This is the final article in the three-part series of how to sell your house quickly. In the first 2 articles we talked about selling through a Realtor® and selling to an investor.
The final way to sell your house quickly is to sell it yourself. It is called For Sale by Owner or FSBO in real estate circles. This is my least favorite way to sell a house. Most people who sell their house themselves do so for several major reasons.
- Not enough equity in the house to pay a Realtor®.
- Trying to make as much money as possible.
- Do not like doing business through a Realtor®.
- Behind on payments, facing foreclosure, trying to sell fast before their credit gets hammered.
- An investor or landlord trying to sell a house for cash and a quick profit.
In selling a house yourself there are some major factors to consider. Your house will not get the exposure that it does by listing with a Realtor®. Good realtors market well, and also list houses on the Multiple Listing Service (MLS). The MLS is the internet super highway for marketing all real estate. Unless you are very adept at marketing your house will get very few lookers.
So How Do You Sell Your House Quickly For Sale by Owner?
You have to use what I call ninja marketing.
1) Sign the house! I’m not talking about one sign in front the house I’m talking about 40 – 50, yes, 40 – 50 signs on every 4 corner area surrounding the house. These signs should be set up with directional arrows pointing potential buyers to your house. Add three to four signs in the front yard with one pasted in the window. This will drive people to your house. The sign should say “For Sale by Owner” and a phone number with arrows pointing to the house. 18 by 24 inch yellow handwritten “coreoplast” signs will do the job. Put “by appointment only” and the phone number. Most cities have ordinances that allow you to sign intersections during the weekend only. You can leave them up during the week, but they will most certainly be taken down by the county or city workers during the week. Be prepared! Your cell phone will start ringing immediately!
2) Post pictures of your house and a description on the Internet. Craigslist is the best. And there is another website called “Postlets” which posts on several websites. You can also check google and find the best websites that represent your area.
3) Pass out flyers in a one mile radius of your neighborhood. People who live in the neighborhood would love to have their friends or family live in that same neighborhood. That’s why they live there. Also you could hang inexpensive door hangers on all the houses surrounding your house-within a 1 mile radius.
4) When passing out the flyers, list an open house and have an actual open house. Have fresh cookies and beverages and maybe some finger foods. This is a great opportunity to showcase your house. Ask questions to see if those who show up know of any friends or neighbors who might be interested.
5) Another technique is to put a sign in the front yard offering realtors a commission if they bring a buyer. You’ll have to pay 3% to the realtor® if they bring a buyer, but this will save you the 6% that is normally involved in most real estate transactions.
If you are willing to do all the legwork and marketing involved, your house will get some serious lookers. And, you should be able to sell quickly. You will be saving the commissions that you would have to pay a realtor® thus making more money on the sale of your house. Pay 6 percent to the realtors, or sell yourself and save the commissions. It’s up to you!
Next week “how to make money investing in real estate“.