Understanding the Charlotte Real Estate Market for FSBOs
On first thought, selling your home by yourself seems to make perfect sense. It doesn't look all that difficult, right? So you decide to sell your home the FSBO way (For Sale By Owner). You figure that you can put up a sign and allow people to come in to look at your house. Then, you’ll review all the offers you are sure to get and pick the best one and you're done. That's all there is to understanding the Charlotte real estate market—right?
Well, not quite. One of the most difficult things for a person trying to sell their own home to do is understand the Charlotte real estate market in order to price their home correctly. All of the above steps will stall without setting a price that will make you happy and get a buyer to sign on the dotted line.
The Price is Right
In some ways selling your home as a FSBO will seem a little like the television game show "The Price Is Right." If you do get buyers through, they may walk around your home and have no idea what local values are but, they will still do their level best to talk down your price.
Others that come to view your FSBO with their Charlotte real estate agents will have a very firm grasp on local, Charlotte real estate values and how your home stacks up against the competition.
In either case, you must know what comparable homes in your area are selling for so that you can argue your own case and know when you are being under bid. Public comparables are not an accurate assessment; some online sites are headquartered in states across the country from your home and neighborhood. How can they possibly have accurate market knowledge and statistics?
Overpricing is Costly
The temptation to want more than true market value for your home is common but counterproductive to selling your home. It’ll set on the market so long that people will begin to wonder what’s wrong with your home. Then, when you drop your price, you’ll appear desperate. Potential buyers will devalue your house in their own minds, which further decreases the chance of you getting a fair market price for your home.
If you have questions about the current Charlotte real estate market, give me a call or email me today.
Recent post regarding pricing and selling your home: I live in Realityville, do you?
(THE best Charlotte home search available - no kidding!)
Debe Maxwell, CRS/Realtor®/Broker
Broker@TheCharlotteScoop.com
Phone (704) 491-3310
