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: Did You Know . . . ? / How To Minimize Frustration
ARCHIVES: www.privatelist.com/newsletter.htm
DID YOU KNOW . . . ?
- Canada-wide, realtors take almost twice as many listings
as they sell (based on Canadian Real Estate Association
monthly statistics averaged over several years);
- real-estate fees in North America are an anomaly: fees in
Europe are closer to 2% than the 6-7% common here;
- in Quebec, 40-45% of all residential properties sold each
year are sold PRIVATELY (personal communication from a past
member of the Montreal Real Estate Board)
- take the commission you save by selling privately and put
it towards the down-payment on your next house: at current
mortgage rates and a 20-year amortization, you’ll eliminate
over FOUR TIMES as much in mortgage payments!
HOW TO MINIMIZE FRUSTRATION
What causes some private sellers to pack it in after two
weeks and list with a realtor - even though it will cost
them thousands of dollars? Often, it’s the sheer frustration
of dealing with buyers lacking in either appreciation or
simple courtesy.
Here are some ways to minimize that frustration . . .
- make sure you get prospects’ phone numbers, best done
when you make the showing appointment: they’ll
feel more obligated to show up - or call if they can’t
(see www.privatelist.com/tips/tip11.htm);
- pick one or two days a week on which to show the
property (unless the buyer is only in town for the day,
etc.), then line up consecutive showings: less cleaning,
and it sure impresses buyers to see other prospects
arriving just as they’re leaving;
- phone prospects if you hear nothing from them within a
week of their walk-through - a "No" is better than wondering
if they’re going to call, and their comments may help you in
the end;
- refer buyers to www.privatelist.com/buyers.htm,
where they’ll find all kinds of tips and tools to help them
ACT - including a mortgage calculator that may save you
from having a deal fall through due to financing;
- don’t start high: from day one, USE the saved realtor
fee to undercut the MLS competition - otherwise you
squander your biggest edge as a private seller;
- consider an early offer very carefully: don’t assume
that quick action means other offers will come along if you
lose the first one;
- don’t negotiate verbally - if you’ve got nothing in
writing, you’ve got NOTHING; repeat after me: "We’ll
consider very seriously all written offers. We’ll
consider very seriously all written offers. We’ll
consider . . ."
- know the the competition - tour other offerings in your
area and try to see them through buyers’ eyes;
- welcome realtors - then pick their brains! In return for
your time, ask for a comparative market analysis including
examples of similar properties that have recently sold in
your area. Confirm that you intend to sell privately, and
if they insist they have buyers for the home, invite them
to show it and bring an offer (see www.privatelist.com/realtor.htm);
- be patient: in a regular market, with the house
priced realistically, it can take 2-3 months to find a
buyer;
- finally, start packing away family decorations, portraits,
knick-knacks NOW: turning your home back into a house
will give you some emotional breathing space - and give
buyers’ imaginations a better chance to start working in
your favor (see www.privatelist.com/tips/tip1.htm.)
FRIENDLY REMINDERS . . .
It's important to maintain an active marketing focus until your
property is sold. Just an hour every week-end, spent reviewing progress to
date and mapping out a response, can pay real dividends.
Therefore, each e-mail version of PrivateList PROACTIVE ends with a
series of reminders, and links to tips and tools for your on-going campaign.
To access these resources, press here.
©1999 PrivateList
