The bottom line is that for all for the FSBO Broker's so called services the home owner will be PAYING an UP FRONT investment of over $1,000.00 just to get started. But we're not done yet, the up front fees will not include everything that you may need to market your house. So lets consider just a few of these things.
What about the items that will be needed to hold proper Open Houses?
Public Open House
• Open House Directional Signs - 8 (about $7 each may not include stakes) = $56.00
• Balloons with helium - 18 (estimated cost per Open House) = $18.00
• Ribbon or string - 1 (to tie balloons to signs) per roll $3.00
• Registry - Depends on the type
• Additional brochures - (from FSBO Broker at least 25) $25.00
• Thank You Cards - Depends on type and were purchased
• Stamps - Depends on how many people showed up.
• Follow up calls, letters, and emails - Needs to be done EVERY TIME there is a change that has to do with the property.
Broker's Open House
A Broker's should be the first Open House held. The purposes for a Broker's Open House are listed as follows:
1. You invite Brokers and Agents to pre-view the house; you need to sell them on the house before they can sell it to their clients.
2. Brokers and Agents can give you feedback on the house that you can't get from the general public.
For a For Sale By Owner a Broker's Open House could be problematical, by inviting Brokers and Agents to an Open House you are saying I have a house for sale and no agent, expect every Broker and Agent you invited to contact you soon. But for the owner the benefits will far out weigh the cons.
For a Broker's Open House you will need the same items as for a Public Open House. Now Brokers and Agents will need a bit more incentive than the general public will. Granted you are a seller without an agent, but agents are going to want to talk with you one-on-one, your goal is to get as many Brokers and Agents to your event as possible.
The best way to up your Brokers and Agents attendance will be the use of food and drink of a lunch or cocktail party.
Lunch - the best time is between 12:00 - 3:00 on any weekday. This allows for Realtors to adjusted their schedules and have a late lunch if they eat earlier.
• Food - keep it lite, lunch meat platter and a small selection of bread and or rolls, chips, salads, cheese, and fruit.
• Drink - coffee, tea, sodas, and water (no alcohol).
Cocktail Party- the best time is between 4:00 - 7:00 on a Thursday (best if possible, your not messing with anyone's weekend) or Friday. With this type of event you want the Brokers and Agents to mingle, socialize, and wander through the house and get a feel for it in a relaxed setting.
• Food - catered or finger foods.
• Drink - wine, coffee, tea, sodas, and water.
If you cater make sure you say so in the invitations and fliers. It helps to draw more attendees.
Now The Fun Begins
Now, let talk about showing your home to potential buyers, you call them strangers.
All showings will be by appointment only (it says so on your yard sign). If you think this is a true statement you are not being realistic.
If a buyer or prospective buyer is in the area, they want to see it now not later. I hear stories all the time about people calling or knocking on the door at 9 or even 10 at night wanting to see the house, they know that if the owner is home he/she won't want to take the chance of missing a sale.
If an Agent calls to set an appointment to show a client on a certain day and time frame and are denied or told to reschedule. They will not show, they will fill that time slot with another house and move on. When they have shown an area they move on to the next. Ok you can get a Key Combination box for agents, but how do YOU KNOW they are really an agent, do you want to give them the code over the phone with no way to verify who they really are?
So now you are under house arrest. Are we having fun yet?
I do not want this to be thought of as a how to essay but I do hope that I have pointed out that the FSBO Broker's are not giving out even half of the facts and expense that a Broker or Agent incur when working for our clients and this is just the start of our marketing efforts, getting potential buyer's to see your house is the first step. The home owners will still have to perform all the other traditional duties of a Realtor, and a Broker when it comes to selling their house.
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