Yes Ron, I agree with you completely. FSBO's is really a rediculous term to refer to a private seller. Since the majority of people try to sell their house privately to save commission, a Realtor must never loose sight of the fact that they in fact...do want to sell their house. I've never understood the intimidation factor so many people feel...face it...these people have a house...they obviously want to sell it....and if you're a Realtor...that's what you do for a living...Hey! It's a perfect fit! The Secret to getting an unrepresented seller to get you to represent them...is contact..followed by contact...followed by contact. As I have said many times...the only thing you have to loose is the chance of earning a commission cheque...plus the spin offs that that listing may provide you! Excellent article...and go offer your services to as many URS's as you can!...ps...once every 3 days...for 2 weeks..and chances are...they'll be yours!

Yes Ron, I agree with you completely. FSBO's is really a rediculous term to refer to a private seller. Since the majority of people try to sell their house privately to save commission, a Realtor must never loose sight of the fact that they in fact...do want to sell their house. I've never understood the intimidation factor so many people feel...face it...these people have a house...they obviously want to sell it....and if you're a Realtor...that's what you do for a living...Hey! It's a perfect fit! The Secret to getting an unrepresented seller to get you to represent them...is contact..followed by contact...followed by contact. As I have said many times...the only thing you have to loose is the chance of earning a commission cheque...plus the spin offs that that listing may provide you! Excellent article...and go offer your services to as many URS's as you can!...ps...once every 3 days...for 2 weeks..and chances are...they'll be yours!

Ron - You are absolutley correct.

I DO NOT fear the URS...I embrace them, offer limited "No Cost" services to them, and when they are ready. I represent them.

I have to say I'm one of those agents who tended to stay clear of FSBOs and I paid a hefty price last year when I lost two buyers cause they contacted the sellers themselves. I learned my lesson and started contacting FSBOs for clients, but still lost a deal, and came close to losing another. In one case my buyers saw a chance to save a dollar and went for it, dispite my having coached them on my ability to negotiate the deal. In the other case the owner absolutely refused to return my phone calls and the buyer contated him directly. In that case the deal fell through since the seller wanted way more than the property was worth.

In any case, lesson learned, I ignore FSBOs at my peril. And I like the new term URS. It might only be semantics, but it feels better.

Great post Ron.

Hello all, John here with Keller Williams. Great article and subject to talk about! Let me tell you how my wife and I handle our buyers and FSBO's. I will tell you we have lost clients to FSBO's in times past, but have learned that a buyer agency agreement works well. How you may say? You can very well explain to a potiential buying customer when meeting face to face, that your (realtor) committment is greater than 100% to the buyer, that is, driving and touring homes, lunches, etc? What a buyer's agency agreement does is simple, if and only if the client purchases a house, they will commit to my services. This agency agreement is for a time period as well, like a listing agreement. It weeds out all the wasted and frustrating time with customers that never were intending to work with you anyhow. Secondly, the internet FSBO's are great marketing tools and prospects. I contact them and read a script to them that ask if they are agent protected? 95% of the FSBO's doesn't know that term agent protected, of course they ask what does that mean? I tell them I have clients that maybe interested in their property, would they pay me a commission for bringing a client? Some say yes and others say no, however, the conversation always leads to the discussion of how there house is marketing; and guess what? They are all mostly frustrated and that is right sports fans, the door is open to interview over the phone your listing services, which turn into well you get the picture? Enxing, out!

Hello all, John here with Keller Williams. Great article and subject to talk about! Let me tell you how my wife and I handle our buyers and FSBO's. I will tell you we have lost clients to FSBO's in times past, but have learned that a buyer agency agreement works well. How you may say? You can very well explain to a potiential buying customer when meeting face to face, that your (realtor) committment is greater than 100% to the buyer, that is, driving and touring homes, lunches, etc? What a buyer's agency agreement does is simple, if and only if the client purchases a house, they will commit to my services. This agency agreement is for a time period as well, like a listing agreement. It weeds out all the wasted and frustrating time with customers that never were intending to work with you anyhow. Secondly, the internet FSBO's are great marketing tools and prospects. I contact them and read a script to them that ask if they are agent protected? 95% of the FSBO's doesn't know that term agent protected, of course they ask what does that mean? I tell them I have clients that maybe interested in their property, would they pay me a commission for bringing a client? Some say yes and others say no, however, the conversation always leads to the discussion of how there house is marketing; and guess what? They are all mostly frustrated and that is right sports fans, the door is open to interview over the phone your listing services, which turn into well you get the picture? Enxing, out!

I ordered some free post cards from www.vistaprint.com that has a little verbage on it about "if you find yourself weary of trying to sell it yourself... give me a call.... yadda, yadda."

I just stick the card in the crack of the front door and move on. (DO NOT put it on the mail box, it's illegal!)

I've personally talked to scores of FSBO's by knocking on their front door... without getting the business (maybe it does get listed, but not with me. HA!) so I'm at a point where my attitude is just " I'm here if you need me."

So many FSBO's are over priced and it's hard for them to hear the truth in a buyers market.  Heck, it's hard for ANY one to hear the facts!  They can't believe that their home may be worth LESS this month than it was 5 months ago.

I just listed a property where a seller had tried to sell it themselves for a year and a half and after 2 deals had fell through they contacted me. Why did they contact me? I had met them when they moved to town 3 years ago and didn't ever get to represent them as buyers since they did their own thing. But I would contact them occassionally to see how things are going. I would give them free advice but always ask them to keep me in mind if they decide to put it on the "active" market. Suggesting in a nice and friendly way, that showing it themselves wasn't exactly the "active" market just by saying "active market". It seemed to have worked, I got an email from them last week saying help. I love this business. Just give people what they want, they wanted to sell, I wanted to list. You get by giving....

I just don't know what the problem is.  I eat FSBO's for Breakfast.

Call them URS's or whatever you want to call them...

They are like sitting ducks in a shooting gallery.  They plant signs in their yard that say COME GET ME....

And I do :)

See http://www.FsboKiller.com for some free call scripts, tips and techniques

Lonn,

Your FSBO website is fabulous!  And it's free!  Very impressive.

Thanks for sharing.

All the best,

Carol

You made some good points, Ron. When representing buyers interested in a FSBO, I've always felt it's best to take the bull by the horns. They usually respond well to the offer to bring a qualified buyer, I have them sign an Authorization to Sell form stipulating the commission they will pay me and that they understand I represent the buyer and we go.

Sometimes they won't play...;^), but that's life. In general they tend to be overpriced so we end up moving on anyway.

I guess I wasn't born with a SalesScript spoon in my mouth.  I have no right to commission for a FSBO purchase as I my license is only valid with regards to organized Real Estate.  That's just me, I am the kind of person if FSBO'ing my own home would tell a Realtor to bug off regardless of them having a buyer and most FSBO's in my area I talk to are like that.  (likely because house prices have gone up nearly 100% in the last 18 months and commissin hasn't come down)

Sales Scripts are what make Realtors so low in public opinion polls from conversations I have with the public.