For Sale By Owner Can’t Handle Bidding Wars – Episode #54
TRUE STORY…An owner tries to sell their house on their own to save on Realtor commission fees. They listed the property below market value to create a bidding war. When they received multiple offers they couldn’t handle the situation because apparently they didn’t want to “over complicate things” and therefore refused to look at all the offers and decided to look at only 2 random offers. They finally accepted one of them which ended up being less than what they listed their house for. In other words, they sold for well below market value.
By trying to save a buck, they actually lost tens of thousands of dollars by not hiring a professional Real Estate Agent to handle it and get the biggest bang for your dollar. WOW! The buyer really scored here! A big and expensive lesson to this Seller!