Methods of Advertising
Traditionally, advertising real estate has involved a) listing with a broker who adds it to the MLS and advertises for you, or b) classified ads and a "For Sale By Owner" sign in your front yard. You or your agent could also hold an Open House. All of these methods are viable. But times change, and now there is another method - the Internet!
As a seller who chooses not to enlist a Broker, you may need to resort to every advertising method available. Later, we will see how to write the best classified ads, and discuss how to hold an Open House. The lawn sign is easy, though rather ineffective as a rule. And, of course, you may want to put out flyers, as well. But you have more options available to you that can speed up the sale of your property, and give you an edge over other sellers - even over many Brokers.
Besides classifieds, flyers and Open Houses, strongly consider using the Internet. No other media reaches more people, selectively, and no other advertising medium is as inexpensive. Studies indicate that about one in every five buyers begin their search online. It is not surprising, therefore, to know that these buyers are generally more sophisticated, more educated and more affluent.
There are many ways you can put up and promote your own web page, but unless you are expert at marketing on the Web - and very few people are - you would fare much better to have your listing with a web company that specializes in advertising homes for sale by owner. The biggest reason is visibility - because they list many properties, a lot of buyers visit their pages. The second reason is promotion - any business that has been successful on the Internet has learned that traditional marketing techniques simply do not work on the 'Net. The 'Net works under a whole new set of rules, understood by precious few.
I would like to take a moment here to suggest FIZBOs Online, since the company that runs that site was one of the first 500 to utilize the World Wide Web with an interactive website - long before most people even knew there was a Web. They have been successfully marketing on the Internet since 1990, and have learned the new methods. As of this writing, FIZBOs Online is expected to be fully functional in January, 2001 and listings there will be absolutely free, no strings attached. There are other "free" sites, but they are typically free only if you purchase their product or other service.
Your web page should allow you at least 3 color photos, unlimited "sales" text (comments) and a very detailed statistics section - square footage, all about the number & sizes of rooms, taxes, utilities and so on. Your page should provide complete contact info, and a mail link so prospects can e-mail you directly. And, such web exposure should not cost any more than $20-$30 for a web page that stays up until your property is sold. Anything more expensive should be avoided unless they offer so much extra that it becomes worthwhile.
And did you know that many employers often hire from outside, and these new employees coming into town need places to live. The Human Resources department will likely allow you to post an ad on their bulletin board. Perhaps they will even let new employees who are getting ready to relocate know about your home. Take advantage of these very real possibilities for finding a good, qualified buyer.
Another idea to consider: there may be people who live in smaller homes nearby who might be ready to "move up" to a home like yours. Leave a flyer at their residence to let them know you house is on the market. Last, but not least - make sure you tell everyone you see that your house is for sale. Consider offering a finders fee of $100-$200 to anyone who refers the buyer who signs a purchase agreement and consummates the sale. That is a very small price to pay for getting a buyer more quickly.
Aside from these things, prepare your ads and flyers professionally. Use your computer to design attractive flyers, preferably in color. If you do not have a color printer, many copy shops like Copy Express will print your flyers from the design you created on your computer and put on a floppy disk.
As for that "For Sale By Owner" sign, go ahead and put it up. If nothing else, it will help people who are trying to find your house to locate you.
NEXT: Writing A Good Ad
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