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For Sale By Owner: Priming the Real Estate Pump
from: Chris RobertsonPerhaps you've decided to relocate. Or maybe you've outgrown
your home and need to find homes for sale that will accommodate
your growing family. Or perhaps your children are grown, you've
made the decision to downsize, and are in the market for real
estate that will better suit your needs. Or maybe you've decided
to take the leap, buy some land, and build the home of your
dreams. Whatever the reason, you need to sell the home you
currently own, and you've decided to bypass real estate agents
and go the "for sale by owner" route.
Before taking the plunge and listing your home, there are a
number of steps you should take in order to increase your home's
market price and save yourself future hassles.
Just as you would dress appropriately to make a good first
impression to those you meet, you want your home to make a good
first impression on potential buyers. This means that you'll
need to spend some time and money sprucing it up. You don't have
to - and shouldn't - invest a lot of money on major
improvements. Instead, focus on the little things that make your
house memorable to potential buyers.
Spend a day inspecting your house, outside and in, top to
bottom. Have a pad of paper and a pen handy during your
inspection, and take note of items that need your attention. Use
a critical eye when going from room to room. You may never have
noticed that the electrical outlet plate in your living room has
a crack, and you've worked around that loose door handle in the
kitchen. Now's the time to make your list of the minor repairs
that will help sell your piece of residential real estate.
Spend the time necessary to make all the repairs on your list.
Keep in mind that the purpose is to improve the cosmetic appeal
of your home. Once the repairs have been made, take another look
and determine the steps you can take to further enhance your
home's appearance. For example, give the interior walls a fresh
coat of paint (in a neutral color), spruce up your landscaping,
and consider renting a storage unit for excess furniture and
items you've been storing in the garage. Getting rid of the
clutter gives the appearance of spaciousness, which is always a
plus to potential homebuyers.
Once your home is prepared, it's time to list it as "for sale by
owner." According to the National Association of Realtors, only
24 percent of those using the "for sale by owner" method utilize
the Internet as a way to advertise their homes. In contrast, 74
percent of buyers use the Internet as an information source when
they search homes. Internet real estate listing services outpace
newspaper ads (53 percent) and open houses (51 percent) as
information sources for potential buyers. It behooves you, then,
to list your property with an Internet source, preferably one
that offers both "for sale by owner" homes and Multiple Listing
Services.
When you take the necessary steps to effectively prepare and
market your home, you will reap the benefits of a higher sales
price and a smoother transaction.
About the author:
Chris Robertson is an author of Majon
International, one of the worlds MOST popular
the web. Visit this Real
Estate Website and Majon's
directory.
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