Now that "unrepresented" sellers are jumping on the sell-it-yourself bandwagon, just what are you doing to get their business? Just as "location - location - location" is the by word of Realtors, then "educate - educate - educate" should be applied to getting the business of FSBO's.
So, what are the tools you use to influence unrepresented sellers to enlist you as their REALTOR? The key is in how you present yourself and all that you can DO FOR THEM as their REALTOR to market and sell their home, either quickly or for top dollar...hopefully both!
Educating the unrepresented seller includes laying out all the RISKS they will bear - solely by themselves - continuing down the maze and often confusing path of selling property without a PROFESSIONAL REALTOR. Most sellers haven't a clue about required DISCLOSURES and how they apply to them, especially if they sell their own property themself. Typically they do not know about PROPERTY MARKERS or EASEMENTS or PROFESSIONAL INSPECTIONS, let alone CONTRACTS/SALE AGREEMENTS. And, most are out in left field when it comes to EFFECTIVELY MARKETING their property. How many times have you seen a FOR SALE BY OWNER yard sign with no FLYER BOX or if they have one their flyer box is EMPTY, or you can't read their hand-lettered phone number?
Are unrepresented sellers savvy to all the various marketing strategies to getting their property advertised at many venues (e.g., yard signs, flyers, newspaper Ads, Open House, cable TV ads, web site exposure, NAR's Realtor.org, local Realtor Associate public web site, et al)?
Are unrepresented sellers aware of how much time it takes to PREPARE their home to effectively stage it to show to prospective buyers? And, aree they aware that most agents do not show FSBO properties because they know the seller will refuse to pay their commission if they bring the buyer ... and God forbid getting a commission out of the Buyer! Don't forget that buyers think agents work for FREE! (That irrational concept is OUR fault for not telling them in advance at first point of contact.)
When you approach a "hard sell" unrepresented seller on your services, have you taken the time to prepare an exhaustive list of all the various services you will perform for them and apply a hourly rate to each service? It typically costs a Realtor about $3,500 in their time in performing the standard functional services throughout a complete handling of a transaction (this amount is dependent on how much you value your time).
Even after you've made your full sales pitch to get the unrepresented seller's listing, they still refuse, then by all means offer them your professional "guidance" on a CONSULTING FEE basis by the hour. You'll likely find that after 3 to 8 weeks they've become so frustrated they'll either call you to list their property for them at full representation or they'll withdraw their property from the market altogether. Either way you WIN!
What say you?
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