5 Simple Steps To Market Your Home For Sale By Owner

With most potential buyers scouring online real estate postings, there are a few ways you can showcase your home and win buyers over through a few marketing strategies.

Whether we’re in a buyer’s market or a seller’s market, if you’re trying to sell your home, you want it to stand out from the rest.

With most potential buyers scouring online real estate postings, there are a few ways you can showcase your home and win buyers over through a few marketing strategies. Selling your home without an agent might be a little more work but if you put in the effort, you’ll see the results.

Price Your Home

Pricing your home right isn’t necessarily pricing your home below market value. It’s important to look at what similar homes in your neighborhood are selling for. Try to remember this is a business transaction; compare your home to those like yours in your neighborhood, not bigger homes or those with more improvements or space.

Reconsider overpricing your home. Even in a seller’s market, potential buyers have done their homework. If you put yourself in a different price bracket, like with homes with more square footage or updated appliances, you’ll place yourself lower on the totem pole. Buyers in higher price brackets are putting your home further down their list and buyers in lower price brackets will think they can’t afford your home.

Stage Your Home

With tours and open houses, potential buyers are analyzing every aspect of your home. While pictures are enticing, people want to make sure they can see themselves in your space. To do that, you’ll need to stage your home well.

A clean and detailed home isn’t required but many buyers will look at how you keep your home. Cleanliness is important. Put everything in its place and consider lighting candles or otherwise having pleasant smells around when potential buyers visit. If you have pets, this helps mask their odors, even if you don’t think they have any. If you’d like, you can hire a professional stager to make sure your home has the ultimate look as people tour it.

Home Inspection

Even though buyers interested in your home will have their own inspection, you should take this step first. A home inspection will tell you what repairs should be handled before you sell your home. Some repairs and updates can increase your selling price, meaning your repairs could be more profitable in the long run.

Use the home inspection to complete any necessary repairs, updates and renovations that have the potential to attract many buyers. Since you’ve been living in the house, you might not realize how much needs to be done simply because you haven’t given it a thorough look. A home inspection can help you identify those necessities.

Advertise Your Home

Advertising happens few different ways. Start by putting a “For Sale By Owner” sign in your lawn and creating flyers with photos and information about the home. You can also put related signs down the street from your home directing people to your newly listed real estate.

Effective advertising can take some work. While real estate agents would normally handle this step, it’s important not to skimp when you’re doing it yourself. Make sure your home is listed on all the available real estate sites. Not all potential buyers use the same sites, so it’s good to cover your bases and list your home on as many sites as possible, including Zillow, Redfin, Trulia and any multiple listing service you can find.

Share your home listing in your network as well. Even if you don’t think your friends and family are interested in buying your home, they might know someone who’s looking to buy. Expanding your potential buyer pool is important; leave yourself open to answer any questions as well.

Your listing should have as many details as possible – in the photos and in the listing itself. While many spots, like the kitchen and bathrooms, are important to showcase, consider photos of the entryway, back patio, closets and more. The description should include any recent updates, standout features, and appliances that you believe are noteworthy. For instance, if you recently upgraded the refrigerator, make note of it. Also mention notable features of your community, like strong school ratings, access to major highways, and local shopping and dining attractions.

Since you’re the only one selling your home, don’t be afraid to consider other advertising avenues, including print advertisements. Your community newspaper, magazine or other neighborhood outlets might be willing to list properties for sale. You might have luck listing your home in online advertisements or marketplaces, too, like Facebook and Craigslist.

Consider creating a virtual tour. Potential buyers want to be taken on a trip through your home before they actually step foot in it. Creating a virtual tour showcases your home without people walking in it first. It’s a great introduction to your home and can lead to private showings or an increase in demand during open houses.

Be Flexible With Home Terms

Not everyone may love your house as much as you do. If you’ve done everything you can to market your home without any major leads, don’t be afraid to call in reinforcements. Consider talking to a real estate agent about a Comparative Market Analysis (CMA). You don’t have to have an agent to request this and it also gets the word out to realtors who are looking for homes for their buyers.

Remember this is a business deal and if your home isn’t selling at the price point you thought it should, you might have to drop the price. Regardless of the conditions, no one wants to have their home on the market for a long time. Be flexible and understanding when it comes to home terms.