If you are one of those fortunate agents who find themselves in a market where inventory is in line with sales, FSBOs represent a small portion of the listings and expireds are few and far between, this article is not for you. Cease reading and go make a few prospecting calls.

Now, for the rest of you operating your businesses on planet Earth, read on. Not a day goes by that I don’t hear some lamenting about the rise of the FSBO population in this or that market. Not only are there more of them, the owners are seemingly possessed of super-human powers designed to outwit the keenest of agents. This is a case for Agent 00-FSBO.

Take it from me. FSBOs are tough and not for the faint-of-heart. However, if you consider the reasons for pursuing them, only a head of lettuce would run from the challenge. Here are a few things to note:

1. No guessing games required. They want to sell. (I know, you’re thinking, Nothing gets by this woman.)
2. Your hit ration is going to be higher than with cold or warm calls (assuming an adequate skill level)
3. As markets shift from seller to buyer markets, their numbers will increase
4. They need help
5. They tend to be more desperate than other sellers and need their money
6. They are a good source of serious buyer leads

Let’s take a look at awareness required to effectively work FSBOs:

• You must understand their psyches. They do it because they think that they can. Often, they are right. They may or may not have had a bad experience with an agent in the past. However, a more important issue is that they think that with all of the Internet help out there, how hard can it be? The agent is the person with their fingers in the seller’s pocket.
• They have inflated egos. If you hang out a sign, you are telling the world that you can sell real estate. They now have something to prove.
• They are scared. Even the least seasoned FSBO knows that they are taking somewhat of a safety risk letting strangers in. They also have to give up their time, perhaps family activities, social engagements, etc. to achieve their objective.
• They are uneducated about the real shortcomings of FSBO sales. They think their attorneys will handle everything, including qualifying the buyers. Most of them don’t have a clue as to disclosure requirements. Again, that’s their attorney’s job. Well, think again, Mr. FSBO.
• If they were successful selling in the past, they make the leap of faith that the market today is the same as it was whenever. Worse, if they know of someone in their immediate neighborhood that was a successful FSBO, they are bolstered by that success and think, If they can, then I certainly can.

Armed with these awarenesses, you are ready to educate yourself to handle each of them by using the…Columbo Method. Yes, that’s right. Be the first in your office to master the oft’ maligned, but highly effective, technique for beating those FSBOs at their own game.

Who does not remember that shabby, raincoat-clad little detective, Columbo, puffing away on his cigar, whilst outsmarting his foes by playing dumb? Columbo’s skill lay in his ability to remain calm and non-threatening and drawing out information from his suspects through the use of fabulous probes.

Here’s how that works with a FSBO. Let’s use the example that the FSBO feels that he can do it on his own because he has the Internet at his fingertips. (Actually, what follows is a method that works well with most scenarios.) To argue the point with him is to set up a defensive posture on the FSBO’s part. A more effective approach would be to:

1. Acknowledge the Internet as a valuable tool, and applaud him for using it
2. Ask him to help you to understand how the Internet will be most helpful in his quest to sell (write down the answers and pretend to be focused at all times)
3. Inquire about his timeframes and goals
4. Then, with the most Columboesque face/voice you can muster, ask, “Wow, that sounds like a well thought out plan. I was wondering, if by any stretch of the imagination that does not go exactly as you planned, what will it do to your timeframe, plans, goals, etc.?” Keep probing in this innocent-a-bit-confused-help-me-to-be-clear method until you know their time frame, limits, point of desperation, real concerns, etc. Then, you have not just information that is really useless, you have knowledge, and that’s power. When you know your FSBO’s limits and breaking points, you are able to show them that you are empathetic, there for them and can solve their problems if and when they crop up.
5. Ask how you can help him to achieve his goals. After all, if you can help the FSBO sell his home, you are competing with one fewer seller.
6. Then, and only after you are able to effectively demonstrate that you do care about him and his goals, can you ask for the opportunity to represent him if in the future he decides to go with an agent.

Another important thing to know about FSBOs is that they need to be kept in touch with on a regular basis until they sell or list. They are not usually one- stoppers. You must have a system in place for following up with them weekly. The agents who give up after only a couple of tries will never be successful FSBO machines.

Vary your contacts through face-to-face visits, mail, phone, e-mail, etc. You can create your own follow-up letters or cards, or subscribe to a company that provides them for a fee. In addition many of the contact management software, such as Top Producer i have FSBO letters included.

Check daily to see when new FSBOs come on the market and add them to you follow-up immediately. Your name must be the one that sticks out in their minds. You think every other agent is all over them, but you are wrong. Many try initially but give up in sheer frustration after a month or less. Stick with it or don’t even bother starting. I would rather see you spend time doing other things than to waste it on a half-done FSBO campaign.

This article could really go on and on. There is much to learn about FSBOs. However, with what’s been said so far, a willingness to go out there and do it and make some mistakes along the way, it won’t be long before common sense, experience gained and success will spur you on to being a FSBO machine!

Published: July 6, 2001

Use of this article without permission is a violation of federal copyright laws.

Marylyn B. Schwartz, CSP, is a noted expert in real estate and corporate sales training, team development, customer care and diversity issues. She is president of TEAMWEAVERS and was a trainer for the Floyd Wickman Courses©, Sweathogs® program for over five years. Marylyn is also an author and Business/Life Coach. Contact her at , or visit her website at MarylynBSchwartz.com.