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FSBO: Realtors Have Buyers Waiting

By Mimi Foster

Real Estate Agent with Falcon Property Company

July 31, 2011 04:30 PM

Many homeowners believe that selling their home is as easy as putting a sign in the front yard and waiting for the phone to ring. In a series of articles that I have prepared for someone who has chosen to become an Unrepresented Seller (also known as a FSBO), I present not only tips on how to get your home in its best condition for marketing, but also point out some ideas that Sellers often do not consider when trying to go it alone. Here is the next installment for Unrepresented Sellers:

REALTORS HAVE

BUYERS WAITING

We are working with Buyers who have seen

what is currently on the market and

are waiting for new homes to be listed.

Your home may be exactly what they are dreaming of.

waiting

Most activity will take place in the first three

to four weeks of a Listing. The excitement of a new house

on the market will create an urgency for both Buyers and Agents

to see it as quickly as possible.

FSBO: Realtors Have Buyers Waiting was written by Mimi Foster

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Sharon Parisi

United Real Estate Dallas - Dallas, TX

Dallas Homes

This is a great point! Plus, how many buyers need to see a house before it finds its new owner? One or one hundred? How many of those potential buyers will happen by the FSBO. Probably not enough in today's market.

Jul 31, 2011 04:36 PM

Tammie White, Broker

Franklin Homes Realty LLC - Franklin, TN

Franklin TN Homes for Sale

This happened just last week I had a buyer just waiting for a home to come on the market. It did and we're in the process of negotiating a deal. The house has only been on the market 2 days.

Jul 31, 2011 04:39 PM

Scott Hayes

(512) 786-8300 - Austin, TX

Realty Austin, Broker Associate

Nice Mimi. Sellers need to hear that salient point about the first three weeks of being on the market being the probably best time to get those excited viewings

Jul 31, 2011 04:42 PM

Rose King

David Tracy Real Estate - Friendswood, TX

Friendswood / Pearland / Houston Bay Area

Mimi, you should be a real estate coach! People would pay you for your expertise. You have developed such great resources - thank you for sharing them with us! This series on FSBOs has been really helpful.

Jul 31, 2011 05:14 PM

Lenn Harley

Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA

Real Estate Broker - Virginia & Maryland

Seems to me that, if an agent "has buyer in waiting", they could just as easily show the FSBO, write on it and sell it.

I agree that sellers have their best opportunity to sell if listed with an experienced agent and in the MLS, but, why do agent so often use the "we have buyers waiting" to try to, not sell that FSBO, but to get a listing???

I believe that the reason FSBOs don't generally sell is because the owner doesn't know how to sell real estate. There are usually interested buyers. The consumer simply doesn't know how to handle opportunity.

If agents "have buyers in waiting", as so many claim, why not just sell that FSBO????

Jul 31, 2011 10:29 PM

Alan Gross

PrimeLending, A PlainsCapital Company, Equal Housing Lender - Bethesda, MD

Loan Consultant

Great advice and a great way to connect with "unrepresented sellers." Curious, have your blogs generated calls for you?

Aug 01, 2011 01:16 AM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

I would agree with that, Sharon. And how often will the Seller be available to show it if they DO find it?

It only takes one, right, Tammie? Good luck with your deal.

It has always been a crucial time for a listing, Scott, and surprisingly that is often how long a FSBO takes to get it listed with an agent.

Thanks so much, Rose. I should probably work at monetizing some of this stuff ;) Have a great week.

If I had a buyer in waiting that fit that particular property, Lenn, of course I would try to make the deal happen, rather than try to get the listing. This point is more about the overall exposure to the real estate community that has buyers waiting that so often are never even aware of the house that the FSBO is trying to sell. And more often than not the FSBO does NOT know how to sell real estate, and doesn't understand that it is more than just finding a buyer.

Aug 01, 2011 01:18 AM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Good morning, Alan. The blogs have not generated calls, but the booklets that I hand out to Unrepresented Sellers definitely do. I am pretty specific in my booklet that they are welcome to call me - free of charge - to ask me questions that they have during their 'journey.' If I have established a rapport with them, more often than not they will call me at least once. If they do that, there is a strong chance of conversion when they decide to list. But I am never hard sell . . . I will ask for the business, but subtlely and with no pressure.

Aug 01, 2011 02:52 AM

Joy Daniels

Joy Daniels Real Estate Group, Ltd. - Harrisburg, PA

Thank you - very good point. . . one that most FSBO's don't consider.

Aug 01, 2011 02:55 PM

Kathy Sheehan

Bay Equity, LLC 770-634-4021 - Atlanta, GA

Senior Loan Officer

Mimi, I enjoyed the post. You always have a great message.

Aug 04, 2011 02:06 AM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

Good morning, Joy. So many FSBOs still think that putting an ad in the local paper will get the job done . . .

Thank you, Kathy. I appreciate that . . .

Aug 04, 2011 02:58 AM

Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

What a fantastic booklet you have put together. Are you adding chapters occassionally? It looks that way...

Aug 04, 2011 03:48 PM

Mimi Foster

Falcon Property Company - Colorado Springs, CO

Voted Colorado Springs Best Realtor

it is a 23 page booklet, Evelyn. I put the outline out there, and most days I am copying each of the pages on to AR. So it should be done soon. The ones that are live so are are here . . . . the others will be here soon . . .

The Outline

Aug 04, 2011 03:52 PM