A Near Perfect FSBO Experience! (Part 1 of 3)

Short of being there as it happens, one of the best ways to understand how the “For Sale By Owner” process works is to give you a real-life example. So let’s take a “conversational” walk through of a near perfect FSBO (For Sale By Owner) experience.

We’ll start at the “Open House” and I’ll take you with me (and my buyer) right through to the closing (where we walked away with a nice 5 figure paycheck)! 

Sound good?

Then let’s get started:

Knowing that an “Open House” was a great way to attract buyers, I decided to have one every Saturday from 12-2 until my house sold. 

I told everyone I talked to about my Open House plans. I put it on my voicemail (in case I missed a call). I printed it at the bottom of every flyer. And I put “Open House” signs up next to my “For Sale By Owner” signs every Saturday morning so that everyone within a mile of my house would know there was a house “For Sale By Owner” and that I was having an “OPEN HOUSE”.

My first weekend, I didn’t have ads running and it was raining most of the day so I only had 2 people show up but they were there because THEY SAW MY OPEN HOUSE SIGNS!

My second weekend was much better. We had at least 8 or 9 people show up this time.

One woman in particular walked in, looked around the house for about 20 minutes, talked about how much she liked our choice of paint colors, our choice of tiles and how the crown molding was a "perfect finishing touch". 

Of course I said "thank you, thank you I appreciate that" and a moment later she picked up one of my flyers off the kitchen counter, said “Thank YOU!” and out the door she went. 

I really didn't think much about that little encounter, until ...

About 45 minutes later she was back. She said “I wanted my friends to see the house if that’s alright” … I said “Absolutely. Come on in. Feel free to walk around!” And she proceeded to give her friends a nice tour through the house, pointing out everything she liked.

I was thinking “Wow, she must be pretty serious if she’s calling friends to come over and look at it with her … COOL!”

Twenty 20 minutes later, she tapped me on the shoulder as I was showing another couple through the house and said “excuse me, I just wanted to tell you that you have a beautiful house, thank you again”. 

And then she turned and headed for the door.

Of course I’m smiling as I wave goodbye, saying “thanks for coming by” … but in my mind I’m thinking “Damn Damn Damn! Isn’t she going to make an offer? I thought for sure she was going to make an offer. DAMN!”

And in hindsight, I SHOULD have said …

“Thank You, I Appreciate That. Did You Want To Make An Offer On The House?”

But I didn’t. That could have been a “missed opportunity”. So please take note. That’s a question you’ll want to make a point to ask anytime someone shows an interest in your house! It’s a perfect question to help you to start a conversation that leads to a sale.

I made a mistake in not asking that question but fortunately for me my day wasn’t over.

Ten minutes later, as I’m showing people through one of the bedrooms, I notice through the window that she hasn’t left yet. I could see her outside in the middle of the front yard talking with her friends.

My first thought was “hmmm, don’t get your hopes up, they’re probably talking about where to go for dinner”.

Five minutes later, I’m standing in the living room and I see her walking up to the front door. I had my door wide open during the Open House because I felt it would encourage more people to come inside versus just driving by. 

Anyway, she walks up, does a polite “knock knock” gesture at the front door, looks in at me and says ... “Can I talk to you for a minute please?”

(Be sure to come back for Part II Will She Make An OFFER?)