Selling your home without the assistance of a real estate agent can save you a significant percentage of your home's value in real estate commissions. However, it can be a challenge to take on this role yourself, and you may find yourself floundering when it comes to marketing your home without the benefit of someone to schedule open houses or negotiate with buyers' real estate agents. Fortunately, with a relatively small financial investment, you should be able to market your home for sale on your own. Read on to learn more about effectively marketing your FSBO home without spending a fortune.
Purchase large, professional signs
Clear and effective signage is one of the most cost-effective ways to market your home. In addition to a For Sale By Owner sign in your yard that's large enough to be easily seen by passing traffic (and that contains all pertinent information, like square footage and price), you may want to get a few medium-sized, full-color signs to post on public billboards around your city. These inexpensive investments can get you face time with passing traffic and may lead to impromptu open houses that could end in a verbal offer. Companies like The Sign Source may be able to help meet your needs in this area.
Use social media to your advantage
Creating an eye-catching and appealing online advertisement and then blasting it to every social media network available, along with email lists, can get your home viewed by thousands -- if not tens of thousands -- in your area and across the globe. The more views your home listing gains, the more likely it is to be snapped up at close to listing price (or even well above listing price if you're in a hot market). Taking advantage of your personal and professional connections to get a wider audience can ensure your home spends a minimal number of days on the market before closing.
Using social media and eye-catching signs can be especially important in the FSBO context, since you won't be able to have your home listed on the multiple listing service (MLS) in your area. The MLS is the province of registered real estate agents and provides an easily-searchable database of real estate listings that include photos, blueprints, and other information not readily available to the general public. Since your home won't be on the MLS, you'll need to provide as much information and as many well-staged photos as possible so that your home's listing can be competitive with those generated by real estate agents without necessitating the same commission rates.
Share17 December 2016
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