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For Sale By Owner Sales Tactics

CanadianHomeFind reveals the single most important thing all For Sale by Owner [FSBO] sellers need to know, which will quickly get your house off the market and the money in your pocket.

So, what’s the secret to selling your home fast in today’s market?

CanadianHomeFind reveals the single most important thing all For Sale by Owner [FSBO] sellers need to know, which will quickly get your house off the market and the money in your pocket.

The key to selling a home fast in any market is to price it right. You could spend all the money in the world fixing up and marketing your house, but the wrong price on the right house virtually erases your chance of a sale.

Before you set the wrong price on your home, it’s smart to walk in the shoes of a buyer. Start your selling venture by shopping online for local houses similar to yours. If your house has four bedrooms, a brand new kitchen and no backyard, that’s exactly what you should be looking for. Don’t be tempted to include houses that have features yours doesn’t, because that’s just the kind of ‘misguided thinking’ that starts sellers down the road to overpricing. It really does make a difference in price and buyer opinion that your house has only two baths when a competing home offers three.

Next, invite three competitive brokers to see your home and estimate its value. This is called a Market Evaluation and most Agents do this service for free. Ask them this simple question: “What would I have to price my home at, if I wanted to sell in 30 days?” This is a sure-fire way to get the brokers’ gut reaction, based on what’s happening in the current market. Even the best brokers feel pressured to flatter the seller when asked to price a home; they usually try to inflate the price to some degree, in hopes of convincing you that they can get you a greater return on the house than anyone else. This is a basic sales strategy, for which For Sale by Owners [FSBOs] should be on the lookout! The truth is: the broker who gives the lowest price is almost always right. Why? Because he or she is not trying as hard to buy your business; he/she is stating the facts. And once you do some investigating of your own, you will be in a better position to confirm those facts.

Does this mean you need to ask the lowest price in order to sell?

Absolutely not! It means that you should have an open mind and educate yourself on the facts and market prices in your neighborhood. Then, make an informed decision on what is the most realistic price to ask for your home.

It’s important that you spend a couple of weekends visiting neighborhood open houses. It will give you an instant education on what not to do when marketing your own For Sale by Owner [FSBO] sale. Notice how the competition is showing homes; buyers want to look without being ‘hovered over’. They will also require full information about the facts of the home, neighboring amenities/schools/etc, and the freedom to look on their own. You’ll see that the most important change to make is to get rid of all your clutter. Too much “stuff” makes a home look smaller, and buyers just can’t see past clutter. If they can’t picture themselves living there, the home is going to be a tough sell. Pack and store two-thirds of your belongings, including your extra furniture. Stage your home with the basics only.

Now that you have the Agent’s information, as well as your own data, take out your list of comparable homes that you found online or in your community. Select the five homes that best compare with yours. Average those, along with the three broker estimates given for your house. Now, price your home approximately 10% lower than the number you get. I know, I know, you might think I’m crazy! But I’m not. I have over 25 years experience in helping people get their homes sold. Don’t ever be afraid of underpricing your home, because the buyer’s interest always corrects an underpriced property in the end. It’s called a bidding war for a reason, and you’ll be smiling when it starts. By not overpricing your For Sale by Owner [FSBO] home, every buyer in the area will be flocking to see your house. And more buyers means better prices and faster sales. Happy selling!

If you haven’t already, check out CanadianHomeFind’s Selling Packages. With resources like our Open House Success Guide E-book, you can acheive success selling your Home or Condo as a For Sale by Owner [FSBO].

Categories: Knowledge Library,Sellers