I was driving around and spotted some FSBO'S I want to work on. Can someone explain the best approach on these. I would like to just do a doorbell ring and give them a CMA but I dont know much about the house, should I still just print out some houses in the neighbor hood that have been on the market and give it to them. Should I call if i can find there number is not on the "no call list" Also what are the chances of them actually listing with me. They welcome buyers agents to show the house but refuse to have one sell there home? What are some good angles of approaching and how would most of you handle it.

Instead of doing a full CMA you should instead do a market data report. This is simply a list of all homes that sold in their neighborhood in the last 6 months and a listing of active listings in the neighborhood. At the end include a summary price range of solds and active listings. Also give the sellers a few checklists of curb appeal and upgrades that will add the most value to their property. Ask them if they would like you to do a full CMA on their property. If they do ask when you can come back to take some measurements(always comeback instead of doing the measurements on the spot. When you get the measurements take a couple of days to do a CMA and then call the sellers back and make an appointment to drop off the CMA and answer any questions they may have.

Just go up and knock on the door; FSBOs hardly ever bite. Watch for growling, barking, wagging tails and other behavior signals to determine their mood.

It doesn't matter if their number is on the very misunderstood "do not call" list or not; they are advertising for people to call and buy their house.

From NAR:
"NAR does not see any problem with a buyer's representative contacting a FSBO owner whose number is listed in the Do-Not-Call registry about a client's potential interest in the property, as this call is not a telephone solicitation by the buyer's representative."

Ask them if you can preview their home because you work with lots of buyers in that price range and you would like to be able to show it.

You can list most FSBOs eventually but you need to make that initial contact and then stay in touch.

BTW, they're probably not going to run out and flag you down when you drive by. Put on your brakes, stop your car, and get out of it.

I do a alot of FSBO's, they don't bite. Be persistent every week or so. Just talk with them.
You will be surprised how easy this works..

Alright I have a list of FSBO's I just need to think of some reasons/ideas of why im calling.

Realest8t54
Where did you get your FSBO's list. Did you have to pay for it?

You're making this out to be more complex than it is. Just start contacting them and see what happens. Stop analyzing and go take action.

Here's a good source.

http://www.wbyowner.com/

Delivered to your e mail every day AND scrubbed against the "Do Not Call" list for a mere 39 bucks a month.

I suggest telling them you have a Buyer. Mention a name and general information about the buyer and say that they want to take a look. Once inside, tell them you have a few other people that would be interested. Once you shoot the breeze for awhile, ask them if they want to list. If they say they want you to bring a buyer first, tell them this would not be fair to your other clients who have their homes listed.

wamzy,
That is the worst advice I have heard. What a way to attempt to start of a relationship with a potential client, Lie to them.

DO NOT tell the seller you have a specific buyer if that buyer does not exist! If you do have a real buyer then attempt to get a one time showing for 3 or 3.5%. If you want to just preview the house then do so and ask about a one time show should you have a buyer. If you keep in touch with the seller you may eventually get the listing without having to Lie to the sellers!

Do you always conduct yourself so ethically?

I agree with Paul,don't lie. If your working with buyer's presently you can say you have buyer's interested in homes in that area. That is much better than saying you have a buyer.

Also, you don't need a list of FSBO's....why does everybody want a list of sorts...?

Fill up your gas tank and take a drive, you will be surprised what you will find. That's your list!

Yeah, it's much more time efficient to spend the day driving all over looking for FSBOs under rocks than getting an e mail list every morning. NOT. :p

Thats how I got my list, but its not much of a list, about five or so but better than nothin. I just drove around my area and found em, the problem is im sure other agents have already worked on these FSBO's. So now i just need to keep my eyes pealed for new FSBO'S.

Warnock's "By Owner" compiles a list of new FSBOs the first time their ads run in your local paper.

http://www.wbyowner.com/

Delivered to your e mail every day AND scrubbed against the "Do Not Call" list for a mere 39 bucks a month.

Farm from the comfort of your office and save the 39 bucks worth of gas you'll spend driving around aimlessly.

Agree that a list will work and depending on your area that may be more time efficient.

But many FSBO's that I have listed like the ambitious types who go out and get business, find the business. Not like the one's who are to chicken to pull up outfront and go knock at the door. I prefer face to face over the phone and a list any day.