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FSBO: Outline of the Book

By Mimi Foster

Real Estate Agent with Falcon Property Company

July 17, 2011 05:06 AM

FSBO: The Outline

Over the past twenty years of working the real estate market, I have gathered information and held it in files for "someday" use. Much of what I am using is verbiage that we have all heard for years, but about a dozen years ago I did some re-wording and put it all together neatly in a package. Over the years I have adjusted and readjusted to keep current with the market.

FSBO When I started sharing my Unrepresented Seller handout on AR, it didn't occur to me that so many of you were not tapping into this market. Because of "the times," FSBOs are definitely a hot prospect ~ as long as you are not badgering them. The greatest drawback, as with the general market, is that so many are over-encumbered on mortgages, and many cannot afford the services of a Realtor. That will have to be determined by you on a case by case basis.

I have had an overwhelming personal response from people on AR asking me if they could purchase a copy of the booklet from me. Obviously, if I am sharing this information, you are welcome to use it for your PERSONAL use. You may not, however, reproduce it for sale.

Of course I am happy to share the booklet with you, but since it has my information all over it, it doesn't seem like it will do you much good, but still I will be pleased to mail it to you if you want it. I will do a video (or slide show) this week showing the actual handout. This is the easiest way I can think of to share with you what it looks like.

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Anne M. Costello

Weidel Realtors - Yardley, PA

Mimi: every post is better than the last. Can't wait to see the video!

Jul 17, 2011 07:57 PM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Thanks, Anne! That was very nice!

Jul 18, 2011 02:02 AM

Stacey Clark

Century 21 Judge Fite Company - Weatherford, TX

Mimi,

Since I found this post (with yor help) everything makes sense. I appreciate your ideas and sharing all your years of experience. I am new to real estate so I have to contact expired listings and unrepresented sellers to make my business grow and your information is priceless.

Jul 20, 2011 04:46 AM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Glad I can be of help, Stacey. Also contact (once or twice, not too often) your friends, relatives, spheres, and let them know what you're doing. I might do that with a letter or email. On expireds, make sure that you wait a few days so that you are not going in during the administrative time that someone may have just fallen off the radar and it is going to be relisted in a few days. Here they often take them off the market for 30 days because it takes that amount of time to make the Days on Market zero out. Stay in touch

Jul 20, 2011 04:53 AM

Monika Depalo

GAFF'S REFERRAL'S INC. - Port Orange, FL

REAL ESTATE Agent/Stager

Great use of your 20 years of knowledge and experiences.

Jul 23, 2011 01:40 AM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

thanks, Monika ;)

Jul 23, 2011 02:21 AM

Lynn B. Friedman CRS Atlanta, GA 404-617-6375

Atlanta Homes ODAT Realty - Love our Great City - Love our Clients! Buckhead - Midtown - Westside - Atlanta, GA

Concierge Service for Our Atlanta Sellers & Buyers

Dear Mimi -
You set such a good example by being so generous with your research! Thanks for all the lessons!
Have a happy day -
Lynn

Jul 24, 2011 05:11 PM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Well, thank you, Lynn. It is certainly my pleasure.

Jul 24, 2011 05:13 PM

Anne M. Costello

Weidel Realtors - Yardley, PA

Mimi: Glad you have reposted this outline for the wider audience. Hard to believe every ARer is not considering Mimi Foster appontment reading. LOL. Your generosity in sharing this information is incredible. Active Rain truly is an amazing community!

Jul 24, 2011 09:51 PM

Irina Netchaev

Pasadena Views Real Estate Team, Inc. - Pasadena, CA

Pasadena CA Real Estate

Mimi, what a great list of resources. You have obviously spent quite a bit of time pulling this process together. Thank you for sharing!

Jul 25, 2011 04:51 AM

Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

No Mimi, I had not clicked the link. I will spend some time looking over your "booklet" Thank you for your generousity to all of us!

Aug 02, 2011 03:32 PM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Anne ~ forgive me for not seeing your comment earlier. Don't know how I missed it, but I am greatly touched by your words. Thank you!

Thank you, Irina ~ just bits and pieces over the years and all of a sudden it fell into place over a decade ago.

Thank you, Evelyn. Please don't hesitate to ask if you have any questions.

Aug 02, 2011 03:49 PM

Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

I just finished reading them all and WOW, that is alot of information! Thank you!

Aug 03, 2011 12:51 PM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Okay, Evelyn, I just added two more that you might want to check out! I'm SO proud of you!!! Thanks!!!!

Aug 03, 2011 02:56 PM

Karen Crowson

Coldwell Banker Residential Brokerage - Rancho Bernardo, CA

Your Agent for Change

This is great stuff Mimi. I just did a re-cap blog on buyers a couple of weeks back, and am working on one for sellers. Hadn't gone down this path at all yet.

Aug 05, 2011 04:43 PM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Have you seen my two posts on what we do for buyers and sellers, Karen? Maybe they will help you - whatever it is you are working on . . . . it sure is a warm market . . .

Aug 05, 2011 05:07 PM

Sherri Berry

Reliant Realty, Murfreesboro - Murfreesboro, TN

Murfreesboro TN Homes & Real Estate

Mimi thank you so much for sharing your amazing FSBO outline. I have never been consistent with this market and the few times I tried found the sellers to be unrealistic. Your outline makes me rethink all the lost opportunities for me. Thank you!!

Aug 08, 2011 01:57 AM

Sharon Harris

Keller Williams Keystone Realty - Hanover, PA

Realtor

I see lots more FSBOS now then I did 2 years ago. I think with home prices dropping in our market many selllers feel like they will make up the difference by selling there home FSBO. Not truely understanding the sale process. Just knowing they wish to save some money.

Aug 09, 2011 02:00 AM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Good morning, Sherri ~ I am VERY selective in the FSBOs that I would work with. When I approach them and they tell me they want $300,000 for a home worth $225,000, I smile politely and don't even bother to share the booklet. But if they are reasonable and just uninformed, I will be very solicitous and do what I can to help them

Sharon ~ I TOTALLY understand the mentality. One of the figures that I am trying to verify is that more than 50% of FSBOs end up in some kind of litigation. That is a shocking and frightening statistic!

Aug 09, 2011 05:42 AM

Cheryl Ritchie

RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD

Southern Maryland 301-980-7566

This is going to be interesting to read. I am looking forward to some great ideas. Thanks and rethanks!

Sep 20, 2011 10:13 PM