For the FSBO, the - Where - question will have two important areas to consider.
You should have a "Marketing plan" and a "Moving Plan" in place before putting out the "For Sale by Owner" sign.
Where you are going to advertise and how much you are going to spend are marketing concerns that need to be addressed before hand.
- Newspaper Real Estate ads? How long do you run it? What should you say?
- Real Estate Magazines? How big of an ad? How much are you will to spend?
- Brochures and Circulars? What quality? How many?
- Yard signs? How big? How many? What should it say?
- Are you going to do several? Or all?
How much do you plan to budget to each?
As a “For Sale by Owner” you must remember that the marketing efforts for selling your home will be your single most expensive pre-sell costs other than repairs. Since you are selling without the marketing experience of a real estate agent it will be your responsibility to keep a close eye on the “Where” and "How" you spend your marketing dollars.
The second “where” that you need to consider is: “Where are you going? After you sell your house that is!
Does this seem ridiculously obvious?
Apparently not so. Every year thousands of people, just like you, sell their homes before their next residence is available.
Remember that as soon as you plant that “For Sale by Owner” sign in the yard you could sell immediately. When you do, the first thing that your buyer is going to ask is, “How soon can you be out?” It is best that you have a solid plan in mind - other than the local Holiday Inn.
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