Think about this for a moment. Do you like shopping where there are no prices on the products? Of course not! And if you saw a list of vacation packages, and some neglected to name the destination, you might pass over those ones, right? It is no different in real estate.
So why do real estate agents advertise homes with no price, and sometimes trick people into assuming a home is in a town, by failing to say where it is? Are these good techniques for selling real estate? Perhaps for the agent, but not for the owners of the properties.
You see, the agent is hoping to get curious people to call. He doesn't care if a $120,000-buyer is calling on a $250,000 home that listed no price. Once he has him on the phone, the agent hopes to sell him any house he can. If a buyer calls, thinking a home is in town, so what? He can be steered to one that is.
Meanwhile, the poor sellers have the real potential buyers skipping over the ads for their homes. Many people like myself won't waste time on misleading ads, or those that list no price. There are enough other homes with prices and decent information to look at.
Okay, you can see that for selling real estate, more information may be better. Buyers know that you either have something they might want, or they don't waste your time. They prequalify themselves for you. What should you let them know then? At least the following.
Information To Give When Selling Real Estate
You should always mention the price and terms in any written information, as well as the location, style, square footage, number of bedrooms and bathrooms and school district. Look at what others are advertising, and opt for as much information as you can fit in a given ad or listing.
In addition to this information, have more information ready for interested buyers. Your goal here is to take away as much uncertainty as possible. For example, if the buyer have to replace the roofing in a year or two, get a quote. A buyer may be okay buying a home with a poor roof, but walk away if the cost of this is unknown. Uncertainty kills interest.
I once bought a piece of land, and then sold it for 25% more a month later. I am convinced that what helped sell it was marking the property lines and outlining where a driveway could go. I spent a dollar for spray paint for this project. When I bought the property, it was difficult to see where the property lines were. People like to know what they are getting.
Are you selling real estate that has problems? Hiding problems can be illegal as well as unethical. A better idea is to either resolve them, or get quotes on what it will cost to resolve them. Generally, a buyer is less frightened by the prospect of paying $2,300 for new carpet than by the prospect of paying an unknown amount for it.
This probably fits your own experience, doesn't it? You want information when you buy anything. We will always pay something more for less uncertainty. Every buyer will, so have that information ready when selling real estate.
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To see a photo of the house we bought for $17,500, and get a free Real Estate Investing Course, visit: http://www.HousesUnderFiftyThousand.com
