If you list and sell houses for a living, what better source of business could there be than someone with a sign in their yard asking to sell their house. Maybe you talked with one once. Chances are they chewed you up and spit you out and you said, "I'm not doing that again!" Yet if you gave up after just one attempt, or even after a few tries, you never would have learned to ride a bike. Isn’t it time you learned how to benefit from these ready, willing and able sellers?

You will profit if you master the FSBO listing since studies show that 70% eventually hire a Realtor. (80% of those who don’t say, "Next time I hire a Realtor.") If you put just one FSBO a week into your pipeline and list just one third of those who hire a Realtor, you get twelve FSBO listings a year. Could you use twelve extra listings?

Before you call a FSBO do a "check up from the neck up" Do you believe in the Realtor profession? If you had to sell your own house, would you list it and pay a full commission? Realtors that FSBO their own house amaze me. If you wouldn’t hire yourself, why in the world should anyone else? Numerous studies have shown that on average houses sold with a Realtor sell for 9 - 10% more than those without. Our services provide value equal to or greater than what we charge.

Why does someone try to sell by owner? They want to save money. Just like some people fix their own car or build their own patio. There are two questions a homeowner should address:

• Can I do it?
• Will I save money?

Those are the same questions you should address in dealing with the homeowner. The key to a bona fide listing appointment with a FSBO is to offer them something of value. People go to time share presentations not because they want to buy a time share but because they want the free show tickets or free rooms they will get. Assuming you do not want to stockpile show tickets, what can you offer the seller?

Two successful FSBO fair trades:

• For Sale By Owner Assistance Kit
• I can put more money in your pocket than you can

The For Sale By Owner Assistance Kit addresses the question "Can I do it?" Most sellers do not have the expertise or forms necessary to even begin to sell their house. Put together a complete package to help the seller. Remember, most of them hire a Realtor and if you have given them service before the fact, you will be at the top of their list when the time comes.

Can you put more money in their pocket than they can? Generally speaking you can, since homes that sell with a Realtor average 10% higher. One reason is the law of supply and demand. One is the law of supply and demand.

Most sellers understand the basics of supply and demand. The greater the demand for something, the faster it will sell and the higher price it will bring. In one Realtor association, the GLVAR, there are 5,300 real estate agents. Studies suggest each of them is working with about ten buyers. They show them property, call them when something new comes on market. That’s 50,000 potential buyers. Compare that to the five or ten the typical FSBO has seen. More buyers means more demand means more money with a Realtor.

Once you commit to mastering the FSBO, you will find many ways to prove you can frequently put as much or even more money in their pocket than they can. So get out there and ride that FSBO bike!

Published: December 9, 1998

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