The direct approach...

Knock Knock, Hi I'm Ms. Realtor (here's my card).  I have a number of buyers looking for homes in this area.  Do you have any information or brochures on the home and would it be possible to schedule a personal inspection of the home?

If the door doesn't slam and you're invited to walk the home, you are suddenly now showcasing yourself as much as the vendor is showcasing his/her home.

Good luck

What has worked for me in the past is to be the last person at the FSBO open house, after all the other agents have come on gone with their pitch and they have not gotten any serious buyers.  

I don't claim to have buyers interested, I merely indicate that I like to stay on top of what's available for sale in my market area and may I take a look.  While they are walking me through, I ask them their favorite features of the home and how they got their price, what made them decide to try to sell without an agent, how long will they try before they list, do they already have an agent picked out.

Be sure to ask permission to stay in touch.  If they are over priced, ask them if they'd like for you to do a CMA so they can see what their competition is.  If they're underpriced, close on if I could get you your bottom line and cover my commission, would you...?

I knew a couple in my other MLS that you used to contact FSBO's in their farm area, and ask them if they could advertise their property for them.  Not on MLS, but other publications.  No obligation, but if someone called them to see the houe, they would have the right to sell it and earn the offered commission.  Of course, they also stayed in touch with homeowner showing them what they advertised in, and what calls they may have recieved, etc.  A great number of the FSBO's ended up listing with them in the 30 to 60 day time frame...  

I am not endorsing this, and I don't know how I feel about it.  Well Ok, I know how I feel, like it is somehow icky?  But, anyway, it is an idea...

Shelly

What they others are saying. Meet face to face; knock on the door if the house is occupied, call and try to get an appointment to see it if not, try to build some rapport, and stay in touch. Brochures, letters and/or postcards haven't worked at all for me, it's all been personal contact and then staying in touch until they're ready. And just realize that you'll be kissing a lot of frogs before you find the prince. A few will manage to sell on their own, some will list with an agent - another agent, I mean - and a lot will list with limited service brokers. Once in a while, one will list with you. Of the more than a dozen we've personally spoken to in the past month, one has listed with a discount broker, one has listed with a different agent, most are still trying to do it on their own, and we have taken one listing. How is that compared to how the rest of you have done converting unrepresented sellers?

I agree with Bee. Some agents, well I will go ahead and say it, most agents are going for the listings. What the FSBO wants is buyers. Just make yourself available for them and let them know you will answer any questions they might have. This has worked for me in the past and I have recently listed 2 FSBOs and they are serious converts.

Don't force them to list with you. You can ask to see their home like Bee and get an idea of what it offers and ask if you can bring buyers by when you have one that you think may be interested. Agree upfront what you would charge for your services and do a sellers net for them so they know what they will make. Just work with them and don't go after the listing. Bring them the buyers, you can do a one time showing agreement. I actually got the listings by NOT going after it, be different than the other agents.

Also, you might go into history here on relib and see some other posts about FSBOs that may be helpful. Good luck.

Bente - I don't pursue FSBO's too often...I pick and choose the ones I go after.  I try to find those that I know I can provide value to - the ones that are a little under market where we can add my commission to the price.  I've only lost 1 FSBO that I've pursued by going to the open house.  Letters, flyers, brochures have NEVER gotten me anywhere with them.  Neither has free flyers or yard signs.  It's the face to face and proving value that will work 9 times out of 10.

A couple of months ago Lonn Dugan, one of the contributors to this blog, was kind enough to offer a multitude of information about listing FSBO's.  It is at www.FsboKiller.com.

Some of us got on him for some other self promotion stuff, but I for one will say that his contributions to this blog far outweigh the controversial part.  The ideas he presents at www.FsboKiller.com are very good and you should check it out.

Bless you Mark.