Here is a basic marketing plan for selling a house without professional assistance.
Basic Supporting Information
Market value determined by researching last six-months’ sales prices as well as current asking prices,
Ability to evaluate buyers’ buying ability,
Knowledge of legal requirements associated with selling property,
Preparation of legally required disclosure documents to give to buyers,
Awareness of the requirements of Fair Housing laws, also knowledge and understanding of the penalties for misrepresentation,
Having resources available to help understand buyers’ financing and its effects on sellers,
Having resources available for contracting and closing on properties.
Marketing Target
Prospective buyers
Realtors with prospective buyers
Costs
Establish a budget for advertising daily and weekends in newspapers and magazines.
Costs for professional looking signage, for the preparation and printing of interesting, good-looking fact sheets, and printing disclosure documents to accompany fact sheets,
Fees for resources.
Tools to Attract Buyers
Plan ways to attract prospective buyers, such as print advertisements, For Sale signs, directional signs from major crossroads, open houses, Internet exposure, Realtors and their clients.
Executing Plan
Use ‘Tools to Attract Buyers.’
Send letters and fliers to local real estate companies and to individual Realtors. Offer a reasonable, competitive fee,
Set aside time to be available when the majority of buyers are free to inspect houses,
Arrange to have telephone inquiries received either personally or with voice mail,
Follow up right away with telephone inquiries,
Follow up with prospective buyers who look at house,
Use sales skills to determine real interest of buyers and to encourage interest in property,
Negotiate both sales contract and results of house inspection as impersonally as possible with buyers,
Closely follow all details leading to closing the sale of the house.
