Investor Tips for Hosting FSBO Open Houses

Frank Chen

Hi, this is Frank Chen with REIClub.com, the only site you need as a real estate investor. Today I've got a quick video on fsbo open houses.

Hosting open houses are great ways to effectively market and sell homes. If you are attempting to sell your investments by yourself without the assistance of a professional real estate agent then you need to keep a few essential open house dos and don'ts in mind to really make your open house successful.

Do's

Stage your home if possible
Create as much interest as possible before your open house and make sure you are completely prepared.
Try and make your open house visitors as comfortable as possible; think about serving snacks and refreshments.
Make sure you have printed flyers for potential buyers to take with them.
Make sure you have a guest log to record everyone who comes into your home.
Have available as much detailed information as possible, you should be able to get information on area schools, demographics, business and anything else that is online for free that you can print out.
Let your neighbors know about your open house plans, hopefully they will cooperate and not be throwing parties at the same time.
Follow-up with interested buyers

Don'ts

Don't give your property to Real Estate Agents who want to list your property until you have tried yourself, if they offer you to sell it at a lower commission, something to consider.
Don't be pushy and try to hard sell visitors, you may come across as being too desperate.
Don't make any on the spot commitments or sign agreements without taking the time to discuss and think it over.
Don't make any guarantees or warranties you are unsure of.
Don't hide information, if its not perfect and you plan on making it better before the buyer moves in, let them know.

If choosing to sell your home without a realtor, an open house is a great way to attract potential buyers and receive multiple offers. Many homeowners use a realtor because it allows them to take a hands-off approach, but by putting in some extra effort, and doing it yourself, you can avoid paying hefty Realtor commissions, which can quickly decrease your net profits.

Again, this is Frank Chen with REIClub.com. Please take the time to leave your comments for this video below and please subscribe to our YouTube channel so you'll be automatically notified when we upload more quick video tips for you. Take care and good investing.