Hosting For Sale by Owner (FSBO) Open Houses are a great way to sell your investments as is allows you to effectively market your home, but only if it’s done correctly. By making a few simple mistakes or overlooking key points, you can hurt your chance of selling your investment property. By following a few simple tips for hosting FSBO Open Houses you’ll increase the chance your home sells quicker without having to pay for the assistance of a real estate agent. To ensure your open house is successful, here are a few key tips to follow:
Prior to hosting an open house, you need to spread the word and generate as much interest as possible. Create advertisements and flyers to attract potential buyers to your home. Be as prepared as possible, as well as include important information about your home to the visitors of your open house. Make sure your home is staged for the open house too.
When your guests arrive at your open house, you want them to be as comfortable as possible; therefore, provide snacks and refreshments. Keep a detailed log of the guests so you can follow up with the potential buyers after the event. Also, make sure you have information printed about the house, schools, demographics and any other necessary information on hand for the open house attendees.
When your guests arrive, you don’t want to seem desperate when selling your home or you may come off as pushy, which will detour potential buyers. Don’t try to make any on the spot agreements or commitments, as well as provide any information you aren’t certain about, such as warranties. Most importantly, be honest. Don’t try to hide any information from the potential home buyers.
If you’re looking to sell your home without the aid of a realtor, hosting an open house is a great way to potentially receive multiple bids on your property. By putting in a little extra effort yourself, you can effectively sell your property while avoiding Realtor commissions.