Do you what they call a buyer who makes a lowball offer in today’s market? Renter.
- In today’s market a properly priced home will practically sell itself
- Most buyers find a home online, without the help of a realtor
- It saves a ton of money
Of course if you do sell your own home, you will likely encounter an old wives tale that has been passed off as the truth. The story goes that when you sell your own home, savvy buyers will know that you are saving the commission and will expect you to pass that savings on to them, so they will just subtract that amount from the “fair” offer they make you.
Maybe that logic works in a buyer’s market. Then again any lowball offer may work in a buyer’s market, depending on the motivation of the seller. But in the seller’s market like we have today in most areas, following that logic will keep you on the outside looking in.
The truth is that most homes for sale today are extremely competitive, tend to sell quickly and for over the asking price—even homes being sold without a realtor.
So, go ahead all you FSBOers. Take some great photos, price your home intelligently and don’t worry about passing on commission savings. It’s just a myth perpetrated by those who don’t benefit when you sell your own home.