One of the bonuses of not having a realtor sell your home is that it can be very financially rewarding to you, as you can save thousands of dollars on commissions.  This was likely one of the main aspects that motivated you to take on the task of selling your home yourself.  However, the disadvantage of not having a real estate agent is that you are now in charge of advertising your home, and making it appealing and attractive to buyers.

Many homeowners who sell for sale by owner try to spend as little as possible when it comes to advertising their home.  They will limit their spending to a cheap yard sign and posting an ad in the local newspaper, but in today’s real estate market, that is simply not enough.  Thus, if this was going to be your selling approach, it’s time for you to reconsider your advertising technique, and create a realistic marketing budget that will dramatically improve your chances of selling your home.

How do you create a marketing budget for your home?  Creating a budget for your home is no different than creating any other budget.  For instance, if you were putting together a budget for a vacation, think about what you would need to consider when creating your financial plan.  Once you have determined your budget, you then begin putting money aside for your vacation, and spend your money accordingly.

Here is a basic $1500 budget example for a one week vacation for a single person-

• Return airfare – $300
• Accommodations – $450
• Public transportation – $50
• Food – $250
• Entertainment – $250
• Spending money – $200

This same principle can be applied to a home advertising budget.

Of course, this doesn’t mean you need to pour thousands of dollars you can’t afford into your budget either. It’s difficult for a FSBO to pay for everything up front and then wait to receive their selling money at the end.  Remember, you’ll be repaid for aggressively advertising your home with a quicker sale and month’s worth of saved mortgage payments.

Essentially, you need to consider different elements of advertising for your home and their individual costs, and then create a budget that you can disperse to the various marketing techniques you will employ.  When all is said and done, you should expect and be prepared to spend a minimum of a few hundred dollars on advertising.  However, it is important that you create a realistic budget to keep your finances under control. 

We, at CentralWI By Owner, understand how difficult it may be to create a marketing budget for your home, as well as your reluctance to not overspend on advertising.  But in today’s market you must be aggressive with your advertising.  CentralWIbyowner.com is essential to selling your home because buyers will always come back to your internet listing no matter where they see your home advertised.  Why?  Your home’s complete description including amenities, room descriptions, location, pictures plus much more is always easily accessible to buyers online.

You will find that creating a marketing budget for your home will pay off.  Strong and targeted advertising will help you sell your home sooner rather than later.

Contact us or join CentralWI By Owner today! We look forward to helping you save thousands on commission costs.