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FSBOs - Pick the Low Hanging Fruit First!

lowapples

Pick the "Low Hanging Fruit" first!

Do you stop for FSBOs or do you avoid them because of a bad experience or because you are afraid of rejection? If you don't stop yet, keep reading...

A big reason FSBOs don't like realtors, in many cases, is because only the 'rookies' are calling them and many times, these agents might not know how to impress them and might be turning them off. These inexperienced realtors are causing these FSBOs to think that they can do a better job than they can.

So... if it's been a while for you, brush up on your listing prospecting presentation skills and stop the car the next time you see a FSBO. That FSBO could really use a good listing agent in this market and it might as well be you! Here are few reasons to prospect with FSBOs:

FSBOs are networking with buyers, other FSBOs, family, friends, co-workers, etc. Impress them with a nice friendly visit with some examples of your work with some reference letters and offer to help them and leave the door open for future follow-ups. By impressing the FSBOs, you might get another prospect besides the FSBO you called on...
They might have been with a realtor and things did not work out. Let them vent and then tell them how you do it! Impress them with your knowledge and your personality. These are the best sellers because now they have a better idea about the market and selling process so their expectations will be in a better alignment for you.
They might be frustrated with the inconveniences of showing their home to strangers with the worry that presents too. You can take that burden off of them!
They may have to move out and cannot continue to show effectively so you might be the one that they list with just by stopping by! You will never know unless you stop the car, get out and introduce yourself to them.
They may be in an area that gets no traffic. Show how you can promote them to the world with the MLS!
They could use some free advice! Who couldn't? Help them now with suggestions on staging, decluttering, advertising, promotions, open houses, neighborhood open houses, networking ideas, pre-approvals, etc. Win them over and see if they eventually call you to list them.
They could use somebody screening their prospects. They are frustrated with buyers that cannot get pre-approved or that have contingencies or want their house at a bargain price. Tell them that you can open them up to better number of quality relocation buyers or first-time buyers that usually seek realtors to help them first.

The main point here is that a FSBO is an open invitation to prospect and if you don't do this, you are missing some "low hanging fruit". Think of this as a challenge and yes, they may not welcome you at first, but, if you show your enthusiasm and warm personality, they might refer you to others and call you when the time is right.

If they want you to screen their buyers, give them my number and I will be happy to do that for you! This is one of the best things you can promote that they will love.

One last thing. Don't forget that most FSBOs are going to need a new home when their house sells and you can help them with that too!!! And if they are moving out of town, ask them if you can help them find a great realtor in that town like you for a referral fee too.

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Posted by Sam Thompson on 12/07/2008 09:29 PM

Comments (5)

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Post is included in group: FOR SALE BY OWNER - MARKETING(FSBO)
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5 Comments on FSBOs - Pick the Low Hanging Fruit First!

DEC

Sam,

You are right. Even if the FSBO does not list with us we do not know what that networking will bring in the future.

Very good words Sam. This has always been an untapped market, and there are definitely more benefits than simply getting a listing.

DEC

I will stop my car! The thing I find is many have paid up to $500. or more to have their home listed in the mls and realtor.com. That's it along with a sign. They are trying to save on the commission. The internet has so much for the FSBO for forms, etc. I think the fact that we are more available to show the property, have it marketed in other forms, etc. makes it better for them. Yes to letting them know just how much more marketing they receive with an agent. Many had bad experiences, or " they don't care if it sells or not", or they" know" how to sell a house. Those who know how to sell, might have sold a home when the market was great for that side of the sale. But today is a different world. I always mention AR and how I have contact with many realtors in the country and outside. That impresses them. And it takes more than one stop sometimes.

Lately it has been difficult to get them to see it from my view. I wonder if it is the economy and people are trying to hold onto their money, which would include the commission. Also the fact that they might end up in a short sale situation if a commission is involved, and I am not lowering my commission!

Sue from Maine

DEC

Personally, I think the FSBOs are underwater and are trying to sell to get out from under without having to pay a commission. In some cases, a good realtor and sell it quicker and for the same net profit. For many, they may have to get a loan to pay any shortfall vs. keeping their lives on hold living in the house and not being able to buy another home in this great buyers market.

DEC

OK I am a veteran Home Stager and rookie RE agent, but will be going after the FSBO as I do now with my staging business. Before when I was done helping them prepare their property for the market, I handed them over to someone else or let them continue on their own. Now I can be even more "helpful". If not them , they have neighbors, friends and relatives.

Have done many FSBO myself, some can do this, most can not.

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