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 Three Critical Things You Must Know If YouAre Serious About Selling Your Home
Dear Homeowner,You are embarking on a momentous task—selling your home. For most people,buying a home is one of the most important financial decisions they will evermake. Selling a home is
one of the best opportunities most of us will have toincrease our net worth,
enhance our families’ current life style and provide for asecure future.It’s important to get the job done right. Which is why
I’ve compiled someinformation that I hope you will find helpful
while you’re in the process oftrying to sell your home.The information I’m about to share with you is
not widely known.
If you graspthe implications and make this knowledge work for you,
then you will have adefinite edge in the “for sale by owner” market.
But first, let me explainsomething that you might be wondering about at this point. . .You, as a homeowner, have decided to sell your home without the assistance ofa realtor. And, you may be wondering why I, as a realtor, would be willing toshare information with you to help you sell your home yourself.It’s simple, really. I know that a certain percentage of folks who try the FSBO (forsale by owner) route, eventually do list with a realtor. I don’t know if you will beone of them. But, if you are, I’d like you to consider listing with me. And, if youare among those who don’t list with a realtor, maybe you’ll offer my name tosomeone who does need my services.Either way, I figure that if I’m helpful to you now that I have a better chance ofwinning your business in the future, or perhaps the business of someone yourefer to me. My success is built on results, goodwill and referrals. And, I dowhat I can promote all three. Now that you are clear on my motives, let’s moveon to the meatier stuff.
 
Three Critical Things You Must Know To Sell Your Home
If you’ve had the benefit of some type of sales training, the first critical elementwill be no surprise. It applies to all selling situations regardless of the product (inthis case your home) or service being offered. In fact, this first rule of sales, ifobserved, will put you far ahead of other FSBO sellers who fail to heed itswisdom.
Rule #1KNOW YOUR CUSTOMER
Specifically, you should know what motivates your customer. What does he orshe want? In this case, your customers are potential home buyers. You were ahome buyer once yourself, so it shouldn’t be too difficult to step into their shoesfor a moment and figure this out.Let’s say you are a home buyer looking for a 3 bedroom, 2 bath home in an areawith good schools that’s relatively close to your work. As a buyer, what wouldentice you to skip over the agency listed homes which represent more than 85%of the market and focus on the 15% that are FSBO?After all, if you want to find a home that meets your specifications, the easier wayto accomplish that goal is to let a real estate agent do the research and set upappointments for you. Not to mention, you’ve got 85 % of the market from whichto choose vs. the 15% that are FSBO.
And yet, we know that every day potential home buyers do shop the FSBOads and do buy FSBO homes
. But why? I’ll bet you already know the reason. ..
They do it in order to save money!
The importance of this to the buyer should not be underestimated because it is
your single greatest weapon to outmaneuver the competition
 —sellers withcomparable homes that are priced at retail or slightly below.From the buyers point of view, since you’re not using an agent, you should beable sell your home to them for less than a listed property. Buyers expect this.In a sense, you are really paying the buyer some of the money you might havesaved by handling the sale yourself.So, how do you price a property to be attractive to buyers while still keepingsome money for yourself? I’ll say more about pricing a little later. But, for now, just remember that
strategic pricing is critical to your success
!I call this first kind of customer
the bargain hunter. The bargain hunter takesthe time and effort necessary to shop the FSBO ads in hopes of savingmoney.
This is the type of customer you will encounter most frequently.
 
There’s another kind of customer who regularly targets FSBOs. I call this secondgroup
the special needs buyer.
They are not as typical as the bargain hunter,but if you show your home enough times, you will eventually cross paths with afew of them.
The special needs buyer wants to avoid conventional financing. They willask you to help finance all or part of their purchase of your home.
So whoare these folks? Are they just people with bad credit? Not necessarily.Many of the “no-down-payment, wealth-creation-with-real-estate” type coursesadvise their students to target sellers like you. The notion is that FSBOs aremore flexible about terms and price than other sellers.If you’re like most sellers, you prefer to get your money sooner rather than later.In which case, you won’t be interested in offers from special needs buyers. But,if you do decide to work with this kind of situation, be sure to
employ theservices of an attorney
to review all documents and contracts before you signthem.Finally, there’s one other type of customer who tracks the FSBO ads on a regularbasis. You’ve probably seen ads that read—“We’ll pay cash for your house andclose within a week”.
The cash investor seeks to buy properties at a deepdiscount and resell them quickly for a profit.
I know this isn’t the kind of buyer you thought you’d be dealing with when you putyour home on the market. I mention them, because occasionally when a seller isconfronted with a deadline, it’s tempting to consider calling one of these ads.You should know that a cash investor will probably offer you 75% or less of themarket value of your home—sometimes a lot less!Now that you know the primary types of buyers that are attracted to FSBOproperties and their motivations, it’s time to roll up your sleeves and do a littlepreparation work.Let’s imagine you’ve shown your home to the typical bargain hunter. They lovethe house! They make an offer! You have 48 hours to accept or make acounter-offer.Before you whip out your calculator, stop! Ask yourself, “How much do I knowabout this person’s financial situation? What degree of certainty do I have thatthis potential buyer can follow through on the offer they make?” This brings us tothe second of the three critical elements.
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