• 6 Things FSBOs Should Know •

1. Ease of showing is nearly as important as price in getting your home sold.
It's worth it to have a neighbor that you can call who can show the house while you are at work or out of town. Real buyers won't wait around for a convenient time for you... especially in a fast market. They'll be off buying the house they can see right NOW.

2. You should leave when potential buyers view your home.
Buying a home is an emotional process. A buyer who doesn't feel comfortable enough to look in closets, behind medicine cabinet mirrors, behind toilets and such, is a buyer who won't feel comfortable enough to make an offer. Give them the chance to "make the home their own" by taking their time by themselves to begin to picture themselves living there. Wait outside to answer and ask questions.

3. An overly excited buyer is likely not a real buyer.
A buyer who is giddy, excited, and "can't wait to bring an offer" is often unprepared and/or unqualified to buy your home. Real buyers will typically hold their cards close to their vest so they don't give away their negotiating position.

4. A Pre-qualification letter isn't worth the paper it's printed on... unless you know the lender.
There are many predatory lenders out there that will give out pre-qualification letters to almost anyone... often before verifying credit ratings, employment history, and debt ratios. It's common to see homes tied up for weeks with accepted offers that turn out to be impossible to actually close because of a hastily generated prequalification letter for unqualified buyers.

5. The little things are the big things.
A buyer doesn't see a crack in the wall and assume it's just the home settling a little. A buyer sees a crack in the wall and assumes the foundation is failing. A buyer doesn't assume a slight odor problem will go away with a good carpet cleaning. A buyer assumes the carpet, pad, and possibly the flooring will have to be replaced to get rid of it. Small problems to you are BIG problems in a buyer's imagination. Fix the small stuff to ease the buyer's mind about the big stuff.

6. Buyers are looking to save the very same money that you are.
It almost never costs a buyer a dime to use the services of a real estate agent because the buyer's agent is almost always paid from the seller's proceeds. So why would a buyer shop For-Sale-By-Owners? Because they know the seller is saving money by not using a REALTOR and they want in on it. Study after study has shown that homes sold through Real Estate Agents sell for a higher percentage than For-Sale-By-Owner homes do... usually for a higher percentage than what a REALTOR charges.