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Let's play the "Let's say" game with a FSBO next to your listing

Let's say that you have a listing and you've been having open houses.

Let's say that you had an open house on January 4 and had a very good showing, notwithstanding the fact that the Chargers were on television.

Let's say that you had an open house on January 11 and noticed that the home next door now had a FSBO sign in front of it.

Let's say that you have worked in the neighborhood for almost four years and have come to know the owner fairly well.

Let's say that he's never asked you anything specific about selling a house before but has always stopped by your open houses in the neighborhood to chat about real estate, the economy, the Chargers, the Padres, etc.

Let's say that he seemed to be a very nice gentleman interested in keeping track of what was going on in his neighborhood.

Let's say that he's owned his home since 1977.

Let's say that on January 11 he stopped by again -- totally expected -- but this time he had all sorts of questions to ask:

Let's say that he wanted to know if he had priced his home properly.
Let's say that he wanted to know if you could provide him with some comps for his property.
Let's say that he wanted to know if you would hold his house open for him since you obviously liked to hold open houses.
Let's say that he wanted to know if you would take his listing if he couldn't sell it, and reduce your commission for him since he's known you for a long time.
Let's say that he wanted you to come over for a couple of hours and look over his house to tell him if there was anything else he could do to prepare his home for sale.
Let's say that he wanted to know if you had any extra "old combo lockboxes that you could lend him, you know, the ones that Realtors don't use anymore."

Let's say that you're a nice guy but you have to make a living, and your livelihood is as a Realtor.

What would you do?

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Posted by Jim Frimmer, Realtor and CDPE, Mission Valley, CA DRE #01458572 on 01/12/2009 09:03 PM

Comments (24)

FSBO's: Helping Them in This Market in the ActiveRain Channel

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24 Comments on Let's play the "Let's say" game with a FSBO next to your listing

JAN

2009

Sounds like he wants you to work for him for free. Is he good at anything like mowing lawns? Maybe you can trade!

Let's say you give him the listing papers you will need to list his house, since that is what it is that you do for a living and let's say he agrees and lets you do your job. If he wants your help, he should hire you.

I agree with Rich above, give him the listing papers and explain on you get paid. You get paid for your knowledge. You don't give it away or let others use you for free.! Let us know if he lists with you!

(I have friends in La Mesa and lived in Lemon Grove for years.)

Don't you just love friends and neighbors. There is another home inspector that lives 2 doors down from me, so when anyone in the neighborhood wants a freebie I steer them to him. I'm just too busy to give them the care they need. Needless to say I don't have any close friends in the area and to top it off the other inpector is starting to send them back to me.

Let's say the neighbor was a dentist.

Let's say you went to him for a root canal.

Let's say he did the job but then you changed your mind & decided to go to a different dentist.

Let's say that you decided to not pay him.

Let's say that I had him sign a form saying he would give me a 3% coop if I were to bring the buyer.

Let's say I would give him a branded real estate show for all his marketing.

Let's say I told him where to post it.

Let's say I worked for about an hour while he gave me a bunch of free advertising.

It works both ways :wink wink:

Let's say you say you are glad you're his friend and hope he realizes, as your friend, that you get paid for your job and well, because of your knowledge and expertise.

Let's say you slide him a listing agreement outlining the exchange of knowledge, marketing, lockboxes, etc, for cold hard cash.

Let's say he actually sells his house because he lists it, making a win-win for everyone.

or.... Let's say you smack him upside the head with a flyer and let him know you weren't born last night!

JAN

2009

I'd have to say "Whoa there, partner!" I might give him one or two of those things, but not all, and certainly not a lockbox - that would be in violation of MLS rules, even if it is an old one. As for the others, I might give him some comps but warn him that they change almost daily so it won't do him too much good unless he plans to join the MLS somehow so he can check on them every day.

I'd ask him what he does for a living. If he's a waiter, ask him if he would come over and serve dinner for about 20 of your closest friends as a favor to you, since he's known you for so long, and since he clearly enjoys waiting on people. And since he's so good at picking just the right wine at the restaurant where he works, would he please bring a few bottles of a nice vintage that would go well with the dinner? Maybe then he'd get the idea that just because you're smiling at an open house doesn't mean that you do them because they are so much fun!

Hahaha! Ok, I know this was serious, but you have to admit it was awfully comical!

Everything else aside, has anyone considered the fact that you are listing and marketing the home next door and have a responsibility to that seller?? You would be doing a disservice to your seller to help the next door neighbor (for free!) in selling his home and not directing your attention and duties to your seller.

You simply tell him that you have valued the years of relationship and are ready to take it to the professional level for him as his Realtor. That as he has noted and obviously appreciated, that you work hard and with diligence for you clients. That you will continue that detail of attention on his listing. That by providing him with a lockbox would be opening yourself for a liability. The Realtors quit using the boxes for a safety reason and by lending it out to a person that you were not under contract would expose you to not being covered should something happened. He can purchase one at a hardware store if that is the kind of access he wishes to put on his home. Does he plan on just letting Realtors, people who say they are Realtors, just show his home while he is not there? Hmmm ... there are some pretty smart thieves out there that can call for appointments. That you hold open houses because you have expertise and can screen buyers and convert to true possible owners on the home rather than just have an open door an lose opportunities. That you save your clients lots of money well beyond the commission by understanding contracts, exploring the pitfalls of the contracts and properly investigating offers to see if the buyers are qualified. Good luck with the FSBO trying to save dollars by being a sponge to your kind assistance.

Hey, Shane.

Trading services could be good, although if he's willing to try to be a Realtor with no training, I'm not sure what else he might try with no training.

Hey, Rich.

You're pretty close to what I did.

Hey, Linda.

You left wonderful La Mesa and Lemon Grove for North Carolina? Shame on you -- LOL.

Hey, Jack.

So your neighborhood is simply scratching your back since you scratched his. Tit for tat!

Hey, Marian.

I go to the dentist who would tell me that I didn't need a root canal, even if I did -- LOL.

Hey, Renee.

You have part of my answer in your post.

Hey, Sheree.

I thought you were doing well in your commentn until you resorted to violence and smacking him up side the head -- LOL.

Hey, Susan.

I actually love doing open houses. If I don't have one on my own listing for whatever reason, I'll try to hold one open for someone in my office. They love me. Of course, their listings never sell, but I sure do get a lot of buying Clients from holding houses open.

Hey, Kris.

You got 90% of my answer in your post. Great thinking.

Hey, Connie.

Great information, some of which was in my answer to him, especially the liability part.

Let's say this guy wants Jim to work for free for him. Let's say Jim needs to earn a living so that he can pay his bills. Let's say that working for free when Jim's valuable time can be spent working for another client who actually values Jim's time and expertise, would not be very productive. Let's say Jim will continue to be friendly and helpful to an extent, but will not give away the store without being properly compensated. JMO!

JAN

2009

Hey, Jim.

Let's say that Jim discovered very early in his real estate career not to give away the store. Now if one wants to buy the store, make the check out to Jim Frimmer. LOL

There are ways to do this without giving away the farm. Like Renee said, offer him a deal. A split on the commission in exchange for marketing material, a lockbox, online advertising, and a virtual tour or real estate show. It could definitely work but not for free.

~Renae

Let's say he stops trying to take advantage of your friendship.

Let's say he gets real about all the things he wants from you and admits that he wants to sell FSBO but wants the added benefits of the knowledge and skills of a licensed real estate agent.

Let's say you help him and the client you already have listed next door to his finds out you're doing it for free, contacts your broker, wants out of their listing, and then wants you to help them for free as well. Wouldn't that be fun?

Kathy

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Jim Frimmer, Realtor and CDPE, Mission Valley, CA DRE #01458572

San Diego, CA

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Address: 7676 Hazard Center Drive,, Suite 100, San Diego, CA, 92108-4504

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