You Told Us...

Your Best Hooks for Reeling in FSBOs
With sales booming in many parts of the country, we speculated that FSBOs might be taking advantage of the plentiful supply of buyers to avoid listing with a salesperson. So in August we asked for your best sales line or marketing idea to get the do-it-yourselfers to list with you. Here’s what you said:

I actively pursue FSBOs, but it has taken more energy now to get them to list than in the past 10 years. We’re experiencing a sales boom for properties priced under $200,000.

I’ve always found that the best way to pursue FSBOs is face-to-face: Knock on their door or drive up behind them in the driveway. Make sure to assess their needs and wants before you ask for the listing.

I’ve also found that unqualified buyers--those with bad credit, no credit, no downpayment--think they can get around their money problems by pursuing FSBOs. It’s helpful to alert FSBOs to that and to show them that a salesperson has the tax and financing knowledge to help prospects become buyers.
Charles E. Ponton, CRS®, GRI
Century 21--Brock Mills
Wilmington, Del.

Having once been a FSBO myself (and a successful one), I can point out to sellers the downfalls and risks associated with marketing their own property.

FSBOs are eager to know details about market conditions and prices and frequently have misinformation about sales in their neighborhood. They often don’t understand the legal implications and liabilities involved in the sale of their home. The question that generally makes them appreciate the services of a professional: Have you prepared a marketing plan? Most think all they need to do is put an ad in the paper.

I usually meet them at their open house or by appointment after I’ve sent information and followed up several times to track their progress. Actually, I haven’t encountered a lot of resistance. Many have asked me to show their housefor them and have offered to pay me the selling part of the commission. That often leads to a full listing because they get frustrated by the process.

Our role is to educate FSBOs and then let them decide whether to list their home with a professional.If we can’t prove the value of our services, why should we expect them to use us?
Beth Carlson Ganem, associate broker
Audrey Edelman & Associates Real Estate
Ithaca, N.Y.