Friday
August 1, 2014

6 Suggestions for Converting FSBOs

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6 Suggestions for Converting FSBOs

Avoiding the commission is the leading motivation for people who decide to sell their homes themselves; 37 percent of FSBOs cited commission cost as their primary reason for not using real estate salesperson in The 2011 NATIONAL ASSOCIATION OF REALTORS® Profile of Home Buyers and Sellers. Here’s how to turn FSBOs into clients:

If you can’t beat them, join them.

Judy McCutchin of RE/MAX Preston Road North in Dallas advertises FSBOs’ houses on her site based on an agreement that if she ends up bringing them a buyer, she collects her normal commission from the seller.

  1. Show FSBOs the long list of all that’s involved in marketing a property—from photographing and advertising it to negotiating and closing a deal.
  2. Illustrate with examples how real estate pros—through the MLS and their relationships with top producers—can expose FSBOs’ property to the widest pool of buyer in the most efficient time frame.
  3. Promote yourself, your experience, and your designations. Be sure to highlight your expertise in moving properties in the FSBOs’ neighborhood.
  4. Focus on how few FSBOs get the price they deserve and how much longer it takes to sell when you go solo.
  5. Leave a list of selling tips. FSBOs will remember that you helped them with the daunting task of marketing their property. If they fail to sell on their own, they may come back to you or later refer you to a friend.
  6. Be persistent. FSBOs will likely reject your first overtures. By the third or fourth time, you may find them at the peak of their frustration and ready to sign on with you.
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