Hello all~ I'm looking for some tips & guidelines for showing properties to my potential buyers. I will be selling at retail / FMV.. I'm not a real estate agent, so haven't had any training or guidance in that area. I've done some searching to no avail. Surely much of it is common sense, but I thought I would ask the experts ~ I'm sure there are things that I haven't thought of.
Consider working with an agent on the first property learn what you can and cannot do. You can check out FSBO I am sure they have resources.
You might consider a discount agent. It costs more than a service that just puts your house in the MLS(flat-fee), but it should come with at least minimal guidance.
If you are going to go FSBO one option is to check out the competition(both MLS and FSBO) and see what they are doing.
I am an agent now, but have sold FSBO prior to licensing. I advertised on Craigslist (this was back in the early days of Craigslist) and in the newspapers. I had a sign in front of my house.
When none of that worked, I found a real estate agent who would list my property for a flat fee on the MLS. I offered a buyer's agent commission, didn't have to pay for the listing agents commission, and put a lockbox on my house. When the agents called to schedule a showing, I gave them the code and left.
Most people feel uncomfortable with the seller is in the house. They don't feel they can discuss the home honestly, and they don't spend much time there. I would recommend you leave the property whenever an agent is showing it.
When you have a direct buyer with no agent representation, I would take them on a very brief tour, then tell them you are stepping outside so they can walk around by themselves and really check it out. You'll be in the backyard if they have any questions.
I am a firm believer in signs around the house to point out things that may be missed. Heated floors, USB outlets, special features in the kitchen? Your showing flyer should have pictures of the house on the front and a list of features on the back. But you could make a list of features for each room and post that in the house. That kind of gives the tour for you. You could put them into an inexpensive frame so that they don't walk away, or affix them to the wall.
If you are selling rehabs, make sure to point out everything you did that may not be so obvious, like electric and plumbing.
It may seem like the smart move to not have an agent, and like I said, I have sold FSBO twice before. They take a lot longer to sell and you don't really save that much in the long run with your holding costs. Commissions are not set in stone.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!