For sale By Owner Lexington South Carolina   Leave a comment

How to get potential buyers into to see your home – Marketing!

 

Ok, you are motivated to sell. You are confident you’ve got the right price.  It’s time to let the world know.

When you market the home it’s important to understand that you are marketing to two very distinct markets: 1) The buyers out there looking on their own for a home; and 2) The agents who have buyers committed to working with them.

There are disadvantages and advantages to each of those two markets.   The buyers out there on there own will either be looking for a bargain (because that’s what every financial investor guru tells them to look for when shopping FSBO’s) or need a lot of hand holding.   The real estate agents out don’t like to show FSBO’s in general because of the negotiated commission, increased workload, and increased liability. If an agent has other options to show their buyers they will skip over a FSBO like yours in favor of a comparable property listed with another agent.  This is a reality.  So your marketing to the agents needs to show them why showing your home is important to their clients.

Thus the “bragging rights” we discussed in the last chapter.

Marketing is a numbers game. You want as many potential buyers as possible to see your offering and then decide to come see it. Because you priced it fairly you’ll be able generate offers. The more offers your get the more money you’ll put in your pocket.  This means you may have to answer dozens of phone calls and emails for every showing. You’ll need to be prepared to talk with real estate agents and bargain hunters.  You may have to hold open houses every Saturday and/or Sunday for 4-6 weeks.  You’ll need signage and flyers.  You’ll need to be able to talk to people who really, really want your home but can’t buy it because of poor credit, they have a home to sell before they buy, or just plain old can’t afford it.

You have to realize that you may have to show several unqualified buyers through your home… because they lied to you over the phone. All of this is part of marketing your home… and it’s what your real estate agent would deal with if you were working with one.  But you’re not – so you have to prepare for and handle it as it comes up.

What is it that is most important to the buyer?  Because no one cares why you like your home – you’re not the one buying it. You have to understand this key point when you are creating marketing pieces to advertise your home.  I like to suggest you write down the 10 things you liked best about the home and living in that neighborhood. You can expand these points into emotional marketing points that will appeal to buyers. For example if there’s a great family room with a high ceiling you might tell about the large Christmas gatherings you have around the 15 foot tall tree.

The most crucial, important aspects of your home – and why buyers would be attracted to them needs to come out in every ad, letter, flyer or brochure you create to sell it. If it does not come across loud and clear – you have little chance of selling your home.  Ads like “4/2 splt lvl with master on main” don’t sell.  “Room to roam in this expansive home with huge master suite on the main level” is more attractive and descriptive.

The first step in marketing is your “For Sale By Owner” sign. The quickest way to get one is to go to a local sign maker that the real estate agents in your area go to for their signs. You can call a real estate company for this info. The sign is part of the curb appeal and first impression so don’t chinch on it.

Next it’s time to prepare a flyer. I suggest both a printed and electronic (.pdf preferably) version with the price, the address, bedrooms, baths, square footage, lot size, some pictures, and the main emotional selling points.  Make sure you post ways to get in touch with you (email, cell phone at a minimum.) You might also create a single address webpage.

Next it is time to get the word out.  The best place to start is with everyone in your “sphere of influence.” This includes all your neighbors, friends, relatives, co-workers, church and little league contacts, etc…  Facebook, email, text them all with an electronic flyer announcing your home for sale.  It’s amazing how many people you know that know of someone who is looking to buy a home. Many “For Sale By Owners” have had success in the past without having to do any marketing whatsoever… by just telling everyone they know about their home for sale. So please start here and capitalize on all of your personal contacts first.

If you don’t have success with your “sphere of influence” then you must market your home in other ways. Newspapers have diminished greatly in effectiveness as an advertising venue. Unless you have a small home-town type paper don’t waste your money on print advertising. The internet is the way to go.

More soon for online tactics.

Chip Jefferson, Realtor ©
Exit Real Estate Consultants 
Mobile 803-360-0491
www.Chip Jefferson.com

 

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