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Thinking about playing the FOR SALE BY OWNER GAME?

By
Real Estate Agent with REMAX

The Hassles of selling your home
"FOR SALE BY OWNER"


"6 things to think about before playing FSBO Follies"

1.  Will you BE HOME to open it up each time a prospect wants to see it?  
So many times "house hunters" only have just a few days on their trip to town to look at your house.  If you can't be home from work or school, etc, to have it open they will only pass it by.  Realtors have ELECTRONIC "lock box" keys that allow buyers into your home AND the keys will record the day time and agent that opened your home.  This way I can get feedback and know of all repeat visits.  Not only that, are you a good sales person?  Do you know what to say and what NOT to say.  Too often if you say just one thing wrong you can loose a sale forever, or you may give the impression to the prospective buyer that you may be too eager to sell.  In the later case, you will get a very low and ridiculous offer and be personally offended.  That's just the business, so leave it to the professional to show and talk-it-up.

2.  Are the lookers to your home "REAL PROSPECTS?"  
Yes, there are many people that are just plain nosey.  Do they have credit?  Are they really interested in buying?  Have they be pre-screened or pre-qualified by a bank?  What other homes are they looking at?  You really never know.  So you open your home, give your un-trained sales pitch, they look, they leave and only to get ideas about your taste in decorating. 

3.  Do you just let ANYONE into your home?  
Yes! your home is your castle.  Don't just let anyone in to SEE your goods.  This could lead to a possible theft when you leave for the weekend.  Realtors only have serious buyers to see your home.

4.  Not in the MLS? - Think you can honestly sell it?  
Your best bet is to have it marketed with an MLS listing.  There are over 5000 homes listed for sale in the Greenville MLS alone.  This accounts for approximately 97% of all home sellers.  Without listing, internet marketing, magazine marketing, signs, flyers, etc., your 3% market share looks rather dim.

5.  Most buyers are working with a Licensed Realtor   
So many REAL PROSPECTS are driving down your street, when they are looking at homes they are most likely under the escort and advice of a Realtor already.  Most realtors are "RELUCTANT" to deal with homes that are FSBO "For Sale By Owner" because they KNOW that they will be dealing directly with the owner that most likely doesn't understand the details and the current, ever-changing, laws, mortgages, inspections, building codes, clauses, qualifications, deed stamps, commissions, closing costs, etc.  All Real Estate Professionals attend many months in training and pass rigorous tests to PROVE their salt.  There is no way that an owner can be this versed on transaction procedures UNLESS they themselves are a REALTOR.

6. So you find a serious and interested buyer. 
Can you handle the legal paperwork without representation? 

Get a trained professional that would save your $$$$ in the long run.  Many people have Income Tax Preparers complete their taxes for a small fee or percentage, well the same rule applies here with your largest financial asset with a Trained Professional Realtor.

"JT" Prevatte
Former Agent - Fayetteville, NC
I can't believe that there are no comments for this blog!  This is good work.  As a FSBO chaser myself I am always looking for new ways to give them information.  THANKS!
Mar 02, 2007 11:14 AM