I have a nice couple who I'm working with right now who are going to be my buyers as soon as they sell their home. They're selling their home as a For Sale By Owner because they don't have enough equity in it to list it with a realtor.
Last night I took them to see a great new listing I have (generated from Active Rain by the way - more on that later). After we took the tour, I asked them how the sale of their property was going. "Pretty okay," was their answer.
Hmmm, at this point I have a decision to make. Do I help them by giving them some tips or not? I know many realtors who wouldn't help at all because they didn't list their house with a realtor. I'm more of the philosophy that we're all here to help one another and that what goes around comes around. So I visited with them about making sure the house was on Craigslist which was really funny because they went, "Craigslist? What's that???" So that was a fun conversation. You should have seen them light up when I told them it was FREE! I also talked with them about paying a buyer's agent and making sure it was clearly advertised, etc.
I didn't give them everything I've got in my bag of successful sales tactics, but I thought those two things would be helpful. After all, if they sell their house, they become my buyers...and that's a good thing!
Here in our area I'm seeing more people trying to sell their home as FSBO's this year than last year. Interestingly enough, I'm seeing less people using discount real estate brokerages and more FSBO.com sites. I wouldn't have expected that. I guess it's due to the decreased cost.
Do you help FSBO's? Are you friendly with people who are trying to sell their home by owner? What's your take on this situation?
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McGraw Realtors is the #1 real estate company in Northeast Oklahoma. We are consistently top ranked in the greater Tulsa area in total sales volume. I specialize in the Tulsa and Owasso areas.
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Absolutely! Eventually, most unrepresented sellers turn to an agent to list the home. Be there to be "the one."
I would. Afterall, they can not buy with you until they sell. And many FSBO's will list eventually - help them now a little and they will be yours then.
Bob~ I am always helful to unrepresented buyers because I feel like it is important to treat them like I would like to be treated. It doesn't always mean I have to make money, it is about doing the right thing. Lending a hand is always the right thing to do.
I'm not thrilled working with FSBO's, but i do on occassion. I might have them sign a buyer broker agreement and then go ahead and help them get that home sold so you can sell them a new one.
I am all for helping the FSBO. If approached properly, most FSBO's are willing to pay a commission to a buyer's agent for bringing a buyer. Also, they may give up the FSBO route and decide to list with an agent and you will be in a good position to get the listing. Always treat people right; it will pay dividends down the road.
Bob, I too agree that it's great to offer a helping hand to the FSBO. I've even offered to advertise their home on my personal website and to be present if they did an Open House. By offering some minimal guidance, you can earn their trust while providing a much needed service...and like you mentioned, once they sell their house, they will become your Buyer. Congrats on your "cooperative" approach.
Bob, Yes! I believe that the more you help others, the better your business will be in addition to just being a Better Person! My choice of being a Christian means that I'm going to be helpful. Great post.
Bob,
I have seen less for sale by owners, here in my area. Most times, they end up getting listed. I don't have the time to visit them and offer my assistance. We have buyer agency laws here in Ct, so, if I had a buyer who was interested in one, I would then approach them with my undisclosed person form:) They are usually overpriced. Some people are waiting for the market to come back?
It's a Good Life!
Fran
Bob, I do sometimes help FSBO sellers as well like you do. It depends on the client and the situation. Most FSBO's in our area of Northern Illinois really do need a professional Realtor to get the exposure and help they need to get the best sales price, in my opinion.
I prefer FSBO. There is much time to have and pay your house. And I like FSBO sites too. And I found really great site!!!!! It was called Fizber. I think the best service was real estate forms at http://www.fizber.com/real-estate-forms.htm.
I have helped the FSBO's before, they may not use my services, but the word of mouth could get some future business. We have some VERY aggressive FSBOs in my area, with huge signs on every corner. So if they contact me I will help them, but not sell their house for free.
I would help a FSBO up to a point. It gives them a chance to get to know you, and then when they ARE ready to list, at least you have a good chance of getting the listing.