For sale by owner properties, or FSBOs, are notoriously difficult prospects to convert into a commissionable transaction. More often than not, real estate agents bypass these prospects completely, instead focusing on things like expired listings. After all, someone who believes they are better off without a real estate agent, may be a tough sell. However, FSBOs are an underserved niche that struggles to sell their homes under the conditions they envision. Specifically, FSBOs typically stay on the market longer and sell for less than homes represented by real estate agents. Let’s explore some of the reasons FSBOs are attractive prospects for agents and some tips on converting FSBOs into closed transactions. Why should I prospect FSBOs?
Tips for converting FSBOs
FSBOs are inarguably one of the most challenging types of prospects for agents to convert. However, if you take the time to truly understand the FSBO mindset and explain to them how exactly you are going to help them accomplish their goals, you just might get the chance to demonstrate why you are the best choice for them. What are some methods you use to convert FSBOs? Tell us in the comments!
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