On My Own: Five Secrets to a Successful FSBO Home Sale

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In the United States approximately twenty percent of home sellers complete For Sale By Owner (FSBO) transactions. For many people the cost of a real estate agent could be money well spent elsewhere and to succeed in the FSBO market using all of the tools and resources available to you is essential. Knowledge, planning and a long-term vision can mean the difference between a smooth, profitable sale and a confusing, frustrating and even costly mess. There are five basic secrets to making a For Sale By Owner situation work for you so write these down, print them out, keep them in a safe place even if you won’t use them until later.

Secret Number One: See the Future

If you decide that selling FSBO is for you, make sure you plan to stick with it for at least three months. It is easy to get discouraged or frustrated in the first few weeks and the temptation to quit will rear its ugly head. Take a deep breath and remind yourself that Rome wasn’t built in a day. Marketing and sales is time consuming and takes work; be patient and your investment will pay off.

Secret Number Two: Know Your Local Area

Research and become familiar with your local market conditions. Having an understanding of what is hot and what is not will help you make important decisions that affect the sale of your home. Read the local real estate columns, visit local and national real estate web sites and review commentaries from experts in the industry, ask friends and colleagues to tell you about personal experiences and look carefully at other properties in your own neighborhood.

Secret Number Three: Appearances Matter

Clean up the yard, clean the carpets and update the fixtures. Make sure the house looks its very best and highlight the areas of the home that make the strongest impression. In today’s real estate market, homeowners who place a high value on neatness and cleanliness are generally rewarded with a quicker sell and a higher price. The time and money you spend will save you both in the long run.

Secret Number Four: Know the Law

Although homeowners can complete almost every aspect of a real estate sale alone, it is always safer to hire a real estate attorney to review the legality of your property transaction. In many states, by law, a real estate attorney is required. Every home sale is different and unique. Your sale may call for the skills of a professional and when it comes to your finances “better safe than sorry” is a good rule to follow

Secret Number Five: Creative Marketing

Most FSBO home sellers use traditional marketing items such as yard signs and web listings, but adding some spice to your marketing plan always works. Creativity in this area always benefits a seller. The faster you can reach your perfect buyer the faster you can complete a successful real estate sale. Imagine all the possible ways you are going to find them. Consider posting an ad in the local paper or hang flyers in public places. Network with neighbors and friends and ask them to send emails and mention your property to their friends and associates. Word of mouth can often pay off more quickly than you expect.

FSBO opportunities can give you more freedom and make you more profitable if you aren’t afraid to do the work. For entrepreneurs who long to learn, execute and succeed individually the first complete real estate sale is a thrill. The confidence you build will lead to future accomplishments and the knowledge you acquire can be carried with you. For more information about FSBO and property listings in the Atlanta metropolitan area please visit my web site at [http://www.LivingMetroAtlanta.com].

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Source by Jared Erni

For Sale by Owner?

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The typical commission required by a realtor for selling a home will be around 6% depending upon which area of the country you live and the market trends. This can be a substantial sum of money that home owner’s may not want to part with. Some homeowners will attempt to sell their home on their own, but keep in mind that as much as 80% of homeowners end up listing their house with an agent after receiving little interest in the property. One of the main reasons for this is that realtor to realtor word of mouth is the best advertising out there to sell your home. Even if you successfully market your home, the buyer will more than likely have an agent to whom you will still need to pay a commission or finder’s fee. If you feel that FSBO is the method for you, take a moment to consider marketing strategies that may help facilitate the process.

Pricing your home accurately is the most important step in the process. If you overprice your home, you are doomed for failure. Check out the comparables in your neighborhood. Be sure to take into account any features these homes may have that yours does not. Look at square footage, lot size, and most importantly, the condition of your home compared to others. If the home down the street sells for $50,000 more than another, be sure to find out why, they may have invested in a high-end remodel that justifies the price. If your home is on the market for an extended period of time because it is overpriced, buyers may begin to suspect that there is something wrong with your home.

The Internet is a priceless marketing tool that any one attempting FSBO should utilize. There are many FSBO websites that offer assistance for free or for a nominal fee. Since the Internet offers access to your home remotely, you will need to make sure that the photos you use are well-done and look professional. Most buyers will not even bother looking at a home listing that does not have eye-catching photos. Make sure that your house is truly immaculate when these photos are taken. Trim the bushes, mow the lawn and clear up any untidiness. If a peeling front door is the only thing wrong with your house, the buyer will never know this because they will never come by to look at your home if the initial presentation is bad. First impressions absolutely count in real estate. Take photos of every room in your house and upload them. Make sure that you open windows, hide the clutter and highlight unique features such as a fireplace or built-in bookcases.

Be as descriptive as possible when listing your own home. Buyers are interested or they wouldn’t be looking so more information is better. Put up signs if possible. Advertise in every newspaper and real estate magazine that is reasonable. Send an e-flyer to real estate agents who represent your area and invite realtors for a tour of your home. It is much easier to market a home that they have seen. Make sure that your home may be easily accessed by realtors, if you put lots of restrictions on the access to your home, it will be prohibitive for a sale. Lastly, have open houses. Invite neighbors to the open house; they may have family that would like to live close by.

Selling your home can be a daunting experience. But if you are committed to a FSBO be prepared to do a lot of marketing on your own. Take advantage of every advertising outlet. If you are one of the lucky few who have success with this method, you will have saved yourself thousands in realtor commissions. Keep the market in mind though when considering this option. Selling your home in a timely manner when listed with a realtor may offset the value of saving a few dollars in commission.

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Source by Anita Koppens

Sell House Now Tips and Information – Learn How to Sell a House Fast

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It is now doubt the real real estate market will slow down during the holiday season. This is good for realtors and real estate investors who have been working very hard to help clients buy and sell houses but not so good for buyers and sellers.

If you are in the market to buy a house, December and January can be a good time to pick up some great deals on a house because there are not many buyers. It can also cause an issue for home buyers because the number of available homes typically is lower during the holidays as home sellers don’t want to move during this time.

The cold weather also has an affect on the real estate market. The colder it is outside the less home buyers are out shopping for a great new home and the less number of open houses real estate agents hold. In months when the weather is warm the number of houses for sale increases and so does the number of sold homes each month.

Does this mean you should wait to sell your house until Spring? Well, if you can wait it might be a good idea too, but many home owners need to sell their house now. The truth is life happens and there are many reasons a home you expected to stay in for seven to ten years suddenly becomes a home that you can only stay in for two or three years.

Home owners who need to sell their house fast typically have one of the following reasons: foreclosure, job transfer, divorce, relocation, family illness, short sale, etc. There are many reasons home owners need to sell a home but if you are experiencing any of the above stated issues you are more likely to need to sell quick.

The problem with needing to sell a home fast in the current real estate market is many home owners do not have much equity so selling a house can be very difficult. If you owe more for your home mortgage than what your home is worth it can seem impossible to sell your home. The truth is you still have home selling options. You can have a professional realtor or investor complete a short sale, lease option your home until the market increase or you can rent your house until the market increases and sell then.

It is important that if you are wanting to sell a house you discuss all your options with a real estate professional. Real estate can be a tricky thing to handel especially when you have an emotional attachment to the home. Discussion all your options with someone who is an expert and does not have an emotional attachment can help ease the process of selling a home.

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Source by Shaun Greer

4 Tips For Selling a Haunted House

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Stigmatized properties are those properties that have unfavorable conditions that make them less attractive for selling. Under this group are homes where murders or suicides are committed, where there are previous owners with serious medical conditions, or those homes believed to be haunted. What if your house happens to be haunted and you want to sell it? Do you think this is possible? Here are some tips to help you sell that ghost-inhabited house of yours.

Find special buyers for your special house

Stigmatized as it may be, but it is a special property too. Why? Because it can have a special market. True enough, there are buyers who will be interested in buying haunted houses. There are people who capitalize on haunted experiences for business. There are also organizations which buy stigmatized properties for their paranormal or parapsychological learnings.

Ahead of time, disclose the truth to all possible buyers

Haunted houses have such frightening reputations in neighborhoods and communities. They are usual topics of scare stories. If your house happens to be haunted and you’re selling it, it will be wiser if you’ll let buyers know that it is haunted. Even if you don’ disclose that fact, buyers will readily know from neighbors and other people because it is a common knowledge. Make potential buyers happy with your honesty.

Cleanse the house of negative spirits

There are individuals who have reputations of driving bad spirits away. They can be priests, spiritual persons, faith healers, or paranormal experts. Let any of these persons handle the task of cleansing your house. Let this activity be known to potential buyers. Raise buyer awareness by inviting other people when these activities are done.

Slash the price

Because the property is stigmatized, you have to consider that buyers will usually negotiate for lower prices. Thus, you really have to adjust your selling price into favorable ranges. With this, you are somehow making the house become favorable in at least one factor.

If despite following the above tips, you are still finding difficulty selling the haunted house in your ownership, then you can always tap the help of your local real estate agent.

Real estate agents have knowledge on stigmatized property laws in your state. They can help you disclose facts about the house you are selling. They can also help you in negotiating prices to interested parties as well as with the paperwork necessary to close the deal.

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Source by Desare A Kohn-Laski

How To Find a Real Estate Agent

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You may be of the opinion that you don’t need a real estate agent and that using one will add to the cost of buying your new home.

The fact is that a real estate agent’s fees are typically paid by the seller of the home. So, as a buyer, you can get the services of a professional real estate agent without having to directly pay for it. Please confirm this in any paperwork or contracts that a real estate agent may provide because policies vary greatly by state and company. Be sure to ask about fees when you interview agents.

Most of these agents may work with buyers and sellers but often they specialize in working with one or the other. Make sure the agent that you choose has experience working with buyers and with no down payment transactions.

Be careful if you are speaking with a real estate agent and they don’t seem to recognize terms like “Down Payment Assistance Program”.

Start making a list of possible real estate agents to interview with referrals from your lender, friends and family.

A referral from the lender is great because you get the services from people that have worked together in the past and are already familiar with each other’s systems. This can help prevent any last minute surprises or obstacles.

Questions to ask while you are interviewing an agent:

Please explain your fees.

Are you familiar with any no down payment financing programs?

Have you been involved with no down payment buyers in the past?

Would you mind providing sample contracts so I may review them?

Does it clearly state in the contract who will be paying your fees?

How long have you been a real estate agent?

Do you mostly work with buyers or sellers?

I’m looking for a home in the areas of ______. How familiar are you with those areas?

What specific steps would you take to help me find the home I am looking for?

You should also try to get an idea of these factors while you are speaking with the agent.

– Does this person have good negotiating skills?

– Do you feel this agent is trying to understand your situation so that they can properly represent you to sellers?

– How much knowledge does the agent have about mortgage markets?

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Source by Alex Fir

How to Sell Your Home Fast With Rent to Own!

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If you need to sell your home and need to sell it fast, you may consider selling with rent to own. There are many people out there who want to own a home but that do not presently qualify for a mortgage. If you are having a hard time selling you can take advantage of this wonderful ready-to-move group of people. It is as fast and easy as A-B-C. (Advertise, Barter, Contract)You sell your own home and the tenant buyer becomes a happy and quick home owner. Best of all, you can move on with your life!

A. Advertise to sell your home fast. Place an ad on a free web-site, like Craigslist, in a daily or weekly newspaper, or on local bulletin boards. Describe your home, number of bedrooms, bathrooms, extra features, why you bought it, general location, and any special features. Advertising tip: Lead off with Rent to Own, a sure attention getter. Also, add photo, it is worth a thousand words. Include your contact information, telephone number or email address.

B. Barter. You need to sell your home fast. So, be flexible with the renter/future owner. The tenant buyer is looking at your home to see if it meets his needs and if he would like to invest in it. You are investigating the renter to see if you want to sell your home to him on super fast, easy and agreeable terms. If you have confidence the renter will be able to hold up his end of the agreement, start the bartering process. To sell your home fast, you need your house payment made every month and may want a bit more for anything unexpected that comes up. A deposit is normal to show good intentions and to cover damages if the agreement does not work out. This can be from several hundred dollars to several thousand. The renter may need some time to pay the deposit in full, if it is a large amount. Be flexible, selling your home fast is the goal.

C. Contract. Once you sell your home, you need to document the agreement. You may want to pay an attorney to draft the contract or do it yourself. Many office supply stores have forms that cover the basics and blanks that can be filled in. Many forms are available on-line. Fill in the blanks and sign and date the agreement. Collect the money. Congratulations. You sold your home fast with rent to own!

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Source by Wendy Black Polisi

Do Flat Fee MLS Listings Take Longer to Sell?

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Many property sellers who are contemplating listing their property themselves wonder if their properties will take longer to sell than if they instead chose to sell their properties using the traditional Realtor method.

How long a property takes to sell depends most heavily on the property’s list price. Second most important is the particular Realtor (in traditional listings) or the particular seller (in flat fee MLS listings) and how well they accommodate ALL showing requests. Third most important is how well the property shows and is marketed, along with whether or not a full Buyer’s Agent commission is being offered.

For sold properties in 2012, the average number of days it took for residential properties to sell was:

Okanagan Mainline Real Estate Board: 132 days

Real Estate Board of Greater Vancouver: 53

Our Flat Fee MLS Listing company: 67

The Real Estate Board of Greater Vancouver is the hottest real estate market in BC, so it would make sense that its days on market is so much less than the Okanagan’s average number. Our listings tend to be more heavily weighted with listings in the Lower Mainland area, but 36% of its listings in 2012 were from the Okanagan region. Having said that, it’s quite clear that our flat fee MLS listings sell in roughly the same period of traditional listings.

The takeaway here is that the particular market, the property’s list price, and being listed on the MLS® system is far more powerful than whether or not a Realtor is used to sell a property vs. the seller. It’s also important for flat fee MLS sellers to offer a full buyer’s agent commission to maximize the cooperation from local Realtors. It’s estimated that the number of Realtor showings will drop by up to 90% depending on how much the property seller reduces the buyer’s agent commission that is offered. Therefore, we always strongly recommend that in the Lower Mainland a buyer’s agent commission of 3.255% on the first $100k and 1.1625% on the remainder is offered and in the rest of British Columbia that 3.5% on the first $100k and 1.5% on the remainder if offered.

We are a brokerage and member of the Canadian Real Estate Association. The company specializes in creating flat fee MLS listings and providing the support and guidance to get the property sold. We serve clients located in the province of British Columbia in Canada.

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Source by Shawn R. Brown

For Sale By Owner and the Web

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Unless you have been living under a rock, you know the Internet has radically changed society. In real estate, this has led to a massive surge in for sale by owner properties on the web.

For Sale By Owner and the Web

In the past, choosing to go the path of “For Sale By Owner” could turn out to be incredibly difficult and overbearing. Realtors dominated the market because they had proprietary access to the multiple listing service, known as MLS, and you had to be listed in it if you wanted your property to be seen. Thankfully, the Internet has made selling a home yourself incredibly easy in a variety of ways.

If we flash back 10 years to the pre-internet days, we would find a real estate market that looks foreign to what we have today. In that market, the number one method for selling your home was to list it in the multiple listing service controlled by real estate agents. This, of course, allowed them to get their hooks into you and squeeze out a commission regardless of the quality of service they provided. If we flash forward to the present day, we find a new landscape.

A 2005 study of homebuyers across the United States revealed a fact that most realtors are loath to admit to, but know exists. Over 70 percent of homebuyers shop for potential properties on the internet. Yes, seven out of every 10 are hopping online and finding the property of their dreams. Why? The reason is very simple. Would you rather drive all over town looking at homes that don’t really match what you are after and blowing your valuable time or would you prefer to sit at your computer and click through properties with pictures? Unless you really love driving, the answer is obvious.

In our modern society, time is the most valuable asset. Listing your property on the internet is a huge time saver because it is all point and click. If you are selling, you can upload descriptions and pictures for buyers to view. If you are buying, you can see pictures of both the inside and outside of potential properties while relaxing at your desk. Either way, it beats sitting in traffic while driving all over town.

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Source by Raynor James

For Sale by Owner Property – Where to Spend Money on Repairs and Improvements to Make a Sale

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When you are trying to sell your home yourself, you have to decide how much money you will spend to get the house ready to sell. You should spend no more than is required to make sure your home sells quickly at a high price.

Two areas where you can spend a lot of money are home improvements and repairs. You might want to make a list of all improvements and repairs your house needs, and assign a cost to each.

You must then decide which improvements and repairs you will make. You must consider not only the cost but also the increase in value of each one. If you spend $10,000 will that add $12,000 in value to the house? If so it is worth doing. But if it adds only $7,000 in value it is not worth doing.

Some repairs have to be made, but not all. Even if repairs are listed on an inspection report they don’t necessarily have to be made. You can just reduce the purchase price by giving the buyer a credit for the cost of the repair.

Sometimes buyers would rather make the repairs and improvements themselves. They have particular products they like to use. They may have different quality standards than you have. They usually have their own way of doing things.

What you want to do is consider that every dollar you spend is an investment. Be sure you will get a good return on investment for everything you do.

Some improvement and repair decisions are very easy because they add obvious value and are really cheap. Cleaning carpets and painting walls would fit in this category. There are many small inexpensive repairs and improvements you can make, and these are what you should concentrate on.

If you have any questions, talk to an appraiser who is charged with giving the actual market value of your home for the lender. An appraiser can tell you how much a big-ticket repair or home improvement will add to the value of your home.

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Source by Leo J. Vidal

How to Choose a Realtor – 7 Questions to Ask Your Real Estate Agent

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Buying or selling real estate is probably the most significant transaction you’ll ever make in your life. That’s why it’s important to choose the best Realtor to help you achieve this goal. But before you hire the services of a real estate agent, there are important factors to consider.

Many people have the perception that all real estate agents are the same. Some sign with the first one that comes along. Unfortunately, they realize later on that they should have been more selective before signing an agreement. To guide you in choosing the best Realtor for your needs, below are seven questions to ask your prospective real estate agent.

1) What is your experience in real estate?

The first thing you need to ask a real estate agent is how long they’ve been in the real estate business. It doesn’t mean that you cannot enlist the services of newly licensed real estate agents. Just keep in mind that those who have years of experience under their belts are probably more knowledgeable on what to do, from listing to closing. Aside from the number of years in the business, ask them what segment of real estate they focus on – residential, commercial, luxury, etc. Find out if he/she is primarily a listing agent or a buyer’s agent (or both). Familiarity with the market is also essential, so ask what geographic areas the agent usually covers. You can even dig deeper by asking if the agent has received any awards for outstanding performance.

2) How many and what types of properties have you listed and sold in the past year?

It’s one of the most important questions you should ask a real estate agent. The number of properties he or she has listed and sold in the past year is a valuable indicator how good a real estate professional is in getting the job done. Take note that this question consists of two parts: properties listed and properties sold. Agents may demonstrate their ability to list homes; however, the more important thing is the sales part – the ability to close deals. If they have many properties listed and sold in the past year, it shows that whatever strategy the agent is using, it’s certainly working.

3) What was the average sales price for the properties you’ve sold over the last year?

Asking this will give you an idea in what kind of market the agent specializes. Find out if the real estate professional has experience selling properties in the price range you’re listing at. If a majority of properties sold falls on the low-end market segment, it might take longer for the agent to sell if yours is a higher-end home. Although agents can sell any property regardless of price range, it’s likely that they will have better success in the market and price segments in which they have the most experience.

4) What is your average sale to list price ratio?

The sale to list price ratio (sometimes called the sale-to-list or list-to-sale ratio) is the final sales price divided by the listing price, expressed as a percentage. If it is 100%, it means the sales price was equal to the list price. You can view this ratio in two ways. A skilled listing agent can negotiate sales prices that are equal or close to the list price, and sometimes even greater in a very competitive market. So ideally, listing agents should have sale to list price ratios closer to 100%. On the other side of the coin, a good buyer’s agent can often negotiate a sales price that is lower than the list price. Therefore, buyer’s agent ratios ideally should be lower than 99%.

5) What marketing strategies will you use?

Deciding on what strategies to use can spell the difference between success and failure. A poor marketing strategy will diminish the chances for success. Do your own due diligence by asking how the agent will sell your property. There are lots of options – staging, open houses, joint marketing, print advertising, and of course, online marketing. Whatever approaches are used, they should be designed to bring in the highest number of qualified potential buyers. Higher end properties can also often benefit from professional staging. In any case, your agent should advise you on how to best prepare the property to make it the most attractive to potential buyers.

6) Can you give me some references?

Reputation is important in this line of business. Whether you’re buying or selling a property, you should ask for references (past clients). If possible, call a few and ask them about their experiences with the agent. Were they pleased with the service provided? Also ask if they are in any way related to the agent. A list of references made up of friends or relatives generally won’t provide an objective assessment of the agent’s qualifications.

7) Do you offer any type of guarantee, and will you let me out of my contract early if I am not satisfied with your service?

You can’t say with certainty how things will go, even if you did your due diligence. For this reason, you should ensure that you’re prepared for any eventuality. If you sign a contract and later find that you’re not satisfied with the service, will the agent allow you to cancel the agreement? If things don’t work out the way they’re supposed to, you should have the freedom to choose another agent who can deliver better results.

As you can see, there are many things to consider when choosing a real estate agent. Finding and interviewing Realtors can be a very time-consuming and laborious task. However, now armed with these seven questions, you are on your way in choosing the best Realtor for your needs.

Immobilienmakler Heidelberg

Makler Heidelberg

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Source by Charles A. Kush III

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