Not everyone is willing to use a real estate agent, since they do take a commission, usually around 7%. That means, by selling your own home, you’ll end up with upwards of $10,000 that would have gone to an agent. And given today’s slow market there is a very real chance your home will sit unsold for a year or more.
Today, more than ever selling your own house can not only be more profitable, but it is your best chance at getting it sold quickly.
In this article, I am going to show you how to go from „selling your own house“ to „I SOLD my own house“.
In a hot market selling may have been as easy as putting a „for sale by owner“ sign in front of the house and collecting offers. But let’s face it, times are tough and most houses are sitting unsold for months and years.
It’s a war zone out there. Foreclosures are at an all time high and that creates a lot of houses for sale on the market. In order to survive in a war zone you need special skills and a competitive advantage. With this special training you can get your house SOLD, despite the doom and gloom of the newspaper headlines.
If you’re selling your own house you need a secret weapon. And that weapon is highly specialized marketing!
Here is a killer marketing tip that will give you a competitive advantage over all other sellers on your block.
Don’t list your home in a traditional method. Instead of „starting high“ and being talked down do the EXACT OPPOSITE. Start low, get a lot of attention and let the buyers drive the price up. I am talking about a do-it-yourself auction style sale.
What is working best now is what’s called a „round robin auction“. Here is how it works:
First you will advertise that your home is for auction. In these tough times buyers are looking to get a good deal. Auctions are the place to get great deals, and your message will leap out at them.
Next you will hold an open house for two days only, Saturday and Sunday from 12 noon to 5 pm. This will allow you to funnel all the buyers through your doors all at once.
Those that are interested in the property will place their name and phone number along with the price they would like to bid on an „initial bidding sheet“.
On Sunday night you call all those people that put in a bid and conduct the auction. You will simply call down the list tell them the current bid amount and ask them if they would like to raise or pass. You will go around and around making calls until the highest and best offer has presented itself, hence the name „round robin auction“.
Now that you have found your buyer you will meet with them and get the paperwork started.
That’s the unique marketing method that is working now. And if you are planning on selling your own house there is no better method to attract droves of buyers and compel them to make offers on your house.