Posted by Stephen (GA) on April 16, 2007 at 19:05:00:
Chris,
Can you give some pointers on being able to sell a note that fast and still make good money on it?
Thanks very much,
Stephen
Marketing Properties? - Posted by Virgil Horner
Posted by Virgil Horner on April 15, 2007 at 01:28:42:
Hello,
I was just wondering if anyone has fleshed out some good marketing techniques or ideas for selling homes quickly. I hate sitting on our investments. We’re really searching on how to effectively sell our homes once they’re ready. Is anyone using a flat fee MLS system, or just sticking it out FSBO, using any services that help, referral services?, lead generation?. I’ve got a home that’s priced 20k below value in a very stable market compared to the rest of the country. We’ve got our sign out, ran a newspaper ad, did a big color ad in the paper for an open house, and it still hasn’t sold. This thing should have sold in a week! Any ideas?
Virgil Horner
New Element Real Estate LLC.
208-308-0703
Re: Marketing Properties? - Posted by luke
Posted by luke on April 15, 2007 at 22:23:42:
I use www.supercheappropertywebsites.com
It’s reasonable and I like the results.
Luke
Best Web Sites to Market? - Posted by DaveB (NJ)
Posted by DaveB (NJ) on April 15, 2007 at 19:57:31:
Sorry to be posting so many on this thread but I find self-marketing to
be an exciting idea. What are the best web sites to submit listings? I
know when I list with a flat fee MLS service that I’ll also be listed on
realtor.com, but are there other web sites that really draws buyers, like
Yahoo’s real estate or AOL or Home Gain? Do people actually use these
sites to find homes and then actually buy from it? Or are they used only
as a research tool? I’ve listed a townhome I have for sale about a week
ago on our local craigs list but all I’ve gotten so far is ads from people
wanting to sell my townhome. I’d be curious to hear what other’s have
experiened from selling places online. In other words, does online
really work these days, or do most people still buy from realtors?
Thanks,
David
Re: Marketing Properties? - Posted by DaveB (NJ)
Posted by DaveB (NJ) on April 15, 2007 at 19:36:37:
Virgil,
Great question and I’d love to hear other success stories marketing
properties without using a realtor. For me, a really winning strategy
has been staging the property. Twice I’ve sold homes by staging them
and I know it made a huge difference. It’s not cheap, can cost a few
thousand, but the impression is so powerful that it works on a strong
emotional level.
I haven’t used the flat fee MLS service before. Have people had success
with that. What if you’re out of state. I have a property in North
Carolina I might sell using the flat fee MLS. I was thinking I’d put a lock
box on the unit and buyer’s realtors could call me to get the code and
take their client to see the property? Does that make sense? Is that
what other people do as well?
Thanks,
David
Re: Marketing Properties? - Posted by FloridaBeth
Posted by FloridaBeth on April 15, 2007 at 18:35:08:
- Price your property right (at a price that will sell).
- Put it in the mls via a flat fee broker (could cost something like $300 but you must have your property in the database buyers see and that is MLS). Pay a commission of 3% to the agent who brings you the buyer (you can’t skimp in this buyer’s market).
- Make the home model perfect. Make sure you have very good curb appeal. Put in bright flowers in the beds or in pots… in strategic places in front of the property where the buyer’s eye hits first.
- Visit open houses in the area where your property is and see what the realtors have to say about how the market is doing.
- This is a MUST… have a web site for your property with a simple domain name… and make sure that web site has tons of info. (along with photos, have the survey there and other very helpful information for your buyer).
- Have a sign in front with your web site and phone number on it.
Come back and post and let us know how your sales went.
Re: Marketing Properties? - Posted by Greg
Posted by Greg on April 15, 2007 at 15:32:11:
You could offer a Lease Option, with a 3 or 4 percent Option payment.
Re: Marketing Properties? - Posted by dealmaker
Posted by dealmaker on April 15, 2007 at 10:13:35:
Forget about open houses, Realtors use those to generate NEW BUYERS, also to show the seller that they’re doing something.
Price and Terms sell houses. How confident are you of that $20K discount? Priced on condition? Are you getting lookers, but just can’t get them "over the curb?
For the last 15 years or so I’ve been selling everything on an “owner will finance with $2000 down payment” Sometimes I go a bit higher on the downstroke but in the price range I’m dealing with that number works quite well. I usually get a contract within 4 days of running my first newspaper ad!
Good luck
dealmaker
Re: Best Web Sites to Market? - Posted by Natalie-VA
Posted by Natalie-VA on April 16, 2007 at 14:32:48:
Dave,
If you list with a flat fee MLS service, it will only go on Realtor.com if the broker is a member of the National Association of Realtors.
Also, you might want to check around and see if others have been successful doing this. Sometimes agents won’t show listings from a flat fee service, because they don’t want to work with a FSBO. If there are plenty of houses to show, they’ll show the ones listed with full services agents.
–Natalie
Re: Marketing Properties? - Posted by FloridaBeth
Posted by FloridaBeth on April 16, 2007 at 07:00:06:
Do a search for Flat Fee Mls “your city or state” and see which brokers come up. Their sites may link to current listings they have. Check them out via realtor.com and see that they answer the phone that is associated with the listing and refer you to the seller. Only the flat fee broker’s name and contact is in the listing to the right at realtor.com
In the private remarks that realtors see is your/the seller’s contact info., showing instructions, etc. The combination lock box you get at home depot/lowes is good to use. Supra is the manufacturer.
Google with the terms your buyers would use and put an ad at those web sites.
I find getting your property in MLS via a flat fee is the way to go (you do have to pay the agent who brings you the buyer a commission… per MLS guidelines you need to pay a commission). I also like the flat fee mls brokers who offer Showcase listings with their flat fee service. Shop it and see which brokers 1) answer the phone and refer to the seller or at least get back to the caller asap and 2) which ones offer Showcase with their listings and 3) look for best value pricing. I would much rather go with the flat fee broker who charges $350 for an mls flat fee/showcase listing and answers the phone than one who charges $200 and never gets back to the caller.
Each market is differnt so do what works for your market.
Re: Marketing Properties? - Posted by Jen
Posted by Jen on April 17, 2007 at 19:51:45:
Can you offer full owner financing when you are financed through a traditional lender? Or do you have to do something like lease-option or land contract?
Re: Marketing Properties? - Posted by Chris
Posted by Chris on April 16, 2007 at 15:30:07:
I do the same owner financing, small down $X per month. Sell them on the terms. I offer between 8-9% and then sell the mortgage after closing. By the time I am done paying the closing costs and discount on the mortgage it adds up to be the same as if I went FHA and used one of those grant programs. It can be a lot of paperwork but after a few weeks in the paper they always sell, I think the longest I had something for sale was 6 weeks.
Re: Marketing Properties? - Posted by DaveB (NJ)
Posted by DaveB (NJ) on April 15, 2007 at 19:30:25:
Dealmaker,
What is the $2000 downpayment? Do you mean that you finance $2000? If
so, that seems so very low unless your homes are selling for $60,000 or
so. In my area, homes sell for about $400,000? So how do you get a
contract from an ad in 4 days?!
Re: Marketing Properties? - Posted by DaveB (NJ)
Posted by DaveB (NJ) on April 16, 2007 at 08:11:53:
Thanks much Beth for this info. I didn’t realize that the call actually
goes to the broker who is listed on realtor.com, not to me. So it is
CRITICAL that we use a flat fee MLS broker who is responsible–
otherwise we lose potential buyers. I’m going to do just what you said
and check out those in my area to see who responds fastest when I call
on other listings. What is the Showcase listing?
Thanks again!
Dave