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The Real Estate Encyclopedia

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For Sale By Owner Facts and Tips:
 
Most of the buyers calling for sale by owners think they can save money because the home owner doesn't have to pay a commission.  They think they can knock the commission off the sale price!  Remember, there will be buyers who will give you ridiculous offers
 
Nationally, it has been shown that the seller will make far moremoney after the commission is subtracted than if they try to sell the home on their own.  
  •   Familiarize yourself with contracts, home inspections, State Law diclosures and requirements, escrow accounts, contingencies, title insurance policy, home owners insurance and financing options for buyers.  You don't want to lose a buyer because you didn't have the knowledge.
  • Advertise your open house. Ideally you should advertise both the weekend before and the weekend of the open house. Check with the local paper to see when their ad closing deadlines are.
  • Create a property summary sheet. This sheet gives prospective buyers an overview of your home. Include dimensions for each room, copies of a property survey, summaries of utility costs and property taxes, and a list of when capital items, such as roofs and furnace, were added.
  • Develop a sign-in form for prospects’ addresses. You’ll ideally want both phone numbers and e-mail addresses to follow up with prospective buyers.
  • Put up signs. One or two days before the open house, place directional signs at major intersections within three to four blocks of your house. Be sure you check on anti-sign regulations in your area.
  • Get your house ready. Remove clutter, clean your house spotless, wash your windows, add flowers, turn on lights, open draperies and blinds, remove valuables and breakables, confine pets, and set up a table for your property fact sheet near the entrance.
  • Develop a follow-up sheet. Getting feedback on your home from prospects who attended your open house will give you a better understanding of how to make your home more appealing to buyers.
  • Beware of strangers entering your home with intentions other than buying.  There have been some horrifying stories so you must have a plan in place.
 
Most homeowners have their life savings tied up in their homes so they seek to hire a professional to insure all goes well. If you decide to hire an agent please invite me into your home so I can show you my professional marketing plan. My contact information: c.werz@kw.com, 610.306.4914(Cell), 215.961.1434(Direct)