In our current seller’s market, some areas are experiencing a rise in for sale by owner (FSBO) transfers.
NAR’s 2015 Profile of Homebuyers and Sellers revealed that the biggest reason a seller chooses to sell their home on their own is that they don’t want to pay the commission.
If you’re actively marketing FSBO’s and you know what the most common objection is, then you can go about addressing this. For real estate agents, it’s important to clearly communicate the value that you bring to the seller.
Here are some resources to help you highlight the many reasons a seller should work with a real estate agent:
This comprehensive list shows how the services that a real estate agent provides add up. If you don’t currently have something similar in your listing presentation, use this list as inspiration to create your own. Communicating the many things that you do is a great way to convey your value.
This resource from NAR can be downloaded as a handout.
A useful segment in this list from Keeping Current Matters, is that it can help you point out how your commission may pay for itself in the form of a higher selling price. According to the 2015 Home Buyers and Sellers Profile produced by NAR, FSBO’s typically sell at a lower median price than the median price of all home sales.
This includes numerous articles, resources, and information.
If you’re looking for active FSBO’s, this service scours the web and newspapers for listings and sends them to you in an email. This is a great time-saver for those dedicated to connecting with these sellers. They share this statistic on their site, “… 84% of FSBOs will list with an agent and 70% will list with the first agent who contacts them.”
We hope this information is useful to you when you are connecting with FSBO clients who could benefit from your assistance.
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This content is provided for informational purposes only and is not to be construed as legal, financial, or real estate advice.