The Art of Selling Your Home

Selling a home in today's real estate market takes a lot of time, effort, creative thinking and skill. If you decide to take on the task of a FSBO, you should know what you are getting into.  Here are some tips to get your started:

  • Be organized with a good time management plan and lead generation system
  • Have a good marketing plan focusing on online advertising
  • Educate yourself about your local real estate market
  • Have good communication and negotiating skills
  • Research your local real estate laws

Time Management System

If you don't have the time to do tasks like return phone calls and emails, then you may want to use a virtual assistant to help you so you can concentrate on marketing, showing your home and negotiating with buyers and/or their Real Estate Agents.  Learning how to delegate tasks will save you time and money.

Also, when making appointments to show your home, keep your showings fairly close together within a half hour or hour apart so you are not wasting time waiting for buyers to show up. Always get a contact number and confirm the showing.

Lead Generation

Talk to everyone you know and let them know your home is for sale. Have business cards printed and hand them out. The more people that know your home is available, the better chance of attracting a good buyer.  It's a good idea to cooperate with local Real Estate Agents in the area because they have a pool of qualified buyers that might be right for your home. Paying a 2%- 3% commission still saves you money. If you listed your home with a Real Estate Agent, you would have to pay a higher commission between 5% and 7% so you still save money by only having to pay one side of the commission.

Online Advertising and Marketing Campaign

Having a good online advertising and marketing campaign is the best way to find a qualified buyer for your home. Online marketing gives your house the greatest amount of exposure to the largest pool of buyers.  Fizber's revolutionary First National Real Estate Internet Broadcasting Service makes online marketing simple, easy and effective for FSBOS because we add your house to more than 150 real estate related websites giving you the widest range or maximum online exposure. Your home is broadcast online giving you the same exposure as if you were advertising your listing on TV or radio.

When you list your property with us, you can be assured that every potential buyer will come across your ad while surfing the net because your Fizber listing will appear on the first pages of search results in the most popular search engines in the U.S., such as Google.com, Yahoo.com, AOL.com, etc. as well. 

You will also have access to real estate forms, signs and advertising materials such as brochures to promote your home.

Education

Knowledge empowers you to make the right decision about pricing your home. Researching the comparable home sales in your area is a must. You will need this information in order to price your home competitively. Today's savvy buyers use the internet to not only find their home, but to learn how much homes are selling for in the neighborhood. If you don't price your home properly, buyers will recognize this, and they won't make offers on your home or you will get low offers.

You can find comparable home sales information on the Internet, your local tax assessor's website or by having a local Real Estate Agent prepare a comparative market analysis (CMA) for you. There is no charge for the CMA. Another way to find out what your home is worth is to hire a professional home appraiser to give you an appraisal of your home's value.

Communication with Buyers and Real Estate Agents

People skills are an important part of selling your home. You must be able to communicate easily with your buyers and/or their Real Estate Agents. Using the latest technology is crucial. When you list your home on Fizber.com, you have access to cutting edge technology and tools to get your home sold as well as real estate forms, signs and marketing materials.  

The majority of communication today is done by email, especially in the real estate industry. So if you are not computer savvy, you need to learn right away.  You should respond to buyer inquiries within 24 houra so you don't lose the buyer.  Return phone calls promptly as well.

Establish relationships with local Real Estate Agents because they have access to a number of buyers that might be right for your home. You will be surprised about how helpful they will be to you.

Negotiating Skills

Learning how to become a good negotiator takes time and practice.  A good negotiator possesses the following skills:

  • Good communicator
  • Good listener
  • Willing to compromise
  • Friendly and cordial
  • Extremely knowledgeable and organized
  • Knows when to walk away

Keep in mind when negotiating with your buyer that the negotiations should be a win win situation for all parties.  If you cannot make the deal, then just walk away and find another buyer. Not every offer is the right one. You want to make sure that your buyer's motivation is strong and they have the funds to close the deal.

Knowledge of Local Real Estate Laws

A FSBO should consult with a local real estate attorney to find out the local real estate laws in their area before even attempting to sell their home. The laws are complex, and you don't want to make a legal mistake that will end up costing you thousands of dollars later in a lawsuit.
You can also check your local statutes online for helpful information about selling a home in your area.

The above tips will help you avoid the pitfalls and mistakes that many FSBOs make. By pricing your home right to begin with, having a good online marketing and advertising campaign, including social media, learning the local laws and ordinances in your area, and keeping the lines of communication open with your buyer and/or their Real Estate Agent, your home selling experience should be a smooth and profitable one.