FSBO Guide - Authorify

Why It’s Easy to List FSBOs The biggest advantage of pursuing FSBO listings is the lack of competition. All real estate agents know about the potential of expired houses leads, so those homeowners get a lot of calls. I sell in the Jacksonville area, which is a fairly large market with approximately 6,000 Realtors®. When a house listing expires, those homeowners will receive anywhere from 50–100 phone calls from agents. In contrast, FSBOs may only get 50 calls over the course of three to six months on the market. These numbers show that the competition for FSBOs is reduced, making them much easier to list. Here’s a little story to illustrate what you need to know to best approach FSBOs. When I was young, I remember being chased by a much larger kid who was going to shove me down to the ground. I was running away from this kid and, as I ran around the corner, I came to a door which I tried to push open. I pushed as hard as I could, but the door would not budge. Suddenly, I realized that I had to pull the door open, not push it. I pulled on the door and it easily gave way, allowing me to escape the building. It’s a simple story, but it illustrates an important point about listing FSBOs: if you don’t know how to go about it correctly, it’s going to feel overwhelming, challenging, and frustrating. However, if you know the one little secret that makes all the difference, getting a FSBO to work with you is easy. ● Taking a Chance on FSBOs The reality is that approximately 25% of all FSBO sellers put their house on the market for a few weeks just to see if they can get lucky without hiring a Realtor®. Every once in a while, in a hot market, they do get lucky and their house sells in a week or two. Usually, they won’t end up selling for the same price they would get with an agent, but every once in a great while they will get lucky and net more money on their own. Seeing this example of success, others might try the FSBO method for a few months. However, few enjoy the same results. If they’re motivated and under pressure to sell, eventually they will recognize that they are in over their heads. When that time comes, they’ll go looking for a real estate professional. That’s when you, as a pro, can tell them everything that needs to be done in order for them to sell their house: staging, cleaning, better-quality pictures, better marketing, and more exposure.