In this buyer’s market, what sets your house apart from the others that are for sale in your neighborhood? Currently there are more houses for sale than there are buyers. How can you attract a qualified buyer to your house? You really have only two strong options. Price your house below market value or institute a huge marketing campaign to get your house the most exposure.
Have you taken the time and spent the money to hire an appraiser to find the true market value of your house? In a buyer’s market, what a house sold for 1 year ago isn’t the same as today. An appraiser’s expertise can give you the most information for pricing your property appropriately.
A strong marketing campaign will take into account that today’s buyer is all about instant gratification. They like to see pictures of the inside and outside of the house, they want to know how the house compares to others in the neighborhood, and they want to know this information NOW. Where can they get this information so quickly? THE INTERNET. The best real estate agents have a strong web presence for marketing houses. They spend time and money designing web sites that will bring in buyers from around the country and that will give the houses listed the most exposure possible.
Another element of the NOW mentality of today’s buyer is the ability to see a house when THE BUYER has the time. Are you missing out on buyers because you can’t take time to show the house when the buyer is available? That buyer will probably move onto another home in the Multiple Listing Service inventory that’s easier to view.
According to Steve Arnold of Triangle Home Buyers, “Going ahead with a FSBO requires that you be fully aware of your responsibilities in helping to bring the transaction to a successful conclusion. While a FSBO deal can result in financial savings for the seller, the time expended in arranging the sale of the home is typically greater than most sellers anticipated.” Did you know if you don’t include the right disclosures in the contract the buyer can void the contract at will?
In a buyer’s market, a qualified buyer becomes a precious commodity. Real estate agents take time to find out how serious the buyer is and then work with the buyer and mortgage brokers to qualify them for a home they can afford.
How do you get real estate agents to show your house to their qualified buyers? Offer a Co-op fee. Keep in mind that real estate agents work on commission so they need incentive to show your house to their qualified buyers. Offering a Co-op fee can make your house stand apart from the other For Sale by Owners in town.
Steve Arnold continues to say “FSBO isn’t for everyone and studies have shown that as many as 80% of FSBO listers eventually choose the services of a licensed real estate agent to move their homes.” For assistance with any of the above items call Robert and Barbara Mangum of Coral Shores Realty at (904)743-7679 so that you can get the most money for your investment.