Developing Your Marketing Plan
GETTING THE HOME READY
A potential buyer should have a good impression of your home. Chipped exterior paint, loose gutters, overgrown shrubs and lawn, marred interior walls, cluttered closets and counters, and stained or dirty carpets are simply unacceptable to home buyers. These are all examples of problems that are easily resolved with very little expense. The objective should be to get your home in good condition with minimal expense. Make the decision of what must be replaced or repaired and get it done. Painting some, or the entire interior, is usually necessary and should always be done. Fresh paint is clean and clean is mandatory. Clutter must be eliminated because clutter, whether it’s in the closet, on the counters or on the walls, closes-in space and will make any space look smaller. In some situations, it can be advisable to even remove some furniture. If you’re selling your home because you need more space, then chances are you have more furniture than the home can really accommodate and probably, more clutter. The feeling someone should have when they enter your home is that it’s well maintained, spacious and clean.
Getting your home ready to market does not mean renovating. In fact, it’s probably the worst thing you can do because you most likely will not recoup the expense of renovation. The most recent national figures provided below indicate the cost vs. resale value for various home remodeling projects.
If you decide that remodeling a certain area of the home is absolutely necessary to achieve a sale, then make sure that the job conforms to the home and the neighborhood... in other words, don’t over-remodel. Homes that overachieve in their neighborhoods often underperform on the resale market.
MARKETING THE HOME
You’ve got a house to sell and it’s time to let the world know it. First determine your budget. Recognize that you may well spend $500 to $1,000 advertising your home. Next, target your market. Answer the question: "Where do people find homes for sale in my price range"? Don’t waste time, effort and money advertising in a local daily or weekly paper when you’re trying to sell a $150,000+ home... it's not where your buyer is looking.
SIGNS
Many buyers find a home simply by riding around in the neighborhood where they would like to live. Many homes are sold as a result of signage alone and its value should not be underestimated. Quality signs do not "cost" they pay. See a huge selection at www.FSBOstoreUSA.com.
ADVERTISING
FOR SALE BY OWNER PUBLICATIONS
Many cities around the country have for sale by owner magazines and publications where individuals advertise their property. Information about these publications can be found on this web site and you should definitely consider using their services. A leader in the midwest USA id www.fsbo-kc.com . This is very targeted marketing. The publications are broadly distributed in high-traffic locations such as local grocery, department and discount stores, as well as banks, restaurants, etc. Ads in the publication usually have pictures and allow ample space for a description of the property. The cost for advertising in these publications is usually substantially less than advertising in the local newspaper and far more productive. Many of these companies offer other services from professional signs, fact sheets, blank sales contracts, Internet listings, appraisal, and even closing services. Using the services of such a business will substantially minimize the amount of time you would spend seeking these services on your own.
NEWSPAPER
You should consider this as one source for advertising. Provide the basic information especially price, floor plan, bedrooms and baths. Many sellers think they will generate more interest if you don’t put a price in your ad... all you generate is more phone calls from people who probably aren't interested once they learn the price. Target your market by including pertinent information about your home. You do not want people calling you who either can’t afford your home or who want something you don’t have.
INFORMATION SHEETS/PHOTO FLYERS
These are a must-have ingredient in your marketing mix. They should be in a tube or box attached to your yard sign for prospective buyers driving in the area, as well as having them available inside the home. Providing these can substantially eliminate unnecessary phone calls. Information sheets are inexpensive and very powerful. They should provide a photograph and a description of the home...especially unique features.
OPEN HOUSES
This type of marketing is used a lot by agents and builders to generate traffic or to snag new listings. FSBO sellers tend to do extremely well Sundays from 1 to 3pm. Don't waste your time or weekend holding open houses all day Saturday and Sunday. This gets old and boring! Two hours a week is plenty for interested buyers.
If a prospective buyer has driven by the home, seen it in a FSBO publication, online or in the local newspaper, chances are they would prefer a private tour. They already know the price and the amenities of the home. Also private showings allow you to ask questions of your prospect that you probably would not ask during an Open House. Today, most buyers prefer buying direct direct from the seller, afterall who knows the property better than the owner?
INTERNET
Creating a home page and putting your home "out there" should not be an option. Your ad, and your home page, will simply get lost. Advertise on our site that has hundreds of properties for sale, and thousands of active buyers.
HomesByOwner is the site where your home should be advertised. It’s easy to navigate and displays the home exceptionally well. Internet ads should be the same as your other ads, complete with photograph and a full description.
Where you make your money selling FSBO is the commission savings, not how cheap you can market your home. For a fraction of the cost of a commission, you will get 20 times the exposure of any agent MLS listing and sell faster.
Advertising your home on the Internet in today’s world is a must. Over 85% of home buyers shop online. This will not "sell" the property, but it will generate interest. Your job as a seller is to get prospective buyers inside the house. Select a web site where there are active buyers. There are millions of FSBO web sites, but nobody comes close to the one you are viewing right now. www.homesbyowner.com is America's leader. It is also Douglas County's #1 FSBO site.
Invest in quality, professional and easy-to-read yard signage. The sign should clearly say that the home is for sale by owner and should have the owners phone number in large bold print. Do not go to your local hardware or discount store for signs. Presenting your home in an attractive professional way is essential. The sign should also say that the home is shown "by appointment only". There are many reasons for this. You should always be prepared for a showing and setting appointments is the only way to be properly prepared.
To sell fast, curb appeal is critical. Believe it or not, whoever ultimately ends up buying your property will probably make the decision to buy within the first 10 to 15 seconds of seeing! Really. First impressions count in life, and they count when selling real estate.