Why is selling a home by owner similar to online dating?
You’ve crafted the perfect profile. Scrutinized every photo for flawless lighting. Wondered out loud, “Did I provide enough detail?” “Do I sound too desperate?” “Will I find ‘the one’?” Finally, with fists clenched and eyes shut tightly, you pressed “enter” waiting for the games to begin.
Much like the pursuit for finding Mr. or Mrs. Right, this is a day in the life of a for sale by owner, where endless hours are spent pouring over the number of “saves” and the phone illuminates endlessly with possibility. Often, it’s just another browser, bankruptee or investor offering nickels on the dime. Confounded by the lack of qualified prospects in the mix, sellers hastily blame the market for the shortfall.
There are three main reasons why a seller would choose to sell their home by owner, (1) they are testing the market; (2) they were previously listed with an agent or (3) they want to save money.
Whatever the reason, an online ad is only one way to attract your soulmate, whether it’s a lover or a buyer. The pool of potential suitors is limiting, and the online environment is riddled with questionable prospects. The Statistic Brain Research Institute reported that online dating results in marriage only 16 percent of the time while the National Association of Realtors reported that only 7 percent of home sales were by owner in 2017, and at a steep 25 percent discount compared to agent-assisted sales.
So what becomes of the remaining “by owner” sellers? In most cases, they become their highest bidder and fail to sell their home. Holding out for “the one” who is able to find you, willing to overpay and sympathetic to your bottom line may take years or even a lifetime. Perhaps it’s time to consider that your white horse took a detour and seek the counsel of a pro-active professional who is waiting to sweep you off your feet.
Keller Williams Realty,
(203) 400-6447, (203)767-3512, Info@CTHomeSales.com, www.CTHomeSales.com