So, you're going to take on the market alone. Do you think you got what it takes? Okay...I get it. Do you think you might save a few bucks cutting the realtors out?
Well, I beg to differ but we can talk about that later. For now, I'm going to give you some tips that will allow you to sell on your own - Maybe.....
First, let's talk about the pros and cons of both scenarios because I'm nothing but honest and will give it to you straight.
You can Sell FSBO
This one is obvious.
One of the big benefits to selling on your own is that you save on the commission (you’ll save the 3 percent you’d pay your own agent, but you’ll still have to pay 3 percent to the buyer’s agent). But if you want to sell fast on your own, you’ll have to be prepared to negotiate like a pro.
Be ready to negotiate escrow timelines, juggle contract paperwork, and consult an attorney to make sure all forms are filled out correctly. Knowing the ins and outs of the process is especially important if you need to sell your house fast.
Hire an agent
The upside to hiring a professional real estate agent is that they know what it takes to get a house sold quickly in your area. They’ll streamline things like contract prep work, negotiations, signing, and closing. Of course, you’ll have to pay them a 3 percent commission for their services.
Now, let's talk about the 25 Ways to Sell Your House Fast. If you want to completely bypass the preparation it takes to sell your house in a hurry, consider these alternative strategies:
1. Sell to an investor who plans to flip the home. You will sell quickly but may get less than market value.
2. Sell to a developer. This is usually only an option if your home is a teardown and/or on a large lot.
3. Sell at an auction. You can sell quickly by auctioning off your home, but you are likely to sell for a lower price than on the local market.
4. Sell to an iBuyer. When you sell directly to an iBuyer, it's similar to selling to an investor accept you don't really get a chance to negotiate. The plus side is they generally handle the process of closing for you. It's easy....you just won't get "top dollar" for it.
5. Have an Open House. People love open houses. They don't account for a large portion of sales but they do lead to sales. It's a great tool to use in combo with some other strategies.
6. Put out a lot of directional signs. Aim for high traffic areas and put them on the side of the road where traffic would turn right. It makes it easier for those last-minute decisions to check it out.
7. Create a Facebook Event and invite everyone. Yeah, it can be annoying to get those invites but your home will be seen.
8. Create a video tour and put it on YouTube. YouTube is the second biggest search engine next to Google. And videos are the first thing buyers go for.
9. Put that video on Facebook and Instagram TV. Again...people love video.
10. Run Facebook ads. You can control a little better how many people see your house and everyone is on Facebook at least for a few minutes a few times every day.
11. Use that video in a Facebook ad. hey...people love video.
12. Run a Google ad because if YouTube is 2nd to google, it only makes sense.
13. Tell your friends and family to share it on their Facebook pages. You'll multiply your reach by....a whole lot if you can get a quarter of your friends to do it...unless you only have 2 friends. Then you'd be wasting your time.
14. Create a Zillow Ad....because even though Zillow is wrong about home facts as much as it's right, people still trust them. I don't know why.
15. Put your contact information in the main photo for your Zillow ad. Because Zillow is no longer sharing homeowner contact information for FSBO profiles. Why? They don't make money by helping you sell your house on your own. They want a realtor to sell it as much as I want a realtor to sell it.
16. Put it on Craigslist. Most people aren't using this platform like they used to but investors still use it a lot. See strategy #1.
17. Offer a sales incentive to a buyer's agent. In your description, offer 3% to a buyer's agent. Over 95% of qualified buyers are using a buyer's agent. And they aren't showing your house unless your paying.
18. Use a yard sign. I don't know why I didn't mention this with the directional signs. It's obvious though.
19. Create a property website. People want information and Zillow is going to try to send your potential buyers to agents. with your own website, you can capture them yourself.
20. Prospect for a buyer. Call your circle of friends and ask them if they know someone wanting to buy. Millions of realtors run million-dollar businesses doing this every day. it should work for you too.
21. Put out fliers. This is a little old school but it works. Put them in coffee shops, gas stations, and places where people frequent them often. Place them near the door.
22. Do aerial photos and video. This is something that is getting bigger and more regular in real estate. So take advantage of its popularity.
23. Make a TikTok video. Gen Zers and Millennials are buying first homes right now. So go to where they are because they aren't really on Facebook. That's for us old folks.
24. List it with a discount broker. I hate this idea myself but I see the appeal. Most buyers are using agents and searching the MLS. If you use a discount broker you'll at least be on the MLS.
25. Have a food truck party. This one would be good with an open house. Get a food truck and tell everyone they're invited. Maybe even buy the first 10 meals. You'll have a nice size party. Maybe one of them will buy it since you bought their bbq sandwich and coke.
Hey...check out my video about how Knoxville Taxes are assessed here.
I wanted to say also...I do seriously understand the appeal of selling on your own. But here are the facts. FSBOs get as much as 20% less for their homes on average. Additionally, even if you have a lawyer or someone handling your paperwork, you have to negotiate, schedule deadlines, protect your interest, follow the laws and contingencies, negotiate repairs, closing, and so much more. This after you do all the stuff above just to maybe sell it for a good price? 90% of your challenge will be the exposure for your house sale. With a realtor, we get that kind of exposure without sweating. All we have to worry about is getting you a great price.
As always, if you have questions or need some friendly advice, I'd love to help you out. Call me anytime at 865-696-1815. I'd love to help you in any way I can.