How to Market Your FSBO Home
Many FSBO sellers are told that marketing their home for sale by the owner is very difficult. The fact is, many FSBO sellers don’t proactively address their attempt to sell. The goal of any FSBO seller is to let as many buyers as possible know that their home is for sale. The number one mistake FSBO sellers make is failing to properly market their home.
There are many different things you can do to market a home. Number one is to use as many forms of media as possible to create maximum exposure for a home that is for sale. Because marketing is key to selling a home, you’ll want to take the time to prepare a marketing plan. Advertising budget is always a concern, but with the growth of the internet, your options are plentiful and often free. Research your options so you can get the most out of your investment. Be careful not to waste your time or money on services you don’t need.
Here is a list of FSBO marketing ideas:
1) Signs: Of course, this is number one – simplify your signs with basic contact information like phone number. Your number should be large and easy to read for potential buyers driving looking for a home in the area.
2) Free Local Classified Ads Online: There are many communities that have started free classifieds websites. (Free)
3) Open houses: They can help, but they are not the best way to market your home. Many of the people who come to your home are neighbors or people who are not truly committed buyers. That can be helpful in a way because they can share their insights with someone who is actually watching. However, don’t discount this method because only one person needs to like their home to find a potential buyer.
4) Internet use: The Internet is the ultimate media source for creating exposure. It is one of the easiest and most effective ways to reach buyers. The majority of home buyers (85%) start their search online. There are several ways to advertise online. There are many websites for sale by homeowners and the key is to get as many of your home as possible. The main drawback is that this may take some time, but it is key for the public to have your home. Many of these FSBO websites will allow you to list your home for free. Unlike in the past, many of these FSBO sites now share your information and can automatically locate you on partner websites.
5) List of Craigs: You can list your property for free on CraigsList. Go to craigslist.com and be sure to select your city first. The downside to this site is that you have to post frequently as the listings are sorted by date.
6) Virtual visit: The Virtual Tour is a great option. The virtual tour can give your prospective buyer a much better idea of what the interior of your home looks like. You may also consider posting multiple YouTube.com videos of your home for sale. This is a great high traffic website that can allow you to link to your online list from video.
7) Multiple Listing Service (MLS): Perhaps the best tool for marketing your home is the MLS. MLS listings are generally pulled by major websites like Realtor.com and almost all real estate company websites. To be listed, you must go through a real estate broker. There are many brokers who will list your property in MLS for a flat fee.
The best thing to remember is that, as an FSBO seller, you need to take a proactive approach to selling your home. There’s no reason you can’t have the same number of eyes looking at your home online as if you were listed by a full-service broker. You may have some minor costs to establish your presence online, but it will be a fraction of the commissions paid to a traditional broker.