There are different reasons behind why home owners want to sell their own home. The reason doesn’t really matter. You can successfully sell your own home without using an agent when you incorporate basic marketing techniques into your sales process. Whether you are selling homes, televisions or donuts, the same three marketing principles apply. There are three equally important parts to balance in any sale, and selling a home is no different.
The first area you need to research and strategize is pricing. If you do everything right but get the price too high, it will all be for nothing. Most sellers think that buyers will negotiate, and they will if your price is close to market value; but go too high, and negotiations won’t even start. Agents will negotiate all day long, but in an owner to owner transaction, it’s different. Overprice your home, and you come across as unrealistic, and no one wants to waste their time negotiating with someone like that, so they move on to the next home, often without even calling, visiting the home or talking with the owner.
The second key principle in selling is exposure. A home buyer should see your advertising everywhere they are looking. On top of that, your advertising needs to be professional. A hardware store fsbo sign and a plain ad with a bland photo will get you passed by. Agents spend big bucks on professional signage, quality advertising and professional staging and photos. When your marketing looks professional, you have the best chance of selling yourself and keeping the commission.
The third key marketing strategy you need to understand is the local market. What is the local real estate market like? How many homes in your area and price range have sold in the last few months, and what is the average market time? You might as well be blindfolded without this crucial information. Without it, most by owner sellers don’t last more than a month before listing with an agent. With no idea what to expect in response to your marketing, it’s easy to get discouraged.
You can get more in depth information on selling your home without an agent when you sign up and log in to ByOwnerUniversity.com Member’s Area where there is more detailed information, including e-booklets, audio and video instruction. Avoid the mistakes that other by owner sellers make by reading the full color, nine page e-booklet on “Three Keys to Selling Your Own Home.” You’ll learn how to successfully market your home to buyers in today’s market.
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