October 14, 2007
Open House Sunday – For Sale by Owner Tips.
If you’re trying the do it yourself approach to selling your home, it’s important to realize just what a real estate agent actually accomplishes behind the scenes before showing a home to the public. Sorry for sale by owner (FSBO) sellers – it’s just not as easy as it looks! Without trying to sound overly pessimistic, I’m going to try to outline some of the things that don’t work for open houses.
FSBO Open House Tip #1
I’m not trying to be ornery here, but for my first tip, can I urge you to reconsider? If you’re determined and willing to put some time into the deal, sure you can come out ahead by selling your own home and by hosting your own open houses. But unfortunately, most of us just don’t have the stamina or experience to make it turn out right. Weigh your options, but seriously – a real estate agent might be the best bet. With the right agent, you’ll probably make more, even after paying commission.
FSBO Open House Tip #2
Okay, you’re determined. I respect that… If holding open houses is a major part of your FSBO game plan, make every little bit count. The home needs to be whistle clean without a speck of dust anywhere. It also should smell clean and fresh – try doing a couple loads of laundry beforehand, sometimes the fresh clean laundry scent fills the whole home with pleasantness.
FSBO Open House Tip #3
Don’t count on the black and red sign – you know the generic yard sign you can buy at practically any store that says “For Sale” or “Open House” and then has your phone number hand written in a white block below. These are often viewed by buyers as a sign to run away if they even see them at all. I’m not implying that a yard sign really has too much merit, but go ahead and spend a hundred bucks and have a professional sign shop make something that will stand out and attract attention.
FSBO Open House Tip #4
Just expecting visitors to show up doesn’t work. You’ve got to market your open house. A good place to start is with your immediate neighbors and then the surrounding neighborhood. Make professional looking flyers for your open house and either mail them to all of the neighborhood or hand deliver them. This will mostly attract nosy neighbors that just want to see the inside of your house and compare to theirs, but if they like it, they might pass the word on to a friend or relative that could be interested in buying in the recommended neighborhood.
FSBO Open House Tip #5
It’s a rule… You officially cannot host your own open house. Or at least, you probably don’t want to and you really shouldn’t. Hire a neighbor to run the show on your behalf. The neutrality will let home shoppers do their thing in their own way without any hard feelings by either party.
So if you’re still determined to do the FSBO thing and have the perseverance to handle the whole process, along with hosting an open home, then more power to you. The more motivated you remain, the better your chances of success will be. Best of luck!
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