Periodic tips and reminders to help focus your by-owner marketing and win your commission-free sale - from Canada’s by-owner web-site, www.privatelist.com.

THIS ISSUE:      Don’t Be Shy! / What Do YOU Think?

ARCHIVES:     www.privatelist.com/newsletter.htm

DON’T BE SHY!

Occasionally, private sellers have told me they don’t want a sign on their lawn for fear of nosy, rumor-mongering neighbours. My advice? Let them monger!

If you want to achieve a timely sale at a price you’re happy with, you have to be BOLD! Don’t be shy about getting the information you need - or providing the information your buyers need - to move things along:

• scout the competition: both before establishing your asking-price and after your home is on the market, be on the look-out for competition in your area and don't hesitate to walk through the homes that are most comparable to yours or to enquire about recent sales prices;
   
• be up-front with your tenants: let them know your intentions early on, and do everything you can to earn their cooperation;
   
• put up the sign: and post some highlight sheets, both of which should point to your online display;
   
• call the neighbours: everyone in your area should know that you’re selling, what you’re asking, and where to find your full-colour display on the internet (As to WHY you’re selling, avoid disclosing anything that might come back to haunt you during negotiations - all you need say is "We’re just ready for a change . . .");
   
• welcome realtors: assure them that you would welcome their participation (on YOUR terms), then take advantage of any information - including a comparative market analysis - they may be willing to provide (but get them from several realtors);
   
• use the free classifieds: don’t assume that magazines with names like Mister Barter and Penny-Saver are for bedsprings and used CDs only;
   
• piggy-back: take advantage of any realtor activity in your area by making sure that their clients know you’re place is for sale too;
   
• get the phone number: when you line up an appointment to show your property, be sure to ask for the prospect’s phone number "in case something comes up and we have to postpone";
   
• question prospects: both during their original phone call and subsequent walk-through, don’t hesitate to gently probe prospects regarding their needs and circumstances (Have they just sold - or are they renting? Do they have children? Do they work in the area? Have they pre-qualified for a mortgage?);
   
• help your buyers out: invite them to take advantage of the wealth of how-to information in our buyers’ library, where they may find just the help they need to proceed with an offer;
   
• call them back: two days after their walk-through, phone your prospects and:

  - mention how much you enjoyed their visit,

  - ask them whether they’re still interested in your property, and

  - get their feedback: "We’d really appreciate any comments you might have about the property or neighbourhood - either positive or negative";

  
   
• drop your price: and flaunt the reduction: use a RED pen to mark it on the highlight sheets you’ve posted, and if you’re sure it’s competitive with others in the area, plaster the new price on your lawn sign;
   
• defend your position in negotiations: be forthright in presenting the information you’ve gathered on recent sales and current offerings in the area, emphasize features related to the needs buyers have mentioned in previous conversation, and don’t be put off by objections - they’re often a sign of genuine intent to buy;
   
• go for a backup offer: until your house is SOLD (ie, with all conditions removed from an accepted offer to purchase), it’s still on the market, so continue to promote it;
   
• pursue the closing: keep in touch with your lawyer as condition deadlines approach - you want to know immediately if any glitches arise.
   

Get the picture? Whether it’s a matter of collecting the information you need to set a realistic asking-price, promoting your property as widely as possible, determining what’s most important to prospective buyers, or simply finding out where you stand with them, don’t hold yourself back! Be PROACTIVE!

WHAT DO YOU THINK?

How much of the current realtor-based market in Canada (roughly 35,000 new MLS listings per month) will disappear over the next several years as more and more buyers and sellers use services like PrivateList to deal directly and avoid hefty selling commissions?

No one can tell for sure, of course, but the Canadian Real Estate Association doesn't like the question, and is spending big bucks to polish its members’ image.

An item on their web-site maintains that an on-going national ad campaign, apparently costing around $1.7 million/year, is enjoying some success in improving the realtor’s public image - in particular, persuading Canadians that:

• the inherent complexity of the residential real estate transactions requires the use of a realtor;
   
• a real estate agent will save you time, money and aggravation;
   
• real estate agents work hard for you; and
   
• real estate agents will "favorably impact the selling price" of your home.

What do YOU think? Send us an email indicating where you stand on the four points mentioned above. If we get enough response, we’ll tabulate and display the results in a future newsletter. (This survey is open to everyone - even realtors who are selling their own place privately!)

FRIENDLY REMINDERS . . .

Are the thousands of dollars you'll save by selling privately worth, say, an hour each week-end, spent reviewing your progress to date and mapping out your continuing campaign?

It's important to maintain an active marketing focus until your property is sold. Therefore, each e-mail version of this newsletter links to a series of reminders, tips and tools that lead to a sale!

To access these resources, press here.

©2001 PrivateList