3 Things The Fastest Selling FSBO Homes Have In Common
When it comes to for sale by owner success stories, even though they can be hard to track down, it’s fun and invigorating to hear about other sellers’ great house-selling experiences.
Today, we’ve got a few for sale by owner home stories to look at. Most of them sold in a short amount of time, but we also are going to consider what these homes had in common to help in selling the home quickly. Read on to explore these stories.
Ali Wenzke, a writer from Chicago, has had great success selling her homes for sale by owner. Ali and her husband have purchased one for sale by owner home and sold two. She explains three specific things that have helped them be successful while selling for sale by owner. “Be objective. Work hard. Be flexible to do showings at any time.”
But things didn’t always go well. One home they listed wasn’t selling quickly, even after all the work the Wenzkes did. Let’s see what Ali says they did to list their home.
”First, we decluttered and depersonalized our home. This is an extensive process, so we started early. Second, we took amazing photos of our immaculate space. Professional-looking photos would sell our home. Third, we signed up for a flat-fee listing service.”
Ali goes on further to explain why they signed up for a flat-fee listing service. ”Without a listing on the Multiple Listing Service (MLS), realtors wouldn’t know our home was for sale.” But as we said, their house wasn’t selling as they expected it to. They soon learned the problem was in their price. After deciding to drop the price of the house, they had no problem selling right away.
And in summary, what Ali said is some of the best advice. She said, “we need to be realistic about our home value.” This is excellent advice, we think. Houses mean more to the FSBO seller. It’s a big part of their life and almost a part of them. So be sure that you keep in mind not everyone values your home the way you do.
When Paul Lopez listed his ranch in the middle of an Indiana winter, he was going against what almost all real estate agents would have told him to do. According to The Mortgage Reports, “In most areas, the best time of year to sell a home is during the first two weeks of May.” They go on to explain that when you sell during this time period, your house will generally sell 18.5 days faster, and for 5.9 percent more money.
But what helped Paul Lopez to still sell his house quickly? He says it was because he was flexible. Because of the bad weather, Lopez let his buyer’s move in over a period of four months. We’re sure this would always make buyers more likely to purchase in the middle of winter.
While we don’t always suggest selling towards a specific person or set of people, sometimes it’s necessary. In the Albright’s case, being specific helped them sell their home quickly. The Albright’s had a luxurious kitchen built specifically for them. But they weren’t sure how that would go over when they decided to sell their home.
So they came up with a plan. They decided to “market” their home to a buyer with similar tastes in kitchens. In this case, it meant someone who was a real foodie and would appreciate the gorgeous kitchen. Their plan developed quickly, and in not too long, their house was sold to a couple who planned to start a catering business out of it. We’d call this a definite win.
Let’s quickly consider what these FSBO houses had in common. First, all the sellers had determination. None of them ever considered giving up, which is important when selling a house. Second, they were all flexible. They knew that to sell their house, they couldn’t set strict rules to follow. This definitely helped them sell quickly.
And lastly, they had a good mindset. This goes along with determination, but they are separate things. None of them gave up before they’d started or when things didn’t go right. And they were positive that things would work out in the end.
This is an important aspect when selling for sale by owner. Overall, staying encouraged and positive will lend itself to a much happier selling process.
Don’t be afraid
Don’t let fear and the unknown take over your home sale. Things might go diffferently than planned, but usually, they’ll work out eventually. Be sure to do your research, and you might just become one of our great success stories! In your spare time, be sure to read more on what to avoid as a FSBO seller.