Inside the Mind of a FSBO | Real Agent Pro - The Caruana Group
A home owner stands to make thousands of dollars if they can correctly sell their property without a real estate agent. This prospect is very appealing to sellers and one of the main reasons that sellers make their homes for sale by owner (FSBO). With an increasing number of modern real-estate transactions taking place online, it’s easy for many sellers to determine that they don’t need an agent to sell their house. While it is very possible for FSBO sellers to be successful, the quality and efficiency an agent can bring is what convinces a seller to give an agent their business. By exploring the FSBO mindset and the struggles they face, we can gain a better understanding of what agents need to do to earn their business.
Never tell me the odds
The primary reason a seller attempts to enter the real estate market on their own is because by not having to pay an agent a 6% commission, they stand pocket more money. Selling a home on their own means that the seller forgoes the risk of an agent who doesn’t share their goals and undermines the value of their home for the sake of making a quicker sale. The elimination of conflicting motivations and the potential for more money in the seller’s pockets is very tempting. Furthermore, with the internet’s multiple online real-estate listing platforms, and plenty of sites containing guides on how to sell on their own, it is possible to avoid investing in an agent all together. However, it is easy to underestimate just how difficult selling a home on your own can be. While the concept of listing their house online, placing a FSBO sign in the yard, and showing to the property to buyers seems straight forward, there are a lot of hiccups a seller can run into.
Selling a Home is a Full Time Job
There are many reasons a property FSBO sits on the market for an extended period of time. For example, poor marketing combined with a weak listing site makes it almost impossible for potential buyer to know the property even exists. Additionally, if the home is inappropriately priced, buyers can be turned away before they even see the house. For those that do make it to a showing, the seller can struggle with criticism and feel that the buyers aim to undermine the value of the home. Remember, the seller behind a FSBO property is not a realtor. All this chaos is taking place and the seller still has their own job to attend to. A lot of people don’t have the time to manage the selling of a house, resulting in many properties being sold undervalue after sitting on the market for weeks. What’s the best way for a seller to achieve the organization and control they need to get the most value from tier home? That’s where agents come in.
Agent Efficiency
As an agent, you can provide many services that are otherwise an extremely time-consuming hassle for sellers, especially those that aren’t rehearsed in the ways of the real estate industry. With an extensive background on the details of real estate, an agent provides proficiency when it comes to handling sales and marking duties. Knowing the latest marketing trends, being up to date on consumer spending habits, and exclusive access to multiple listing services, are all complex tools an agent possesses over FSBO sellers. Agents also have more experience and time dedicated to fielding calls and screening potential buyers. Determining who is worth showing the house to, who will actually attend a showing, and have the flexibility to show the house when it is most convenient for the buyers, something the owner may not be able to accommodate for. As a deal comes to fruition, agents know what professionals to hire, such as real estate attorneys to review contracts and, appraisers and contractors to make any necessary home repairs. Ultimately, an agent’s ability to juggle all the complexities of selling a home and the potential time and money that can save a seller, is what you need to leverage when trying to convince a FSBO seller to hire you.
In conclusion, while a home owner does stand to save a sizable amount of money if they can sell their house correctly, the reality of doing so is extremely difficult. Most property owners turn to a real estate agent when they need to sell their home, because doing so often provides the best value for sellers. The complexities of selling a home can often be too great for an un experienced seller and while it is possible for owners to sell their home on their own, doing so without the proper experience and knowledge can leave a property to stagnate and depreciate. While it may take some individuals longer than others to accept the challenges a home FSBO presents, being patient and providing proof of your quality is what is needed to earn the business of a FSBO seller.
For more tips on how to earn the business of a property FSBO, head over to Real Agent Pro to stay updated on our educational content. Check out and follow our social media, subscribe to our YouTube channel, and visit our Facebook page to register for our weekly webinars every Thursday. Interested in a more personal approach? Go to www.10xmylisting.com to schedule a one-on-one strategy session. If you have any questions or want to learn more, be sure to get in touch with one of our agents.