For Sale By Owner: How To Market Your Home
FSBO (For Sale By Owner) is becoming a popular way to sell homes. Many people who choose this medium to sell their home want to avoid real estate commissions. Others have tried real estate agents and decided that they can better sell their home or property.
If you have decided that you want to sell your FSBO home, you must realize that you will have to market your home like a real estate agent would. This means that you must use the same real estate marketing methods that a real estate agent would use. This means that you will have to put in the time and effort to the effort.
You have come to the conclusion that FSBO is the way to go. You are ready to put your home or property on the market “for sale by owner.” You have priced your home competitively and appropriately for your local market. How are you going to market it now to get the exposure you need to attract potential buyers and make the sale?
You will need to follow the same marketing steps and techniques that any real estate agent would use. These are the techniques I would recommend:
Sale by owner signs
House signs are the first place to start. Signs can be made locally or often purchased at hardware stores. You would spend the money to make your own personal sign. It will be worth it if done right.
While real estate agents put up posters with the name of the agency and the phone number of the agent on the list to contact. FSBO signs should read like the title of a good advertisement. “The house of your dreams is already for sale” or “The view from your future home is spectacular.” It should grab the immediate attention of drivers and get them interested in seeing your home for themselves. This sign should play on the emotions of the potential buyer.
The phone number on the sign should be prominent and large enough for visitors to read from the road. It should be preceded by a statement such as: “For more information on this wonderful home, please call 555-5555.” Set up a phone number that is separate from your normal, specific phone number for selling your home.
Buy an answering machine that has caller ID so you can capture the name and phone number of potential buyers. The message should instruct the caller to leave their contact information so that you can reach them as soon as possible with all the property details. If you have your home on the internet, you can also give them the URL while they wait for your call back. This website can also be included on your FSBO sign.
Classified ads
A classified ad in your local newspaper for your FSBO property is a good investment. These are generally inexpensive and have a high return on investment in obtaining leads. A short ad, which also reads like a good headline and runs multiple times, will serve you best. The same information found on your home sign, phone number, and website listing should accompany the ad.
Community magazines and publications
Many communities have “For Sale by Owner” magazines that are posted in malls, gas stations, and outside of grocery stores. They are similar to housing magazines in which real estate agencies advertise listings.
These ‘For Sale By Owner’ posts will cost more than a classified ad, but have the advantage of having photos of your home and a more detailed listing description. I would advise that your ad be different and unique from the normal listing if possible. Some publishers have set rules about what they allow.
Use these ads to emphasize the benefits of the home and not just the features of the home such as the number of bedrooms and bathrooms. Answer the question of what it brings to the buyer. Give your special phone number so that you can gather contact information about the potential customer.
Brochures
One page brochures or flyers are one of the best homeowner selling means available to you to advertise your property. These can be placed in a brochure holder on your FSBO yard sign, on bulletin boards in neighborhood stores and restaurants, and given to parties who express an interest in buying your home.
Brochures are your ticket to marketing your home the way no real estate agent will. Don’t make your FSBO brochure look like typical listing ads. Here again, think outside the box and make it more of a personal sales letter.
Emphasize the benefits of home. The view, the convenience of shopping, schools and workplaces. Consider the special features that distinguish your home from others in the neighborhood. When describing the rooms, pay attention to details such as the solid oak flooring or the joinery. Write to the prospect as if you were writing to a good friend.
Keep your brochure holder full at all times. don’t be upset when nosy neighbors pick up your brochures. Very often, your neighbors meet friends who would not mind living next door or close by. And your friends will generally be able to afford a house in your neighborhood. Be sure to step up and tell them to pass the brochure to someone they know.
Distribute the brochure freely to prospective clients visiting your home. This will ensure that they will remember home. After all, they are most likely looking for more than just your property. Color photos will help in this.
And don’t forget your coworkers. Give them your brochures too. After all, it is convenient for you to live at home and they know it. You work with them and you can afford to live there. They most likely have friends who would like a similar home. Ask them to pass the brochure if they know someone who is looking for a great home.
The Internet
You can’t ignore the Internet when selling your own FSBO home. The Internet has become an important search option for potential home buyers.
There are several websites on the Internet that will allow you to publish your FSBO listing. These will vary in price and options for your listing ad. Some will allow you to post photos and update information on your personal “open house.” You will find that the prices range from $ 25 per month and up. Be sure to research your options carefully.
You can also create your own listing website to refer prospects as well. As with your brochure, turn this website into a personal sales letter and include a form to capture contact information for further follow-up.
Make sure you pay for your website hosting. For whatever reason, free websites don’t attract the attention of prospects that real websites do. Hosting can range from $ 3.95 / month to $ 19.95 / month. You don’t need much from your website, so go for the cheapest package as long as it allows you to post a contact form on your site.
Open houses
If the tips above don’t get your home quickly marketed and lead to a sale, you still have the option of hosting your own open house. In many locations, homeowner sales are boosted by having an open house. If you are in a hot or cold market, this can be an excellent tool for selling your home.
Of course, you will have to announce that you will have an open house. This can be accomplished using any of the above techniques. Some local newspapers have a special section in their classifieds for open houses only. Be sure to put a large sign on your lawn on the day of the open house. This will notify others of the event and allow people to find your home easily.
The above tips should make it easier to sell your home quickly. It takes time and some money to market your house ‘For sale by owner’. But you will save money on real estate agent commissions and have more control over your transaction. Be sure to check the laws in your area and the forms you will need to close the deal.