According to the National Association of Realtors, For Sale By
Owner (FSBO) home sellers comprised nearly 14% of all home
sales in the United States in 2003. The Boston Globe reported
that nearly 25% of homes sold in that area during that same
time period were FSBOs.
Although many FSBO home sellers have saved thousands of
dollars in commissions, many others have lost money, and
current statistics show that 80% of FSBOs will eventually list
their homes after unsuccessfully trying to sell their homes
themselves. However, if you’re thinking of trying to sell your
home without the aid of a real estate agent, here are a few
tips for getting the most from the experience:
Leave Your Emotions Out of Your Sales Process
Selling your home often can be a painful experience, so it’s
important to emotionally detach yourself from your house and
try to think of it as an investment in your future. Try not to
be affected by unkind remarks you may hear from prospective
buyers trying to get you to lower your price by attacking
various features of your house. And although you should call
your house a "home" to prospective buyers, think of it as just
a "house."
Set the Right Sales Price
Of course, you want to get the highest price possible, but
pricing your home too high will keep it on the market too
long, which will lead people to think there’s something wrong
with your house. Look at the other homes being offered for
sale in your market and compare them to yours, in terms of
square footage, number of bedrooms, lot size, and other
features that are similar to yours. Be objective, and then
price your home according to your findings. You might consider
setting a price range, instead of a fixed price, if you’re
considering helping potential buyers with their closing costs.
Advertising
Signs: Pick up directional signs at a home improvement store,
list your phone number and the address of your home on them,
and then display the signs in prominent places around your
neighborhood. Most buyers use the services of a realtor to
look for a new home, but if your home’s in a desirable
neighborhood where other houses are also for sale, potential
buyers may see your signs and come back later to visit your
home. Place a professional-looking sign in your front yard,
featuring your phone number in print large enough to be easily
read from the street.
Flyers: Think like a marketing guru and create a sizzling
sales flyer, listing all the benefits and features of your
home.
Newspapers: Pick up copies of all the newspapers and
advertisers in your area, and look at them, imagining that
you’re the one looking for a home in your area. Then create an
ad of your own, copying ads that most attract your eye. Make
sure to list benefits to potential buyers and not just the
features of your home.
Showing and safety: Ask prospective buyers for their phone
numbers before you give out your address over the phone, and
then call them back to verify the information. Also, make sure
to have someone with you when you’re showing your home to
strangers.
If you find that you need to turn to an agent for help, here
are some tips for finding the right one to sell your home:
Bear in mind that many real estate agents will make
unreasonable promises to sell your home for a high price, but
they’re only hoping to get the listing. Like buying anything
else, you need to be informed, so it’s important to compare
services. Interview several agents, ask for referrals from
satisfied clients, and then call those home sellers.
Saving On Real Estate Agent Fees
You also have the right to negotiate the broker's commission.
Since most homes are sold by a selling agent, rather than the
listing agent, why pay 3% to the listing agent for just
listing the home? Ask for a 1% listing commission if the agent
does little to market your home. You might also offer to pay
less to the selling agent--2.5% is a common percentage in
high- priced areas--or point out to potential listing agents
that since your equity is less than the selling price, you
want to pay a percentage based on that figure, rather than on
the sales price.
Most areas also have flat-fee brokers. Some will charge a
percentage of the sales price, while others may charge as
little as a flat $395 to list your home with the Multiple
Listing Service. Decide which services you’re actually going
to need, such as yard signs, showing help, and contract
preparation, and then match your needs to the services
offered.
Selling your home yourself should mean that you save money on
real estate fees. But if you're not a savvy salesperson, you
could actually make more money and sell your home faster by
hiring a go-getter real estate agent.
(c) Copyright 2004, Jeanette J. Fisher. All rights reserved.
Professor Jeanette Fisher, author of Doghouse to Dollhouse for
Dollars, Joy to the Home, and other books teaches Real Estate
Investing and Design Psychology. For more articles, tips,
reports, newsletters, and sales flyer template, see http://www.doghousetodollhousefordollars.com/pages/5/index.htm
Article Source: http://EzineArticles.com/
June 2:
