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Thursday, January 24, 2008

How to Market Your Home When Selling For Sale by Owner

By Gloria Smith

If you are sellilng your home for sale by owner you may have an easier time now because of the various marketing strategies available to you. All it takes are some research, consultation with the right professionals and the determination to proceed with the transaction whatever the costs. In other words, you can sell your home yourself, but NOT by yourself. You still need some professional advice to help you along the way.

The first step you’ll need to do is to list down the features of your home that will attract potential buyers. Include the number of bedrooms, maybe some special rooms or perhaps a Jacuzzi or swimming pool, the location, the neighborhood and the proximity to public transportation and other facilities. Take photos of the exterior and interior of your home for use in flyers, print ads and web listings.

From there, you can start spreading the word to friends, relatives and neighbors that you’re selling your house. When they hear about this, the news will surely spread to other people they know who may be in search of a new home.

An open house is also a great way to market your property. Do schedule this activity so you can prepare well for the coming of visitors. Of course, don’t forget that “For Sale” sign on your front yard as a way to inform people who drive by your place.

In addition, be sure to cleanup first from the outside to the inside of your home to make it attractive to your buyers during your open house. Rid of all the clutter around the place, organize your furniture and fixtures, repaint walls and ceilings and make the house smell good. Remember that space and a relaxing ambience are vital to most buyers.

Next is to print out flyers or cards and distribute them in public areas. Your flyer should contain important information about your property, a map and one or two photos if possible. You could save some funds if you know how to make them yourself.

If you have extra budget, you can advertise in the classified ad section of your local newspaper. Keep in mind to use catchy words when describing your home and do include photos as well. You can even offer an incentive like a “finder’s fee” for those who can refer a buyer to you.

You can also hold a garage sale if you’re planning to get a little something from your extra and used furniture, accessories, fixtures, beddings and the like that you no longer need. Many people are addicted to garage sales and you just might find a buyer for your home, you never know.

You should contact a real estat attorney and find out what your state laws are regarding selling your home. What disclosures will you need? What are some common contingencies you should include in your real estate contract? Have a qualified attorney give you advice is priceless!

You should also find a mortgage broker or lender. They will help you qualify potential buyers, and can give you an idea of what a payment might be on your house. Buyers want to know first IF they can afford the payment on your home.

Finally, the web home listing service should never be missed. The internet today has become an amazing marketing tool for any item being sold. There are web listing services that you can use for free or for a minimal fee. A user will be provided with an individual web page where all the information and photos can be posted for a specific period of time.

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