What is the most important reason to sell the home on your own?
(A) To save money
(B) Do not know who to call
(C) I know what I am doing
(D) Will be calling an agent, just wanting to try myself first
Select Properties Realty, LLC - 1001 Emerson Avenue, Parkersburg, WV 26104
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For Sale By Owner Help Page
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€- This tool kit will prepare you for the most common situations that you will face as a FSBO. You'll learn step-by-step the basics about pricing, marketing, writing ads, qualifying, negotiating, financing, closing costs and much
  Selling your own home in West Virginia & OH is complex, so you need to be armed with the right tools to succeed. This tool kit will prepare you for the most common situations that you will face as a FSBO. You'll learn step-by-step the basics about pricing, marketing, writing ads, qualifying, negotiating, financing, closing costs, and much more.
FSBO Challenges:
Pricing Home is Difficult
Limited Exposure
Handling the Sales Process
Qualifying Buyers
Negotiating Price and Terms
Sacrificing Weekends to Show Home
People Who Don't Show up for Appointments
Strangers in your home
Why FSBOs fail
Home is overpriced
Unable to qualify prospects
Not asking for the sale |
| Tips for Showing Your Home |
 Start your tour outside by pointing out all the recent improvements such as a new roof, landscaping, siding, windows, etc. Depending on how your exterior checklist looks, you may want to give the buyer a copy. Inside the home, walk backwards ahead of buyers. You don't want to miss the expression on their faces.
- Be sure to turn on all lights to make the rooms appear bigger
- Don't walk inside the smaller rooms such as bedrooms or baths
- Don't stand in the middle of any room
- Encourage buyers to open closets and cabinets
- Instead of pointing out features, ask questions such as "What size dining room furniture do you have?" - when in the dining room
During the tour, watch for buying signals such as: 
- discussion on how furniture will be placed in a room
- complimenting various areas of the home
- asking lots of questions
- smiling
If the buyer asks "Is this included?" Simply respond by saying, "Would you like it included?" If they say, "Yes, we need it." You say, "Sure, I'll consider it."
Closing Questions:
- Ask them "Would you like to see any of the rooms again?"
- Do you feel this home meets your needs?
If yes, "Would you like to make an offer?"
If no, find out why the home doesn't meet their needs. No matter what they tell you, there's only one way to respond and you have to keep asking until discover the true objection. You see most people will throw out a smoke screen (an objection that's not really important). You need to get to the main objection. Here's some examples:
Buyer: "We think the bedrooms are too small and wouldn't be able to accommodate our furniture."
You: "So, if the bedrooms were bigger, you would make an offer?"
Buyer: "No, we really wanted all the appliances included."
You: "So, if the appliances were included, you would make an offer?"
Buyer: "Well, we're not really sure we can afford the taxes."
You: "Are you concerned about qualifying for the mortgage on this home?"
Buyer: "Yes"
You: "So, if you were certain you could get a mortgage on this home, you would make an offer?"
Buyer: "Yes"
You: "Let's do this, we can include a 30 day mortgage contingency in our agreement which will protect you in case you can't get a mortgage. If you don't qualify, you'll get your deposit back. You can't lose. Is that acceptable to you?
That's it! The bedrooms and the appliances were smoke screens and not really true objections. You need to keep asking until you get to the real objection and only then can you begin to answer the objection. | |
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Pricing your home to sell!
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| Pricing Your Home to Sell |
 Pricing your home correctly will ensure that you will be successful in selling it yourself. Most FSBOs overprice their homes. Why?
Sometimes the price is based on emotional reasons ... "I lived here all my life, I raised my children here ... We planted that tree 30 years ago when we got married." You get the idea. Unfortunately, no one will pay for someone else's memories. Are you willing to pay a higher price for your next home just because the owners have fond memories of the place? I didn't think so.
Another popular pricing method is when FSBOs add their home improvements to the selling price of a neighbor's home. Here's why that doesn't work: Let's say last year you got an in-ground pool that cost $20,000. Now you're being transferred. Your neighbor's home (which is identical to yours) just sold for $195,000. You price your home at $215,000 (after all, you have an incredible new pool), but according to the Multiple Listing Service, there are 3 other homes in your area for sale priced around $199,000.
 Here's the hard facts: In New Jersey, you're not going to recoup the cost of some home improvements such as a pool. In fact, many people will not consider your home if it has a pool. Pools are a hazard for families with young kids (a lot of kids drown every year due to backyard pool accidents). Retired couples may not want the expense or the required maintenance of having a pool.
So, in this example, if you really wanted to sell your home without a real estate professional, you should price your home at around $195,000.
 Keep in mind: Your goal is to save the commission. What's the buyer's goal? Why would a buyer purchase a home from a FSBO when they can (for free) use the services of a real estate professional and get access to all the homes in the Multiple Listing Service? Why would you purchase from a FSBO? The answer is to get a good deal. Ask yourself: How can the buyer get a good deal and the seller save the commission? It's not possible.
That's why pricing your home correctly is vital. Buyers will be armed with facts. They will have seen a ton of homes and will know exactly what your home is worth. But, they will not make an offer if you're not priced right. | |
| Expenses You Will Incur |
Here's a handy checklist of costs you'll incur:
Pre-closing Costs
- Sign for the Front Yard
- Newspaper Advertising
Closing Costs
- Attorney's fee
- WV Transfer Tax
$4.40/$1,000 of Sales Price
- Radon remediation
- Real Estate Commission
- Required repairs resulting from Home Inspection or Insect Damage
Remember if you price your home too high, you'll incur higher costs for advertising since you'll have to advertise for a longer period of time. | |
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