For sale by owner is a model that has seen a steady decline since its peak in 1997. According to recent surveys conducted by the NAR, only 10% or real sales originated from for sale by owner sellers. This a direct disparity from the 18% that it peaked at in 1997. These numbers may even be lower when you factor the number of transactions that occurred between relatives.
Nonetheless, if you are interested in selling your home using the for sale by owner in Atlanta, you will have to do your homework to avoid making mistakes. Besides sticking a for sale sign in your yard, there are many other forms of marketing such as newspaper, internet, and flyers that you should take into account.
The first step you need to contemplate before putting together your marketing strategy is the pricing of your home. You do not want to overprice or underestimate the value of your home. With that being said, getting a comparable market analysis of home sales in the area is important. This will give you a good idea of what prices will entice a homebuyer to consider your home in their short list.
The way you write your ad is yet another important step. One common mistake for sale by owner sellers make is marketing their home with an ad that is too personal. A new home buyer may be taken aback by this type of marketing because it reflects a lack of professionalism. This can lead to the potential home buyer distrusting you as a seller.
The best way to make sure that your ad is coming across as a professional is by mimicking the ads of real agents and brokers. Keep an eye for ads by real estate professionals by visiting their sites or viewing their ads in newspapers. This will keep you from making mistakes that can cause you thousands in the purchase of your home.
Knowing how and when to take photos of your home is also crucial in recruiting buyers. Bad photographs can give the buyer an unreal representation of what your home has to offer. When taking the right photographs, there are many factors that must be taken into account. Things such as bad lighting, rain, or angles can make a beautiful home look average. If this is your first time showcasing your home with pictures, you may want to consider hiring a professional photographer or invest in a high resolution camera.
Before you take on the challenge of selling your home in Atlanta by using the for sale by owner method, you should consider the facts. The average home sold by for sale by owner sellers were sold considerably less than those sold by agents. The difference in sales last year was a whopping $65,000. The average home sold through for sale by owner was 150k while real estate agents median sales were 215k. If you would like to weigh your options between the two methods, I would love to help you make a wise decision.