When you are selling your home, you can either go the conventional route and pay a real estate agent around 6percent in commission, or you can join the growing do-it-yourself trend. “Homes for sale by owner” or FSBO (that’s just “sale by owner”, of course) is where private houses are put on the market and promoted without using the assistance of a real estate agent.
More and more Americans are choosing the FSBO alternative, according to figures. Perhaps you know somebody who has sold their home this way. Certainly, there is more work involved but take into account the massive savings available by doing the job yourself.
A quick trip around your calculator will confirm a $6,000 savings on a $100,000 house which escalates to a saving of $24,000 on a $400K house. Even if you share a little of that with the buyer by way of a reduction at the last minute to seal the deal, you come out ahead – and so does the buyer.
MARKETING YOUR HOME BY YOURSELF
When it comes to advertising your home, the ad you write is decidedly important as a first point of connection with your potential home buyers. You have to hook their attention. You have to stand out above the bunch of competing home sellers.
Here are some handy hints to help you create effective ads, even if you’ve never written an commercial before.
1. Write A Short Catchy Headline To Your Ad.
Be confident. Tell them the top feature of the house, but keep it to the point.
2. Add in 2-3 Other Convincing aspects Of The Home.
Also tell buyers there are other great features about this particular house but you just don’t have opportunity detail them all in the ad. This creates a sense of curiosity.
3. Offer An Incentive.
Maybe a free $200 gas card or store gift card if they sign the documents before a certain date. Relatively inexpensive, but this little extra can sometimes swing the deal.
4. State The Price And Mention “Already Reduced”.
If you set the “already reduced” price a little higher than you want, you still have room to reduce it while making the target amount you want from the sale.
5. Include Your Live Contact Information.
If it’s your cell phone number, keep the phone on all day. When they call, be ready to mention recent updates, your just-reduced pricing, and the incentive you’re offering. Remind them it’s realistically priced because you did your market research before placing your home on the market. And tell them why you love the home. Help them fall in love with it, in other words.
If you use a website contact form, offer some free information such as a property brochure, an inspection report or an appraisal as an extra reason for them to enter their contact details.
FREE LISTINGS
Home owners with a “home for sale by owner” property can list their home at www.GoByOwners.com at no cost, or get their home featured at the site for a small fee.
Homes For Sale By Owner – www.GoByOwners.com
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