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Selling The Property Yourself
| | Wednesday, August 02, 2006 @ 09:47 AM EDT
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Contributed by: Jeff Adams
Jeff Adams Properties
Read more archived articles about Selling
When I first started out as a new real estate investor, I would list all
of my properties for sale with a real estate agent. It would typically
take them 3-6 months to sell each property that I listed with them and
I would pay an average of $10,000 to sell each property. Once I started
buying and selling 30-40 houses a year, this commission really started
to add up. This is a common mistake that new investor make when they
get involved with real estate investing.
I thought to myself one day, “what if I could sell my properties myself
and put the commissions that I was paying in my own pocket?” So I had a
website built by a friend of mine and I started listing my own properties on it for sale and started selling them myself. I also started listing my properties for sale on several different internet sites. That worked very effectively as well and generated a lot of exposure for my properties. Once I learned how to sell my properties myself, I was able to save hundreds of thousands of dollars a year by not paying commissions…
The process is very simple. I run ads in the paper and direct traffic to
my website that gives my potential prospects a “virtual tour” of my
properties. I also put signs and banners on my properties directing people to my website. On my website I offer Free Reports that my prospects can receive after they input their information that generates leads. By using this strategy I have been able to build a buyers list of potential prospects that want to purchase a home. Now every time I have a new property for sale, I email my ‘buyers list’ and a lot of times have my properties sold before they are even rehabbed.
I still use real estate agents to sell my properties and offer a 3% commission. I use an MLS listing service and pay a small fee to list my properties. I also send out an email blast every two weeks to my database of over 5000 real estate agents with a list of my properties for sale. However, I am now able to sell 75% of all of my properties ‘by owner’ without having to pay real estate agents.
The National Association of Realtors recently did a survey and they found out that 87% of everyone looking to buy or sell a home searches online first. Think about it for a minute; let’s just say you did 3-4 deals a year. How much would you save yourself in commissions if you could sell your properties yourself? Would that buy you a new car or pay for a two week
vacation for you and your family?
In summary, when you sell a property you should try to generate the most profit that is possible. The internet is a very powerful that you can utilize To help you accomplish this and also to do all the heavy lifting. About the only hard work you have to do is go to the bank to cash your checks!
Note: This article was written by Jeff Adams, a national author, speaker and trainer who has done over 350 deals over the past 12 years. http://www.FreeForeclosureCourse.com
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