The FSBO Assistant
Giving to Receive
One nice thing about For Sale By Owner (FSBO) homes is that the owners advertise to the general populace, which makes them easy to find! You have their address in any ad they put out, which means you can do some extremely targeted marketing.
Another important thing to know about these "do-it-yourself" types is that most of them fail in trying to sell their own homes, and end up needing the services of a Real Estate Agent. You just need to make sure you're the first agent on their mind!
To that end, I recommend giving the FSBOs in your area a small kit you can label the "FSBO Assistant." There is actually a two-fold reason to give out these kits. The first one is obvious: You have to give in order to receive. By presenting value up front, you are earning the trust of the homeowner, and making it much more likely that they will choose you should they decide to use an Agent.
The second reason is a bit more subtle: By introducing them to the piles of paperwork and material that FSBOs need to understand, you show them what you get paid for, and why it's worth it to use you rather than try to do it themselves!
Here is an abbreviated list of some of the documents I would include:
- A Generic Purchase Agreement
- Escrow, Settlement, or Closing Instructions
- Title Insurance Policy
- Settlement or Closing Statement
- General Warranty Deed
- Special Warranty Deed
- Bargain and Sale Deed
- Lead-based paint Seller Disclosure
- A list of other documents they'll need
- Your Personal Brochure
Most importantly, include an offer to help them should they feel overwhelmed! This will give you more opportunities to sell them on your service later on. Be sincere in your desire to help them, and they'll be more receptive to you becoming their agent.
Let me know how this helps you as you pursue FSBO clients!
Call me when you have a client who needs special assistance in obtaining their next home loan.