FSBO Jane

After calling Buy Owner and having a Buy Owner marketing professional work with me to develop an advertising plan that I was happy with, my ad went live almost immediately. My rep sent some information into the office, and the written description went online within a few hours. Then they scheduled my photographer to come out and shoot pictures and virtual tours.

I’d say within the first week, I received the first call from an interested buyer, but this was in a very different market. To be honest, that first property, I sold within a month of buying my BuyOwner.com ad. The buyer found the ad online at BuyOwner.com, liked what she saw and called me. She came out to see it, made me an offer, and things just were that simple!

Over the intervening years, I’ve sold and bought a few other properties, which weren’t always as fast and easy. I currently have a home listed that’s been advertised for six months. I know that when the right buyer comes along, I’ll be ready: I have my home showcased with incredible photos and text, 360 degree virtual tours and lists of schools and nearby attractions. The interior is in showcase shape, everything looks gorgeous.

Thing is, it’s a tough market! Now, it makes sense to cut costs everywhere you can. That’s why I use BuyOwner.com!

As part two in my series on using BuyOwner.com, I’m going to tell you about the in-house meeting with a Buy Owner marketing professional. After I’d called the 1-800 number and scheduled an appointment, my sales rep came out to my home on a weekday afternoon. (He’s the same rep I ended up using each time in Illinois because I liked him, and I worked with another rep in Florida.)

For the sake of explanation, I’ll just relay the first meeting I had with my rep. He brought in a variety of materials to show me how the BuyOwner.com advertising works. We went online together, and he showed me the different sizes of ads, the professional photography and how the listings are placed in search results. He explained that I would be paying for advertising with Buy Owner, not an agent. When I found a buyer, there would be no commissions owed. All his statistics and figures had me sold immediately. As a former real estate professional, I was only too aware of how much money I’d be saving.

Essentially, everything I wanted was up to me. I chose one of the nicest ad packages, so that my property would show up first when people searched for my city and so that I’d get a lot of photos and virtual tours.

When I tell people about my experiences with BuyOwner.com, which I usually do whenever the topics of real estate or investing or buying/selling houses come up, they often ask me one thing: Jane, they say to me, how does Buy Owner work?

In an effort to answer that question here, I’m going to present a series of posts, each one explaining how BuyOwner.com helped me buy and sell properties. Think of it as a step-by-step guide to selling your home on your own.

Today, part one: Calling Buy Owner.

Using Buy Owner begins with a simple phone call to 1-800-771-7777. I guess you could also say using Buy Owner begins with a visit to their Web site: http://www.buyowner.com, as that will answer some preliminary questions you may have and will also provide links to testimonials of previous customers (you won’t see me in the videos, but I wouldn’t mind being interviewed, if you’re listening, Buy Owner!). At the site, you can also watch an info video that explains things.

So what can you expect when you call Buy Owner?

The person I spoke with was very friendly and easy to talk with. She asked me for some information about the property I wanted to sell: where it was, why I was selling, etc. Just got some background information basically. Then, working with my schedule, she set up an appointment for a Buy Owner sales rep to come to my house.

More to come in Part Two: The In-House Meeting.

In honor of the Christmas season, I’ll be MIA for the next few days, back again Monday. In the meantime, here are some holiday- or winter-related posts from the FSBO Jane archives for you to enjoy:

1. 3 Tips for Selling a Home in Snow
2. Are You Selling Your Home during the Holidays?
3. (Selling Your) Home for the Holidays
4. Holiday Decorating
5. HOAs & Holidays
6. Quality Links: Selling in Winter

Image: Krisdecurtis

Smart investors: Looking for a way to diversify your holdings? Considering real estate investing but afraid of the high costs and turbulent market? If so, here’s a option worth knowing about: REIT (Real Estate Investment Trust).

Essentially, an REIT is a company that owns property and distributes at least 90% of its income to shareholders. By investing in one, you could be putting money into commercial or residential facilities like shopping malls or apartment buildings, or even healthcare. Most REITs specialize in a certain type of property and/or regional location. The REIT will generate income through leasing properties, and the shareholders/investors (you) earn the benefit.

Often providing high-dividend and consistent yields, REITs are worth looking into for an easy, relatively low-risk way of getting into real estate.

Sound good to you? Then there are two ways to go about investing: buy stock in a publicly traded REIT or buy shares in a mutual fund of real estate securities.

Hat tip to Mike at the FSBO Blog for pointing out a recent Atlanta Business Chronicle article.

The article points out the record numbers drawn by Google and YouTube, as more and more people watch online videos. Here are some of the facts:

* 77% of American Internet users watch online video.
* October 2008 versus October 2007 saw an increase of 45% in online video viewers.

Taking these things into consideration, it just makes sense to include video in your online real estate advertising. That’s one of the things I love about BuyOwner.com—professional photographers came out to my home and created gorgeous virtual tours of the rooms in my house, and potential buyers could view those videos (complete with voice-over descriptions) anytime they wanted to online.

I came across this website and it immediately pulled me in. I often read my daily horoscopes but I never imagined that astrology could correspond with home decorating too! According to these articles, your astrology sign determines your decorating style. I’m still not sure if my sign’s style coincides with my style interests, but I’ll let you determine if yours is true! Here’s an excerpt of each astrology sign’s style.

Aquarius- This sign lives up in the air. You are prone to styling your home with balconies, big picture windows, lofts, etc. White and pearly tones should fill your interior. Unique accessories are your specialty, such as large sofas, entertainment centers and waterbeds.

Aries- This is the first sign, therefore you focus on what people see first. Focus on your shutters, siding, roofing and the entry hall. Red colors bring out your fiery side! You are very passionate, so specialize in fireplaces, wood-burning stoves and outdoor torches. Otherwise, stick with a basic, uncluttered atmosphere.

Cancer- As a water sign, you should focus on bathrooms. Add a Jacuzzi and then make the most of a bath with scented oils, candles and incense. Decorate the rest of your interior with translucent or glass objects. Shop around for original antiques to decorate formal rooms.

Capricorn- You relate to the rock of the earth, so bring that relationship into your home with stone floors, slate countertops and terra cotta tiles. Fill your home with neutral earth tones and add royal blue or burgundy to the mix. Decorate in a classic, basic style.

Gemini- As an air sign, you want to focus on windows: custom treatments, large glass panes and curtains. Bright yellow and orange colors make your interior stand out! Though this space is brightly colored, style it with a spacious and light appeal.

Leo- You are as creative and as eternally young as they come! Pretend you’re designing a dramatic movie set by incorporating something eccentric, like green velvet drapes! Sunrise and sunset colors are your specialty, along with fun accessories like a game room or stuffed animals.

Libra- To find the harmony and peace that you seek, decorate with elegant arrangements. Make the interior light and airy with crystal vases, mirrors and subtle wall murals. Men and women alike can decorate in pink, feminine colors with gray accents.

Pisces- As a definite water sign, add a pond with fish or a pool to your backyard, and incorporate a tub or a Jacuzzi into your bathroom. Decorate in water colors, especially sea foam green! Use fluid, circular furnishings, such as oval mirrors and rounded tables.

Sagittarius- This fiery sign needs to be cooled down! Focus on integrating big picture windows and a good air-cooling system to your home. Decorate in bright tones, as well as teals, purples and reds. You specialize in big accessories, like double doors, a two-person tub or international décor.

Scorpio- With a flowing passion, you’ll want to add a waterfall to your foyer, a Jacuzzi to your bathroom and good plumbing to your entire house. Decorate in an elegant combination of black and white, along with heavy accessories. Hang hefty wall decorations, display wooden beams on the ceiling and light rooms with wall sconces.

Taurus- Referred to as “Mother Nature”, fill your yard with gardens and your interior with flowers. Earth tones should fill your rooms, from beige and brown to green, burgundy and orange! Your bulky and thick style includes Baroque art, lamps with big vases and an abundance of pillows.

Virgo- With health on your mind, fill your time with gardening, especially vegetable gardens. Decorate with medicine cabinets, pantries and yoga mats. Fill the interior with earth tones, especially the neutral color of wheat. Since you work hard, incorporate comfortable chairs and good lighting to your home.

Does this sound like you? If you want to learn more, go to the website and read more about the style of your sign!

Even though most buyers purchase a vacation home during the fall season, buyers also wish to escape the winter cold by buying now.

An article from the New York Times gives helpful tips on what to pay most attention to when selling a vacation home in the winter. Ideas include:

 Competitively price the home. People can hardly afford vacations, let alone vacation homes right now. Make an astonishing offer that they can’t resist.
 Fix everything so that the home is in top-notch shape and move-in ready. If buyers observe an organized home in impeccable condition and with low maintenance, they are much more likely to purchase.
 Hand out information sheets on how to operate all of the appliances/electronics in the house, as well as information on who you use for landscaping, electricity, etc.
 If the home resides on a waterfront, include information on insurance. Find out in advance if your current insurer will carry over the plan to the new owner.
 If you have buyers that seem really interested, offer them the opportunity to spend a weekend in the home! This may be just what they need to fall in love with it.

Help a buyer find a place to escape from reality by following these simple tips. For more advice, read the whole article here.

Whether you’re looking to purchase a home sometime soon or way off in the future, here’s a tip worth remembering: facts matter.

The #1 tool in negotiating issues of price is data. Find out what comparable properties sold for in the recent market, and you have factual ammunition for asking sellers to lower the price.

Let me give you an illustration of how this works:

Joe is selling a house in Chicago, and he has it listed for $400,000.

Bob comes along, and he likes Joe’s house. $400,000 is a little pricey, though. So he does some research, and he finds out Joe’s neighbor’s house, very similar in size and upgrades, sold for $360,000 last month. Also, a house down the street that is actually larger than Joe’s house in terms of square footage and lot size sold for $375,000.

Now, when he goes back to Joe, he can offer something more like $355,000 and have research to back up the offer. Explaining the market, these recent sales and his willingness to, say, provide a 20% downpayment and no contingencies, Bob wins Joe over, and the house sells for $359,990.

This is how you do it. Way to go, Bob!

What do you when you put your house on the market at the right price and it just isn’t selling? You may think you should slowly lower the price in hopes of gaining interest from prospective buyers. But according to Marcie Geffner at Bankrate.com, you should cut the price dramatically. She quotes Mark Reitman of real estate brokerage Redfin as saying that “testing the market simply isn’t a good strategy with home prices depressed, sales at a slower pace in many markets and buyers on the hunt for good deals.”

Read the rest of the article here.

Image: Play-Girlz