How to Get FSBO Listings

Wouldn't it be nice if every For Sale By Owner (FSBO) listing understood the value and skill an agent brings to the selling process? In an effort to skirt commission and without fully understanding the depth of knowledge required, many ambitious people attempt to sell their home without the help of a real estate agent.

In fact, each year about 18-20% of home sales are listed as For Sale By Owner; however, only about 1/3 of these transactions are successful. More often than not FSBO listings are eventually turned over to a Realtor. How can you be sure that you're the agent that secures the FSBO listings?

For Sale By Owner listings can be challenging, as this group is not generally receptive to real estate agents. They can be somewhat defensive prospects who are wary of agents approaching them. They likely don't fully understand the intricate process involved with listing and selling a home, but they are hoping to save money. As a business person, the desire to cut down on expenses is one you can sympathize with. Your goal is to shine a light on the value of a real estate professional without being too aggressive.

While FSBO motivation is generally financial, statistics show that selling a home with the assistance of a Realtor will actually result in a higher profit. According to the National Association of Realtor's 2014 Profile of Home Buyers and Sellers, the average FSBO sales price was $208,700, while the average price for a home represented by an agent was $235,000, a difference of 13%! Therefore, listing with a real estate agent doesn't only benefit you as the agent, it also benefits the seller!

If you approach these independently-minded home sellers in the right way, you'll have a good chance of getting a new listing and, ultimately, another loyal client. Here are some suggestions.