For Sale by Owner Resources

Welcome to FSBOBackupPlan.com! 

Inside of this simple page, you will find several resources to help you along the way while you are selling your own home. 

I have put together info on every stage of the process including pricing your home to sell (NOT GIVING IT AWAY), Marketing your home, Conducting a powerful open house, Handling negotiations, Navigating the home inspection, and the home appraisal process. 

Below these resources, you will find all the details on my For Sale by Owner backup plan. If you find that the process of selling your own home is not going the way you want it to go, let's set up a time to get together and talk through what it could look like to implement this plan.


Pricing Your Home​

I hope that you are finding success in your home selling journey.  As you may or may not know, pricing your home right from Day 1 will ultimately determine how much you get for your home.  Price too low, and you will risk losing thousands; but price too high, and you run even a bigger risk of going stale on the market. 


Tip #1 – Pricing

 

You must always be asking yourself if the price of my home, with the amenities I have, is helping the other homes around me sell, or do those homes help me? Simply put, how does my home compare to that of my competition? You want to stand out from the crowd.  Price your home in such a way that your home becomes the obvious choice to home buyers looking in your area.   


Marketing Your Home

As you are well aware, marketing your home to as many people as possible will help to increase the demand for your home.

Tip #2 – Property Marketing.  

Here are some marketing tips and ideas that you may not have thought about:

1.Yard signage
2.Directional signage
3.On-line real estate ads
4.Social medial ads
5.Sphere of Influence
6.Open house
7.Co-op with Buyer agents


Be sure that your ads are descriptive and as detailed as possible so that you can drive more traffic to your home!

As a special bonus, you can click the image to the left and download our Fo​r Sale by Owner Marketing Tool Kit


Pre-Qualifying Your Buyers

When buyers inquire about your home, and want to set up time to see it, make sure you pre-qualify them before letting them in!

Tip #3 – 
Pre-qualifying buyers.  

Here’s a list of things you’ll want to do prior to scheduling any showings with buyers:

1. Request a copy of the buyer’s pre-approval letter from their bank.
2. Call the buyer’s loan officer to discuss buyer’s loan approval.
3. Discuss with the buyer what attributes about your home interested them the most.
4. Ask the buyer if they are contingent on selling a home prior to submitting an offer.
5. Discus the buyer’s timelines.
6. Never show your home alone! Be sure you have someone else with you at all times.


If you have questions after a showing, don’t hesitate to reach out to me and I’ll get you the answers you need.



Hosting a Killer Open House

Open houses can be one of the most useful tactics on driving buyer traffic. 

Tip #4 – The Ultimate Open House.  

Conducting an Open House event works great when done properly. Below is a step- by-step guide to help you prepare for your open house event.  

1. Start marketing your open house at least one week in advance.
2. Run social medial ads for one week leading up to the event.
3. Communicate to all realtors of your open house event.
4. Send a letter to your neighborhood inviting them to your event as they may know people looking to buy in the neighborhood.
5. Signs, signs, everywhere are signs on the day of your event.
6. Make sure you don’t wait until the day of the event to start marketing or you will be very lonely.
 



Offer Negotiation Strategy

Once offers start to come in, understanding simple offer negotiation tactics will make all the difference. 

Tip #5 – Offer Negotiation Strategy

1. First, understand that all offers are good news.
2. The way you respond will be dictated by how long you’ve been on the market.  As an example, if your home is new to the market and you get an offer right away, you’ll have the leverage throughout the negotiations.  However, if your home has been on the market for quite some time, you may find yourself losing that leverage to a perspective buyer.  This is why its critical to price your home right from Day 1 as your offer strength is a direct correlation to how long your home has been for sale.


As you start to get offers, there may be things in the contract that you have questions about.  If so, never hesitate to reach out.


Handling the Home Inspection

After you accept an offer, the buyer will most likely exercise their right to have a home inspection done.  

Tip #6 – Your Home Inspection options.  

After the buyer’s home inspection is complete, often there are times when a buyer will request you do repairs or offset those repairs with some type of concession.   Here are your three options:

1. You’re not obligated to do anything.
2. Renegotiate with the buyer to come to a middle ground.
3. Agree to the repairs or concessions and move forward towards closing.

As a special bonus, you can download our Complete Home Prep Guide which includes a very detailed home inspection checklist that will help you avoid any hiccups in the home inspection process. Just click the image to the left to download your free copy today. 


How to Handle the Home Appraisal

If the buyer of your home is getting a mortgage, they will have to get an appraisal.  

Tip #7 – How to Handle the Appraisal.

1. Always meet the Appraiser at your home.


2. Prepare a detailed list of home updates and upgrades that you can provide the Appraiser.

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