All Forum Posts by: Rebecca Sabot

Here is a new strategy that has worked for some of my buyers in your same situation. With an MLS search find homes that are over priced and just slightly above your price range. Homes that have been on the market for over 15+ days and homes that are 10-20K above your price range. Make a low offer, one that is within your budget, and then you can come in with the only offer!!! You won't have to deal with multiple offers, you can still have contingencies and even get seller paid closing costs. Not many homes will fall into this range, so not a sure thing but definitely worth investigating.

I sold a home FSBO before I was a licensed realtor. Here are some things that worked for me. (I am also from ND and have family in Minot and Bismarck so I know a little about the market there.)

1. Advertise and offer a buyer broker commission ...3% is good. To compete with mls listed properties you will have to offer at least 2.7. Why would an agent have any motivation to work with you if they won't get paid? Otherwise you might only end up with shoppers that don't have agents making your pool of buyers very small. The buyers agent will also write the purchase agreement, can hold the earnest money in their brokerage's trust account, and can help work thru issues that might come up before closing so that is helpful. Here we have limited inventory so I often look for FSBO's that might be a fit for my buyers...and will definitely reach out if they show they want to work with buyer's agents. If you don't offer the buyer's agent commission that means the buyer will likely have to pay for it.

2. Professional photos are a must as they are the key to any marketing pieces. Also I made nice flyer. I bought a template from creativemarket.com and created a nice flyer that was easy to email to people and post on social media. If you don't have photoshop or indesign find a friend to help. Then turn the flyer into a pdf or jpeg to make sure you can easily email and post. If you offer a buyers agent commission, I would also email the flyer directly to realtors. A good realtor will reach out if the home is a good fit for any of their buyers. 

3. Zillow - add a 'for sale by owner' listing. 

4. Facebook ads - Use your personal page to create a post about the home and then create an ad from that. Inexpensive and you can create a very targeted ad.  Include people categorized as first time homebuyers, looking for first home etc. Make sure you stay within Fair Housing laws or Facebook will not approve your ad. Also post to For Sale Facebook Groups. Free but time consuming. You need your ad to get in front of as many people as possible. You can also post an open house event this way too. 

5. the Finder. Here in Minneapolis craigslist is big but you might have luck with the Finder or if Minot has something similar to BisManOnline. Craigslist doesn't seem to be as popular in ND. 

6. Nextdoor. Not sure if this is popular in Minot but it has been getting more use here in the Twin Cities. Another free way to get your home in front of people. 

7. Print fliers and post at the base if you can, local coffeeshops etc. Think about who would be the perfect buyer for your home and where they might hang out. 

One side note. Avoid online for sale by owner websites. Like forsalebyowner.com. I made the mistake of putting a post there and received zero leads...but constantly get calls now .... 3 years later! Thank goodness I used a google voice number so my personal cell is not bombarded. Actually that is a great tip...use a google voice number on your advertising as then the calls are screened for you and you can avoid realtors only looking to list the home. 

Hope something in my post is useful for you. Feel free to reach out directly if you have other questions. Good luck!

Rebecca

I would recommend taking the first course in person. That is the information on the licensure tests and you can take the tests after that course. Then, take the last two online so you can do them as you have time. Also, I highly recommend the test prep course. VERY helpful. Also make sure to take the test right after that course! There is a lot of information and best to test when it is fresh in your mind. I used Kaplan and was very happy with the instructors. 

@Nathan Platter Actually in the city of Minneapolis if the owner occupies the home, so a roommate situation,  you do not need to get a license nor do you need to post anything. If you do not occupy the property then you need a rental license. Also, to convert a single family home to a rental,  the fee is $1000. After that if your rental is in good standing yearly renewal is $70.

Rogue Arc just did some work in my basement today repairing a wall. I have hired them for some other work. Full disclosure ..they are friends.  Licensed and based in Minneapolis but have done work all over the metro. http://www.rogue-arc.com

I also really like TLC remodeling. They do excellent work. http://www.remodelingbytlc.com