Field Guide to Working With FSBOs

(Updated November 2011)

For-Sale-By-Owner (FSBO) sales declined to 10 percent of sales transactions in 2011, down from 14% of sales in 2003. 40% of FSBO sales occur when the seller knows the buyer, since a real estate agent is not usually needed in those types of transactions. Small towns and resort areas tend to have the highest rates of FSBO sales, with only 7% of suburban area transactions being FSBOs. Typically FSBO sellers have lower median incomes and are more often singles, especially single males. Every home seller must eventually decide whether to hire a REALTOR® or to sell the home on their own. But even after they decide to go solo, FSBOs can still be convinced to use a REALTOR®'s expertise. In this Field Guide you'll find dozens of articles, books, videos, studies, statistics and Web sites to help you find out who FSBOs are and how to work with them. (D. McCormick, Applications Administrator)

---

Most Important Reason for Selling Home As FSBO

• Did not want to pay commission fee: 37%
• Sold it to a relative / friend / neighbor: 27%
• Buyers contacted seller directly: 16%
• Agent was unable to sell home: 8%
• Did not want to deal with an agent: 8%
• Seller has a real estate license: 2%
• Could not find agent to handle transaction: 1%
• Other: 2%

Source: 2011 Profile of Home Buyers & Sellers, (National Association of REALTORS® - Research, 2011).

Information from NAR 

What is a 'Lead' to you?, (REALTOR® Magazine, Aug. 2011).

The Vanishing FSBO, (Speaking of Real Estate Blog, National Association of REALTORS®, Jan. 6, 2011).

FSBO: Talking Points and Background, (National Association of REALTORS® - Public Affairs, Mar. 12, 2010).

Home Sellers Seeking Professional Representation Rising, (National Association of REALTORS® - Economist's Commentary, Feb. 12, 2009).

Fanning the For Sale By Owner Flames, (REALTOR® Magazine, Jan. 2009).

Sales Meeting Toolkit: Converting FSBOs, (REALTOR® Magazine).

Public Advocacy Campaign: Don't Try this at Home, (National Association of REALTORS® - Public Affairs) - Print ads, web banners, and other advertising material for targeting FSBOs.

Unrepresented Sellers: FLIP those FSBOs, (REALTOR® Magazine, Apr. 2007).

5 inroads to FSBOs, (REALTOR® Magazine, Mar. 2007).

Buyers who go it alone, (REALTOR® Magazine, Jan. 2007).

The FSBO Market   

Working with FSBOs

Marketing to FSBO - How to Prospect For Sale by Owner Leads, (realtybizcoach.com, Sept. 29, 2009).

Entering the For-Sale-By-Owner World, (Realty Times, June 26, 2009).

How to Add Over Six Figures to Your Income Propspecting FSBO's, (Realty Times, Jan. 30, 2009).

Tips for Positioning Yourself as the Local Internet Real Estate Expert, (RISMedia.com, Jan. 13, 2009).

15 Powerful Ways to Find Prospects and become a Stronger Agent, (RISMedia.com, June 13, 2008).

What to say to FSBOs, (Florida REALTOR® Magazine, June 2008).

For Sale By Owner: A Rookie's Best Friend, (RISMedia.com, Mar. 14, 2007).

"Fizbo's" (For Sale By Owner): An Agent's Best Friend, (Realty Times, Jan. 5, 2007).