February 01, 2010

FSBO Selling Tips

If you are ready to sell your property and want to try it on your own before committing to list with a local Realtor, below are a few tips that will help better your chances of successfully selling your property.  And also, a few tips you need to do BEFORE you try to sell.

Before Tip #1: Get a Home Inspection

Hire a good local home inspector to review your property and then fix everything that they find that needs attention.  This will help.  And don't worry, I can assure you that when the buyer's home inspector comes through, they will find more stuff.  This will just make it much easier to deal with later.

Before Tip #2: Know Why You're Selling

Sounds dumb, I'm sure, but why you're selling is very important to the success of selling.  Your marketing will depend on it.  Marketing to get top-dollar is different from marketing for a quick sale.  Also, if you're putting your house for sale because you're facing a possible foreclosure, STOP THINKING FSBO, and call a Realtor that specializes in your situation.  Read this ARTICLE for more information.

Selling Tips

1. Buy a few books on Home Selling and Home Marketing.
2. Set your price by researching it on the Internet, and by reviewing other homes in your neighborhood or area that are listed for sale.  You may also be able to research your county's tax office to see what other homes have sold for in the past.
3. Setup your marketing budget and your marketing plan.  Marketing will usually cost a minimum of $1000 to effective showcase your home, and frequently more.  This includes such things as daily and Sunday edition newspaper ads, signs, flyers, a property website, Internet listings, local magazine listing, etc. This does not include the cost of using a flat-fee MLS service, which usually runs between $400-1000.
4. Be prepared to take phone calls.  Buyers want to talk with someone when they call.  Most will not leave messages.  If you will not be available to answer the phone, make plans for SOMEONE to answer.  You may have to hire an answering service for this.  The first contact with a prospective buyer is usually the most important.
5. Pre-Qualify potential buyers.  Before you let someone in your home, you need to make sure that they can actually buy it and that they are actually interested in buying.  Some basic questions to ask are, "have they been pre-qualified for a mortgage?" "if so, for what amount?" "Do they have a home for sale?" "Is it under contract or still listed?" "If under contract, is their buyer pre-qualified and do they have a home to sale?"
The next two points fall into marketing, but are too important to simply lump them in.
6. Buy a professionally made yard sign.  Stand out from the usual red and white "By Owner" sign.  Not only will it get your property noticed faster, a large typed phone number is much better than a small, rain-smeared hand-written one.
7. Take good quality digital pictures of your home.  These will be the main source material for all your advertising, so make the shots count.  You may even consider hiring a professional photographer to do your photos as in many cases, what the buyer sees in the pictures determine whether or not they even call on your home.

You can find more information on home selling at www.HickoryNCHomes.com

Roger Johnson is a Realtor with CENTURY 21 American Homes in Hickory, NC.
I service the Catawba and surrounding counties, and the Hickory, Newton, Conover, Taylorsville, Claremont, Statesville and Charlotte, NC real estate markets.
You can contact me via Email or give me a call at 828-270-9330 or 828-568-2121 ext 310
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