50 Ways to Riches in Real Estate
#5 - FSBO's
For Sale By Owner listings are commonly known as "FSBO's" . Fsbo's can be an incredible asset to leads and income. The first thing is to Introduce yourself to the folks that are selling the place. This can be tricky as others are likely doing the same thing and the property owners might not be receptive to the solicitation. You'll have to find various workarounds for this situation.
There is also an intent that should be conveyed, it may be that the property owners have been approached by other agents to list their home for them. This is likely, in fact. So you might try a different approach and ask where they are moving to. If it turns out they are moving out of the area, perhaps a referral can be had by a simple, "Oh! I know a realtor in that area!". If they respond favorably, then Do The Diligence and find them an agent in the area they are going to.
Don't just find them any Agent, find one that really is experienced and knows what they are doing. One that is professional in their dealings and will take great care of the folks you send their way. Why take the extra effort to do this research? Because ultimately it will reflect on You since you made the referral.
This also can create a situation where the referral comes back to you. This happens when the agent you took the time to vet, does a great job and finds a home that the FSBO owners absolutely must have. But they haven't sold their FSBO yet. The agent says; "Hey, you should have that agent that referred you to me List it for you, they were real go-getters and checked me out and everything before they referred me to you. I'd bet they can move it quickly and we can get you into this wonderful dream home!"
FSBO's are already moving, you might not be able to get the listings, at first, but just because they are doing it on their own, doesn't mean that they (and you) still can't benefit from your skill, expertise, and knowledge.
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