"For Sale By Owners," (FSBO) are an excellent way to generate buyer and seller leads. Most FSBOs are selling their houses themselves because they want to save on part of the commission. What they do not realize is the amount of time, money and knowledge necessary to sell their home, as well as the liability involved if they should make a mistake.
A recent study showed that although homeowners started with the intention of selling their house on their own without the services of a real estate agent, 92% of the time an agent was involved. Therefore, it is important to develop a relationship with FSBOs and have them perceive you as a trusted ally.

Step 1

Many members begin by introducing themselves to FSBOs either by phone, letter, or just stopping by let them know about a new technology that they possess that will allow an agent to provide 24 hour verbal and faxed information on their property and follow up on every call whether the caller leaves their number or not.
Once you demonstrate the technology to the seller and he realizes that you can outperform any other agent, you often get the listing.

Step 2

Explain to the seller the time, money and advertising necessary to sell their house at the highest possible price and give him a pre-listing checklist and page list of everything involved in selling a property.

Step 3

Offer another idea. At no cost to the seller, provide him a sign rider with a toll free number on it. Any time a buyer calls, the buyer can receive verbal and faxed information on his property, can call him directly, or leave him a message. As a courtesy, you will even have your lender automatically pre-qualify all the buyers who call so he is not wasting his time showing his house to buyers who can´t afford it.
Ask simply if you first try to steer the buyers to his property and they are not interested, that you be allowed to represent them somewhere else. Also, request the seller let you exclusively represent them on the purchase of their next home, on which they won´t pay commission.