gofsbo
09-25-2006, 06:07 PM
The inventory of unsold homes is growing in Massachusetts. Sellers are seriously questioning the need to lose more money by hiring a real estate agent and are choosing to sell on their own. All this is at a time when agent commissions may be going up!
Massachusetts consumers have been hearing about for sale by owner for quite some time, largely due to local websites that have heavily promoted the alternative. Unfortunately, many of these websites never really wanted to help the home seller at all -- they wanted to sell the buyer a mortgage or other service. Buyers are tired of being used as a lead generator by every business looking to latch onto the growing interest in for sale by owner. There are ways to assess a website or service before laying out money to advertise.
1) Make sure your phone number is visible in your ad. Buyers who are forced to use a call center may be diverted from your property.
2) Do not use a mortgage company's yard sign, or anyone else's sign with a toll free number. Again, they want your buyers.
3) Do have your property appraised by a licensed Massachusetts appraiser -- not a real estate agent. Banks don't lend money based upon an agent's OPINION of value.
4) Look for regional for sale by owner magazines in your area. You will expose your home to more buyers than an internet driven site alone.
5) Pose as a buyer before you advertise anywhere. Call a few listings to see how easy (or hard) it is to reach the seller.
6) If a website says they publish a print magazine, make sure it is distributed in your area. Ask for specific locations.
7) Use pictures -- lots of them. Virtual slide shows are easier to view than videos. Do your work once here and point buyers to your slide show. Look for websites that allow many photos with the ability to describe each photo.
8) Hire an attorney.
9) Learn how to work with agents to YOUR advantage, not theirs.
10) Avoid marketing/advertising by degrees. The first 30 - 60 days is the most important.
Good luck and if you need help, log onto http://www.ma4salebyowner.com and read our Helpful Information articles.
Massachusetts consumers have been hearing about for sale by owner for quite some time, largely due to local websites that have heavily promoted the alternative. Unfortunately, many of these websites never really wanted to help the home seller at all -- they wanted to sell the buyer a mortgage or other service. Buyers are tired of being used as a lead generator by every business looking to latch onto the growing interest in for sale by owner. There are ways to assess a website or service before laying out money to advertise.
1) Make sure your phone number is visible in your ad. Buyers who are forced to use a call center may be diverted from your property.
2) Do not use a mortgage company's yard sign, or anyone else's sign with a toll free number. Again, they want your buyers.
3) Do have your property appraised by a licensed Massachusetts appraiser -- not a real estate agent. Banks don't lend money based upon an agent's OPINION of value.
4) Look for regional for sale by owner magazines in your area. You will expose your home to more buyers than an internet driven site alone.
5) Pose as a buyer before you advertise anywhere. Call a few listings to see how easy (or hard) it is to reach the seller.
6) If a website says they publish a print magazine, make sure it is distributed in your area. Ask for specific locations.
7) Use pictures -- lots of them. Virtual slide shows are easier to view than videos. Do your work once here and point buyers to your slide show. Look for websites that allow many photos with the ability to describe each photo.
8) Hire an attorney.
9) Learn how to work with agents to YOUR advantage, not theirs.
10) Avoid marketing/advertising by degrees. The first 30 - 60 days is the most important.
Good luck and if you need help, log onto http://www.ma4salebyowner.com and read our Helpful Information articles.