Home Selling Made Simple

Home Selling Made Simple

Table of Contents Introduction...4 Determining Your Asking Price...5 Should You Sell Solo?...6 Tips On Advertising Your Home For Sale...8 Building Rapport With Homebuyers...10 The Importance Of Follow Up...11 Wrap Up...12

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4 HOME SELLING MADE SIMPLE Introduction As we all know, selling a home can be a very time consuming and tricky process. However, we tend to want things right away. Advances in technology have trickled down expectations of instant gratification. So it s no surprise that when it comes to selling our home, we want it done yesterday. Sure, now there are more ways than ever to list or sell a home, but finding the right person interested in your home is an age-old challenge. Moreover, with hundreds of thousands of homes for sale in the marketplace, you will never be without competition. So what s a seller to do? Well, believe it or not, you CAN sell your home in today s real estate market. There are individuals out there searching for a property just like yours you just have to find them and try to attract as much attention as possible. In this guide, you ll find some great information on how you can sell your property quickly, whether you choose to sell your home yourself, or enlist the assistance of a professional. If you put effort into selling your home and follow these helpful tips, then there s a good chance your home will be sold in no time!

HOME SELLING MADE SIMPLE 5 Determining Your Asking Price When it comes to buying a home, most potential buyers will use the asking price as the number one factor to determine whether or not they will purchase a property. Keep in mind that even though you may determine an asking price, the buyer will ultimately determine the selling price. If your property is priced is too high, most buyers won t give it a second thought. However, if you start at the correct price, you ll notice a much faster sale. Setting the right asking or listing price will attract more potential buyers and also an increase in responses from Realtors. Here are six key tips you should remember when determining your asking price: 1. If you sell your home for the right price, you ll notice immediate interest. 2. Utilize the Internet! Do an online search for the property appraisers website in your area and plug in your property address. This is not exact, but should give you an idea of what your property is worth. 3. Have your property appraised before you put it on the market. Property appraisals cost a few hundred dollars depending on your area, but this will give you an exact value of your home. 4. The majority of buyers start out online where they are able to filter out certain price points. Some buyers may miss your home completely if the price is too high. 5. You can sell it for market value or for a little less although you should never attempt to go way over the value. 6. Realtors don t determine the asking price - the seller does. You can ask a Realtor for advice, although you are ultimately the one who makes that decision. If you do things right and take each thing step by step, you ll set your asking price in the right price range and have no problems selling your property. Beware of Overpricing Setting a high sales price for your home is something should avoid, as buyers tend to steer clear of homes that have been overpriced. There are several reasons why many sellers ask for much more than the home is worth. A home s location, for instance, is a very common reason for overpricing. Although the location is very important, most potential buyers won t give the home a second look if the price is too high.

6 HOME SELLING MADE SIMPLE Should You Sell Your Home Solo? Are you thinking about selling your home yourself instead of hiring a real estate agent? Keep in mind you don t have to be a real estate pro to sell a home. The Internet has provided us with access to a wealth of information, making it possible for someone to sell their home by themselves, or without the help of an agent. However, while it may be true that selling a home by yourself can save about 2-6% in commissions and fees, it s important to remember that it is going to take some time and effort on your part. You can choose to market your home entirely on your own, or list your home on a For-Sale-by-Owner (FSBO) website.

HOME SELLING MADE SIMPLE 7 Here are just a few pros and cons when selling your home on your own: PROS #1 MONEY- Selling your home without the help of an agent means more Money in your pocket! By selling it yourself you save the commissions and fees. We are not talking about pennies, we are talking about THOUSANDS of dollars which you would have to pay an agent. CONS #1 TIME CONSUMING- Selling a home takes a lot of energy and time dealing with potential buyers, open houses, closing sales and of course dealing with legal issues. Be realistic. Will you drop everything to make a showing? Selling a home is a big project. You have to deal with not only showings, but also lots of phone calls and emails that are begging for your attention. If you re working a full-time job, this may not be an option. #2 FLEXIBILITY- Another advantage is that you are able to decide the times for open houses and showings. It is also completely up to you where and when you want to advertise. #2 LOWER SALES PRICE- Studies show that people who sell a home FSBO lose out on a good chunk of change. Remember, agents are there not only to list your home but to negotiate offers as well. #3 FOCUS- Unlike a real estate agent who is selling many houses, you can focus on YOUR house, because you are only selling your own house. It is obvious that you will have more interest in the sale than an agent. #3 LEGAL MISHAPS- If you try to sell your home and attempt to just wing it without really looking into all of the possible implications, you could wind up with a lot of tax issues or even extra seller charges. There are plenty of things that can go wrong in the closing of a home. Selling your home is not impossible, but it can be a challenge if not properly educated. But if this challenge excites you and if you are willing to learn, then it is not impossible managing your home sale without the help of a real estate agent. With some energy and know-how, you can sell your house on your own and save thousands. Just don t be afraid to reach out for help when you need it.

8 HOME SELLING MADE SIMPLE Tips On Advertising Your Home For Sale The idea of marketing or advertising sounds fairly simple. You can put a sign here, post an ad there and it will sell right? Wrong. There are so many ways to advertise your home, and if you aren t taking advantage of all of them, you may find yourself sitting on a property a lot longer than you want to. There are many different options you can use, and you should take full advantage of every one of them. The first thing you want to remember when creating ads is that you have to use a number of different mediums. You should use snail mail and email. You can post an ad in the local paper, or on your Facebook page. Within each of these mediums make sure you deliver a strong clear message, and great pictures. Here are the major marketing methods to use: Local Newspapers The most obvious way to advertise is the one you think of first, the newspaper. Although not everyone still checks the paper, it is a pretty easy way to get word out about selling your home. Make sure to use catchy phrases and provide an easy way for them to contact you. Since most people who still use local papers may be less tech-savvy, try using a phone number instead of your email as the contact. Lawn Signs Lawn signs are corrugated plastic signs with a basic message printed on it usually 12 X18 or 18 X 24 inches wide. Your listing agent should have a For Sale sign up already, but if you are selling by yourself, you will need to go out and get these on your own. If you can, have them professionally made.

HOME SELLING MADE SIMPLE 9 Online Classified Sites Try using free online marketing sites like Craigslist. Make sure to include an attentiongrabbing headline, photographs, and sufficient information on the property (number of bedrooms, bathroom, square footage, etc.). Don t forget an easy way to contact you. Blogs If you have a blog, make sure you are posting about the home you have for sale. You can attach the link to your blog in your emails, on your Facebook account, or anywhere else you can think of. If people can read about how you are selling your house, they can connect to you as the seller as well. Social Media If you have a personal Facebook, make sure you are posting about your home sale regularly to create buzz. You never know whom you have in your social network that either knows someone looking for a house, or is possibly looking to buy themselves. Also, make sure you start liking the pages of all Realtors and investors in your local area. This can be useful as well. Remember, there are tons of homes being sold daily. So how do you make sure the buyers choose your home? Quick selling houses are results of excellent marketing skills. Pictures Sell Houses! They say a picture is worth a thousand words, but when it comes to selling houses, pictures are worth much, much more. According to a 2011 joint study from the National Association of Realtors and Google, 90 percent of house hunters initiate their buying experience on the Internet. Twenty-five percent admit that online real estate photography led to the purchase of their current house. Second only to price, quality real estate photography is the most important part of selling a home. It s a good idea to look into professional photography.

10 HOME SELLING MADE SIMPLE Building Rapport With Homebuyers When dealing with potential buyers for your home, you are going to come across a wide variety of people and personalities. Building a good rapport allows you to communicate effectively with people. When you establish good rapport with a potential homebuyer, they will be more receptive to your message. Here are some key rapport-building techniques to keep in mind: Mirror and Match Mirror other people when you communicate. If they re excited, be excited! Echo Their Words Repeat what the other person has said. Repeating last words or ideas indicated that you are interested and understand what the message is. Actively Listen Become an active listener and try to understand. Find Commonality Find out what motivates them to buy a home and share your story as well. Smile Even if you are only talking over the phone, smile. Believe it or not, you can tell when someone is smiling on the other line. It s important to always try and step back and take a look at how you may come across to a potential homebuyer. Listed below are a few excellent traits you should take note of when building rapport:

HOME SELLING MADE SIMPLE 11 The Importance of Follow Up We all get very busy at times, especially during the home-buying process. You will need to remain in the forefront of your potential buyer s minds if you want to be successful. Possibly more important than following up on your marketing is your promptness in returning any calls or emails you may receive. If you have a buyer interested in your home, but they can t get a hold of you, what s the use? Stay on top of your emails and set a scheduled time in each day to actually call back your prospective buyers and give them your undivided attention. If you do choose to work with an agent, a lot of the follow up should be done for you. However, it s always a good idea to stay on top of it yourself as well. Check in with your agent from time to time to see if he or she has contacted your prospective buyers. At the end of the day, the home selling process may not be that simple. There is a lot to it, and it takes a lot of time and dedication. With this guide, however, we hope to have streamlined the process, and gave you some confidence as well. So go out there and sell!

12 HOME SELLING MADE SIMPLE Wrap Up With this guide, we hope to have given you the tips you need to be successful. Here is one last look at the home selling process made simple: Selling Your Home