years experience in Jacksonville Real Estate sales, marketing and investing. Both are Accredited Consultants in Real Estate (ACRE®). When you're ready to be consulted with, rather than sold to, give Tim and Susan Fennell a call.
Visit Authors Website →