Presentation on theme: "THE SAGA OF THE FOR SALE BY OWNER REASONS FOR THE “FOR SALE BY OWNER”"— Presentation transcript:
THE SAGA OF THE FOR SALE BY OWNER
REASONS FOR THE “FOR SALE BY OWNER”
1. Save the Commission
2. Afraid of Salespeople 3. Confident Can Sell Without Professional Help
4. Prompted by Others 5. Do Not Know A Good Agent
Attitudes: If Can’t Sell, Can Turn It Over to a Realtor Have To Net X Number of Dollars Can’t Afford to Pay a REALTOR
Finding a Buyer is Only Part of My Job
1/3 Listing Marketing Advertising Promoting Showing Your Property Negotiating the Sale Arranging Financing Appraisers Inspections Closing There’s more to completing a sale than just finding a buyer.
Why Selling “BY OWNER” Is Difficult.
You Have Only 3 Ways to Attract Buyers 1. Classified Advertising 2. Open House 3. For Sale Sign Open House Today 1-4 BY Owner 3/2/2 Great Location! Must See! Call Mr... Seller FOR SALE BY OWNER
You Must Give Your Address. Buyers can Drive-By Without Seeing Inside.
You Have But One Property to Show
Other F.S.B.O.’s Weaken Your Position Even though your ad may not read like this, you are categorized with them.
What Kind of Buyers Do You Attract? INVESTORS People who know what they are doing “No Money Down”
Looky Loos The Perpetual Shoppers Bargain Hunters People with very little money
BARGAIN PRICE Sales Price -Subtract for Realtor fee 6% -Subtract from remaining asking price another 2%
Direct Contact Can Weaken Your Position Your Enthusiasm in showing your property can be interpreted as being anxious to sell.
Are You Familiar with Contracts? Residential Contracts FHA or Conventional? Lien Waivers Title Search Amendments Property Disclosures Temporary Leases Closing Costs Lender Required Repairs Option Periods Etc..... TIMING LEGALITY
For Sale By Owner Myth Gee, with the money we save on the commission, we could... Over 90% eventually list with a Realtor. Hire a Broker like you would hire an accountant or an attorney.
What is the Multiple Listing Service? The Entire Dallas Association of Realtors is working for you.
Home Search by In Office Computer. There’s a 95% chance your property will be sold as a result of the computer.
Where do buyers come from? 40% Firm name recognition or Salesperson contact. 20% For Sale Sign. 18% Responded to Ad, but purchased different property. 8% Respond to Open House, but purchased different home. 7% Referral by Relocation Service. 3% Bought Advertised Property. 1% Bought Open House they saw. 3% Bought for combination of reasons. Agents show properties that are good buys.
Knowing Financing is very Important! There are over 300 different financing methods. A REALTOR CAN: Answer your questions Find the best available terms tailored to your requirements Get Preferential service by lending institutions Knowing Financing can get your property sold!
Professional Cards, Brochures, and Signs PROFESSIONAL IMAGE MARKETING POWER
103 Point Marketing Plan Customized For Your Property
Express Over 250 agents will know about your property Coming On the market Within the next seconds… NEW HOME FOR SALE
24 Hour Availability Buyers can obtain information while you are at work or out of town through the use of our HotLine Technology
We want to Create an Auction-like Feel
Virtual Tour of Your Home This is an OPEN HOUSE 24 Hours a day 7 Days a Week
Marketing Sessions, Maximum exposure for your Property. Office Meetings MLS Meetings Open Houses Title & Escrow People Lenders Ultra’s New Listings!
Buyers are Pre-qualified Name Address Employer Salary Buyer Wants Buyer Needs Buyer’s Price Range
Buyers compare 18 to 30 homes on the average Realistic pricing increases exposure resulting in a higher sale price
Preparing a home for sale. A Favorable first impression can be enhanced by giving your home maximum “curb appeal”
Fact: Top Condition Gets Top Dollar and a Faster Sale EXTERIORINTERIOR Front: Back: Freshly trimmed lawn and shrubs add potted landscaping flowers Freshly painted or Touched-Up exterior, Clean Sidewalk, Driveway Clean Pool, Deck. Pick-Up Toys Tools, etc... Clean Carpets, Paint, Clean off Kitchen counters, repair dripping faucets, shine linoleum Replace worn Tiles, etc... Clean garage, attic.
Your Home is Shown By Appointment Only Hello Ms. Smith, This is Ultra Real Estate We have an Agent that would like to show your home today between 3 and 4, will that be OK?
When your property is being shown. Keep Drapes and Shades open Have Lights on Have soft music playing Keep toys in children’s room Tidy up- neatness makes rooms appear larger Let the agent do the talking The Prospects first Impression is mostly important
Follow-up and market feedback. We Follow up to determine prospects interest Agent seller communication is essential.
Earnest Money deposit One more safeguard to assure a successful sale.
Should you list with the highest bidder? Some Agents will promise Anything To get listings.
The Four Things that make a Property sell. Location Price Terms Condition Even though you may not have to sell, You are competing with sellers that do.
How do most sellers price their properties? FACT: A buyer is more likely to make a full price offer on a home that is priced right before making a low offer on a home that is priced too high.
Accurate Information to base a decision. Properties for sale now. Properties recently sold.
How much is your property worth? Only as much as a buyer is willing to pay. Right Priced Properties sell faster and at a higher Price $ 99,000 $ 119,000
Dangers of Over-Pricing It will take longer to sell
You will have fewer showings You will receive lower offers
YOUR PROPERTY WILL HELP SELL OTHER PROPERTIES
How Long Will It Take To Sell? Sold Within 1 MONTH40% 2 MONTHS 7% 3 MONTHS 7% 4 MONTHS 20% 5 MONTHS 10% 6 MONTHS 7% 7 MONTHS 9% IF YOUR PROPERTY IS NOT SOLD WITHIN 30 DAYS, A PRICE ADJUSTMENT SHOULD BE MADE.