This is an example of a home where it may be harder to sell by owner. When brokers tell you that you need them to plug into their international buyer network, this is the only relevant example of a home where you need that network. And how many brokers do you think actually have a rolodex of Saudhi Sheiks? It’s almost laughable. So if you’re a regular New Yorker like me lucky enough to own your own home, don’t get thrown off when brokers tell you that you won’t find buyers unless you tap into their network. It’s called the internet, hello!! People seem to discount the fact that the internet was invented decades ago and that brokers are still necessary to go through the paper phonebook and call buyers about properties. Really, it’s not that complicated :-)
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Today we’re going to talk about some of the common mistakes that investors make when they try to sell their home. One common mistakes is not staging your home properly. I’ve seen the homes of friends who try to sell by themselves where it is completely empty. I’ve also seen homes where it is a complete mess. It’s a serious problem when you are selling a $1,000,000 home. Believe it or not I have seen a home where the owner didn’t bother to clean up after his renter had vacated the property. There was garbage everywhere. So don’t overestimate your competition, you will be very surprised to see the kinds of people out there that are trying to do it themselves. Another very common problem are photos. When selling $1,000,000 plus homes some people won’t spend a few hundred dollars to have professional photographs taken. This does not make sense to me. Why would you not paid $200 or $300 for a set of sparkling photos taken by a professional that would make your home shine? It’s been widely said that one of the most important aspects of getting your home sold are the photos. Yet despite this widely known fact People still insist on taking horrible photos with their iPhone and posting it on the Internet. And this is not to knock on the iPhone or its abilities. An iPhone is actually quite a sufficient camera for most photos. However most people do not know what they’re doing. Most people will hurry into their property and take 5 to 10 random photos from the worst angles you can imagine. They won’t even bother to move furniture around or open the windows to get the best lighting. And they certainly won’t bother to make sure the photo is aligned correctly. How can you expect the buyer to purchase a million dollar home on distorted iPhone photos? What would they think when they look at the property versus another one with professional photos marketed professionally? Now I don’t mean to discourage you it’s certainly is possible with the right amount of planning and focus. All you need to do is hire a professional photographer, and there are hundreds of them in the city. You should also hire a draftsman or architect to make a professional floor plan of your home. An architect or draftsmen will make sure your buyers have a clear view of how your home is laid out. If you have a good floor plan and photos, some form buyers won’t even need to visit the property. I’ve heard of many stories of foreign buyers purchasing purely on the floor plan. But the sad thing is most for sale by owner Sellers haven’t even thought of getting new, professional floorplans made. Is it too much to ask to also hire an architect to make a floorplan so your buyers can see it? So now you see, the packages offered by listing agents are really not that difficult to replicate. It’s quite possible to do it yourself, you just need to know where to look.
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Scott McFarlsOne man's experience in selling by owner in the world's greatest city Archives
September 2016
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