Thread: FSBO and Expired listings

On all of the MLS systems that I have seen you can do a search for expired listing. For FSBO's their home selling guides will have addresses and/or phone numbers. From the addresses you can use the tax assessors information to find out the sellers name or names.

I hope this helps some.

get the paper for the FSBO's and just start calling them. I recently read that FSBO's statistically sell their house for less than what an agent can sell it for, takes them longer and they have to deal with the headache of it all. PLUS they might not know how to protect themselves.

you want to focus on the positives of using an agent. In all honesty, I would rather use an agent. I wouldn't just start buying stock on my own thats why there are stock brokers. I'll pay people to do that. They are going to be able to make me more money that I can myself. If I can turn $100 in $150 that's great. If a stock broker can take that same $100 and turn it into $200 and charges me $15 to do so then I'm still coming out ahead...

If I can sell my house for $200k and not pay an agent thats great. I had to deal with all the advertising, headaches, buyer fallout...etc. If an agent can sell it for $220k so I paid $13,200 in commission which still leaves me with $206,800 which is more than I sold it for AND I didn't have to deal with the crap involved I'm much better off. MAKE THEM FOCUS ON THE POSITIVES. Its all about getting them to say YES. haha. Do you want to maximize the profits on your house? YES. Do you want to have your home sell quickly? YES. Do you want someone who is qualified to buy it? Yes. Great, list with me. Of course its not THAT easy but I hope you get the idea.

Yes getting Expired listings from MLS is a good way to go.

For FSBOs I always found knocking on the door was great, or conveniently calling from outside, so you can get face to face...you'd be suprised at the results if you can actually get in front of them.
(I would have already prepared a CMA on the home including photos of their home, will make you look professional and a good 1st Impression)

There are dozens of srcipts out there but if you really want to know what works run an add in the FSBO section for your own home, you'll get like 3 real buyers and 200 agents call you...you'll see how the good agents approach you and how the bad agents just give up after the 1st no!!!!

Though I think my favorite was getting in to the house and offering another service like the 'FSBO First Aid Kit' or just offering to give them flyers, a professional open house sign in sheet and prequalifying any potential buyers for them through your mortgage co. (for free), when they fold into getting an agent - you are already there =)

There were also some great videos by 'somebody' (can't remember) Knox, on 'How to Sell your home' or 'How to price your home right' which you loan to FSBOs - basically in the video he subtly scares them into wanting to use an agent - and who is coming by the next day to pick up the video?

You? or maybe me if you're too slow LOL

David Knox produces the video. www.DavidKnox.com.

His stuff isn't bad.

Just about every real estate self-help book I've found has a lease one section on how to court and get business from the FSBO's.

Like someone above mentioned I do like the real estate FSBO first aid kit idea. I read a book recently by Tom Hopkins that had similar ideas. One idea he gave that I really liked was to give the FSBO a yard sign that looks similar to your yard sign that has the words "for sale by owner." On the sign you would put a rider that had your name and phone number in the words
"compliments of..."

Supposedly there are also services that will aggregate the FSBO of information from newspapers and provide you with a list including dates when they started trying to sell their house.

While this market is obviously very attractive because they are definitely ready to sell, I don't think I'll start by focusing on them. Just be ready to get rejection after rejection before finally succeeding if you decide to go after FSBO's!

Drew Nichols

You can't be afraid of rejection in this biz - besides every NO brings you closer to a YES - so that's a positive thing

You never know until you ask!

I would have got the first FSBO who's door I ever knocked on on my 1st day with coldwell (years ago), except I was so excited about getting the presentation I told the 'big dog' in the office and he raced over there before me and tried to steal the deal BEEP

'ASK FOR THE BUSINESS'

I'm a shy person and that's not the best asset in Real Estate. Anyway, called the first FSBO yesterday. I told them:
My name is [soandso], I'm with Coldwell Banker. I saw your ad in the paper. I'm not calling to get your listing but let me ask you real quick: If I had a buyer that would fit your home, would there be a possibility I could show the property?
They said "yes, sure"
I said " Would it be okay for me to stop by and preview your home?"
They said "yes, sure".
I arrived there 15 minutes later, no sales pitch in mind, no presentation with me. I walked in there just wanting to preview their home. The word "listing" never crossed my mind. We started talking, sat down at the kitchen table, they showed me pics of their grandkids. Very casual conversation. I gave them lots of tips how to market their FSBO better. Still not wanting to get the listing. They appreciated my advice. They asked for my opinion on their selling price. I offered a CMA. Delivered it today, their price was right on target. They told me they'd hold on for another week and if it hadn't sold (I know it won't) they would give me a call because "you gave us such good advice to help us out. You have a good heart." That's why I'll get the listing. I didn't deliver the sale speech, I just went there to see the house and then give them advice, trying to help them as best as I could without asking what's in it for me.

You Got It - Nice One...Good Work...

You'll always be suprised when you go out and look for the business how easy it can be...especially when you can make people feel like you care and will really work in their interest as opposed to hard selling

Saying that though - you should have had a presentation & CMA in hand already just incase!

Coldwell has some excellent tools for FSBOs, they had a great system regarding the mortgage side, etc etc

Also when I started with coldwell (way back when), the broker gave us strict orders on commissions & deals we could strike, but after knocking on some FSBOs doors I noticed the Top agent in the office had 'open listings' on many of them, which let them continue to try and sell themselves for free, but he could put on the MLS and try to get a buyer & make him self look a lot better for having more & better listings..

(not that I'm advocating discount commissions etc, just an interesting fact)

KEEP IN TOUCH WITH THOSE CLIENTS THOUGH, they'll have 200 other realtors beating down their door...don't wanna get beat out by some sleazeball now LOL

Half into the conversation they told me another Realtor - from my office - had been there just the day before. LOL, the husband said "His name was, uhhhhh, I don't remember where I put his card, uhhhhhhh, I don't remember his name."
When I got back there yesterday to deliver the CMA he had my card planted by his phone and he did address me by my name the entire time.
He also offered to send buyers my way.