Today was open house day for myself and my business partner, Will, in Beacon Point.  We help Lennar with their spec homes in Beacon Point and have been given the opportunity to hold them open one day each weekend.

fsboWe just got everything set up and ready to go when I noticed a home down the street with a "For Sale By Owner" sign in the yard.

This was the first I had seen of this sign so I was curious about what the sellers were asking and which model the home was.

I took some literature and walked down the street because I saw the front door open.  I'm usually very wary of calling on FSBO's because they are just hammered with Realtor calls and literature from the time the pound the sign in the ground.

 

I decided to be brave and see what happened.

The seller was sitting on the floor at the entry touching up the paint on the baseboards.  I introduced myself and told her I work heavily in the Beacon Point neighborhood.

She didn't have fangs or a gun and didn't slam the door in my face, so I asked her if I could have a tour of her home.

I walked through with her making some minor staging suggestions and asked her what she was selling her home for.  She said she had not decided what to sell it for and the sign just went into the ground that afternoon. 

I asked her if she would like me to prepare a market analysis for her so she could get a better idea of what her home would sell for.  She wrote out her email and phone number and said she looked forward to receiving the information.

I'm not sure if it will turn into a listing, but at least I overcame my fear of calling on FSBO's. 

Apparently they don't all eat Realtors for dinner.

Belinda Spillman
Aspen Lane Real Estate
Metro Brokers Marina Square
(303) 884-2026
www.BelindaSellsColorado.com

Belinda1126@hotmail.com

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Post is included in group: BananaTude
Post is included in group: Colorado Real Estate
Post is included in group: FOR SALE BY OWNER - MARKETING(FSBO)
Post is included in group: The Ninety-ninth Percentile
Post is included in group: We Are Women!

39 Comments on Don't Be Afraid of a FSBO

20 Most Recent Comments Displayed Show All

MAR
14
2011
174,630 Points 1 Featured Post Outside Blog

Perfectly handled, and made us look better as a profession at the same time! If you didn't approach her, its a virtual guarantee that you never get the listing. This way, you have the inside track. Well done, and thanks!
4:59pm • #20
556,573 Points 11 Featured Posts Outside Blog

Hi Belinda -- My first year I went to probably 2-3 FSBO open houses each Sunday and got one listing/sale from it.  So, for me, the ROI wasn't worth it. I've done some mailings with a wee bit of success, but not sure the ROI was there either.  I have sold FSBOs as a buyer's agent and sometimes that has worked out well.
5:02pm • #21
104,397 Points 11 Featured Posts Called Shot Master

Belinda, I have recently made a decision also to overcome my fear of FSBOs. I have called on several of them and they all were extremely polite and willing to talk. So far, I provided some of them with similar information you did, didn't get asked to list any of their homes yet, but I feel more comfortable dealing with them.
5:30pm • #22

Amazing....the sign is up....it's for sale.....haven't decided on a price.  And FSBOs don't need us.
Jeanne Gregory, RE/MAX Southwest
5:32pm • #23
1,330,854 Points 189 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Belinda, I used to do a CMA for FSBO's too but not anymore, not to be mean, but you are giving away your services for free in the hopes of them in the future working with you. I don't fear FSBO's either and I know you are being helpful but you are being FREE helpful. You are not a charity. You are a business.
5:54pm • #24

Belinda, Good for you! I talk to FSBO's all the time, and occasionally pick up a listing. I also offer a " Fair Trade Items" as Floyd Wickman called them. ( Free CMA, free brochures, etc).  And of course, I also like to ask them if they are paying a commission if I bring them a buyer. Most of them have been nice, and just wanted to see if they could sell it themselves.
Jeff Pearl
6:59pm • #25

THanks good stuff we are seeing much much less fsbo in MA. Not sure why but a few year ago it was the in thing now it is not
7:52pm • #26
179,711 Points

Another powerful tool I have used is to send a print off of how many homes sold in the area. If I don't have email I just pencil a note on the side 167 homes sold last month, 145 went pending, and there are 1500 active. Hows your buyer activity? Got any offers yet? Let me know if I can help.
7:59pm • #27
478,758 Points 15 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Belinda - You offered her something helpful and of value. Additionally, she met with you in person as opposed to being solicited by email or phone. She will likely remember you first when her house doesn't sell.
8:22pm • #28

FSBO's are one of the best source of business. They are waving at you," hey I'm a motivated seller!". You did a right thing to offer her those stats. I usually have 2-3 envelope in my car ready just for FSBO and it's included list of all the forms they need to sell their home, tips and of course my business card. I ask them to let me check out their home not because I want to help them sell, but to add them to my FSBO inventory in the area for my buyer client and if they accept, I will give them envelope as a gift!

Hopefully you'll turn that FSBO to FSBB(For Sale By Belinda)! lol
9:33pm • #29
464,255 Points 1 Featured Post

THanks for the good post.  We need to go after the FSBO's if we want.  You'd be surprised you might get it!

Nothing ventured, nothing gained!

 

Patricia/Seacoast NH & ME
9:42pm • #30
331,088 Points 16 Featured Posts Called Shot Master

Love FSBOs and you did well! No, they don't eat REALTORS for dinner - thankfully!
10:37pm • #31
763,734 Points 107 Featured Posts Outside Blog Called Shot Master

I actually think talking to FSBOs in person is easier than calling them. Who knows? Maybe that will be all it takes when she decides to list.
11:56pm • #32
MAR
15
2011
153,394 Points Outside Blog Attended Rain Camp Called Shot Master

Hi Belinda,

Glad you faced the fear, and thanks for encouraging others to take the plunge.  We'll have to stop by Beacon Point again, soon!
12:18am • #33
227,466 Points Outside Blog Attended Rain Camp Called Shot Master

Hi Belinda, Bet you are the only Realtor who visited her.  Hope you end up getting the listing.  Congratulations of another feature!
12:27am • #34
510,888 Points 1 Featured Post Outside Blog Attended Rain Camp Called Shot Master

All of our clients are FSBO sellers - we agree, generally good people. Offering the freee CMA is generous.  Many of our clients have expressed their willingness to pay a reasonable fee for the CMA.
Mel
12:45am • #35
175,749 Points 1 Featured Post Outside Blog

Yeah. I've found face to face is really not as scarry as what most people perceive it to be. Most people actually talk to you in a civil tone!
5:33am • #36

We're all rooting for you on this one, Belinda!  Thanks for encouraging us all to work those FSBOs.
7:41am • #37
813,636 Points 243 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

For Sale by Owners do not eat their young. They vary from people who are simply unaware of how to start, to the speculative, to those wondering if an agent will call. You get some hardcore types in my area who consider brokers an anathema, but they are rare. 

FSBOs just want a buyer. The key to listing with them is to have them understand that we are the source of buyers. 
11:21am • #38
640,197 Points 53 Featured Posts Outside Blog Called Shot Master

Thanks for all the great feedback.  Your comments and feedback are much appreciated and very helpful. I have read so many great tips in your feedback, it makes me want to embrace the FSBO market.
11:49am • #39

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