How to Sell Your Own Home
Posted on May 20th, 2009 by Paul
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A home will always be an asset worth more than just a pile of cash. Aside from being a place for shelter, it is also a good source of income, if you sell it to the highest bidder. The value of your home not only extends within its walls, the land value is also counted, boosting your profits upon sale. Many people turn to realtors for selling homes, but their fees will only lower your income. Besides, you can sell it on your own, with the number of options available on the market.
Comparative Analysis
Realtors make sales, based on their research. You can match their efforts by conducting a comparative analysis on the competition and the average value of homes in your neighborhood. List down the advantages and disadvantages of your property as compared to the competition, possibly making adjustments in your home’s pricing. You’ll eventually arrive at a competitive value, which can match the offers dangled by realtors.
Look for Investors
There a few things as exciting as a promising business venture, which is why investors are on the prowl for strategically located properties. With this detail in mind, locate probable investors online or through your contacts. Market your home at real estate forums and social networking sites, stating the price, dimensions, location. Not before long, you’ll get inquiries from several investors. Selling your home to them shouldn’t be too hard, but the problem is, most of them are willing to pay only a fraction of your home’s value. Just use this option if your property’s land value has increased exponentially over the years.
Auction Your Home
Some people are known to purchase ambiguous things in auctions, so putting your house in one isn’t really a bad idea. You should just know your home’s fair market value, which you will need to set the starting bid. Inquire about the next auctions on your town and register your home. If none are available, log on to the internet and register your home in an online auction.
Raffle Your Home
Large non-profit organizations raffle off stuff as an incentive to their members or to attract more to join their cause. Contact several organizations and express your interest in raffling off your home. They will tell you their terms, including raffle ticket pricing. Negotiate with them, so you can increase the ticket price, which maximizes your profits. Apply your marketing skills and knowledge about promotions to sell hundreds of tickets.
The Realtor is Just an Option
Consulting a realtor is, of course, a good option for selling your home, but there are other options, in which you can make even more money. A realtor relies too much on the rulebook for making sales. If you think outside the box, you may yank out better deals, which translate to a haul of profits.
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