I Think Frank Burns Speaks For All For Sale By Owners
I suspect if you surveyed everybody who is selling their home "For Sale By Owner," they will tell you they get a lot of calls from real estate agents who want to list their home.
It's kind of predictable ... they represent an easy to produce list of people who likely want to move, so it makes sense that real estate agents want to solicit them for business.
While my real estate company also likes to speak to many people selling their home on their own, I can also tell you that I do not subscribe to the industry mantra of telling them they won't succeed.
I believe you can sell a home on your own, and even get top dollar, but you have to do what the best real estate companies do if you want great odds of selling your home.
Selling A Home FSBO
Most real estate training gurus recommend new agents call For Sale By Owners (FSBOs) and attempt to win an appointment for the job of selling the home.I'm not a big fan of doing that.
In fact, I think as an industry we do more to upset and provoke angst towards real estate agents when we solicit FSBOs than we gain in business.
There are always going to be people who like to do things themselves. Often times, a FSBO can save a ton of money if they do sell on their own, so calling them to tell them otherwise only serves to create distrust.
With that being said, let's focus on what I recommend you do if you want to try to go it alone.
You can sell your home without a real estate agent, you just need to follow the five tips outlined above. If you are on the fence about trying it alone, you can always give us a call and compare what we can do with what you'll have to do yourself. For a free market analysis of your home to get started on the right foot, simply drop me a note and tell me the address of your property.
One thing you need to understand right up front is that the only differences between you and a real estate professional or another “For Sale By Owner” are knowledge and experience. Experience is tough to gain but knowledge is available here.
I talk to people regularly that sell on their own. It’s hard work, involves a lot of time, some expenses, and requires a sound plan. This book will help you develop a winning plan and empower you to collect all of the equity in your home. Just tell us where to send it!
5 Tips For Selling A Home For Sale By Owner
- Get Educated - If it were as easy as putting a sign in the yard and running an ad in the paper, 45% of the sellers would not have failed to sell last year with a real estate agent. Take the time to learn everything you need to do to draw the number of buyers necessary to drive your home price up to its fair market value. A good way to start is to download our free e-Book "You Can Sell A Home On Your Own."
- Get Prepared - If you want to get top dollar for your home, you have to create an environment where the best buyer will worry about losing your home to another buyer. This is not something that is done without a lot of planning and preparation. Everything must be ready before a buyer knows your house is available, from pictures to staging, pricing and terms, make sure you have your plan together.
- Set The Right Price - The most common (and costly) mistake made by For Sale By Owners is they improperly price their home. The pre-internet method of pricing high and accepting offers no longer works, as homes are now compared online before site visits even occur. If your home is priced like nicer homes, the nicer homes will get the buyers. Make sure your home is the nicer one.
- Get The Word Out - It doesn't matter how great your home is priced if nobody realizes it is for sale. As a FSBO, you will need to try to replicate the reach of an top Realtor's home marketing plan. When you read the e-Book referenced above, pay close attention to creating a single property website and how you might drive traffic to the home to get the amount of exposure that will bring multiple buyers to your home online. Remember, you ARE NOT looking for "just one buyer," rather you want multiple buyers bidding for the privilege of owning your home.
- Be Available - If setting the wrong initial asking price is the most common mistake made by For Sale By Owners, than lacking availability is the a near-second. Too often we see home sellers that are not available to answer questions when buyers show interest in a home. With hundreds of real estate agents serving that purpose when you list with a real estate company, you need to remember the importance of speed as you try to handle this alone. It can be done; make sure you plan accordingly.
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