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LESSON 3 Why people attempt to sell FSBO

Over the decades I have heard many reasons why a person would attempt to sell their property on their own. Yet as you will see their reasoning is often just a bluff to have agents go away.

These are actual quotes told to me by sellers.

  • The agent I used sold my house in a day and I believe they underpriced it.
  • The agent did not do anything.
  • I have an attorney, and she can do the paperwork.
  • I am in sales and can handle this.
  • I am the kind of person that wants to do things myself.
  • I have sold on my own many times, it was easy. (This is often before Zillow separated the FSBO from the MLS properties)
  • Homes around here sell fast.
  • I can’t afford the fee.
  • We are in no hurry.
  • I thought I would try it for a while on my own.

Zillow Is No Longer That Solution

We will cover more of this in a chapter about your listing interview, however it is extremely important to note that Zillow has separated the By Owner properties from the MLS properties. Years ago it was easy to sell on Zillow. As an investor my team often tried Zillow. Now things have changed since Zillow is no longer CO-mingling MLS and FSBO properties. Thus, Zillow has almost rendered the FSBO ineffective. However, many of them do not know this.

De-Coupling

That word sounds like what you would say when someone gets a divorce. Of course what it means in part is that agents can no longer advertise the PAYOUT to the buyer agents.

FSBOs were often already agreeing to pay 2-3% to a buyer’s agent. Now that will flip to the listing agent. The By Owner will list far sooner. It is incumbent upon you to convey the message and do it before the other 25 agents attempt it.

Your Role As The Guide For The Seller

Your role in their lives is to help them strategize on how to get the best exposure for their property to obtain their highest net. In the end, that is what most sellers want. Your interviewing skills need to convey that you know how to attract buyers, sell in a reasonable period of time, with as few bumps in the road as possible, and help them achieve their financial goals.

And of course, if the seller is offering concessions for the buyer or the buyer’s agent, you are there to show them how to structure those options. We will cover that topic in later lessons.

Lesson Quiz

  • Why is Zillow less effective than it was years ago?

    Zillow is no longer CO-mingling MLS and FSBO properties
  • What is the message you need to convey to the seller? You must be clear about it so you convey it clearly to the seller.

    That you know how to attract buyers, sell in a reasonable period of time