How do you work FSBOs?

    Sunday, September 23, 2007, 04:52 PM [General]

    When faced with a seller that says "I don't want an agent", what they are probably saying is "I don't want to pay a commission". Considering the fact that (according to NAR) 51% of FSBOs choose to go by owner to save on commissions, this will be the most common objection most of us need to get over in order to close on the listing. Here are a couple of ways to convince the seller that selling FSBO is actually costing them $:

    - Many of us already know that, according to NAR, nationwide, homes sold through a real estate agent close for 32% more than homes sold FSBO. That comes out to an average loss of $59,800 per home on average! Explaining this simple fact to the seller many times helps them understand the concept of why it is important to increase their exposure and hire a professional.

    - Considering that (again according to NAR) 90% of buyers use an agent to search for homes, and agents use the MLS, FSBOs really have only 10% market exposure. Let the seller know that the overwhelming majority of buyers don't know that their home is on the market and because of this it may not sell. And if they do sell it, they won't be getting the best possible price.


    I authored the book, "The Real Estate Agent's Guide to FSBOs" and am trying to get it into the limelight.

    So...list any advise that you can about what works for you.

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    Susan

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