One of our sellers got a call from an agent telling her that she had buyers who were very interested in her home. The agent showed up at her open house the next weekend (without buyers) and began to implement "FSBO Prospecting 101". In the old days, agents would be quick to tell FSBO sellers that they were down right stupid to think they could sell their home without the agent's knowledge, assistance and the coveted MLS. The new strategy is to become a partner, an ally of sorts. Provide free information and encouragement to "unrepresented sellers" (the new term for FSBOs), send them periodic gentle reminders and sympathetic phone calls to see how things are going. If you play your cards right, you may land a listing within 30- 60 days. Here's how it went with our seller:Step 1: Be A Resource - The agent handed the seller a stack of agency information, while complimenting the owner on what a beautiful home she had. She was surprised that she wasn't already under contract, in fact. (worry nugget #1)
Step 2: Promote Feeling of Inadequacy - The agent then asked her, "Why haven't you attached the Massachusetts Lead Paint forms to your flyer?" This was designed to rattle the seller by making her feel that she was doing something illegal, I suppose. In reality, the lead paint forms are supplied to the buyer as part of the Purchase and Sale agreement, not handed out at open houses!!!
Step 3: Grab The Listing - HOLD ON! Fortunately, our seller saw through this little charade and informed the agent that she had the marketing end under control with our help and had retained a very competent real estate attorney to represent her legal interests. The visit was cut short as the ruffled agent gathered her materials and left.
What is the best way to sell confidently "by owner"? Contact your regional for sale by owner company early. Prepare your home carefully, get it appraised by a professional appraiser and set your price according the the market conditions, and expose it to a wide buyer pool.
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