For Sale By Owner: What are the best ways to get it sold?
We rarely used to see a “For Sale by Owner” sign, because a vast majority of sellers prefer working with a realtor to put their house on the market. There are more buyers than houses for sale, prices have slowed, and hence, many homeowners think that working with a realtor increases their exposure to prospective buyers. But times have changed and more homes are being sold this way. As a homeowner, you don’t have to follow the crowd for a successful home sale. You can decide to go it alone when selling your home and save on commissions —or for whatever else might be the reason. Are you curious about what the best practices are for real estate sales by owner?
Here are 3 great ideas to sell your home without a realtor and still get the best price.
1. Get your home inspected by a trusted inspector:
Do you want potential buyers to look around your house, find some problems with the house, cringe, and think of these things as “easily” fixable? Getting an early inspection on your house will give you a heads up on any repairs that need to be made before selling your house. In most cases, buyers get the house inspected before closing anyway, but there is no harm in finding out the shortcomings of your house in advance. You can then take the necessary action to get rid of those shortcomings for the best price instead of paying an inflated price later on. Bonus: You can mention that your home got inspected, and everything is mended in the advertisement of your home. Keep the inspection and repair receipts to show perspective buyers.
2. Choose your marketing plan wisely:
If you would rather sell your home yourself, you should come up with a marketing strategy that will make the most of your efforts. First of all, select target buyers. Research the buyers’ profiles and gather information about their habits, professional lives, free time activities, and personal preferences. The more information you have about potential buyers, the better you can refine your strategy. Think about the ways, which will get the advertisement of your home in front of your audience. What is the type of media your potential buyers might use when they are ready to buy? Is it social media, email marketing, poster campaigns, brochures, or local newspapers? Making use of the online classified sites could be the most appropriate strategy in this era.
3. Let the people spread the word!
Organizing a neighborhood party to let everyone know that you are selling your house is a great way to spread the word! Invite everybody you know who lives in your vicinity—friends, neighbors, and even strangers. It’s the perfect way to strengthen your local network, and to get the word out. Use your social networks to inform people that you wish to sell and let them help you find buyers.
The best way to sell your house quickly and efficiently is to find an honest investor. They will be able to tell you what the house is really worth, what repairs may be needed, and offer you a fair value for the home. Avoidance of realtor commission fees is just the beginning of the benefits you will enjoy when working with a real estate investor. Before you place the “For Sale by Owner” sign in your yard, find someone who can streamline the process for you and save yourself a lot of time.