I recently saw a man wearing a “buy my home” sandwich board outside a local Internet café. He had photos of his house plastered on both sides of the board. As he handed flyers to passers-by, many of them stopped to view his walking billboard. It was one of the most clever real estate marketing strategies I have ever seen.
I have witnessed a lot of crazy ‘buy my home’ marketing schemes throughout my career as an investor. Recently, I boarded a charter bus and traveled to Las Vegas, Nevada. This wasn’t your typical gambling trip. Instead, it was a road show for investors and buyers to visit multiple homes for sale.
It’s rather surreal to pull up in the middle of a cul de sac and witness homeowners parading around in their front yard carrying picket signs and shouting, “Buy my home, buy my home.” These people work it too. They have their children manning lemonade stands and offering freshly baked cookies.
Homeowners are going to great lengths to sell their house fast. Some offer pairs of tickets to sporting events and concerts. Others are willing to leave their household furnishings, big screen TVs, and even their pets. As they say, desperate times call for desperate measures.
Are homeowners being forced to go to extremes in order to sell their house below market value? The answer depends on how desperate they are to sell their home.
Many sellers are willing to sell real estate under market value in order to obtain financial relief. Others have obtained short sale approval and need to sell their house fast or face foreclosure. Some sellers need to move immediately due to job transfers or aging parents who require additional care.
With the massive number of foreclosure houses many homeowners find they cannot sell their property. Between the housing slump, skyrocketing unemployment and credit crisis few people qualify for a mortgage loan. Those that do must possess a high FICO score and the financial means to produce a large down payment.
Every homeowner is painfully aware of the stiff competition in the real estate market. They realize they must either sell their house considerably under market value or possess valuable real estate that buyers are willing to pay full purchase price for.
One little known secret for selling a house fast is to seek out private real estate investors. Nearly every state has investor networks which can easily be found via the Internet or through realtors and real estate brokers.
Most private investors buy houses with cash. There is no need to enlist the services of a realtor; however, experts recommend hiring a real estate attorney to ensure legal documents and title transfers are properly executed. Selling house for cash expedites closing and saves both parties money in closing costs and escrow fees.
There is no need to walk around town advertising your home. Nor, should you have to endure a busload of people walking through your house. Instead, seek out credible real estate investors and leave the marketing antics to your neighbors.