Although using the contacts and advertising knowledge of a real estate agent has its benefits, homeowners who want to sell their homes themselves can save the cost of the agent’s sales commission, which is usually about 6 percent. One of the keys to a successful “For Sale by Owner” sale is effective advertising of the property.
Purchase a handful of professionally printed “For Sale By Owner” signs bearing your phone number and place them in your yard and at nearby road intersections. You also will need “Open House” signs for the same locations on days you have an open house.
Create a flyer giving prospective buyers all of the details about your home. Place the flyer in a weather-proof brochure holder and affix it to your yard signage. Include the home’s address, listing price, square footage, lot size and details on each room. Also mention special assets such as a finished basement, in-ground pool or new flooring.
Place ads on Internet sites that specialize in “For Sale By Owner” listings and on local real estate sites, such as Craigslist. If you want your home to appear on MLS listing sites, check For Sale By Owner listing sites which sometimes offer sellers the opportunity to list their properties for a 3 percent commission.
Contact local mortgage brokers to let them know about your listing and to request pre-qualified referrals who are serious about buying a home. Brokers may be happy to accommodate your request–particularly if you agree to use their brokerage services to search for your next home.
Phone or email everyone on your contact list to tell them about your home listing. Although they themselves may not be looking for a house, they may know people who are in the market for a home.
Place eye-catching flyers on bulletin boards at local grocery stores, libraries, gyms and office buildings. Make sure the flyers have an attractive photo of your home, along with the listing price, key attributes and your contact information.