If you are considering doing an FSBO, congratulations! As an agent, I want to welcome you to the marketplace.
Maybe you think that you are now in competition with agents. Don't worry, agents like you far more than you know. They will call you, send you letters and knock on your door. You will become very popular with agents. They will offer you tips and tricks to help you sell. they may even offer to give you a home pricing evaluation (CMA). Contrary to popular belief, most agents love it when they see someone post their home, "For Sale by Owner".
Agents reach out to FSBOs, not to be annoying, but to try to become top-of-mind with the sellers. These agents know that over 90% of FSBOs will list with an agent soon after they begin the FSBO adventure. They want you to know they are on your side.
It is understandable that you may think agents view FSBOs as the enemy. Maybe you believe that:
1. FSBOs reduce the availability of commissions to buyer's agents
Actually, very few FSBOs refuse to "cooperate" with agents, typically offering buyer's agents the same commission, or close to it, that they would have received with a listed property
2. FSBOs reduce the availability of commissions to listing agents
Maybe not - or not enough to notice. Very few FSBOs actually close successfully. Most list with an agents, becoming clients, ADDING to the commission pool, not reducing it.
3. FSBOs compete for buyers
Nope, not much at all - at least not for qualified buyers. Almost all qualified buyers prefer using an agent. After all, using a buyer's agent is free to the buyer and has many benefits. Usually, FSBO buyers ("lookers") are just tire kickers, who are either not well qualified or who are early in the process, not ready to buy. Others are investors who look at FSBOs as a way to make a quick buck.
You are not viewed at the enemy by agents. You are looked at as someone who needs to sell who will soon choose an agent soon. As an FSBO, expect to be the focus of a lot of agent love. Agents don't hate you at all. You are the "low hanging fruit" of real estate prospecting. Experienced agents view FSBOs a just "pre-listings." FSBOs are hand raisers, announcing to the market that they want to sell. And, agents are standing by, ready to help you when you decide that it's time to list. Good luck! Call me when you are ready.
Author:Chris DeLoach Phone: 843-270-1272 Dated: April 30th 2018 Views: 18 About Chris: Serving Charleston buyers and sellers since 2001
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