BrokerageIndustry News

Savvy agents tap softening for-sale-by-owner market

Declining Web traffic yields opportunity to boost biz

According to Alexa.com, Web traffic at ForSalebyOwner.com is down substantially since 2005. Given the shifts in the market, now may be the best time ever to start prospecting for-sale-by-owners, or FSBOs. While Web leads may take months or even years to develop, there are few resources better than expired listings, referrals and FSBOs for "right now" business. When markets are strong, we see more discounting and more people selling their properties without representation. When markets soften, however, the number of expired listings increases while the number of FSBOs generally decreases. The Web creates an interesting marketing challenge, not only for FSBOs, but for all advertisers as well. There are so many places where you can market property that it is hard to know where is the best place to advertise. Furthermore, according to a recent survey by the California Association of Realtors, the number one reason visitors go to a real estate company or agent Web site is to have access to...