How To Sell Your Home For Sale By Owner In Orlando

Dated: 09/18/2019

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How To Sell Your Home For Sale By Owner

We are currently in a sellers’ market right now with more buyers than inventory so expect to see an increase in For Sale By Owner Listings.  Because of this, it is crucial to have the best marketing strategies possible to make your listing stand out from the rest and capture those buyers.

Most agents will call you and tell you that NOT working with an agent will yield poor results but there are always some who understand what it takes to market their home properly and find success in selling their home without having to pay a listing agent.

If you take some of the same actions that an agent would and have the RIGHT plan you should be able to achieve this goal with ease!

Tips to Sell Your Home FSBO in Orlando, Florida

#1 -  Market Conditions 
What are the market conditions in my neighborhood and Zip Code?

There is no sure way to get the exact value of your home unless you order an appraisal, but you can easily determine the value of your home by doing some research on the internet.  You should search homes like yours and look at two keep points of data:

Current homes for sale (Your Direct Competition)

Comparable Sold Homes (Value Reference)

I also suggest going out with your family and looking at selected open houses during the weekend that match the price point you are wanting to list your home at.  Once inside the home, ask yourself these questions;

•           How do the homes compare?

•           If I were a buyer, which home would be at the top of my list?

•           Is the buyer getting the same features for the same price on both homes?

•           How can I make my home more attractive and appealing to the buyers?

This step is critical to the success of your listing because this is the discovery process on your competition and what they are offering and could potentially use to steer buyers away from your listing.

#2 - Know YOUR HOME!

I strongly recommend that any FSBO hires a home inspector to do a full inspection on their home before its listed.  This will you give the opportunity to address any issues beforehand that could affect the selling price or negotiations due to financing.

A lot of homeowners are under the impressions that the home can be sold ‘as is’ and no repairs have to be made.  This is true if you are selling the home to a cash buyer or someone who has no financing requirements such as inspections etc. so expect the buyer to send a lower than asking price offer due to repairs needing to be made.  Most buyers are looking for “ready homes” so a home that will require repairs is usually avoided by them unless the buyer in an investor and will expect a discount on the price.  Remember, all issues with your home need to be addressed, whether through your repairs or through a price discount, so don’t create a negative starting point for your house.

#3 – Think like a buyer!

Buyers of the past and buyer of today all share the same thing; Emotions!

They all have the same hopes, most of the same fears, Excitement and worries.

As a seller, you must observe all the activities of homebuyers and learn all the technology options available today.

What are you doing to make the buyers think your house is the best value?

#4 - Targeted Marketing

Most real estate listing agents will tell you that they will place your listing on every possible website and give you massive exposure but in 2018 more than 34% of all listed homes failed to sell.  So maybe maximum exposure is not the key. I suggest you focus on targeted marketing.

Targeted exposure is bringing those “ready buyers” on the internet to see a particular home that you listed on the internet.  The best way to do this is to create a single property website that outlines the features of the home.  This will ensure that buyers will be a match your current home or at least have the same criteria’s so you should be able to find them a comparable match.

You can post a link to your single property listing and share It on Facebook and all other social media platforms, but you also have the option to pay to have your post boosted and seen by more potential buyers!

This is the best way to get targeted buyers to see your home.  Facebook will help you identify your key demographics and pay to ensure that your post is seen by THAT demographic.  Targeting is KEY!

***TEXT CODES**

Are you using text codes?  Do you know what they are?
Well if you are not using text codes, you are missing on potential buyers every single day.  A text code is simply a tool that its programmed to auto reply via text message when triggered by a code.

For example;  If I want all potential buyers to see a special video I made of the home with more information I can create a code that will say “moreinfo” and have the potential buyer send a text message to the system with the code,  and they will be sent a link to the video and preprogrammed texted.

Picture this….  By creating a text code and placing that text code on the first page of your listing images on Zillow, you are allowing the potential buyer to reach out to you for details of the home and to schedule a showing right away without any agent intervention.

Have you noticed when you list your home as For Sale by Owner on Zillow, they don’t place your information under the listing?  In fact, they place Premier Agents (agents that pay a monthly fee to get leads) under your listing so it looks like its their listing.  Whenever a potential buyer wants information, they will be contacting the agent placed under your listing instead of you and you are losing buyers and opportunities.

That is just one example of how technology can give you an edge over everyone else.

If you want more info on text codes or to check availability for a FREE text code for you to use, please contact me.

#5 -  Scheduling

Marketing online is an active process and it requires daily work.

You always need to create a schedule for viewing opportunities and have it near your phone or by your side.  Real estate agents have an office full of agents willing to show homes to buyers at any given time so its crucial for you to be able to offer the same flexibility to your potential buyers.  By posting a schedule of available times for viewing, you will be able to get your home seen by the people most ready to buy it.

Most sellers want to list their home at the highest possible price when they first hit the market.  If you had an appraisal done on your home, then you know exactly what to list it for but if you don’t, create a price drop schedule in the event the home doesn’t sell right away.  Create this pricing schedule before you begin your process and it will dictate your pricing changes and dates.  This schedule is a personal tool to help you stay on top of the home and stay competitive and responsive based on the traffic and offers you are receiving on your home.

Again, all your schedules should be prepared and completed before you hit the market.  You will be plenty busy once the home hits the market and you won’t have time to focus on those tasks then so please avoid mismanaging your time due to lack of preparation.

#6 - Contracts & Negotiation 

There is a ton of paperwork involved in selling a house.   I suggest getting a copy of a sales contract from your local board of Realtors and getting yourself familiar with the terms and conditions so you are better prepared to negotiate.

You should also work with either a real estate attorney or a title company to ensure the contact is done correctly and avoid any future issues.


#7 - Safety

Please make sure everyone understands the schedules and avoid meeting strangers alone in the house.  Agents have a system that can be activated from their cell phones to alert their office if there are any emergencies so you must take all the necessary steps as well to ensure the safety of your family.

Make sure to pre-qualify any callers and potential buyers before scheduling them to come see them home.  You want to make sure they have done the necessary steps to secure financing for your home in the event they want to place an offer.  The last thing you want is to spend your time and use up your scheduled slots on families that aren’t qualified and cant afford your home in the first place.

Don’t let them preview the home alone, instead walk with them and explain and highlight the home and features of each room as you walk along and help promote your home.

Before you post pictures of your home online make sure you aren’t showing off valuables and items that potential thieves could be after so ensure all pictures and clear, clean, professional and only show off the home and its features, not your personal belongings.

Well I hope that helps!  Use this information and tips to help you prepare for your next FSBO listing and get the sale!

I will be adding creating scripts, sign-in sheets, follow up sheets and other tools for you to use so make sure to bookmark this page and go to http://theorlandorealtyguy.com for all of your real estate needs!

Ramon Rodriguez
(407) 922-8432
TheOrlandoRealtyGuy@gmail.com
Http://theorlandorealtyguy.com

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