Who Will Cry "Uncle" First? You or The FSBO?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

When listings are scarce, we will search for fresh inventory wherever and whenever we can.  I passed a For Sale by Owner Sign while driving and thought I’d ask one of the agents in the office if he had seen it.  His response was that it was not his favorite method of finding listings.

When listings are scarce, we learn to love all methods of finding listings.  We take whatever we can get, and we do whatever we need to do to secure the listing.  Without listings, we are out of business. 

For Sale by Owners (FSBO’s) are not as easy to close as an expired.  The expired listing has already experienced the process of listing with an agent.  That homeowner does not need to be closed on hiring an agent but only on hiring you.  The FSBO is confident that he/she can do this job without you.

When I was actively listing real estate, I would never call a FSBO to ask for the business.  I would always speak with a homeowner as if they were a co-worker.  I treated them as if they were another real estate agent who was marketing a home in my marketplace. 

I would introduce myself and say that I noticed their sign in their front lawn.  I’d ask how much they were asking for the home.  Then I would ask if they would be offended if I stopped by to preview their home.  I’d then explain that I make it a habit to preview all properties that are on the market in my marketplace. 

Rarely did the homeowner refuse my request.  The obvious answer to the question of “would you be offended” is NO…it’s not an offensive request.  The main goal is to get face-to-face with the homeowner. 

You should treat the homeowner as if they were another agent.  When you are in the home with the owner, you should speak with that homeowner as you would another real estate agent.  Casually discuss the topic of marketing as you would with another agent; the cost of print advertising; direct mail marketing; how to target market for buyers for that particular type of home; online marketing on a website; using Realbird to create a property website; blogging about the property; and holding open house events. 

Subliminal messages always work well.  The wheels will be in motion with that one visit, and it will be an awakening for that homeowner to understand what marketing a property involves.  You accomplished the task of “previewing” the home and meeting the homeowner.  You left your card, and you offered that homeowner the privilege of seeking direction from you, if needed.   

Now that you have seen the property, you can prepare a full listing presentation and a market analysis of the home.  You will be prepared for the next phone call that you make in a week to ask how the homeowner is progressing.  Ask if they need help with contact information for offline marketing.  During that conversation, you may find an opening to make another appointment to share what YOU DO for marketing, so the homeowner will know what to ask for when speaking with newspaper contacts!!! 

I always had a very good close ratio with FSBO’s by approaching them with this mindset.  No one likes a pushy agent, but they will usually cooperate when they are placed on the same level as you.  Working a FSBO is nothing more than establishing enough of a rapport to bide time until they are worn out.  Who will say “UNCLE” first!!!  

Barbara Todaro, sales manager of RE/MAX Executive Realty 

Team Leader of The Kuney-Todaro Team

308 W. Central St

Franklin, MA 02038

508-520-9881

www.todarosellsfranklinma.com

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