How to Approach a FSBO (For Sale by Owner)

Reblogger Tony and Suzanne Marriott, Associate Brokers
Real Estate Agent with Haven Express @ Keller Williams Arizona Realty BR534744000 & BR540649000

Agreed! John Meussner "Working the FSBO market is a great way to pick up listings.  In fact, simply having the guts to call a FSBO or stop by will set you above a lot of others.  Doing it right, however, will lead you to success far more often than putting on a hyena suit and joining the pack."  Always differentiate.  Re-Blog!

Original content by John Meussner NMLS #138061 MMCD #1141

How to Approach a FSBO (For Sale by Owner)

 

 

     "Work expired listings & FSBO's!".  This is the advice nearly every new real estate agent receives as a way to strum up business quickly and get started on building an empire of listings.  At least that's how it seems.  The problem becomes when every agent starts doing this, the FSBO's and Expireds get caught in a real estate agent free for all, and no matter how good their intentions may be, agents can easily come off as hyenas.  For Sale by owner marketing

 

 

     So what's an agent to do?  The fruit is RIGHT THERE!  They're OBVIOUSLY wanting to sell their home, so are the only options to either leave them alone & miss out on the opportunity, or put on your hyena suit and hammer the phone line?  Although those may be the 2 most common approaches, the good news is there's a 3rd option - what I like to call a 'soft' approach, or more broadly, "doing it right".

 

 

     To increase success when approaching a FSBO, you need a couple of things - first, you need to be on your "A game" and approach with well-deserved (because you've educated yourself...more on that later) confidence.  Second, and most important, you'd better dial that number or knock on that door with some value in your hands.

 

 

     While percentages certainly vary from market to market, the overall numbers make it obvious that using a Realtor is better than selling a home FSBO in most cases.  Sales prices are higher, there's less risk to a seller, the process is easier, and a home sells faster.  What's not to love?  For many homeowners, it's simply a lack of information, or worse, misinformation they've received that makes them keep real estate agents at arms length.  For this reason, the "you're wrong and here's why" approach just doesn't get good feedback.

 

 

But value?

 

 

     Showing up and offering information about the local market is value.  Comps are value.  Insight into buyer trends and staging ideas is value.  Do you want the listing?  Yes!  Are you going to ask for it?  No.  In fact, in most cases you don't have to.  Something like 90% of FSBOs that do eventually sell, sell with an agent listing the property.  Why not show yourself as the local professional with a ton of knowledge, and if & (most likely) when the time comes, you'll be the local pro they need to get the listing up and the home, finally, sold. 

 

 

     Next time you approach a FSBO, think first about what value you're offering them.  Do you have local market data perhaps they haven't seen? Do you have the time to stop by, introduce yourself, and offer to check out their home to see if there are popular staging methods they can use?  Some people call this "working for free", but I call it building rapport.  Let's face it, until a transaction closes, we're all working for free.  If you're a partner of mine in business, you may know about my prime services suite, which would even allow you to create (ok, have created for you, at no cost) marketing materials for a prospective FSBO client.  There are a ton of things you can do, but doing something of value for a FSBO will at the very least turn you from just another agent to someone a home owner knows - that's WAY more impact than an annual refrigerator magnet will ever get you.

 

 

     Working the FSBO market is a great way to pick up listings.  In fact, simply having the guts to call a FSBO or stop by will set you above a lot of others.  Doing it right, however, will lead you to success far more often than putting on a hyena suit and joining the pack.

 

 

Oh, and those expired listings and the approach to take there?  That's a different blog for a different day.

John Meussner

NMLS# 138061

Visit My Website!

 

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Rainmaker
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Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Hi Tony, This is how I started 40 years ago. I don't do it anymore, BUT it works.

BTW you must "follow" the same [people that I do.

Bill Roberts

Apr 01, 2016 12:40 AM #1
Ambassador
725,857
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Costa Mesa, CA
#MortgageMadeEasy Costa Mesa, CA 484-680-4852

Thanks so much Tony & Suzanne, appreciate your reblogging & spreading the word!

Apr 01, 2016 06:26 AM #2
Rainmaker
3,684,848
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Nice re-blog, Tony and Suzanne.  Though, some FSBO sellers can be tough nuts to crack.

Apr 01, 2016 09:11 PM #3
Rainmaker
2,346,417
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

It appears so Bill Roberts ! Thanks for stopping by!

Apr 02, 2016 12:56 AM #4
Rainmaker
2,346,417
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

John Meussner Thanks for authoring it!

Apr 02, 2016 12:57 AM #5
Rainmaker
2,346,417
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Some are nuttier than others Gabe Sanders !

Apr 02, 2016 12:57 AM #6
Rainmaker
2,346,417
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Enjoyed this post and want to read more - visit our website  - HavenExpress.com - where all your questions about buying and selling residential real estate in Arizona are addressed!

May 08, 2016 12:18 AM #7
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Serving Scottsdale, Phoenix and Maricopa County AZ
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