| In any sales situation, understanding your potential | | | | Internet to search for homes. This has several |
| buyers and answering their desires will determine | | | | implications. First, you should not depend on the |
| your success in making a sale. This is true even | | | | newspaper alone for advertising. Second, when |
| when selling your home. | | | | buyers search online, their first impression of your |
| If you've decided to sell your home yourself, you | | | | home is going to be the photo included with your |
| need to do all you can to entice buyers, because | | | | online listing. As the saying goes, you never get a |
| the financial results are sometimes disappointing. | | | | second chance to make a first impression; so |
| According to a recent National Association of | | | | make sure that photo is an appealing one. |
| Realtor's study, the median selling price of For | | | | Ninety-two percent of homebuyers financed their |
| Sale By Owner homes was $198,200 compared | | | | home purchase. This is an uncomfortable area for |
| with $230,000 for agent-assisted home sales. | | | | many home sellers because it requires talking |
| Many FSBO sellers wind up frustrated and | | | | about your buyer's finances. At the same time, |
| eventually work with an agent. But if you | | | | you do not want to waste precious time |
| understand what prospective buyers want and | | | | negotiating a sale with a buyer, only to find out |
| how they buy, your chances of success on your | | | | later that they do not qualify for financing. Insist |
| own increase greatly. Here are some trends to | | | | on your buyers providing a mortgage |
| consider (from NAR 2005 Profile of Home Buyers | | | | prequalification along with any written offer for |
| and Sellers): | | | | your home. |
| Ninety percent of homebuyers used a real estate | | | | Buyers between 18 and 44 years old more |
| professional during their home search. If you | | | | frequently purchased homes in suburbs or |
| refuse to deal with buyers represented by | | | | subdivisions than did older buyers. When you're |
| agents, you've just cut yourself off from a huge | | | | selling a home in the suburbs, you're often selling a |
| portion of your potential buying pool. Even if you | | | | home that's very similar to others on the market |
| don't want to pay an agent to sell your home, | | | | in your area--competition is high and you need to |
| you should be offering some type of commission | | | | distinguish your home to buyers. Taking the time |
| to an agent who brings you a buyer. You can | | | | to stage your home, by playing up hot button |
| determine how much. But offering no commission | | | | features, de-cluttering, and making strategic |
| is cutting off your nose to spite your face. | | | | repairs, is well worth the effot to motivate |
| Eighty-two percent of first-time homebuyers and | | | | prospects to make an offer (rather than moving |
| 78 percent of repeat homebuyers used the | | | | on to the next home). |