A Buyer’s Perception of For Sale By Owner
It’s about Trust
While out showing homes, we happened upon a home that was for sale by the owner. We had a little extra time between appointments so we called the number on the sign; of course, it was not a convenient time to see the home. Had the home been listed with a real estate professional, we would have seen the listing in the MLS in advance of our call allowing us to schedule a tour at a time convenient for all. After I explained that we were about to head in a different direction, the owner allowed us to enter.
The home was perfect – it had everything the buyers wanted! In addition, the owner was asking $30,000 less than the other homes on the buyers’ list. So, you can imagine my shock when they told me they didn’t want to pursue this home. It boiled down to trust.
When I explained that the home was a bargain based on comparable sales, they assumed there was something wrong with the home.
The owner tried hard to highlight all the special features of the home, but the buyers thought there was something he was trying to hide.
The owner’s tone changed when we asked about disclosures and a providing a survey. He knew a friend that could provide a survey at a discount. This made the buyers leary about the integrity of the deal.
I truly believe that there is something about a Waco Home Team sign in the yard that gives a home a “stamp of approval.” The owner and their claims have been vetted. They understand that there will be inspections and they must provide an honest seller’s disclosure. Enlisting the services of a professional real estate agent gives confidence to the buyers. Plus, the seller in this case could have sold the house for a significantly higher amount than he was asking.
Remember, buyers shop by a process of elimination.
Don’t give buyers a reason to be skeptical about your home. Hire the Waco Home Team so we can give you the legitimacy and respect you deserve.