Get All the Odds in Your Favor By Not Making the Following Mistakes:

Mistake #1
By Owners who have to sell their home quickly think that they have to list with a real estate agent.
As long as you are marketing your home professionally, there's nothing that leads to a quick sale like a reduction in the selling price. By Owners are at an advantage because they can sell under market value and still save more than they would if they listed with a real estate agent. If you are willing to work with a buyer's agent, then you could take advantage of our flat fee MLS listing which is accessed by over 13,000 realtors.

Mistake #2:
Unavailable By Owners rely on voice mail or answering machines to take messages from inquiring buyers.
Answering machines are convenient for personal use, but when they are relied upon for home selling purposes, they are viewed by buyers as a turn-off . Typically buyers want immediate answers to their questions, and if they can't get them right away, many move on to the next available house. Answering machines have been a universal complaint from buyers inquiring about homes for sale "by owner," and since every phone inquiry from a buyer could be a potential sale, all calls from buyers are too important to put off.

Mistake #3:
Online By Owners list their homes with National FSBO Companies, thinking that bigger is better.
When deciding to list a "by owner" home with a national company, keep in mind that you get what you pay for. Most of these sites are cheaply priced and often attract sellers by offering free listings. More listings mean more money from advertisers, who will pay dearly for your audience. These large companies know how to sell people on listing with them for maximum exposure to the masses. Do we stop to consider who our audience really is? Do we contemplate from where our buyers come? In most cases, buyers are local to states with only few coming from across the country. Common sense should reason that a local service in your state would draw more qualified homebuyers to that area than a national service. If you were looking in the California area, you would search out a service in California, not a national service based in New York.

The national sites are definitely bigger, some even gigantic, but their high number of listings make it impossible for them offer support outside of the Internet, a necessary component in marketing homes to all buyers, not just those who have ventured online. Another drawback attributed to their size is that they are unable to make sure that their thousands of listings are current and still available. During our study, we were shocked to find a high percentage of the listings offered on these sites were no longer available, but still appeared as such to the public. You can imagine how quickly buyers get discouraged after they contact a seller only to discover that a substantial number of the homes about which they were inquiring sold months ago, some even a year ago.

Mistake #4:
For whatever reasons, many By Owners don't take the necessary steps to price their home at market value, and as a result, they price it above market value.
By Owners will definitely save thousands of dollars in commissions, but if their home is overpriced, there will be no savings because their home will never sell. Today, By Owners have many resources to help them establish the market value, and to not take advantage of them before you put your home on the market could considerably delay a sale. You can determine the market value yourself by utilizing home comparisons online or through your local Assessor's office, or you can hire an appraiser. Whichever means you choose, it is critical that you catch buyers' attentions the first few weeks by offering your home at market value.

Mistake #5:
Some By Owners lack professionalism in their marketing techniques and end up discouraging buyers.
The marketing tools that you use give buyers their first impression of you as a seller. Unless you are not completely professional, you may discourage a buyer from inquiring about your home. Yes, some buyers prefer to puchase "by owner" homes, but many buyers are hesitant to deal directly with people whom they do not know and are unsure of, especially when they are considering the biggest purchas of their lives! The best way for By Owners to ease apprehensive buyers is to be professional at all times. Don't try to pass yourself off as a real estate expert, but rather be professional in all aspects of selling your home. Use professional signs, advertisements, flyers as well as professional phone skills.

Mistake #6:
Some By Owners are too impatient and don't consider the market conditions.
All home sellers, regardless if they are selling "by owner" or utilizing a real estate agent must be patient. They must also be aware of the market conditions, which can speed up or slow down real estate sales. If the market is slow, then all home sales are slow, not just the "by owners." If you haven't received an offer in a substancial period of time, then evaluate the current market conditions, your asking price, your marketing methods, but don't re-evaluate whether or not you should not sell "by owner".

Note:

If the above mistakes seem overwhelming, consider utilizing the unique marketing services of Great Lakes Listings-a company which was setup in such a way that our customers would not make the same mistakes that proved to be detrimental to previously unsuccessful By Owners!

To safeguard our customers' against having to list with a real estate agent and pay thousands of dollars, we will provide them with the resources to help them sell "BY OWNER", giving them a greater chance of being successful. There are no gimmicks or hidden fees, just a low one-time fee that provides Michigan By Owners with up to a year of the best marketing service available.