Whether the strength of the market or the desire to save money on commission is the impetus behind their motives, some homeowners believe that they can effectively sell their property without the help of a real estate professional.You can increase your business by going after these FSBOs and convincing them of the value of your service. Finding an FSBO is simple if you know where to look. Locate these home sellers by using the following proven methods:
•Check the papers: Both community and larger regional newspapers are very popular with FSBOs
•Go for a drive: Periodically scout out neighborhoods in your area for the traditional "For Sale by Owner" yard signs
•Scan the Web: A number of "For Sale by Owner" websites have cropped up online; review these resources for listings in your area (examples include owners.com and forsalebyowner.com).
•Keep an eye on the community: Bulletin boards in grocery stores, gyms, and other public places may display flyers and other materials created by FSBOs
Making Initial Contact
•Reaching out to FSBOs is a smart business move. Not only can you provide them with information that can position you as a real estate expert, they may also be excellent candidates for relocation and referrals.
•Providing FSBOs with added value such as information, tools, and other resources helps demonstrate the benefits of choosing you as a real estate professional…and may result in the tables turning, with them relying on you as their real estate resource.
Lending Added Value
•When prospecting an FSBO, it is important that you immediately demonstrate the benefits you can offer as a real estate professional. But do not treat these prospects as simply another sales call. Instead, make sure to provide them with something that definitively shows your value.
To initiate a contact or a relationship with an FSBOs, perhaps start by providing these motivational resources:
•Real estate tips, including ideas on preparing the home for sale, writing a newspaper ad, or holding a successful Open House
•Information of interest to home sellers, including articles on the real estate market or a newsletter that you mail to prospects on a regular basis.
•A referral for a real estate professional in the city or town where they are moving to
•Local real estate statistics, such as specific information on recent listings and sales in the neighborhood or town
Once you have reached out to these prospects and have established an “in,” it may then be appropriate to show them in more detail the advantages of retaining a real estate professional.
Why Use a Real Estate Expert?
Many times, homeowners who decide to sell their homes without the assistance of a real estate professional do not fully understand all the challenges they may face. As a real estate professional, you are uniquely positioned to eliminate some of the most difficult challenges that an FSBO may face, including:
•Setting the right price for a home
•Developing a comprehensive marketing and advertising plan
•Scheduling the time needed to show the house to potential buyers
•Identifying buyers who have both the financial means and the desire to purchase the home
Use these tips when demonstrating to FSBOs why using a real estate professional can be the best way to go when the time comes to sell a home.
