Open Houses for FSBO Sellers

The first requirement in finding a buyer for a home is to make sure the pool
of potential buyers know it is on the market. For FSBO sellers, holding an open
house can help to get the word out to buyers.

Open Houses

Open houses are very effective at helping sell real estate in many parts of
the country.

Real estate agents use open houses constantly to generate interest in homes
[and get new clients]. Should FSBO sellers (people who are selling their own
homes) also use open houses to generate buyer interest? Yes, with one caveat.

Location, Location, Location

The cliché “location, location, location” applies to more than one
aspect of real estate. Not only does it address appreciation issues, it also
applies to open houses.

First of all, the FSBO property needs to be located in an area where open
houses work. This area tends to be in city, town and suburbs where the housing
market is hot. Holding an open house usually works well where the following
circumstances exist:

1. There is a good population base,

2. The home for sale can easily be seen by a lot of people,

3. There are more buyers than sellers, and

4. Properties sell rather fast in the area.

Rural areas and areas in which sales are slow don’t generally work very
well. Perhaps worse, the FSBO seller can become easily disillusioned with low
turnouts. If your home is in one of these areas, you’re probably better off
listing it on the Internet.

An open house is a great tool for FSBOs living in a suitable location. Are
you one of them?

Raynor James is with http://www.fsboamerica.org
- providing FSBO homes for sale by owner. Visit our "sell my home"
page at http://www.fsboamerica.org/seller.cfm
to list and sell your home for free for one month. Visit http://www.fsboamerica.org/buyer.cfm
to see homes for sale by owner.