I start my training at the beginning of next month. A few classes in the afternoons for 30 days. I know expireds are the best way to get listings. My question is should I spend any time chasing fsbo. Will it benefit it terms of knowledge and listings in the future? Or is it just a waste of time?

As a new agent you should consider all options to generate business. I have listed several fsbos. What I do is I will watch a fsbo. I will wait about three weeks after they have listed it as a fsbo then I will start working it. During the first three weeks they are either going to have alot of bites on it or are going to be discouraged at the feedback and that is when they are more acceptable to using a Realtor.

Fsbos are not a piece of cake. Most of them think that they know more than a Realtor and can do just as good as a Realtor, and then there are some that just aren't aware of how much work there is involved with selling your home.

If you limit your options to only working expired listings then you are limiting your potential income. You wont list every fsbo that you talk to, but you will learn valuable experience and get your name out there, it is all about building relationships and learning, why not start with a fsbo?

Dee Lewis
Realtor
Century 21 Premier
www.deelewisc21.com

FSBOS?

FSBO? For Sale By Owner

The biggest challenge typically for a new agent is generating leads and then converting them to a sale. I would suggest seeking out a mentor and surround yourself with successful agents. Maybe consider joining a team that will provide you leads to work the biz.

I just signed with coldwell banker on thursday. They have a mentor I have to work with for 30 days.

I wouldn't join a team yet. I would just work with a mentor and get all the help you can from them. If you join a team you have to split your pay and as a new agent pay days are far and few between... I wouldn't do that, that is a sure way to put you out of business in a hurry unless you have a team that is selling alot of houses.

The best way to generate leads is to get listings... with each listing you should be able to convert three new pieces of business.


Dee Lewis
Realtor
Century 21 Premier
www.deelewisc21.com

What I don't understand is..

Who is appointed to certain listings.

For example:

House #1 valued at $1 Million
House #2 valued at $500k
House #3 valued at $250k

Who is entitled to the listings?

Why Agent #1 and not Agent #2?

What about NEWLY built houses with no owners. Is that considered a FSBO listing? Which agent will sell this NEWLY built house? [again, who is appointed and why?]

I'm not understanding what you are asking - no one appoints an Agent listings, you are an independent contractor and it is up to you to get your own listings. Newly built houses do have owners, they are owned by whomever built them. Many builders do list with RE Agents, many sell them on their own but will offer a commission to Buyer Agents.

Both of them, expired and FSBO are difficult to do. You won't be the only agent contacting them, so you should have a plane to follow them up. The most important, don't take it personally, if you don't get the listing.

Yes, I think you will learn tons going after FSBO's as a newbie. There are a lot of ways to engage the FSBO. Personally, I believe in the old fashion way of introducing yourself as an agent in the area and you would like to preview the home for possible buyers. Of course, don't lie to get a bogus appointment. Just get in and start building rapport. Ask plenty of questions and find out how you can provide service. If you follow up, you will put yourself in a great position to be considered the agent of choice "when" they decide to list. Best of luck to you!

very good questions.

In the REO (foreclosure) business, agents are appointed by the banks that own the properties. A particular agent often gets the listing by giving the highest valuation on the home.

the owner of the home decides who is entitled to get the listing.

there aren't many newly built homes that have no owner. no, a FSBO by definition has an owner. with no owner, it would be called a "FSBN" (For Sale By Nobody).

Somebody or entity owns property. Your job is then to find the owner and present you case to list it. Thats the tricky part in this business.

That is so CRUEL. Good; but CRUEL. "Nobody" (if that's his real name) can't sign a Listing Contract ! He's got no body. You can't have a Contract with him/her/it !

So much for "Entitlements" !