It’s no secret that today’s real estate market is tough. Concerned sellers are trying to sell their homes themselves. Home property values are down and they desperately want to save the cost of a real estate commission, so they try to market their properties as FSBO (for sale by owner sellers). Makes sense, right?
Yes Yes.”
If you are used to taking responsibility for yourself, have business sense, have bought and sold houses before, have some time and money to invest in the project, and know and can use the tools and techniques that good real estate agents use, then the answer is a resounding and emphatic “Yes!” You have the right mindset and the ability to earn the realtor’s commission. Either the full commission, or just the part that the sales agent would have gotten. Winning is the key word here.
So how do good real estate agents do it?
Good real estate agents start with the basics and work through a well-designed, well-thought-out, integrated, systematic multimedia marketing plan.
property condition
At the risk of driving new clients off the list, good real estate agents tell it like it is when it comes to getting a house in shape to make it look good. If you plan to be a successful FSBO seller, you have to do it yourself. Is it necessary to paint one or more rooms? Is it necessary to wash the carpets with shampoo? Are all door knobs and locks tight and in good working order? Does it have “curb appeal”? Is it clean, tidy, clear? Are the cabinets full or tidy? Have any burned out lights been replaced? If you’re smart, you’ll take care of these types of items before your property goes on the market and keep them in good shape.
Price
Real estate agents who continue to make a living in down markets are very good at getting their listing clients to set realistic sales prices for their properties. A friend of mine, a real estate agent, often asks his clients, “Do you want to list your property or do you want to sell it?” The price can make a big difference in the result, and my friend knows it. A person can put a property on the market at any price. It won’t sell unless the price is realistic.
Buyers exist even in a slow market, but they are VERY price conscious. In areas where the market is weak, it is usually effective to price just below the list price of any comparable home for sale in your neighborhood AND a little lower than recent “sold and cleared” comparable properties in the neighborhood. Time and time again, I’ve seen people make the mistake of going in with a price higher than those things. The property remains on the market. They drop the price over and over, but if they are right behind neighborhood prices and market prices continue to drop, they “follow the market down” without making a sale, even though they are lower than they would have sold a few weeks ago. or months. Try not to let that happen to you.
internet marketing
Realtors post information about the homes they hope to sell on their local realtor Multiple Listing Service (MLS) and on the Internet. The best ones make sure that complete information about price, number of bedrooms, number of bathrooms, number of garage spaces, lot size and location, plus photos of the interior and exterior, and what is available on the Internet. which makes the property attractive. You need to do the same. There are several really good online MLSs for FSBO sellers and buyers. Use one or more of these sites and take advantage of all the conveniences (lots of photos, captions under photos, a place for descriptive text, map of your property, hit counters, a unique web address for your property, etc.) they offer . Today, approximately 70% of home buyers start their search online.
This just begin. In “Realtor Secrets 201”, we will discuss the next steps.