BrokerageIndustry News

Real estate agents convert FSBOs into signed listings

Web service implements 'permission marketing' strategy

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Scared of prospecting FSBOs? Now there's an easy way to turn that reluctant FSBO into a satisfied customer. According to NAR's Profile of Homebuyers and Sellers in 2003, only 14 percent of home sellers actually sold their homes without the help of a real estate professional. This represents a 30 percent decline over the last two years in the number of people successfully selling their home "by owner." There are many reasons FSBOs do not succeed without an agent. Some simply price their property too high. Almost none have the resources and sophistication to obtain a top search-engine placement. Few know about virtual tours or how to import them to a Web site. Thus, the FSBO is left with newspaper advertising and a sign. At best, these two strategies reach less than 20 percent of all potential buyers. Granted, some FSBO companies will place the seller's listing on the Multiple Listing Service through an IDX or VOW agreement, but agents are often reluctant to show these homes. FSBOs who...