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When someone decides to sell their home without using a Realtor, they are commonly called a FSBO, but I like to call them what they truly are, an Unrepresented Seller. NAR statistics say that 97% of Unrepresented Sellers will end up listing their home with a Realtor. To my way of thinking, if part of our job is to list houses, that makes a FSBO a pretty hot market for getting listings.
You know they want to sell. YOU will make the determination whether or not a particular Seller is someone with whom YOU want to work. Many want too much money, many will know everything. But for those with whom you might chose to work, this is an easy system to use to try to capture their business. You know they will have a difficult time selling on their own. And if you establish a kind rapport with them, you may be the one that they call when it comes time to list.
I have a genuine desire to help some of these Unrepresented Sellers who, for whatever misguided reason, think that 'going it alone' is their best option. Sometimes I want to help them to understand that in trying to save a commission it is not just about finding a Buyer, but it is so much more than that.
Over the course of many years, I collected brochures and handouts that Title Companies and real estate offices and others would print concerning FSBOs. I have also done this with a Staging Packet and Expired listings, but I digress. So I collected lots and lots and lots of information, and then I whittled it down to what I considered to be the best of it. I made it into a booklet that is easy to read and easy to distribute. I personally print it out on a heavy bond paper, and spiral bind it with a clear cover on the front and back.
Many of you have been following my series for marketing to Unrepresented Sellers. Each of the pages in the booklet that I present is enumerated in the Outline, and today I will give you the process that I use for presenting it to Sellers, a visual of the finished product, and will be happy to discuss with all of you who have contacted me how to make it exclusive to you and your business.
Previously my FSBO booklet was done in PhotoShop, but I have reworked it into a Word Document. There was too much verbiage on some of the pages, so I have just reworked it to make it easier to read. You are welcome to reproduce this and use it in your marketing, but you may NOT claim it as your own, nor may you sell it for profit.
THE PROCESS I print out many of these FSBO packets and keep a stack of them in a nice little basket in the back of my car. Sometimes I will designate days that I will go and look at FSBOs, sometimes I will be out and about and see one that looks interesting or is in my niche and I will stop at that particular home and try to make contact with the homeowner. We all have different personalities and different ways of approaching potential clients. I am not now, nor have I ever been, a hard-sell Realtor. I am all about the relationship, so stopping initially to get information about a house is not a time for trying to get the listing.
My approach is to tell them who I am, tell them I am not there to try to get their listing but wonder if they are working with a Buyer Agent after their house sells. After they have given me their life story, and I have ascertained whether or not they are staying here in town or might possibly need a referral in the new City to which they are moving, I will ask them about the current house that they are selling. How much is it? How long has it been on the market? What is their time frame? And can I make an appointment to come back and see it sometime? Never once has an Owner not invited me in on the spot.
Still holding on to my booklet, I am assessing not only their home but also them as a Client. As they show me thru their house, I will often offer suggestions about something that they might do a little differently, moving furniture, packing up, taking down some pictures, just simple things. When it's time to leave, if they are someone with whom I would like to work, or it is a home that we might be able to price reasonably and sell, then I share with them the booklet, and just leave it with them and explain that there may be some things in there that will help them in the process.
If you approach it gently, most Sellers are thrilled to let you into their home, and they love to tell you about it. With little prompting, they will tell you everything you needed to know and so much more (not too good if I am a prospective Buyer). It is very important that you do not be condescending towards them for trying to sell it themselves. These are hard times, and although totally misguided, we can all relate to the desire to save money. If I have given them a booklet, I make them very aware that they are welcome to call me with any questions that they might have in trying to sell their home. I explain that I will answer their questions for free (no one has ever abused that), I will never be a hard sell, and that I am happy to talk with them if they should run into any troubles.
If they are someone with whom I might like to work, after I leave, I note their address, and the next day I will write them a note and tell them how nice it was to meet them, include my card, and again reiterate that I will be available if they have any questions that they need to ask.
So figure out how this might work best for you, and then don't hesitate to ask me if you have any questions or if I might be able to help you. Following is a slide show of the pages of the booklet. The actual words used can be found on the Outline (linked on this page - although I have changed them up a little bit, as you can see from the slideshow). I wish you prosperous times!
The pages are printed front and back on heavy duty paper (at least 60#) and easily bound at home or office if you have the equipment.
Mimi Foster has been voted one of Colorado Springs' Best Realtors for five years in a row. She sells homes throughout Colorado Springs and surrounding areas, with a passion for Victorian homes in Downtown Colorado Springs. Mother of five daughters, four grandchildren, and cherished wife, Mimi has over two decades of professional experience helping clients buy and sell their personal residence, investment properties, and rehabbing fix and flips in the Colorado Springs area.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.