5 Favorite FSBO Flips

Be prepared with these field-tested responses, and you won’t let a FSBO objection keep you from getting a listing.

1. If the FSBO says: “I’m sure I’ll get a buyer in no time. I’ve had the house on the market only one week, and I’ve already had three people come to see it.”

Counter with: “It’s great that you’ve had so much interest, but how many of those people have come back a second time? One of the problems with showing a house is that you get a lot of browsers who just like to see other people’s homes.”

2. If the FSBO says: “I can’t afford to pay a real estate commission. I need every cent I can get from the sale to put toward my new house.”

Counter with: “I know it’s important to have the biggest down payment possible. But a NATIONAL ASSOCIATION OF REALTORS® survey, the 2005 Profile of Home Buyers and Sellers, found that the median selling price of a FSBO home was $198,200 compared with $230,000 for agent-assisted home sales. So even with my commission, you’ll probably come out ahead. Other statistics from the survey that also might aid your argument: 39 percent of buyers

said the salesperson helped shorten the home search; 36 percent said the salespeople helped negotiate better contract terms; and 29 percent said the salesperson helped negotiate a better sales price.

3. If the FSBO says: “What do I need you for? I can put up a sign in my yard.”

Counter with: “It’s true that your sign will attract buyers, but many of them won’t be able to afford your home. When I get a call from a house sign, I can prequalify buyers. In addition, I won’t just put up a sign. I’ll actively market your listing, through the MLS and other means, to brokers who are already working with qualified buyers.”

4. If the FSBO says: “If I list my property, it will be with my friend who’s in real estate.”

Counter with: “It’s great to be loyal to your friends. But can you afford to list your property with a friend for 60 or 90 days and take the chance that it won’t sell? If you’re planning to buy another home, that’s a big gamble. Our company sells homes in your area fast. (Provide the number of days on market.) Also, I’ve found that when working with friends, it’s hard to fire them if they don’t perform.”

5. If the FSBO says: “I can do this myself.”

Counter with: “Of course, you’re smart enough to do what has to be done. But why spend all the time figuring out something you may not do more than a few times in your life? Let someone who has experience do the work for you.”

If you decide to try to sell on your own, I’ll be glad to give you a list of all the forms you’ll need. (Quantify the number of forms to demonstrate the sheer volume of paperwork involved in selling a home.)

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