Sell Your Own Home Part 2

Investment Articles,
Investor Strategies
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Sell Your Own House

101 Tips for selling your own home ... without resorting to property managers or real estate agents!

articles and information about real estate and property investment.

Category 1: Knowledge is Power

Property Selling Tip #1: Before anything else, grab a powerhouse of knowledge.

If you’ve decided to dispense with a real estate agent to avoid paying those ridiculous commissions, then start thinking like one.

How? Three to six months before your target sale, bone up on home selling strategies. If you have friends or colleagues who’ve worked in real estate, talk to them, but don’t tell them you’re thinking of your selling your house so they won’t try to convince you to do otherwise.

Ask them about mistakes they’ve made or mistakes that their relatives and friends have made. Survey the entire landscape. Personal experiences are always an excellent source of knowledge and strategies.

Property Selling Tip #2: Be a listener, and be a GOOD one.

Hold casual conversations with at least 3 real estate agents who work in the area where your house is located. Be attentive to what they say about location. It’s helpful to know how much your civic address is worth.

While location is the predominant argument in real estate, this rule may not always apply. Perhaps location is the least of your potential buyer’s worries. Don’t overlook the fact that buyers have typical and unusual reasons for buying a house. Many have jumped into the arena of investment property.

While most people buy houses so they can live in it, there are those who like to play the market and want to make a killing. Sell your house with an open mind. Don’t let the factor of location discourage you, or encourage you too much.

Property Selling Tip #3: Basic rule: don’t get locked out of the market because you’ve overpriced your house!

Continue building up on that knowledge base: make it a daily habit of reading real estate ads everyday. Get the average selling price of a house identical to yours.

If you have the luxury of time, you may even want to drive around these houses for sale and judge for yourself whether or not the price they’re asking is justified.

Some homeowners have illusions as to what their houses cost. Is the price they ask reasonable, or way out of proportion to the looks and location of the property?

Property Selling Tip #4: What are the ads saying?

Get a feel of how real estate ads are worded:

What are the key words and phrases?
What ads caught your attention?
Why?
Does the ad sound credible?
Does the ad provide adequate information to provoke interest, or does it leave the reader indifferent?

Use these ads as a model for your own.

Selling Real Estate - The Buyer's Perspective

Selling your house quickly and successfully requires that you see a piece of property through a “buyer’s eyes”. How do you do this? Well, put yourself in the buyer’s shoes. What does he/she see about your house that you haven’t noticed yourself?

One real estate broker said that a trick she’s learned in getting sellers to think “out of the box” is to take them across the street from their house, and then asks them to give their house a long hard look, and spot things they’ve never noticed before.

When this exercise is done, she then takes them on a detailed tour of their house: front yard, back yard, side alleys, garage, bathrooms, the whole look-see. This way, they come up with a list of repair jobs that need to be done before they can even think of putting their house on the market.

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