| |
| |
|
Real Estate Information |
|
|
|
Selling by Owner = Saving by Owner?
According to the National Association of Realtors, For Sale By Owner (FSBO) home sellers comprised nearly 14% of all home sales in the United States in 2003. The Boston Globe reported that nearly 25% of homes sold in that area during that same time period were FSBOs. Although many FSBO home sellers have saved thousands of dollars in commissions, many others have lost money, and current statistics show that 80% of FSBOs will eventually list their homes after unsuccessfully trying to sell their homes themselves. However, if you're thinking of trying to sell your home without the aid of a real estate agent, here are a few tips for getting the most from the experience: Leave Your Emotions Out of Your Sales Process Selling your home often can be a painful experience, so it's important to emotionally detach yourself from your house and try to think of it as an investment in your future. Try not to be affected by unkind remarks you may hear from prospective buyers trying to get you to lower your price by attacking various features of your house. And although you should call your house a "home" to prospective buyers, think of it as just a "house." Set the Right Sales Price Of course, you want to get the highest price possible, but pricing your home too high will keep it on the market too long, which will lead people to think there's something wrong with your house. Look at the other homes being offered for sale in your market and compare them to yours, in terms of square footage, number of bedrooms, lot size, and other features that are similar to yours. Be objective, and then price your home according to your findings. You might consider setting a price range, instead of a fixed price, if you're considering helping potential buyers with their closing costs. Advertising Signs: Pick up directional signs at a home improvement store, list your phone number and the address of your home on them, and then display the signs in prominent places around your neighborhood. Most buyers use the services of a Realtor to look for a new home, but if your home's in a desirable neighborhood where other houses are also for sale, potential buyers may see your signs and come back later to visit your home. Place a professional-looking sign in your front yard, featuring your phone number in print large enough to be easily read from the street. Flyers: Think like a marketing guru and create a sizzling sales flyer, listing all the benefits and features of your home. Newspapers: Pick up copies of all the newspapers and advertisers in your area, and look at them, imagining that you're the one looking for a home in your area. Then create an ad of your own, copying ads that most attract your eye. Make sure to list benefits to potential buyers and not just the features of your home. Showing and safety: Ask prospective buyers for their phone numbers before you give out your address over the phone, and then call them back to verify the information. Also, make sure to have someone with you when you're showing your home to strangers. If you find that you need to turn to an agent for help, here are some tips for finding the right one to sell your home: Bear in mind that many real estate agents will make unreasonable promises to sell your home for a high price, but they're only hoping to get the listing. Like buying anything else, you need to be informed, so it's important to compare services. Interview several agents, ask for referrals from satisfied clients, and then call those home sellers. Saving On Real Estate Agent Fees You also have the right to negotiate the broker's commission. Since most homes are sold by a selling agent, rather than the listing agent, why pay 3% to the listing agent for just listing the home? Ask for a 1% listing commission if the agent does little to market your home. You might also offer to pay less to the selling agent--2.5% is a common percentage in high- priced areas--or point out to potential listing agents that since your equity is less than the selling price, you want to pay a percentage based on that figure, rather than on the sales price. Most areas also have flat-fee brokers. Some will charge a percentage of the sales price, while others may charge as little as a flat $395 to list your home with the Multiple Listing Service. Decide which services you're actually going to need, such as yard signs, showing help, and contract preparation, and then match your needs to the services offered. Selling your home yourself should mean that you save money on real estate fees. But if you're not a savvy salesperson, you could actually make more money and sell your home faster by hiring a go-getter real estate agent. (c) Copyright 2005 Jeanette J. Fisher. All rights reserved. Professor Jeanette Fisher, author of Doghouse to Dollhouse for Dollars, Sell Your Home for Top Dollar--FAST, Home Staging, and other books teaches Real Estate Investing and Design Psychology. For more articles, tips, reports, and newsletters, see http://www.sellfast.info/
MORE RESOURCES:
Real-Estate - Google News |
|
|
|
RELATED ARTICLES
Buying a Newly-Built Home? Ten Benefits of Using a Real Estate Professional It might not seem necessary to involve a real estate professional in a transaction where a buyer can deal directly with a builder. However, by using a real estate professional, you have someone to protect your interests and guide you along the right path. Customer Service - The Real Estate Revolution Traditionally, real estate has been viewed as a sales industry. But perceptions are changing. Condo Hotels Offer Luxury and Great Investment Potential Not Your Typical Vacation HomeWhat could be more perfect that owning a luxury vacation home at a landmark resort and receiving rent revenue whenever you're not using it? Condo hotels are the newest trend in vacation home ownership. Live in it when you're there; rent it when you're not. Selling Your Own Home: 10 More Tips Selling your own home can be a time-consuming and frustrating process. Sometimes, though, in the right market, it makes sense to save thousands of dollars in commission and do it yourself. Nobody Loves A Landlord The typical landlord starts off life as a light hearted real estate investor. The investor is brimming with enthusiasm and is determined to acquire some single family homes that will be attractive to renters. When Showing Your Home Here below are some of the reasons why buyers may be put off when visiting your home.1. If You Move Yourself You'll want to take some items in your own car when you move, and that's true whether you're hiring a mover or doing the job on your own. You'll hand-carry jewelry, medications, house plants, pets and a suitcase for each family member. Setting Goals for Real Estate Success The power of goal setting has been well documented and communicated so before you skip over this point because you've heard it all before I'd like you to consider how well you are doing it. I'm a firm believer that you don't truly understand something until you are doing it. Death, Taxes, and Foreclosures So how do you find the best foreclosures. Its not easy as the business is very competitive, especially in this current crazy real estate boom. Join the Bulgarian Property Boom With Confidence An Irish property investor in Sydney, Australia has created an investment kit that provides potential buyers with all of the relevant facts, figures and information to confidently buy Bulgarian property, which grew an average of 30% in 2004. "Bulgarian Property - The Overseas Buyers' Kit" contains a complete guide to the tax and ownership laws, calculators and various information-gathering templates. Should You Accept A Full Purchase Offer For Your Note or Not? You could be facing a dilemma when considering payout options on selling your mortgage note! To accept a full purchase offer or a partial purchase offer is not always an easy decision.Sure, to take the full purchase option is an easy decision to make if you're holding a second position note on a property that doesn't have any equity after you add the first and second mortgages, but what if that's not your situation? Full purchase payouts can be good if your primary concern is to just get out of the note and be done with it. Real Estate Growth: How Long Will It Last? There has been speculation in the media recently about the fact that real estate will begin to fail and implode as it can only handle so much growth. In my humble opinion these theories don't hold a lot of merit and here is why. Real Estate Value: Knowing yours is Key to Mortgage Success The value of the real estate you own, whether it is your personal residence or an investment property, is critical to your mortgage and financial success. If the balance on your mortgage is close to or higher than the value of your property, your real estate is not the financial machine it should be. Buying and Selling Distressed Houses for Maximum Profit (Update) If you want to become a real estate investor, find a "fixer-upper" owned by an anxious seller. Finding distressed houses at bargain prices, fixing them up, and then selling them on a consistent basis can make you a multi-millionaire. Part 1: FAQ's From Media Interviews With Real Estate Author Do you feel there is going to be a real estate bubble?Nash: No. Are some coastal and resort markets over-heated, yes. Curb Appeal First impressions do make a difference when selling your home. Oftentimes, before making the phone call to schedule an appointment, a homebuyer will drive by your home to determine if they may be further interested. Types of Listings with Agents There are several different types of listing contracts. Few of them are detailed below:Open ListingThis type of listing is when you, the seller, don't want to commit to any one particular agent and when you are also open to selling the home by yourself. Selling Investment Houses: Props & Profits New Marketing and Design Psychology ideas help you stage homes for sale to motivate buyers and generate top dollar. Instead of leaving investment houses vacant, my husband and I add a few props to increase our profits. Are You Tired of Tenants, Toilets, and Trash? Wouldn't you rather go to Tahiti? Are you a landlord with rental property whose value has significantly appreciated? Are you ready to cash in those profits and take that trip to Tahiti?Before selling your property, check with your accountant who will tell you that you will be paying $60,000 in Capital Gains Tax to Uncle Sam. Your accountant will also tell you that adding another $20,000 to your income by that sale is called recaptured depreciation. Is Housing and Real Estate Bubble Hype Irrational Exuberance? Not so, says the author of this article and four real estate books including the recent "1001 Tips for Buying and Selling a Home". The upside of the hype is for real estate consumers and investors.
|
 Home  Contact
|
| Real Estate Information © 2006 |
