FSBO. What an interesting term. Few acronyms carry the ability to cause such excitement, yet such dread at the same time.

Many agents dream of breaking into this niche that offers up such untapped potential. But it’s not long before a vast majority of them give up and write this off as “too hard” or a “closed market.”

Many agents will bail out. But there are a select few who persevere until they find just the right formula– And they’ll create a lot of income for themselves! Today, as more and more homeowners attempt to sell their homes themselves, the determined agent who breaks into this market will indeed reap quite a reward.

It’s encouraging that statistics show that 50-80% of FSBO’s give up after only 30 – 40 days on the market. Think about this for a second. You have at your disposal, a large group of individuals who have raised their hand and expressed their interest to sell their home! This is huge guys!

With this knowledge, it’s a wonder that so many agents give up so easily. Planes crash all the time, but does that mean the concept of flight is wrong? No! It simply means that something was faulty during that particular instance. The same can be said of most failed FSBO marketing plans. With a few tweaks or “repairs” the concept can definitely thrive.

I spoke with hundreds of agents across the U.S. and I have narrowed down some of the most common mistakes agents make when pursuing FSBO prospects:

Nobody likes to be told they’re wrong! That’s what an FSBO will likely think you’re saying if you call them up and immediately try to talk them out of selling their home themselves. It usually drives them to try that much harder to prove that it’s you who is wrong.

“I think I have a buyer for your house, do you mind if I bring them by to take a look?” The stink of a likely “bait and switch” will send your FSBO running! If you legitimately had a potential buyer, that’s fine. But how many times do you think this homeowner can hear this line, before they pick up on the fact that they are being “techniqued?” Avoid this approach like the plague.

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