Statistically, most Realtors® who reach out to for-sale-by-owner homeowners give up after the first or second attempt. It’s understandable; if those sellers wanted representation, they would’ve called a Realtor—right?
What Many FSBO Sellers Don’t Understand
The simple truth is that many FSBO sellers don’t know what they’re missing. We take it for granted because we go above and beyond to take care of our clients… but FSBO sellers don’t see the behind-the-scenes work Realtors put in to make sure homes sell quickly and at the right price.
How to Approach FSBO Sellers
For many agents, approaching FSBO sellers is as simple as a cold-call to try to convince them to work with an agent rather than do it all alone.
It’s a tough sell, because they’ve already determined that they don’t want—or need—a Realtor’s help.
Rather than diving into a sales pitch, what if you toured their home to stay up-to-date on what’s happening in your market? What if you helped them a little while you were there? It may be as simple as giving the sellers a few copies of the forms they need to sell, an informative brochure about staging, or even a flyer from one of your own listings to guide them in making their own.
You probably won’t get the listing that day.
What you will get is recognition as the helpful, knowledgeable agent you are.
In real estate, our goals are often long-term—and this is a great example of that. Instead of hounding FSBO sellers to drop their listing in your lap, you’re actually helping them. When they’re ready to list, they’ll come to you (especially if you keep in touch while their home isn’t selling).
According to NAR, the most difficult tasks for FSBO sellers are:
· Selling within the planned length of time: 18%
· Understanding and performing paperwork: 12%
· Getting the right price: 6%
· Preparing or fixing up home for sale: 6%
· Having enough time to devote to all aspects of the sale: 6%
You won’t get every FSBO you aim for, but you can forego cold-calling and instead, invest yourself in helping these sellers—and in the long haul, even if they end up selling the home themselves without your representation, that’s what really pays off.
ARE YOU WORKING WITH BENCHMARK REALTY?
We’d love to answer your questions about what it’s like to work with Benchmark Realty if you’re not already on our team. You can learn more about our agent plans and find out how we empower our agents to take control of their own real estate careers by filling out the form below. We’ll set up a confidential meeting with a managing broker so you can explore your options.