Five Tips on How to Market and Sell Your Own Home Like a Pro
With gas prices on the rise and folks trying to budget their money at every turn, the idea of selling a home without professional help and without paying a real estate agent commission is more attractive than ever before. Bargain Homes is dedicated to helping people just like yourself save money when buying or selling real estate, and weve put together some valuable information, to show you ways to market your property effectively, and sell it like a pro.
Five great tips to help you succeed as a FSBO
Prepping your home for a quick sale:
Before you stick the sign in the yard, do any necessary repairs, spruce up the yard, touch-up paint as needed, and give your house a professional cleaning. Pack up and move as many possessions as possible, leaving just enough furniture and accessories to make your house look comfortable and attractive. The more you take out of a room, the bigger it looks. And buyers respond favorably to spacious homes. The more powerful you can make the first impression, the easier it will be to market and sell your house. The impact a few flowers in the yard, a new coat of paint in the bathroom, or fresh appliances in the kitchen makes can be invaluable when youre marketing a home.
Visit real estate listings in your neighborhood that are for sale by professional Realtors, and notice what they have done to make the house show better, and then apply those ideas to your house. Some real estate agents joke that if you paint the front door and hang on wreath on it, people will buy the whole house just to get the wreath. Others claim that the scent of baking cookies inspires people to feel at home when looking at houses, and they always bake a few before their customers come to look at listings for sale.
Maybe it helps, and maybe its just real estate folklore. We cant say for sure. But if a batch of brownies or an apple pie can close the sale, more power to you.
Pricing for profits:
Using an informative and trustworthy service like Bargain Homes, do some research to find out the recent sales data for homes similar to your own, in your area. Realtors are generally happy to provide the information too, and even help you interpret it, especially if they think you might refer them to your friends.
Average out the prices to get a high-medium-low range, and then decide where to set the asking price for your property. For a faster sale, you will naturally price at the low end. But if time is on your side, you might want to fish for a higher price at first. Test the waters, and if you get no bites, drop the price to the mid-range.
Of course you may have other financial considerations (for example, a quick relocation for work, the need to close out an estate, or a looming foreclosure you want to avoid) that will that influence your pricing, and those factors should be carefully weighed on their own merits.
Mark your calendar. If too many days go by without any offers, you may want to study recent sales figures again, because sometimes the market shifts quickly, and you dont want to be caught without an up-to-date pricing strategy. But chances are, if you priced your home fairly, it will sell in a timely fashion, and youll be on your way to the closing table.
Getting the word out:
Advertising can get expensive, but it doesnt have to be. Take advantage of the official Realtor Association database known as the Multiple Listing Service (MLS), and your house will automatically get the most significant exposure possible, for a reasonable price. Check with your local Association of Realtors chapter, and ask them how you can receive this service. They will direct you to those brokers who will put you in their MLS listing for a flat fee.
To save even more money, list your property through Internet sites for real estate buyers and sellers, like Bargain Homes and Bargain Network. Bargain Homes has a special section of its site dedicated to For Sale by Owner, and will be happy to help you find interested buyers.
Appointments and showings:
Schedule times during your day to show the house, especially in the evenings and on weekends (when most buyers are out looking at neighborhoods), and keep an appointment calendar. Meet your prospective buyers, give them the grand tour, and be sure to give them a flier with pertinent information about your house on it, so they can study it when they get home. If you have your house listed on a site like Bargain Homes, print out the listing on your computer, and use it as your flier or brochure.
Legal and financial issues:
Do-it-yourself projects always have their limitations, and it is important for each of us to recognize our own limits and then let others pitch in to help us when the time comes.
You might be a talented do-it-yourself homeowner who likes to remodel rooms with paint and wallpaper. And maybe you handle a roller and brush without spilling a drop. But if you arent experienced with electrical wiring and brick masonry, youll need to call the contractors in to finish the project. The same goes for selling your own house. If you arent a lawyer or banker, dont hesitate to consult your local real estate attorney and mortgage company, and enlist their help.
By using properly worded contracts and having them checked by a lawyer who specializes in real estate, you can save yourself a lot of money in the long run.
And an enthusiastic mortgage pro will be able to earn new customers by helping your potential buyers get a mortgage to buy your home. Ask one or two to give you their cards, and then refer your buyers to them, for expert help with securing the money to close the deal without a hitch.
For more information about the selling process, read articles on Bargain Homes and similar related sites. There is a wealth of information for folks like yourself who are trying to sell their own homes, and most of it is free for the taking.
Remember that just because you are selling your house by yourself, you do not have to go it alone!