FSBO

By Owner

FSBO

Closing Strategy

When you get phone calls and drop-ins, what will you say and what will you do? How will you lead someone from just looking to actually buying? This calls for step five of our plan. First, remember that you're letting strangers into your home. So, for your own safety, let someone else know when you'll be showing the house. Have them call you about 10 minutes into the showing time. If your prospects are still looking, just take a short pause and answer the phone. Leave the outside doors unlocked while you're showing as well. If you need to get out of the house in an emergency, you don't want to be slowed-down by a locked door. Secondly, put away all valuable items like jewelry and credit cards. Also, make sure that any prescription medications you may have are secured. Trust your instincts. If you have a bad feeling about a person or a situation, bring the showing to an end right away... protect yourself always!

Be friendly, but not "talkative". Ask a question or two as you walk through the house. Here are some things you'll want to know:

How long have they been looking for a home?

In which areas are they looking at homes?

Have they been pre-qualified with a lender?

Do they have a house to sell?

In general, when do they expect to move?

What attracted their attention to your house?

The answers will give you a very good idea of how ready, willing and able they may be to make a near term decision.

Your prospects will have questions for you also. Be prepared to answer the following questions in detail when asked:

Why are you selling the house?

How long have you lived here?

Who was the homebuilder?

How long has it been on the market?

Are there any problems with the house?

Why aren't you using a real estate company?

How did you arrive at your asking price?

What is your rock bottom price for the house?

There probably will be more difficult questions as well... be ready for anything they might ask you. And please remember this: You absolutely MUST tell them about any hidden defects in the house. The costs of a lawsuit will far outweigh any savings on a real estate commission!

People who purchase FSBO homes are usually looking for a bargain. They hope you're going to sell the house for a low price. That's why they're here instead of looking at any number of listed homes with a Realtor®. Also, they know that you're saving the sales commission, and they expect you to pass a good portion of your savings along to them! Remember too, that they expect you to have already added your advertising and other selling expenses onto your asking price -- they'll want you to discount most of that as well. Be ready to handle these issues in your discussions of price. Once you find a prospect that's actually ready and able to buy your home, get your contract and financing addendum out and start writing!

CAUTION:
Please be careful how you fill in the blanks and the checkboxes. You are putting together a legally binding contract! Seek advice from an attorney if you have any questions about what you're doing. Remember to provide the buyer with your disclosure as mandated by State law.

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DFW Homes

DFW Texas Homes, LLC - Equal Housing Opportunity. Fort Worth Homes
Southlake Homes, Keller Homes and Fort Worth Real Estate Specialists.
For Sale by Owner, FSBO Home For Sale by Owner, Texas FSBO Homes.