August 23rd, 2013 12:48 PM by Bennet Oubre, MAI
There are several reasons for selling your
house yourself. Some that make sense; some that don’t make sense. I’ve even taken
this route myself, with mixed results. I am a do-it-yourselfer, so I understand
that too, maybe that’s a driving force for you. Well, let me give you a few
Note: I thought I would dash off 10 tips
and be done with it. That didn’t work. There were too many thoughts; too many
experiences. 10 tips turned to 15, then 20. There are more, but you have to
Sale By Owner
This is 1 of 3 articles written to Help FSBO
Part 1: Tips for
Baton Rouge FSBO’s (For Sale By Owner)
Part 2: My
Experiences with FSBO’s. Tales of Woe and Tales of
Part 3: What
happens after the contract is signed!
Don’t take your neighbors word on what things sold for. Don’t use other
people’s asking price for setting your price. Find out solid info on modern
sales. Practically same square footage, beds, baths, degree of updates, etc.
Don’t fudge here. Today’s buyers know prices, you can’t overprice.
Realtors for their knowledge, they know what properties in certain areas are
selling for, some might want up to $150 for a Comparative Market Analysis (CMA)
or use one of my Realtors for FREE!
§ Decide if
you will work with Realtors. You are allowed to negotiate commissions!
While you wouldn’t offer the full commission, there are realtors who will bring
you homebuyers for a reduced Commission (2% is common, but it is up to you).
Just be sure it is set beforehand.
callers if they are pre-qualified or pre-approved for a loan. Don’t waste your
time on “lookers.” You can always have them call me 225 819
§ Make a
great flyer. Possible buyers may scribble down your number, but they won’t
remember what it was for by the time they get home.
§ Make it
easy for buyers to reach you – phone and email. Get the “house for sale”
on the Internet.
§ It Must be
on the net. Make a video (use Animoto). Post it on FSBOBR.com, YouTube.com,
CraigsList.com, even Facebook. These group network sites are the rage now.
Google loves them and gives priority ranking to them.
§ Consider opening
a Gmail account specific to the house (1234Oakdr@gmail.com) You don’t want to miss an
opportunity because an interested buyer got lost in all the Macy sale emails!
Plus once you sell the property you can delete the account.
your phone! Buyers Won’t call back. Make it easy for homebuyers to reach
you, not difficult.
§ Make it
ready to see. “I can only show from 2-4 on Saturday” won’t work. Do you want to
sell it or not?
§ Don’t be
vague and hesitant. Know what price you want and either you will do owner
finance or not. Know what closing costs are. Know lender requirements, interest
rates, down payment required. If you are going to be a Realtor, be a
knowledgeable one. Find a lender who will help you. Have agreement forms ready.
§ If your
home qualifies for special programs ADVERTISE IT, this could be the difference
between someone picking your property over another.
§ Do capture
phone numbers for follow up later.
§ Have your
Disclosure forms filled out and ready for homebuyers.
§ Don’t fib
on those disclosure forms. There are some cases where these are not necessary,
but in general, you must furnish them. (Estate sales, foreclosures are 2
§ Make that
house sparkle! Get the family out. Buyers will feel like they are intruding if
your family is there.
§ Never show
the house alone, have a spouse friend or neighbor with you. Yes we want to sell
the house but let’s keep safety in mind.
§ Follow up
with possible buyers. They say they will call you back…they won’t! You call
them! Decide on a time period.
§ If your
house is vacant, try open houses. This is a low-key way for people to see your
Well, that’s my guidance – my top 20 or so tips for
helping For-Sale-By-Owners. I wrote it swiftly and didn’t cover everything,
but hopefully it’s helpful. I appreciate the opportunity to earn your business
and your buyer’s business. I have both sold and purchased homes through FSBO
websites, and made more mistakes than I would like to admit. But hopefully my
mistakes will benefit you. If I can answer any questions, or help market your
home please give me a call.