A for sale sign lets potential buyers know your property is on the market.
Selling property is both an art and a science. Whether or not you use an agent, you are the expert on your property. Use that expertise to create a marketing plan, reach out to your target audience and use a mix of strategies to help you close your sale.
Marketing Plan
Before you start marketing your property, you need to create a plan. First, determine your target audience. Is your home suitable for first-time buyers or is it a move-up home? What age range do your target buyers fall into? While you may be able to base your answers on personal experience, also review houses like yours, particularly if they've sold recently, to see who bought them. This is the group to whom you will direct most of your marketing activities.
Part of your market plan includes pricing. Again, research recently sold homes most like yours. Free websites like Zillow can help you find the cost of recently closed properties. Realtors provide pricing advice based upon their experience and recent sales but the homeowner makes the final determination.
Look at your home with an objective eye and list features that stand out. These are your market differentiators---the things that make your property better than others in the same price point. For example, if no other houses in your range have a fireplace, this is a key feature. Emphasize the points in all marketing materials.
Make sure your home is in top repair and condition. Again, you want to stand out against the competition. If you've made repairs or upgrades, detail them in your listing, advertising and marketing pieces.
Take attractive interior and exterior pictures of your house to use for marketing. Wait for a sunny day and make sure your house is sparkling clean. Do a virtual tour so that you can post this link online and send it out in e-mail.
Determine a marketing budget. Most agents will cover marketing costs as part of their services. However, if you are selling the house on your own, the costs will come out of your pocket. If that's the case, you may want to limit higher cost activities like print ads and mailings and concentrate on lower costs activities.
Activities
Most agents will automatically list your property online using the MLS or multiple listing service. ForSaleByOwner.com estimates that about 75 percent of homes are sold through the MLS so this is a critical piece of your sales strategy. If you are selling your home by yourself, some services like ForSaleByOwner.com will allow you to post your listing to the MLS for a fee. Use free online sites like Trulia, Zillow and Craigslist for additional exposure.
Put a "For Sale" sign in your front yard with a brochure box that holds your listing information. This tried and true approach still works. It lets everyone who walks or drives by know that your property is for sale and stimulates powerful word-of-mouth advertising.
Hold an open house. Ask your agent to set one up just for brokers and agents, and others for prospects. Think outside the box. For example, combine an artisan showing with your open house to increase visitors. This is particularly effective if your home is vacant.
You or your agent can send out blast e-mails with your property details. You agent may have a list of potential buyers that can be targeted. You can let your friends and family know that your house is for sale via e-mail and enlist their help again using word-of-mouth.
Newspaper ads can also be used to market your property. Include all the relevant selling points and contact information needed to set up a showing.
Use social media sites like Facebook and Twitter to keep your friends informed of your home sale. For example, update your status if you have an open house, inviting everyone to come. Ask people to let their friends know that your house is for sale.
After the showing, make sure you or your agent follows up with the prospects to get feedback on your listing. Update your marketing materials to include any comments or address concerns that you hear frequently.
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