(Business listing) What is a Private Sale?

August 3rd, 2009 admin Posted in business |

By Barton Simmons

When you chose to sell your home privately (without the help of a real estate agent), most likely it’s because you wanted to save some money. A research shows that selling a home privately can save as much as $9000 during the home selling process. Don’t let this fact sway you, though. A qualified real estate agent costs a lot because they have experience in the market and is more likely to give you a more secure price of your home. An agent also wins in network; being able to reach people who’s looking for a house, or can help selling one.

Selling a home privately will also affect the marketing process. If you sell your home without the help of an agent, it’s not likely that you’ll have access to Multiple Listing Services - a database full of house listings given out to homebuyers. You might need to get the buyers in some other way, like holding an open house or putting an advertisement on local newspaper.

Furthermore, when a buyer sees that you are selling your home privately, they will offer a lower price, because they knew you’re already saving money from not hiring an agent.

On the other hand, it is understandable that some people can not trust other people to sell their home. Selling your home privately means being in total control of the transaction. You know that you will always be available for questions or home showings. Whenever you made a mistake, it’s yours and only yours to blame (trust me, a mistake that costs you nothing would still feel better than an expensive one).

When you’re sure that selling your home privately is the way to go, there are some extra preparations you need to do. Take extra measures in preparing your house. Remember that you’ll be competing with professional agents and their clients’ houses - make sure you have a chance to stand out! Find websites that provides a “selling by owner” kit. Get as maximum exposure as possible

You also need to get educated in legal requirements and contract making. This will take some time, so get help from an attorney and start researching way behind your selling date.

Selling a home privately is a tricky business. Some say that you’re able to sell your own house if you have three free hours every day of the week. With a little bit of work, you’ll manage to put that much-needed money to better use.

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How to Market Your House for Sale

By Barton Simmons

When you want to sell your house, it’s essential that you pay special attention on marketing your house to homebuyers. After all, marketing is the way to get people noticing that you’re trying to sell a house!

But for agents, it’s an entirely different deal. On each call generated by a marketing of your house, there is an opportunity for the selling agent to take them as clients. The more calls your house generates, the bigger possibility of the buyer’s agent to get clients.

Although the reason is different, marketing your house to homebuyers will always be a big deal for all aspects of the sellers’ side. You might want to confirm that the agent handling your house advertisement runs ads in magazines and local newspapers for that matter. Prepare the advertisements with well consideration. Pick out a good picture of your house. List the features homebuyers would look for. Also check that your advertisements go to the local Multiple Listing Service, as this is considered the most powerful marketing tool you can find.

If you feel like the agents are not doing a good enough job, put some efforts in marketing your house yourself. Create fliers and postcards announcing your home selling and spread it in the neighborhood. Your neighbors may not want to buy your house, but there’s a chance they know of a homebuyer. And because they already know the environment, they’ll make perfect salesmen for your house! “Word of mouth”, as always, is the most effective step you can take at the cheapest price.

Following the announcements, you might want to set up an open house that doubles as home showings. The bad thing about this is that most visitors of an open house are rarely homebuyers - some of them just followed the “Open House” sign and went in for no reason. But it’s still a good extent for your “word of mouth” campaign. It might even create interests from local real estate agents to list your house. But try not to organize an open house as an alternative when your house has been in the market for some time. Most of your neighbors would already know that you’re marketing your house to homebuyers and the open house would attract even less visitors.

Whether it’s with an agent or by yourself, you would always want to be involved in marketing your house to homebuyers. In home selling you will be competing with thousands of other houses, and who’s better to flaunt the features to homebuyers than the one who’s been living in it?

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