Approaching Potential FSBOs Early

By
Mortgage and Lending with 214-728-0449 http://TexasLoanGuy.com NMLS # 322646

Good Afternoon Rainers!  This is the 4th part of my series.  You can always start reading at this point and still pick up a few tips.  Here is the link to all thus far if you want to go back and read the first 3 parts - Obtaining More Listings


The real estate market has changed, as you are all aware.  In the late 1990s we went through a period in which just about anyone could hang out a sign and sell a home.  Or that is what the average consumer thought.  With the proliferation of technology there arose a host of new competitors to listings agents -- competitors who tried to convince the homeowners that they no longer needed traditional real estate agents.

In slow times, agents must spend most of their resources marketing and selling their listings.  In great times, agents must spend most of their resources obtaining the listings.  With technology coming to the forefront, the resources necessary to obtain listings have increased in all markets.  In the future, no longer will the agent be able to say that the MLS is the only way to market a home and only through the agent will the homeowner have access.

 

What does this mean for the typical real estate agent?

  • First, more time must be spent differentiating agents from the new competition.  There are many services an agent provides expertise.  Many times the Internet and technology robs homeowners of the rmost precious resource - time.
  • This educational process must take place BEFORE the decision to list is made.  If you get there after the FSBO comes on the market and the homeowner has been given a cold dose of reality, you will be thrown in with the competition.  If you educate them before they make the decision (even if they decided to go at it alone at first) - you have a leg up.  In other words, marketing of FSBOs must come early in the decision-making process.

I plan on blogging about the provision of value to FSBOs.  Just as any other worthy target, you must provide unique value to differentiate yourself from the competition.

Do you solicit to FSBOs now?  What is your technique?

If you are interested in reading more - SUBSCRIBE TO MY BLOG  I always solicit my blog.  Why?  I set a personal goal to have 30 subscribers by the end of August.  As of this moment, I am at 25 GREAT subscribers.  It means nothing to you and won't effect my points, but its one of the goals I set for myself as an ActiveRainer.  :-)  It shows I am blogging about 'worth reading' material.

Make it a successful weekend!

John Cannata - Reliant Mortgage

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Are you looking to purchase a Texas home?  Perhaps you love your Texas home but would be interested in refinancing your Texas mortgage to a lower interest rate?  

I'll help you get pre-approved for your Texas home loan and even suggest some very knowledgeable and professional Real Estate Agents in your area of choice.  If you are available to talk, I am available to listen.  Give me a call or visit my website for more details.

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NMLS # 322646

Texas Home Loan Expert

Frisco TX Mortgage

      

 

The views expressed on this site are mine alone and do not reflect the views of my employer.

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Rainmaker
170,378
Robert J. Russell
Robert J Russell Companies - Dallas, TX
IRES, ICREA, GMA, LAS, LUTCF, Sales Trainer

Great info - I always enjoy seeing what other Successful Realtors are doing all over the world.  Robert J Russell http://www.robertjrussell.com

Aug 22, 2008 09:37 AM #1
Rainmaker
305,616
Karen Otto
Home Star Staging - Plano, TX
Plano Home Staging, Dallas Home Staging, www.homes

Good points again John.

I don't mean to hijack your blog but it has sparked my attention once again and I would like to encourage Real Estate professionals of all kinds, from service professionals to agents to check out www.energizedseller.com (still in Beta) another networking site for RE Pros to CONNECT with sellers and answer questions they have regarding any aspect of selling their home. While the sellers may not be in your particular area, you will still be positioning yourself as the expert to contact and when a seller in your market are looking for RE pros, just like on AR,once ES goes live, the SEO will help get you noticed.

Aug 22, 2008 01:06 PM #2
Rainmaker
400,528
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Thanks for stopping by Robert.

Karen - No worries about hijacking the site.  I welcome your comments.

Aug 23, 2008 08:53 AM #3
Rainer
22,784
Roxanne Schilling
Coldwell Banker Lake Tulloch - Copperopolis, CA

So far it has been a beginning successful week-end.  I showed property today and I am also receiving an offer on one of my listings.  Yahoo!!!

Roxanne Schilling, Realtor at Lake Tulloch

Aug 23, 2008 09:26 AM #4
Rainmaker
400,528
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Roxanne - That sounds like a very productive weekend.  Good luck on the offer.  I hope you have a successful week!

Aug 24, 2008 01:19 AM #5
Rainmaker
565,568
Mike Saunders
Lanier Partners - Athens, GA

John - ok, I am number 26, I hope you get to your thirty. I think the MLS will remain the primary method for marketing a home, at least for the near future. The majority of homes are still sold through agents and the MLS is their primary tool for finding homes for buyers.

 

Aug 24, 2008 01:41 AM #6
Rainer
73,686
Pam Pugmire
Silvercreek Realty Group - Meridian, ID
Meridian Idaho Real Estate

I haven't been targeting FSBO's.  Maybe I will try this. 

Aug 24, 2008 06:19 PM #7
Rainmaker
177,160
Leander McClain
North East, MD
Cecil & Harford County Realtor

John,

Excellent information as always.  I have to respectfully disagree with Mike.  Technology and changes in the market will change the real estate market for ever.  Just read some of the information that the NAR puts out about the new generation of buyers.  No longer will buyers want to trudge into your office and answer questions before you spit out a list of potential homes.  Does anyone remember when the MLS was printed in books that were published bi weekly??  My latest client found ME via the net and had a list of homes that they wanted to see and eventually purchased one of those home.  OBTW did I mention that they were from out of state?

Anywhoo...

Keep up the good work John

Leander

Aug 25, 2008 12:06 AM #8
Rainmaker
400,528
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Mike - Thanks for subscribing!  I am only 4 away and have a week to write some good stuff.  :-)

Pam - FSBOs can be great, especially with todays market.  There are too many homes listed right now and not enough buyers.  Some FSBOs will get frustrated because their home will not sell quick enough.  Its a great time to talk with them and explain the advantages of using an agent.

Leander - I appreciate the comment.  Congrats on the sale.  As long as the client can find you, that is most important.  It is always great when a buyer comes prepared.

I hope you all have a successful week!

Aug 25, 2008 01:52 AM #9
Rainer
31,575
Linda Breeding
Keller Williams Realty - Pinehurst, NC

Good post - It is tough in this market for a FSBO and most will turn to the real estate professional to get the house sold. To get a FSBO persistence is the key without pushing, some can be tough and the agent that hangs in there will be the winner.

 

Aug 25, 2008 01:12 PM #10
Rainmaker
400,528
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

Thanks Linda!  You are right.  For some FSBOs the agent that wins the listing is the one hangs in there the longest and does not give up.  Not all will go with an agent but most will.

Aug 25, 2008 02:01 PM #11
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John Cannata

Texas Home Mortgage - Purchase or Refinance
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