Agents often want to talk with For Sale By Owners and hope to work for them. Here are some great tips:
Be Consistent and Follow Up
FSBO wants to save money by not paying commissions and will not list their home with a realtor until he or she sees how much a real estate agent can help the selling process and make life easier for them. Working with FSBOs depends on you consistently following up long-term. As you build a relationship with the homeowner over time, he or she will keep you in mind if listing with an agent ever becomes necessary. Most likely, they will come to understand what a value it is to work with an agent especially after some time scheduling their own showings and working with unqualified buyers. And, if they do get a contract, they may start to realize they are a little over their head when it comes to understanding all of the deadlines, terms and repercussions. Remember that you are building relationship! Do not ask to represent the FSBO at the beginning of the first phone call or meeting. Asking that early on will likely turn him or her away. Let them know you are always available for listing if they ever decide they are ready.
Providing valuable insights can be successful in building relationship with FSBOs. Depending on the market, the odds are in your favor that eventually you will get the listing if you provide enough value to the seller and you follow up consistently long-term. Some common ways you can provide value to a FSBO are by giving them a market analysis or providing recent comparables. You can also give them any contacts you may have to get their home ready to sell, such as a painter or stager.
Schedule A Meeting
Calling to schedule a meeting has a much higher chance of being successful of obtaining the listing later if you can get one. Several ways to find FSBO information are through FSBO websites, yard signs, Craiglist, etc.