By Jeremy Kritt, Licensed Real Estate Agent and Realtor
There is more to it than meets the eye. I come across for For Sale By Owners or FSBOs as we like to call them in the real estate industry almost every day, and it never ceases to amaze me by how truly motivated FSBOs go about it the wrong way. I talk with these good people and see them virtually flushing their hard earned money down the toilet. They often do not take into account the opportunity costs and actual costs of time and other resources to actually sell real estate profitably when they do not hire a real estate professional.
Some people think in the age of Zillow the real estate agent would become obsolete, but as many FSBOs quickly find out the hard way, selling real estate is more than posting an ad on the Internet with some nice pictures. The vast majority do not understand that you need sales skills which is an entire specialized and complicated practice that should be handled by a professional when large assets or sums of money are involved. There are so many misconceptions about what selling a house entails because it is not just about selling but also getting more than what your house is worth in order to maximize the amount of money in the sellers pocket.
In this blog post, I would like to share with you a distinction I use as a framework when deciding whether or not I want to offer my services to a FSBO so they can successfully sell their house and get more than what it is worth to walk away with more cash.
True Sellers or Gamblers OR THE CONFUSED
There are fundamentally three types of FSBOs: true sellers, gamblers, and the confused. So let's get into it.
True sellers are people who are motivated to sell their house for a good reason. They want to move or have already moved to another residence. However, some times there are cases in which it is about moving the equity from a rental property or other form of real estate holding and reallocating it for other purposes. Maybe there was a job transfer or a layoff. Perhaps parents want to put their kids in another school district, upgrade, downsize, and the list goes. The point is there is a real reason to sell the house. These are the people who really need the help of a real estate professional.
Gambler FSBOs is my expression for owners selling the house on their own but lack the defining characteristic of a true seller. Owners in this category are basically playing the slots with their house. They are either seeing whether a buyer in the market will be dumb enough to buy their house for an unrealistic price that nobody will pay or just playing real estate agent to see if people like their home. These people are not really serious. Gambler are hopeless. Not only will nobody but their house, but these owners unfortunately often think they actually will.
The confused FSBO has a touch of true seller and gambler. They may have a need to sell their house, but they also do not understand how the real estate market works. They often do not realize that there is tons of competition which leads to them to incorrectly determining their house's value. Frequently the confused also are blinded by greed and do not understand that the market does not care about their opinion of value.
Which FSBO do I help?
The psychology of FSBOs can be frustrating for genuine and authentic professional real estate salespersons. The desire to offer professional services that will clearly help the FSBO is often tempered by the possible reality of unpleasant dialogues that commonly take place between the honest agent and the owner. As a professional real estate salesperson my goal is to help true sellers actually sell their house and receive more money by using my proven strategies and techniques for selling homes which virtually guarantees FSBOs of actually selling their house and making more money than they would any other way.
The reality is that I can only help true sellers. They need to be sane and nice people. If you are selling your home for sale by owner, I invite you to get in touch with me. I will ask to meet with you either in your home or my office to give you a presentation that will show you how I do business completely differently than all other real estate agents in helping FSBOs get what they deserve.
At this time, I am only help FSBOs in Austin, Round Rock, Georgetown, Cedar Park, and Leander. If you have tried to go it alone and feeling frustrated, get in touch with me. I will present my plan to you with no pressure. I am very selective with FSBOs I take on. I have to be certain that they are true sellers and will follow my plan that is a recipe for success.
If you are a true seller FSBO that needs help, call me at 512 808 3033. No pressure. I will give you a 15 minute presentation that will show you how I do business differently than all other realtors. If you are not interested, we part ways. Simple as that!