31 March 2007
FSBOs are your friend. When you consider (depending upon the source) that about 70% of FSBOs are eventually sold by Realtors, there is a massive market out there. Can they be YOUR market?
One simple tool - one idea: You can help a FSBO with a CMA to help them price their home (per local real estate laws and guidelines) and in turn possibly become their Buyer's agent - they're moving somewhere.
We took this concept a little further.
We recently did an eight-show radio (WTDY) series of FSBO episodes that incorporated other industry pros (realtor, mortgage, attorney, HOW, title, whatever) instructing FSBO owners on how to sell their homes. We were sincere and focused and offered all the advice and marketing techniques at the disposal of our impromptu "team." Did we hurt ourselves in this market?
We doubt it. Ignorance can indeed be bliss - we painted a very real picture of pitfalls, responsibilities, costs, and obligations, yet we still encouraged. But people are people and each will respond differently to the info. Some might do it, some might be overwhelmed and call right for help away, and some might ignore us - but no one made any enemies by offering the help and opening a dialogue.
Consider yourself - how many self-help books do you read and how many do you REALLY follow?! Information itself use useless without implementation. FSBO sellers are no different.
We can embrace the FSBO and build relationships or we can consider them lost forever. Since 70% sell through somebody, that somebody could be you. Even if all the free info changes that to 60% or 50%, that's still a big fat opportunity.
If you send an email I'll point you to the audio archives (podcasts). Or catch a link on our home page. Or go to the player in the right-hand margin.
Art Blanchet
Bill Quigley
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