Marketing Your Home for a Successful Sale
To successfully market your FSBO, you’ll need to maximize its exposure to as many potential buyers as possible. This might be the hardest part of selling your home yourself because, let’s face it, marketing is expensive. Not only does it cost to put an ad in the paper or online or in the local FSBO magazines but it’s hard to decide which will provide the best value for your money.
According to the NAR’s 2007 Profile of Home Buyers and Home Seller, 71% of successful FSBO sellers had a yard sign. Twenty-three percent told their friends, neighbors and relatives that they were selling their homes. Nearly 35% held an open house and 37% ran an ad in the newspaper. Furthermore, 32% posted their ad on the Internet.
Flyers and Open Houses
Did you know that most potential buyers won’t even bother stopping by a home if it doesn’t have an information sheet (or flyer) detailing what the home includes, selling price and pictures of the home? To have these flyers be most productive, be sure you have them printed in color with good resolution pictures on a good stock of paper. Be sure to provide as much information as possible such as square footage, number of rooms (with dimensions, if possible), age, price, school district, special features, lot size, location, taxes and a well written description. Then make at least 50-100 copies to place outside your home in a weather-protected box for passers-by to take with them. And keep a supply on-hand to replace when empty. Click here to request samples and additional helps.
Are You Ready to Open Your House to the Masses?
One of the most beneficial ways to increase the odds of selling your home is to have an open house. This way potential buyers can actually see the home and decide if it’s something they want. Preparing for an open house takes time, commitment and lots of patience. You’ll have to get it in tip-top shape.
How about a Lease/Option?
If you decide that, in this buyers market, you’d rather try to lease/option for your home to a potential buyer, you should be aware of the different types of loans there are. Read this informative article on the most common forms of financing available.
And, if you want to try a “lease/option” contract, here’s some information you will need:
A lease/option house purchase is a lease with an option to buy the property within a specified period – usually three years or less – at an agreed-upon price. The borrower pays an option fee (1% to 5% of the price) which is credited to the purchase price. The borrower pays rent and an additional rent premium that is also credited to the purchase price. If the purchase option is not exercised, the buyer loses both the option fee and the rent premium.
To sellers, the rent premium payments are the best guarantee that their houses will sell; however, if they don’t sell the payments are retained as income. I think you know what I am going to say here: Seek legal counsel if you are considering offering a Lease/Option.
|
|
Security Issues
There are inherent security issues that arise when you put your house up for sale. For example, the safety of your home, possessions and yourself when showing your home or during open houses.
In “Selling Your Home – A FSBOs Guide to Keeping it Safe”, Michelle Annese provides these seven tips for keeping you and your home safe while showing your home.
- Fully screen callers before allowing them an appointment for seeing your home. Ask all the questions: name, existing address, and telephone number. Where are they employed? Why are they looking to buy? Do they have a family in the area? Any children? Ask as many questions until you feel comfortable with this person.
(Read More) |
