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FSBO or Realtor Wanted

By
Real Estate Agent with Keller Williams Arizona Realty
I keep hearing statistics about the percentage of FSBOs that eventually list their home with a Realtor in order to get it sold.  Depending on the source of the information, it ranges from 60 to 80 percent!  That means on average that of every 10 FSBO signs you see, 6 or more of them are really Realtor Wanted signs.  Some agent(s) are going to list those properties.  A tour of the home and interaction with the Owner could get you on the list of candidates to interview.  When previewing properties, don't overlook FSBOs!
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Suzanne Marriott
Associate Broker, REALTOR
Keller Williams Arizona Realty
Blanca Cholewczynski
U - Oak Brook, IL
XCO

Hi Suzanne,

I am a mortgage consultant that offers a Free FSBO website to this community.  It really helps me to build rapport with the seller's and be in front of potencial homebuyers.   Some of the realtor's that I work with, are promoting my website because they see the value.  While the FSBO's are getting tons of solicitations from real estate agents, the agents that are promoting my Free website are offering something different than everyone else.  Many homeowners can't belive a real estate agent will be offering a Free service. They always ask what is the catch?  Well, there is no catch; we do get something in return, what we get is while only one person is going to buy their home, they will probably show it to 20 people or more.  So who is helping them? Me as a Loan Officer I get the opportunity to pre-qualify people and the real estate agent gets new buyers.  And yes, when a FSBO sees all the work that is involved in selling their home or they really need to sell it.  By the time they are ready to list their home.  They have already made up their mind as to whom is going to get their business.  The real estate agent that showed really interest in them selling their home by offering free help in the begining.    

Oct 27, 2006 05:13 AM
Jim Lee, REALTOR, CRS
RE/MAX Shoreline - Portsmouth, NH
Buying or Selling? Ann & Jim are the local experts

Suzanne,

NAR says the number of FSBOs who successfully sold on their own was 13% in 2005, the latest available numbers.

FSBO facts

"Last year, 13 percent of all sellers chose the FSBO (“For Sale By Owner”) route, according to NAR’s 2005 Profile of Home Buyers and Sellers. This is down from about 18 percent eight years ago. But more telling than the decline in FSBOs is the fact that more than a third of all FSBOs sold their homes to someone they knew prior to the transaction. This means that only 8 percent of all home sales are arm's-length FSBO transactions."

Oct 27, 2006 05:43 AM
Cynthia Sloop
Community Association Manager - Indianapolis, IN
So true, so true!  The FSBOs in the Indy area seem to get called on a lot by Realtors these days.  Sometimes when I approach them they are less than hospitable.  Probably because they have become leary of the Realtors intentions.  I've thought about offering an area on my website for FSBO homes, just don't know how I want to structure that.  I also wonder how my contracted sellers would feel about this procedure.  But yes, I think many FSBOs think that selling home does not require much or that we get way to much money for what we do and start out with the idea that they'll just do it themselves.
Oct 27, 2006 05:45 AM