It Didn't Sell With An Agent - Let Me Raise the Price and Sell It Myself

It Didn't Sell With An Agent - Let Me Raise the Price and Sell It Myself

Part of my lead generation is talking with FSBO's (For Sale By Owners). I call them, talk to them, visit them and offer them tips. I wish them luck, sincerely. However, 85% of all FSBO listings eventually end up getting listed and sold by a Realtor. I just want them to remember me if and when they do list.

I have been doing this regularly for sometime but I still get responses that amaze me, regardless how many times I have heard them before.

I just got off the phone with a woman who is selling her own house. She does not want to deal with an agent, does not want to offer a co-op. She doesn't want to pay someone else for something she believes she can do herself.

That's fine. I do a lot of things myself, also. But I know what I am doing (ok, my wife might sometimes have a different opinion). Well, I usually know what I am doing.

But this woman does not really understand. Her house (vacant, not where she lives) is an expired listing. It did not sell in 6 months on the market. It was overpriced. Based on comparables, overpriced by about 10% - 15%. I don't know what steps, other than MLS, the agent might or might not have taken to market the place. I don't know if the listing agent set the price of let the seller dictate it.

But what do I know? I know that if it didn't sell the first time, it was priced too high.

So, what is this woman doing? She is selling it herself to save the realtor commission. On top of that, she has raised the asking price by over $5000. Her only marketing avenues (that she is currently using) are:

• a sign in front of the house
• 2 for sale by owner arrows pointing towards the property
• a weekly ad in the newspaper

I would like to have told her she more than likely won't sell this home with her tactics. I would like to have told her that her best chance is to trust and use the services of a knowledgeable Realtor. I would like to have told her that she is doing a good job of selling her competition's home. But, at least at this time, she would not have heard me.

I wished her best of luck.

I will send her some tips in the mail. I hope she reads them.

For a copy of my For Sale By Owner handbook, just call me at 706-207-5290 or click on my email link.

So You Want to Sell Your Home – Part 6: Pre-Approved Buyers

So You Want to Sell Your Home

Part 6 – Pre-Approved Buyers

Your sign is up, your ads are placed, flyers are printed up and posted on bulletin boards and in your info box. You are just sitting back waiting for that call, for that buyer to ring your number. But guess what, you aren’t going to be called by a buyer. You may get called by someone who wants to view your home, but that is not a buyer. You may get called by a Realtor® or agent who wants to show the home but even she/he does not have a buyer on the first call.

At best, anyone calling you for the first time is a shopper, not a buyer. If they call you a second time, they are a potential buyer. You may think this is semantics, but there are some important differences to consider that may help you in the long run.

There are four types of people who may be visiting your home once you have placed your For Sale By Owner sign in your yard. They are:

• Shoppers – those who are actively looking for a home they can buy
• Lookers – those who just like to look at homes for sale (yes, there are plenty of them out there)
• Casers – those who you are protecting yourself from using the techniques in Part 5.
• Realtors® or agents – some to preview your home, some to get you to list your home with them

You want to try to get as many of the first, the shoppers, into your home as possible and a minimum of lookers. Why? Shoppers are ready to buy, they want to buy, they are motivated to buy. Lookers are very often not ready to buy, they just want to look.

How do you tell if someone is a shopper? When a person calls you about your home and asks to see it, find out if they are already pre-approved for financing. Note, I am going to emphasize pre-approved, not pre-qualified. They are terms that may sound the same but have very different meanings. Verify that they have been pre-approved and not just pre-qualified.

Pre-qualified simply means that they have spoken with a financing source and have given verbal information to the financer. The financer has done a preliminary check and things look okay on the surface. It is not much different than the pre-approved credit card offerings you may receive in the mail, subject to a thorough credit check. They may be pre-qualified for one amount but the actual amount of loan that they qualify for might be significantly different.

Pre-approved means that the shopper has had that thorough credit check and has a signed document, from the financing company, to that effect. It will also include the amount of financing that the lender will approve. A serious shopper can become pre-approved very quickly, often in less than one day.

Lookers have done neither of these things. If you get a call and they are neither pre-qualified nor pre-approved let them know that you would really like only pre-approved people. If they are really shoppers and motivated to buy, they will gladly get that pre-approval. If Realtors® or agents call, ask them to make sure their shoppers are pre-approved. They should be performing this screening before contacting you.

If the shopper(s) has been pre-approved, ask them to bring the pre-approval letter with them when they come to view your home. If they agree, this is just further evidence that they are a motivated shopper. And what you really want viewing your home are motivated shoppers.

It is up to you how much screening you want to perform before walking people through your home. Limiting access to only those shoppers that are pre-approved might reduce the number of viewings, but it will provide more assurance that those who are viewing are really shoppers and not lookers.

Oh, I almost forgot! When do you get a buyer? When a shopper makes an offer and, possibly after a series of counter offers, terms are agreed to and a sales contract is signed. That is when you have buyer.

Best of luck on the sale of your home. If you have any questions regarding this topic, or any other related to selling your home, please feel free to call me at 706-207-5290. Or email me at athensrealestate@hotmail.com with those questions. I will give you my best answer with no obligation. Although I would love to sell your home, I will not give you a listing presentation unless you ask me to.

Athens – Growth Abounds

According to the U.S. Census Bureau Athens, GA and the surrounding counties are growing at a significantly higher rate than most of Georgia. With the University of Georgia and it’s music scene the Athens area is seen as a desirable community with a high quality of life.

Atlanta is the only large city in Georgia that has seen a growth rate greater than that of Athens. However, many of the smaller towns nearby have seen even more stellar growth.

The following table, from the most recent U.S. Census Bureau estimates illustrates the population growth during the first seven years of the current millennium:

City	2007 Population	2000 Population	% Growth
Atlanta	519,145	416,474	24.6
Athens	112,760	100,269	12.5
Braselton	3,072	1,206	154.7
Jefferson	7,513	3,825	96.4
Nicholson	1,913	1,247	53.4
Statham	2,820	2,040	38.2
Watkinsville	2,825	2,097	34.7
Winder	13,599	10,201	33.3