When working with FSBO’s, you HAVE to be committed for the long term! Learn to love the process because FSBO’s will list with the first agent who shows value in paying a commission. They face many obstacles like unqualified buyers, bargain hunters, lack of negotiating skills, and liability.

Best Practices for Working with FSBO’s

To earn the business of FBSO, let’s look at some best practices:

• Be consistent
• Communication Plan – a MUST
• Put them on a “Buyer Inventory List” – List of homes in the area that aren’t on the MLS (to be on this list, they must provide you their email, and let you know if the home has a price change or sells)
• If you can, try to preview the home so you can get a feel for the flow in case you come across a buyer (pictures can lie)
• Do not tell them you have a Buyer unless you actually do!

Communicating with FSBO’s

When communicating with FSBO’s, what’s your plan? Here’s one plan that might work for you:

• Make initial phone call
• Send an IOV (item of value) – This could be one of many things like information on staging, safety tips for FSBO’s, or ways to see if a Buyer is qualified
• Call
• Send IOV
• Call

Another tip is to go to FSBO open houses. Give them your business card and just talk with them. Learn more about them and their situation, but don’t be a hard sell. Follow up with a phone call the following Monday to see how their open house went and start communication from there. 

You’re probably asking where to find FSBO’s and that’s a great question. Zillow is a great option, but you can also invest in a dialing system at some point. There are many to choose from at different price points.

Whatever communication plan you do choose to implement, make sure to keep track of your communication and stick with it! You must be of value in the eyes of a seller to earn their business. Have confidence in yourself, know your numbers and keep FSBO’s in the executive seat. 

If you’d like more tips and tricks on how to earn the business of FSBO’s, we can help!