Selling your home through a real estate agent remains a top choice, but surprisingly, there are alternative ways to consider when it comes to selling your property. In this article we will explore non-traditional home selling techniques that can work to your benefit.
Sell Your Property on eBay
Selling a house on eBay operates differently from other types of listings. Unlike various eBay categories, creating a listing for your property does not constitute a legally binding agreement to sell it. According to eBay’s property policy, it primarily serves as a means to advertise your property and connect with potential buyers. Importantly, neither the seller nor the buyer is under any obligation to complete the transaction simply based on the listing.
When listing your house on eBay, you can choose between two options. You have the freedom to either set a ‘Buy It Now’ price, specifying the amount you’d accept for the property, or you can create an auction-style listing to see if interested buyers bid and potentially drive the price even higher.
However, it’s important to note that these “auctions” on eBay are primarily designed to allow sellers to advertise their properties within the auction-style environment familiar to eBay’s members. Consequently, there’s no binding commitment for the buyer to proceed with the purchase, and they may back out or attempt to renegotiate after the auction concludes.
Advertise on Facebook Marketplace
Just like with eBay, selling your house on Facebook is not a direct transaction, but you can certainly advertise it for sale on the platform. A significant advantage compared to eBay is that creating a property listing on Facebook Marketplace comes at no cost.
When you list your property on Facebook Marketplace, inquiries from potential buyers will be directed through Facebook Messenger, providing a convenient way to communicate. It allows you to check the buyer’s Facebook profile to ensure you’re comfortable dealing with them. However, it’s essential to be aware that anyone viewing your listing can also see your profile, regardless of whether they inquire about the property. To protect your privacy, consider adjusting your security settings accordingly.
As you showcase your home and its contents, exercise caution when sharing your address and revealing your availability or absence from the property. This applies not only to direct communications with potential buyers but also to your general Facebook status updates.
While listing your property on Facebook Marketplace is free, you have the option to increase its visibility by paying to ‘boost’ your advertisement, reaching a broader audience.
Sell at Property Auctions
An auction is a controlled and time-bound private sale that takes place at a specified location, date, and time, following a marketing campaign that typically spans several weeks. Conducted by a licensed real estate agent, auctions are subject to stringent rules and regulations, which vary in each state and territory. Therefore, it’s crucial to be familiar with the specific rules applicable to your area.
The auction process inherently generates a sense of urgency among potential buyers. With a set date for the auction, buyers must act promptly, or they risk missing the opportunity to purchase the property. Bringing together all interested buyers simultaneously creates a competitive atmosphere, increasing the likelihood of achieving the highest possible price for the property. The fundamental principle behind an auction is to sell the home at its true market value at that specific moment in time.
Auction fees differ depending on the auction house, and there are various pricing models. Some auction houses charge a commission based on the final sale price, while others opt for a flat fee structure. Interestingly, certain auction houses even offer the option to sell without paying any fee at all.
However, it’s essential to consider that while lower costs may benefit the seller, they often translate to higher fees for the buyer. This aspect can deter potential bidders or influence the amount they are willing to bid, as they factor in the additional costs involved.
Use Influential People to Promote Your House
In today’s world, people seek entertainment and reliable reviews or recommendations they can trust, and word-of-mouth marketing effectively fulfills both of these desires.
To begin your search for an influencer, consider the demographic you wish to target. Determine whether you prefer selling your home to families or professionals, as this will guide your influencer selection.
Next, familiarize yourself with the available influencer options, which generally fall into three categories: micro-, macro-, and mega-influencers. Micro-influencers have a smaller audience, while mega-influencers boast the largest following. Depending on your strategy, you can collaborate with influencers from a single category or mix and match across different types.
Contact Property Finders
Property finders and sourcing agents operate in a manner opposite to estate agents. These specialized businesses work on behalf of homebuyers and investors, actively searching for properties that match their client’s specific criteria.
Property finder companies are particularly valuable for individuals relocating from different areas or countries, as well as those who lack the time to search for their ideal property. On the other hand, property sourcers leverage their local expertise to identify potential investment properties for remote investors or individuals seeking to streamline their property search process.
These agencies use a multi-pronged approach, exploring both listed properties and employing targeted advertising to discover off-market opportunities. If you encounter their marketing efforts, chances are they already have potential buyers interested in properties within your area.
Notably, if property sourcing agents have pre-qualified buyers lined up, traditional estate agents may have interested buyers as well. However, the advantage of engaging a property finder or sourcing agent lies in the fact that, as a seller, you typically do not need to pay them any fees. Instead, they charge all their service fees to the buyer.