1. Setting the right price is most important. In today’s competitive real estate market, buyers have access to more information than ever before. You have one chance to make a good first impression. In determining your asking price you should calculate the average sales price to list price ratio in your neighborhood. If you’re serious about selling your house on your own you may want to offer a buyer a price incentive. After all, the buyer you’re looking for isn’t using a broker either. National statistics indicate that FSBO’s usually net about 9% less than what they could have gotten by using a broker/agent.
2. Create your marketing plan. An ad in the paper, a sign in the front yard and word of mouth is a good place to start -- but where do you go from there? The more qualified buyers that you expose your property to, the higher the odds of finding a buyer that’s willing to pay your price. My marketing plan contains advertising on Facebook, Nextdoor, Instagram, LinkedIn, plus over 1,000 websites. Plus, I have a real estate sign that advertises your home 24/7. Take a look at the image below. The sign holds 6- 8 x 10 images. When I list a home, I display the high quality photos of your home from the photo shoot here and any contact information. I also feature a lender and their contact information so passers-by can get a pre-approval.
3. Preparing your product. Many factors come into play in preparing your property for showing. Declutter, depersonalize and clean! Less is best! Reach out and I can give you some cleaning companies me and my clients have used to help you prep for sale.
4. Four questions to ask every caller: (1) Are you pre-approved? (2) What’s the name and phone number of the person who pre-qualified you? (3) How much did you pre-qualify for? (4) What’s your possession deadline? You have to separate lookers from buyers. You don’t want to wind up entering into an agreement with somebody that down the road doesn’t qualify to buy your property. Did you know pre-qualified and pre-approved are 2 different things? Ask me about the difference!
I’ll be happy to put you in touch with one of my preferred lenders to help you screen your callers and get them the pre-approval they need to buy your home.
If you need more advice, reach out to me.
Dawn Marano
401-232-4300
Stay tuned for Part 2.