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As a Realtor, how do you feel about For Sale By Owners? Most Realtors either love them or hate them with a passion! Before we even being to talk about an approach you need a little perspective. Do you know that unless you're willing to visit a FSBO at least seven times you may as well not go at all? Typically, most Realtors visit By Owners once or twice, decide they're "not real", and move on. And most Realtors are getting "typical results" because they are doing what the typical Realtor does. At conventions, I often ask how many Realtors ever sold a house by themselves as a By Owner. In a class of 100, there are usually 5 to 10. "How many of you had Realtors visit you more than once when you were for sale by owner? " 75% had more than one visit. "How many of you were visited by the same Realtor 3 times or more? " 20% remember at least once visiting at least three times? "More than 4?" I seldom have more than one person left standing at this time. You see, as Realtors we find it all too easy to bail out. We don't know how to continue to make those visits that could turn into listings. One of my agents said to me: "If you'll tell me what to say each of the 7 times I'm supposed to visit, I'll go!" Would you? What could you do, give or say to a For Sale By Owner? Here's a radical thought: On the first visit, don't give anything and don't say much. The entire purpose of the first visit is merely to get it out of the way. Everyone visits one time. So to the homeowner you are just one more pesky Realtor! Make it short, make it sweet and make it today! Why? All the other agents in town kind of think that they are going to walk in the first time and walk out with the listing. They come armed with half a ream of paper, all their best closes rehearsed and just try to overwhelm the By Owner. The FSBO is prepared for that visit. He has rehearsed, too! He can overcome all of YOUR objections! Odds are at this stage of the game , he is a lot more dedicated to not listing than you are to getting him listed. Trust me on this one. On your first visit, the FSBO is going to win that round. Rest up, it will be your turn soon. Let's prepare for visits 2 - 10. Ten? I thought only 7! " 7 on average" means that some require more. Better to over prepare. So what could you do, say, or give to a FSBO? The approach always has to be: "I was just in the neighborhood. I thought of you. Hope this helps. By the way is there anything I can do to help you while I'm here?" If you were selling your home yourself, what kind of things would be helpful? Do you have any articles or pamphlets on ad writing? Could you get a loan officer to prepare a financing sheet for you? Do you have information on seller closing costs? Any articles in the newspaper about what repairs and remodeling pays off at resale? Any articles or information about the importance of title insurance? What about home warranty programs or building inspectors? What about a glossary of all the jargon that is passed about during a home sale? Got the idea? None of these items are hard to come by, but they would be very helpful to a FSBO. Each of them would give you another excuse to visit and chat and let them get to know you. And you know 8 out 10 FSBO's eventually list. And if you are the Realtor they know best when that time comes, it just might be with you! |
