For Sale by Owner: Cons of Private House Sales Without Advertisement
Thursday, December 31st, 2009 at
11:02 am
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When your property is up for sale, there will be a surge of estate agent who will come to you to offer selling tactics on your behalf. This will surely be beneficial for you since you will have to just sit around while they do the hard work. However, you would have to deal with the agent to lower your price so they can have high commission. Let’s face it, this works all the time. Instead of you working for a markup that you think is reasonable with a minimal increase on the value of your house, you will have to get a portion of it for the agent. With this said, it would be better if you sell your house privately.
Private house sales are made possible by advertising it alone. If you truly want to have the markup all by yourself, then you need to do the hard work. But actually, it is not that hard if you have a good advertiser by your side. A good advertiser means that he or she would be the one responsible in exposing property that is for sale by owner. It also means that they require minimal amount of advertising compared when you require an agent to sell the property for you.
Selling Property without Advertisement
Without advertisement, you would have a traditional way of private house sales. Of course, there is the “For Sale” signage that you put in your property. But that would only expose your sales to the limited passersby. What could be worse is that if your house is located in areas where there are few people who go there, it will surely be hard to find it.
To make more exposure, you will have to ask for a referral. You tell your friends that you are looking for a buyer. Then your friend will refer you to a friend who is possibly interested. If the prospective buyer cannot commit to buy, you would need to ask for more referrals. With such limited connection, you would also have limited prospects.
Then there is the press advertisement. You can employ this, of course, but again, you would need to have one press advertisement alone reaching to only few locales that buy the newspaper or publication.
Of course these are only few of the things that you can do if you do not have proper advertisement. All in all, you worked hard for making your own “For Sale” signage. Then you ask for referrals for prospective buyer. And you will go all the way to the publication to expose for sale of owner. However, it would still reach limited consumers. How about if you have time pressure for private house sales? Or what if you are not that aggressive to employ one strategy to another? Surely, your private house sales will move slowly.
Solution to Slow Exposure
The best thing you have to do for faster private house sales is to employ one-time advertisements for wide and immediate exposure. Instead of making lots of efforts for different ways to get prospective customers and still have limited exposure, better employ fast, efficient and wide exposures for sale by owner. One way to do this is through advertisement from Big Move Online.
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