Getting the Word Out:
"I'm Selling my House!"

Tip 56: Get the word out!

Okay, you've had your house inspected and you've done your own inspection.  It's time to let the word out. 

You can announce the sale of your house through word of mouth or putting an ad on your paper. 

Do an experiment:  tell your colleagues at work that you're selling your house.  Make a note of the questions they ask.  Their questions can serve as an accurate indication of what prospective buyers are also likely to be asking you.

Tip 57: Reach out far and wide!

Your announcement can be published in the national and local community paper.  The more people you reach, the more prospects you have.  You may also announce in trade papers that are published by real estate associations or the housing authority. 

Use as many resources as you can.  You have no idea how much more successful you will be in selling when there is a larger audience involved. 

You may be slightly inconvenienced by the number of inquiries you'll get, but if you want to sell that house in a hurry, it's a question of statistical proportions. 

The more you spread the word around in the media, the more people you reach.

Tip 58: Word of mouth is just as powerful as advertising

Ask your office colleagues to tell their families and friends about your house sale.  They may know of people who are moving into the area and looking for homes. 

The more colleagues you tell, the more you increase your chances of reaching people you don't even know.  After you've told them, follow up after a week and ask if they had any questions about your house that you'd be pleased to clarify.  Make it known to them that you're serious about selling, that way they take you seriously and some of them will even want to help you.

Tip 59: Can the company help me?

After you tell your colleagues, speak to the human resources manager of your organization and tell her that if there are executives relocating to your area, you have a house to sell. 

You'll never know what the human resources individual can come up with. 

Someone may actually be moving to the area to take up a position in your organization; or your human resources manager may have been approached by other human resources professionals from other companies who are desperately looking for houses for their expatriates or returning executives.

Tip 60: Ah, the old reliable… the bulletin board!

Go one step further: use the public bulletin board to post your house sale.  Don't forget to leave tabs with your telephone number that can be torn out of the main sheet so that people can call you or pass them on to their friends. 

Post a clear picture in color with your ad on the bulletin board.  You know how the saying goes - a picture is worth a thousand words.

Tip 61: Am I missing the sugar?

Before you even sit down to word that ad for the papers, think about the ingredients of the recipe for successfully selling of your house. 

There are five ingredients you need to have, according to Barb Schwarz, a successful realtor. 

Let's take the first ingredient:  location.  You can't physically uproot your house to take it to a better location.  Note that the price of your house must realistically reflect its location.

Tip 62: Have you been negligent?

Second ingredient for a successful sale:  Condition.  Remember that this is where a professional inspector and a thorough personal inspection by you can make a lot of sense.  Schwarz said that the upkeep of the property is a crucial factor in obtaining the highest possible price for a home.  Price, like location, must reflect a house's condition.

Tip 63: How much do I want?

Third ingredient:  Price.  This is the # 1 deciding factor in the sale or no sale of a house.  There's a belief among real estate circles that a house is really only worth what a buyer is willing to pay a seller to gain ownership of that house. 

Price must have a direct correlation to all the other ingredients for a successful sale.  Never mind what the listings or other people say.  If your house is overpriced, you won't have any offers, or else it may take a long time to receive offers.

Tip 64: Will the buyer ask for flexibility?

Fourth ingredient:  Terms.  The more terms you have on the property, the more potential purchasers you reach.  Again, the price of your house must reflect the kinds of terms available to purchase it.

Tip 65: Is this a good time to sell?

Fifth ingredient:  Market.  Market conditions are influenced by key factors such as interest rates, supply and demand of houses in your area, competition and the general state of the economy. 

Real estate is a cyclical phenomenon.  The beginning of 2000 witnessed a surge in home building.  All of a sudden homes were being sold faster than contractors could build them.  When there's a real estate boom, this is an excellent opportunity to make a killing!

Tip 66: The truth will come out…

So keep those five ingredients uppermost in your mind at all times.  Now you're ready to word that ad. 

Be honest. 

Don't say you have a house in excellent condition when your inspection report has a long list of deficiencies and repairs your house will require. 
Don't say you have 3 full bathrooms when you really have only two bathrooms and one powder room.  A powder room, as we all know, does not qualify as a full bathroom. 

Also, don't say that you live in a quiet neighborhood when in fact your house is located near a university campus where you hear students partying all night.  If you mention that your house has an alarm system, it better work.

Tip 67:  Umm, how will I word this ad?

If you aren't good with words, that is, it's taking you painstakingly long to draft an ad, go with ads placed in the local and regional papers that you FEEL works for you. 

This means putting yourself in the buyer's shoes:  you read the ad, it makes you curious, and you take down the number.  If an ad pleases you or strikes you as effective and persuasive, copy the style and content of the ad. 

Another alternative would be to refer back to some of the books you read on successful real estate sales and mull over the model ads.
 

Tip 68: Can you just state the bottom line please?

When you're ready to write out an ad, clarity and brevity must be your parameters.  If your price is reasonable and realistic and you put the ad in the right strategic places, you'll get at least 20 calls. 

Tip 69:  Do your thinking before picking up that phone

Don't do what many people do.  They call the classified ads department of their local and regional papers and craft the ad with the person in the other line. 

Don't waste time by providing information only while you're on the phone. Instead, figure everything out in advance. 

And when we say everything, we mean that by the time you call the classified ads person, you know ahead of time what your ad will look like, what it will say, where to put it, what abbreviations to use and whether or not it should have a border (experts say you don't need a fancy border for your ad to catch the readers' attention). 

Bill Effros who sold his house in five days said that you don't need a double column or a fancy border for your ad.

Tip 70:  Wait and see.

Be careful about how long you want your ad to run.  An ad that's been around too long will give readers the impression that your house is not selling because of major problems.  It will also tell them that maybe buyers are coming to see the house only to walk away disappointed. 

Some experts say a five-day ad is sufficient.  If you don't get a sufficient number of serious callers, pull out the ad, wait a few weeks, and start all over again.  Review the ad's wording.  Perhaps there's something in the ad that doesn't sound right that you didn't notice the first time.

Tip 71: Where should I publish?

Put it in two sure places where it will get read.  Again, pretend you're the buyer looking for a house.  Where would you most likely look?  That's the section where you should place your ad. 

Your local paper with a small circulation and your regional paper with a much larger circulation should be your target destinations for your ad.

Tip 72: One is enough.

Buyers often don't really want to buy 4-5 newspapers to look for houses for sale.  They'd much rather concentrate on one paper and encircle the ads that could lead to potential visits.  They usually go for the paper which is the most popular with the highest number of readers.  That's the paper where your ad must also go.
 

Tip 73: Cyberspace?  Iphones? Yes, Yes, By All Means.

What about placing my ad on the Internet, you ask?  Definitely. That has become the preferred mode of searching for just about anything these days, and you will be missing tapping into a HUGE market if you do not use this medium.

Exploit the social media as well if you are familiar with them. Twitter, Facebook etc. However there is a caveat to all of this. You have to expect that many of the people you will hear from will not be serious buyers.

So the Internet is an excellent alternative to traditional newspaper advertising, but it should not replace it entirely.  

The next category of tips we cover: Ad Wording and Response Tips -->