How To Make The Most Of For Sale By Owner Strategy

If you were to ask homeowners today, the majority would prefer selling their own property themselves rather than hiring an agent. This is because an average real estate agent would charge 6% of the sale price. If they do it on their own, this will indeed be a huge savings on their part.

 

As easy as it sounds, embarking on for sale by owner strategy, there are things that you should know and carefully consider. First off, you need to know that knowing you are selling the property yourself, it is highly likely that you will get lower offers. Big offers usually come to those who hire professional agents as the customers would give way knowing the owner would still allot for the agents in charge. 

Another thing is the selling of the house may not be as fast as hiring an agent as seemingly you would just use your free time to sell the house. And thirdly, there will still be another cost as you would need to hire a lawyer to settle your paperwork of the sale.

To help you make the most of selling the property on your own, here are some practical tips to learn about "for sale by owner" strategy. 

Negotiating skills. You should start by improving and developing your negotiating skills. You would do all the negotiation since you are opting for this strategy, so might as well do it perfectly. Most agents get great deals because of their great negotiating skills. You can do the same too if you hone your negotiation skills. 

Network of contacts. An important factor in selling is letting the people know that you are selling so they can refer it to friends or whoever is interested in your property. Because you are already fully in charged of this selling stint, you need to reach out to your network of contacts like friends, colleagues at work, neighbors, family members and all the people you know so they can spread the word that you are selling a property. Before you know it, you have a friend of a friend buying your property.

Relocating companies. Relocating companies constantly look for places that their clients could move into. So they are always on the lookout for properties for sale. It would be ideal to entertain the phone representatives from these relocating companies to extend your network. 

Newspaper ads. The power of newspaper ads still remains despite the new technology so to spread more the news that you are selling a property, make sure to spare some budget to advertise in newspapers and other publications.

Social Networking sites. Social networking sites have great influence on people today so make sure to post your property in social networking sites such as Facebook, Twitter, and Pinterest.

Posting flyers. Posting flyers when it comes to spreading news has never lost its touch. It is still effective today so make it a point to print flyers and distribute it to the entire neighborhood.

“For Sale” sign. Posting a “for sale” sign on your front yard would also help in spreading the news. Every passerby would know that you are selling and he can refer it to people.