Building relationships

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FSBO relationships are built over time. By introducing yourself to the owners the first weekend their FSBO is announced, before the masses start calling on Monday, you create a good connection. By sending them tools, educational materials, free reports, and forms, you become an ally. By taking a personal interest in them and their situation, you create a solid connection that, in many cases, pays off when the owners decide to go with an agent they know and trust — preferably you.

Over the course of building a relationship with the owners, you'll be able to get them to understand that in every real estate transaction a commission is paid. In the end, FSBO sellers don't save the commission. Rather, they try to earn the commission by doing an agent's job. In doing so, they spend a great deal of their money and time to perform, as best they can, the duties of an agent. Those duties include exposing the home through marketing, presenting the home to buyers, building a sense of buyer urgency in order to prompt an offer, scheduling home inspections, handling qualification checks with the lender, supervising repairs, and facilitating the closing.

FSBO owners unwittingly let buyers basically steal the "saved" commission through under-priced offers. People don't shop FSBOs because it's the cool thing to do. They do so because they know they can secure a low price and a high initial equity position.

By building a relationship over time, you'll demonstrate your value to the FSBO seller. Whether you're working with FSBOs or expired listings, your goal is simply to be one of the two, three, or four agents that the owner will interview when the time comes. You just want the opportunity to compete and make your presentation.

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What You Need to Know About Real Estate

What You Need to Know About Real Estate

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