Home sellers sometimes have to be creative. In the Internet age, there are more avenues than ever for people to find homes in their area. It can be very difficult to stand out in a crowded market.
Some sellers resort to listing their homes on eBay. The popular online marketplace has been used to advertise, market, and sell a wide variety of goods and services for many years. eBay real estate listings are an effective way to generate appeal and attract potential buyers.
Selling a home in Texas isn’t always easy. You need to pay attention to current market trends and economic conditions. Take some time to review comparable homes in the area to find out what they sold for. This will help you to establish a realistic asking price.
There may also be unexpected delays or other issues that can happen during the sale process. Determination, persistence, patience and a proactive plan of action can help you accomplish your goal.
Here are a few things to know if you’re thinking about listing your house on eBay.
1. Your home can be listed at any time.
Effective eBay ads need a good description and a few pictures. Your house can be listed as an auction product or in a classified ad. No bids are allowed on items that are placed in classified ads. All that’s required is your selling price. Auctions are more involved. Sellers can see who is bidding on each of their auctions.
You may want to click on a few active real estate listings to help you get started. Pay attention to the selling features and other details that are included in each listing, so that you know what to accentuate. You can also inform your realtor about your intentions to list your home on eBay.
Only licensed realtors can list homes for sale on their site for third parties, so don’t get the impression that you can add listings for friends or family members who want to advertise their homes for sale on eBay.
Many realtors and realty agencies are already using eBay to list various properties. It’s a good way to reach people in local and even international markets. Virtual tours of your home can be conducted using their property tours function.
Pay close attention to the keywords that you select and keep things simple. Don’t overwhelm people with a lengthy description or a massive amount of photos. Use words, phrases, and sentences that are created to draw attention quickly. Don’t waste words or mention items that could possibly dissuade potential buyers.
Setting up a home listing on eBay is simple. Start by either creating an account or logging in if you already have an account. Next, select the “Sell” option. This will allow you to write your listing and add any relevant pictures. You’re probably better off creating a new listing because each home is unique.
The listing type and address should be included in your description. When you’re ready, you can click on “publish” to go live with your listing. You can watch your listing regularly, reply to inquiries and make any changes or edits to the listing as needed.
2. There are charges for each listing.
Classified ads on eBay run $9.95 for a thirty-day listing. Total costs can vary if your home is listed in an auction. Fees are generally set according to the value of the minimum opening bid amount that is allowed. If you sell your house, you’ll be charged a final value fee. These fees are no more than 12.55 percent of the sale or less. Listing fees aren’t refunded, even if your home doesn’t sell after the auction period has expired.
3. Bid winners don’t have any legal obligations.
No eBay real estate auction sales are legal contracts. Winning bidders don’t necessarily have to purchase your property if they don’t want to. However, eBay could suspend the bidder’s account if the person who placed the winning bid doesn’t follow up. eBay operates in many countries around the world.
Since there are so many real estate rules and regulations that vary from one country to another, that’s why all eBay home sales are non-binding. It’s up to the individual buyer and seller to communicate with each other so that a purchase agreement can be drafted.
You may want to ask your realtor about your local or state real estate laws. Don’t promise things that you can’t deliver or could be considered illegal according to those rules. Knowing the laws can save you from encountering potential legal problems in the future.
Conclusion
Just because you list your house for sale on eBay, it doesn’t guarantee that you’ll be able to find a buyer. You’ll still need to do your due diligence and use other avenues to promote your home. Your realtor can assist you with those tasks, and they should also schedule open house showings.
Pay attention to the showing schedule to ensure that you’ll be absent for each appointment. Clean the home thoroughly before the first showing and make sure to wipe down and clean floors, hallways, and other commonly traveled surfaces after each showing.
People are not obligated to buy homes that they’re interested in or have made bids for on eBay, so don’t be disappointed if a potential buyer changes their mind after your listing or auction has ended. You can always move on to the next interested party. If your property is priced competitively, you shouldn’t have to wait very long to receive your next offer, anyway.
When you accept an offer, you’ll work closely with your buyer to draw up a sale contract. Both parties should read the contract carefully before signing. An inspection and final walkthrough should be scheduled. At closing, all final paperwork will be signed and filed, The buyer will receive their keys to the home and the property title will be transferred to their name.
You’ll be given your payment for the net proceeds from the sale, which are yours to do as you see fit. The money could be set aside for a later date or put toward the purchase of another home or other big-ticket item. Whatever you decide, you can rest easy knowing that chapter is finally behind you. It’s time to look forward to the next phase in another location.
