Tips for selling your own home
Not everyone is willing to hire a real estate agent, as they charge a commission, usually around 7%. That means when you sell your own home, you’ll end up with more than $10,000 that would have gone to an agent. And given the slow pace of the current market, there’s a very real chance that your home could sit unsold for a year or more.
Today more than ever, selling your own home can not only be more profitable, but it’s your best chance to sell it fast.
In this article, I’ll show you how to go from “selling your own home” to “I SOLD my own home.”
In a hot market, selling may have been as easy as putting a “for sale by owner” sign in front of the house and collecting offers. But let’s face it, times are tough and most homes sit unsold for months and years.
It’s a war zone out there. Foreclosures are at an all-time high and that creates a lot of homes for sale on the market. To survive in a war zone you need special skills and a competitive edge. With this special training you can SELL your house, despite the doom and gloom of the newspaper headlines.
If you’re selling your own home, you need a secret weapon. And that weapon is highly specialized marketing!
Here’s a terrific marketing tip that will give you a competitive edge over all the other sellers on your block.
Do not include your house in a traditional method. Instead of “starting high” and being talked down to, do the EXACT OPPOSITE. Start small, get a lot of attention, and let buyers drive up the price. I’m talking about a DIY auction style sale.
What works best now is what is called a “robin auction.” Is that how it works:
You will first announce that your house is up for auction. In these tough times, buyers are looking to get a good deal. Auctions are the place to get great deals, and your message will catch their eye.
Next, it will hold an open house for two days only, Saturday and Sunday, from 12:00 p.m. to 5:00 p.m. This will allow you to funnel all buyers through your doors at the same time.
Those who are interested in the property will place their name and phone number along with the price they would like to offer on an “initial offer sheet.”
On Sunday night you call all those people who bid and hold the auction. Simply call the list, tell them the current bid amount, and ask if they would like to raise or pass. You will go round and round making calls until the highest and best bid is presented, hence the name “robin auction.”
Now that you’ve found your buyer, you’ll meet with him and start the paperwork.
That is the only marketing method that is working now. And if you’re planning to sell your own home, there’s no better way to attract crowds of buyers and force them to make offers on your home.
