Tips On Making The “For Sale By Owner” Strategy Work For You
A growing number of homeowners are opting to secure the sale of their property without the professional assistance of a real estate agent. The main reason for opting to go down this often more challenging route is they get to save on the commission normally paid to the agent, and since every single dollar should be saved these days, the typical 6% of the sale price that goes directly to the agent is indeed a large amount of money saved.
However, there are important things to consider should you choose to go down the “for sale by owner” route. The first one is you may get lower offers for your property since buyers know that you’re not working with a realtor whom you would typically need to allocate a portion of the sale price for. Secondly, it may take you longer to make the sale since you’ll probably just use the free time you have to get the word out there that you’re selling. And thirdly, you will have to cover extra legal costs for you will need to hire a lawyer who can help you accomplish the necessary paperwork for the sale.
Now, if you have taken all these things into account, you’ve managed to devise a plan to work around these hurdles, and you’re resolute to make this strategy work, here are additional tips to help you be successful in taking care of the sale of your home yourself.
Improve your negotiating skills. This is the best way of addressing the usual problem of lower offers for “for sale by owner” properties. With great negotiating skills, you can sell your property at the most advantageous price.
Reach out to your network of contacts. Ask your co-workers, friends, neighbors and family members to let their own contacts know that you’re selling. The important thing is to get the word out there because it’s always likely that someone you know knows someone else who’s thinking of moving and buying a house.
Finally, entertain those phone representatives from relocating companies. While you’re still selling, it would be beneficial for you to unblock telemarketers as there are those who work for relocating companies, looking for homes that their clients can easily move into.
Set aside a budget to advertise in local newspapers and publications.
Use your social networking accounts. Even big real estate agencies use Facebook, Twitter and Pinterest for their operations and to promote the properties they have in their listing; it works for them and it will work for you, too.
Use your own resources as marketing tools. Print flyers and distribute them throughout your community.