Promoting Your Home Effectively When Selling By Owner
By selling your home on your own you are known in the real
estate world as a "FSBO" or "For Sale By Owner". Some buyers
specifically look for FSBO listings because they assume they can
deduct a standard real estate professionals fees from the price
of the home so they tend to make lower offers. Others believe
that FSBO homes are easier to deal with than trained real estate
professionals. Obviously, neither case is always true but it
happens enough to be aware of it.
Your advertising is what drives potential buyers to first,
become aware of your home, second, to gain interest, and
finally, to make an offer for your home. It is only reasonable
to assume that the more interested buyers you have the higher
selling price you can expect.
In this era of highly accessible information there are many
options available to you as a seller of real estate. As in any
project you undertake, it would be wise to sit down and think
out a strategy before spending any money, in order to avoid
wasting money on ineffective promotional tools. Some questions
you might ask yourself are the following:
1. How much time do I have to sell my property?
2. How much cash do I have to spend on advertising?
3. How many buyer leads do I expect, per dollar spent on
advertising?
4. How much time do I have to devote to advertising daily and
weekly?
After assessing your personal situation you will be better
prepared to develop your promotional strategy. There are several
advertising options out there, some more expensive than others
and some deliver more leads than others. It's reasonable to
assume that the most valuable advertising resources are those
that deliver the most leads to you for the least amount of
money. Some of the most popular and effective methods follow.
* Posting an ad in the local newspaper
* Conducting an open house
* Distributing flyers around the neighborhood
* Posting a yard sign in front of your house
* Posting an ad on an internet real estate website (or on
multiple sites)
Naturally, there are no guarantees that you will get attention
by merely participating in the above promotional methods,
because a lot depends on your ad copy, the presentation of
information, and your asking price. Buyers simply won't contact
you if your price is too high. However, the right combination is
essential to selling real estate by owner successfully.
Once you have decided where and how to advertise, you'll need to
write your ad copy and organize facts about your property.
Following are a few tips on writing your ad.
Writing your ad Keep in mind that many people seek out FSBO
properties when you write your ad. Be sure to take advantage of
this by making it clear you are selling by owner.
Here is a list of things to do when writing your ad:
* Do indicate you are selling by owner
* Do indicate you have a complete property listing on the
internet, and where it can be found
* Do describe the structure, style, and number of bedrooms and
bathrooms
* Do describe the neighborhood
* Do list the sales price
* Do highlight any special features your home may have, such as
a pool, hot tub, fenced yard, etc.
* Do include your phone numbers and email and indicate the best
time to reach you (if by phone)
By not including the property address in your advertisement, you
encourage potential buyers to call for more information, which
gives you an opportunity to set up an appointment to show them
your home.