Earlier this week we took at a look at what influences a homeowner to list For Sale By Owner.  The reasons listed for example were:  Home Value, Sticker Shock, Anti-Agent, Seen Success and Catered Tools.  Now imagine you came across a seller who was considering listing FSBO and their reason for doing so was one of these.  How would you respond? As with any listing presentation, it is important to listen to your prospective client’s ideas, wants and needs.  Get to know them, their home, and their situation.  And then share with them how you, as their agent, will use your industry knowledge, skills and experience to meet and surpass their needs and expectations.  Let’s take a look at how to address the reasons listed above:

What makes a seller put up that For Sale By Owner sign rather than call their local real estate agent?  Okay, we all know why homeowners list their own home – to save money.  But, let’s go one step further and take a look at what makes a homeowner believe they can (or believe they need to) save money by listing their own home.

What are your thoughts when you pass by a For Sale By Owner sign?  Surprised, stunned, curious?  Or are you so used to seeing For Sale By Owner listings that that you don’t even notice them any more? In 2010, FSBO sales accounted for 9% of all homes sales in the country – meaning roughly 1 in 10 homes on the market were listed by owner.  And due to the current housing market, as well as the many tools and services marketed towards FSBOs, more and more sellers are considering listing their home themselves. What does this mean for agents?  Well, first off, it means increased competition.  When you go on a listing presentation you are not only competing against other agents, you are also competing with the seller.  And, on the other hand, it also means more opportunity.  Many homeowners are unsuccessful when it comes to selling their own house and are in need of an experienced agent who can help them list, market, and sell their home.     With this increase in competition and opportunity, it is important for agents to not only notice those For Sale By Owner signs, but to also educate themselves on the FSBO market.

This is the final entry in our three-part series Millennials:  The Next Generation of Home Buyers. 

This is part two of a three-part series Millennials:  The Next Generation of Home Buyers