What do I do next?
Invest in a sale sign that reads “We Cooperate.” This means you are willing to cooperate with a selling realtor, and that you will pay the selling portion of the commission. Every realtor in town will know what the sign means. You’ve already saved more than half of a traditional real estate commission.
Why isn’t it selling?
Statistics indicate that the number one reason people buy houses is because of location. What’s number two? Salesmanship. There is an old adage that is as true today as when it was first uttered, “…people don’t buy houses, people are sold houses”.
Someone called. Now What?
Everything you say should be a question. What you hear back is what you will use to close the sale. For example, “…we are looking for a large fenced backyard, a bedroom to accommodate a king size bed, fireplace, two bathrooms.” If your house hits two or three out of four, go for it. Set an appointment to show the house, and point out the large fenced yard and the large bedroom.
When showing your home, comment about the enjoyable features and the benefit of each feature, for example “…our heating and cooling bills are half what they were before we installed the triple-glazed windows” or “…the windows keep the house so quiet we can’t hear the children playing outside”.
Know the age and condition of kitchen appliances, roof, HVAC system, and hot water tank. Buyers like gardens, and many times select their purchase because of a lovely garden. If your thumb is not green, hire a gardener so there are blooms in the spring.
Before the prospective purchaser arrives, turn on every light. Step outside and brag about features and benefits of the sprinkling system, oversized garage, and patio. Ask about family, children, employment and hobbies, searching for common interests.
After showing the interior’s features and benefits, say “…would you like to buy my house?” and say nothing until the prospective purchaser answers. There are only two answers regardless of how they are disguised. If it’s not exactly what they are looking for, stand up and bless them on their way. If, however, a yes or a yes with qualifications tumbles out of their mouth, grab your pencil.
Don’t Let Pride Get In The Way
The primary reason a homeowner cannot sell their own home is because of homeownership pride.
A prospective purchaser may be thinking that the carpeting isn’t their style, or looks outdated. The homeowner may be typical, very proud of their decorating and gardening skills, and criticism like this could be embarrassing, and not graciously received. You should laugh, and confess that you’ve “not updated in a very long time!”, and maybe say “if the carpeting isn’t for you, a carpeting allowance is in the budget”. This serves two purposes. The prospective purchaser is thinking “…I could live with it for a few thousand dollars off the price” or she’s thinking “this is great, new clean carpeting!”
This is exactly how a real estate agent would respond to the carpeting criticism out of your earshot.
FSBOs Are Intimidating
For Sale By Owner – It’s intimidating for the buyer, and the seller.
Agents earn a percentage of the sale’s price (paid for by the seller) usually 6-7%. That’s a lot of money for a seller to walk you through the process, help you stage your home, and talk with prospective purchasers, and still not provide you with any legal advice.
Our experienced real estate division walks you through the process, and provides stellar legal advice, which can save thousands of dollars for you in the process.
We Can Help
Our attorneys are experts, and are here for you with straight talk, predictable cost, and superior services. We promise to tell you what the most likely outcome is up front, and to be open and transparent in our communications with you until your case is resolved.
Our approach to practicing law is revolutionizing the way law firms deliver legal services. Case evaluations are completely free. Call Lion Legal today at (501) 227-7627 or Email Us to set up a free consultation.