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For Sellers

The Risks of Selling Your House on Your Own

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Are you thinking about selling your house as a For Sale by Owner (FSBO)? If so, know there’s a whole lot more time and expertise needed in that process than you might think. While the idea of doing it all by yourself might seem tempting, it’s important to recognize the challenges you may face if you take it on all by yourself. As a recent article from Bankrate explains:

“Choosing the right price, crafting a compelling listing, marketing to potential buyers, coordinating showings, preparing paperwork: All of these are tasks that, in the absence of a real estate agent, you will have to do yourself.”

Here’s a bit more information on just a few of those things and how you may miss out if you don’t use an agent.

You May Not Price it Right

Pricing your house right is key to a successful sale. Real estate agents have experience navigating this housing market and understand the art of pricing a home to sell today. Unfortunately, homeowners who sell on their own often lack this all-important experience. That can lead to two common consequences: overpricing or underpricing the house.

An article from Nerd Wallet offers this advice:

If your home is overpriced, you run the risk of buyers not seeing the listing. . . . But price your house too low and you could end up leaving some serious money on the table. A bargain-basement price could also turn some buyers away, as they may wonder if there are any underlying problems with the house.”

Don’t run this risk. Instead, partner with an agent to make sure your house is priced at current market value, so it catches the eyes of eager buyers. This will put your house in a position to make the best first impression possible.

You Don’t Have as Much Experience in Marketing a House

In this digital age, online marketing has become a real game-changer, especially when it comes to selling your house. A recent report from the National Association of Realtors (NAR), explains:

“Among all generations of home buyers, the first step taken in the home search process was to look online for properties.”

When you partner with a real estate agent who knows how to take advantage of online marketing tools and resources, you’ll be able to get in front of these tech-savvy house hunters, boosting your chances of a successful sale. But, if you’re attempting to sell your house on your own, you might find yourself missing out on the full power of online and social media strategies.

You May Not Be Comfortable Handling All the Back-and-Forth

When you decide to sell your house, you’re not just on a quest to find a buyer; you’re also stepping into a world of negotiations. You’ll have to coordinate with a bunch of people, including the buyer, the buyer’s agent, the inspection company, the appraiser, and more. It’s a dance where every move counts, and the expertise of a real estate agent can make a world of difference in keeping these negotiations on track and sealing the deal.

As NerdWallet says:

“Your listing agent will also, of course, be on your side throughout negotiations. They’ll double-check paperwork that comes through, communicate with the buyer’s agent and other parties to the sale, and generally stay on top of things through to closing day.”

Bottom Line

If you’re thinking about selling your house and the idea of going it alone has crossed your mind, be sure to think through that decision carefully. Connect with a local real estate agent to discuss how a professional has the experience needed to take all that stress off your plate.

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For Sellers

More Contracts Are Falling Through. Here’s How To Get Ahead.

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When you sell a house, the last thing you want is for the deal to fall apart right before closing. But according to the latest data from Redfin, that’s happening a bit more often lately. The good news is, it’s completely avoidable if you lean on an agent for insight into why that is and how to avoid it happening to you.

This June, 15% of pending home sales fell through. That means those buyers backed out of their contracts. That’s not too much higher than the norm of roughly 12% from 2017-2019, but it’s still an increase. And it’s one you don’t want to have to deal with. 

The key to avoiding this headache is knowing what’s causing the issues that lead to a buyer walking away. A recent survey from John Burns Research and Consulting (JBREC) and Keeping Current Matters (KCM) finds that agents reported the #1 reason deals are falling apart today is stemming from the home inspection (see graph below):

a graph of a number of individualsHere’s why. With high prices and mortgage rates stretching buyers’ budgets, they don’t have a lot of room (or appetite) for unexpected repairs.

Not to mention, buyers have more options to choose from now that there are more homes on the market. So, if the inspection turns up a major issue, they may opt to walk away. Afterall, there are plenty of other homes they could buy instead.

Or, if the seller isn’t willing to tackle repairs, a buyer may back out because they don’t want the expense (and the hassle) of dealing with those issues themselves.

The good news is, there’s a way you can get ahead of any unpleasant surprises as a seller, and that’s getting a pre-listing inspection. It’s not required, but the National Association of Realtors (NAR) explains why it’s helpful right now:

“To keep deals from unraveling . . . it allows a seller the opportunity to address any repairs before the For Sale sign even goes up. It also can help avoid surprises like a costly plumbing problem, a failing roof or an outdated electrical panel that could cause financially stretched buyers to bolt before closing.”

What’s a Pre-Listing Inspection?

It’s exactly what it sounds like: a professional home inspection you schedule before your home hits the market. Here’s what it can do for you:

  • Give you time to fix what matters. You’ll know what issues could come up in the buyer’s inspection. So, you’ll have time to take care of them before anyone even walks through the door.
  • Avoid last-minute renegotiations. When buyers uncover unexpected issues after you’re under contract, it opens the door for concessions you may have to make like price drops or repairs, or worse, a canceled deal. A pre-listing inspection helps you stay ahead of those things before they become deal breakers.
  • Show buyers you’re serious. When your home is clean, well-maintained, and already vetted, buyers see that. It builds trust and can help you sell faster with fewer back-and-forth negotiations.

The bottom line? A few hundred dollars upfront can save you thousands later.

Should Every Seller Do This?

Not necessarily. Your real estate agent can help you decide what makes the most sense for your situation, your house, and your market. If you decide to move forward with a pre-listing inspection, your agent will guide you every step of the way. They’ll:

  • Advise on whether to fix or disclose each issue
  • Help you prioritize repairs based on what buyers in your area care about
  • Make sure you understand your local disclosure laws

Bottom Line

If you want to avoid potential snags in your deal, a pre-listing inspection could be the way to go. Connect with an agent to go over whether a pre-listing inspection is the right move for your house and market. 

Would you rather find out about a major repair now, when you can handle it on your terms – or after you’re under contract, when the clock is ticking?

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For Sellers

What You Need To Know About Concessions

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Now that there are more homes for sale, buyers have more options. And sellers need to be more flexible to close the deal. 

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For Sellers

Online Home-Buying Search Terms Recently Hit 2-Year High

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Believe it or not, there are clear signs buyer interest is heating up again.

Let’s talk about what’s really going on behind the scenes, and why the housing market might not be as quiet out there as it seems. 

Buyers Are Looking, and Search Trends Prove It

One of the clearest ways to measure what people are thinking about is to look at what they’re searching for online. And according to Google Trends, searches for phrases like “home for sale” have been climbing steadily this year.

The graph below shows an index of two common homebuyer search phrases and how popular they were on Google over the past two years. The higher the line goes, the more popular that phrase was. A 100 on the graph shows the most popular time for each phrase:

a graph of a number of peopleHere’s what really stands out in this data. Both phrases have been trending up overall this year, and they hit a recent high in mid-July. That’s a pretty strong sign that curiosity (and maybe even interest) in buying a home is improving.

That kind of momentum means something. Despite high mortgage rates and home prices, buyers haven’t given up. They’re still watching the market. They’re still browsing. And many are just waiting for the right opportunity to act. Maybe your house is exactly what they’re looking for. But you’ll never know if it’s not listed yet.

Now, this doesn’t mean demand is going to surge like it did during the pandemic. It just means some buyers are deciding they can’t wait any longer. And those are exactly the kind of buyers you want. Motivated. Eager. Ready to move when the right house comes along.

So, if you’re holding off on selling because you’re not sure if the demand is there, this data suggests it might be time to rethink your plans. Because while it’s not 2021-level demand, it doesn’t need to be. You don’t need ten offers to sell your home. You just need the right buyer.

And that buyer may be searching for a house like yours right now.

Bottom Line

If you’ve been thinking, “I’ll sell once buyers come back,” you might want to take another look. Online search trends show they’re already interested.

What would make you feel confident putting your house on the market this year? Connect with a local real estate agent to talk through it.

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Copyright © 2020-2025 Mark Sincavage. All rights reserved.  
The information contained, and the opinions expressed, in these article are not intended to be construed as investment advice. Let's Talk Real Estate, Mark Sincavage, and Keeping Current Matters, Inc. do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Let's Talk Real Estate, Mark Sincavage and Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.