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#62099 - 12/02/05 09:27 AM Free FSBO Services
Jamessells Offline
Member

Registered: 06/07/05
Posts: 16
Loc: Easton PA
I realize that the entire concept of this is counter intuitive, but I have seen it so
I am curious is has worked for anyone or if they have used it?

I have seen at least one a agent(and now I cant find his site) offer a free listing to FSBO's on his website,, I can see the +/- of this ,,,but I am new so everyone else’s opinion would be appreciated
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Austin Real Estate

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#62100 - 12/02/05 03:04 PM Re: Free FSBO Services
doug Offline

Admin
Veteran Member

Registered: 12/31/69
Posts: 971
Loc: Canada
Years ago I thought of trying it myself and when I ran the idea past my Broker, he was concerned that there could be liability in spite of having disclaimers.

It may be because of the particular laws that governs the industry in my area and it may differ elsewhere as some agents on the web do promote fsbos and their Brokers do not have a problem with it.

Later on, I came to think having FSBOs on my site was not such a good idea after all as it then took away one of my listing benefits. When you are at the the top of the search engines there is a definate benefit with listing with you - why give it away?
_________________________
For the non-do-it-yourselfer! Proven effective managed Promotional System / Websites for Realtors - Some areas available that offer some pre-existing top 10 search engine positions!


18 years as a practitioner of SEO. Visit my Realtor websites blog for maintaining a successful online presence.

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#62101 - 12/10/05 03:33 AM Re: Free FSBO Services
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
I do it and it works for me.

I have my FSBOs in a section of my website that is not a prominently featured as my listings.
_________________________
Jim Lee, REALTOR®, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

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#62102 - 12/10/05 06:54 AM Re: Free FSBO Services
altarealtor Offline
Member

Registered: 01/09/05
Posts: 390
I think that it adds a great perspective to your business. You need to be firm in your requirements when dealing with FSBOs, but they are a viable source of income. Sharing exposure through your site is great upfront value when it comes time to hammer down a listing.

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#62103 - 12/10/05 11:08 AM Re: Free FSBO Services
doug Offline

Admin
Veteran Member

Registered: 12/31/69
Posts: 971
Loc: Canada
I understand the thought process and have heard the seminars on helping FSBOs sell and they may list with you when the time comes. It all sounds good but the reality is that you "help" the FSBO market their home - and it doesn't sell when they decide to list they don't choose you because you have already proven to them that you couldn't get the job done.

If you advertise a FSBO on your site for a while and it doesn't sell - you probably have eliminated your website as a benefit to the FSBO. When the time comes to list with an agent, telling them that one of the things you can provide them with is excellent internet exposure will probably elicit the response "So what - we tried that already and it didn't work."

So, if the FSBO does sell as a result of being on your site you get nothing and if it doesn't sell as a result you don't get anything either.

Probably better to "save yourself for marriage" \:\)

Having said that, Jim does save some benefit for listing by providing less exposure for the FSBO than he would for his own listings and if you are going to try giving FSBOs free service on your site then Jim's way would be the way to go.
_________________________
For the non-do-it-yourselfer! Proven effective managed Promotional System / Websites for Realtors - Some areas available that offer some pre-existing top 10 search engine positions!


18 years as a practitioner of SEO. Visit my Realtor websites blog for maintaining a successful online presence.

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#62104 - 12/10/05 03:48 PM Re: Free FSBO Services
altarealtor Offline
Member

Registered: 01/09/05
Posts: 390
There's a slight variation on how you 'market' the FSBO. The prospective purchaser contacts you, not the owner. Now negotiations are at hand.

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#62105 - 01/10/06 08:26 AM Re: Free FSBO Services
EXIT-MAN Offline
Member

Registered: 01/09/06
Posts: 11
Loc: Irving, Texas
FREE FSBO EXPOSURE is a great source for leads, if you happen to be the "contact" person. The FSBO may be willing to pay you a commission for bringing them "Qualified Buyer", that should be determined when you list it. In either case,the individual calling about the FSBO is a hot lead, if the FSBO doesn't work out try and show them other properties in the area. The main purpose of your website is solicit your services and generate leads.
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Diego Marin
EXIT Advantage Realty
972-877-0835 cell
"Real Estate...Re-Invented"
www.DiegoMarinRES.com

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#62106 - 01/10/06 07:16 PM Re: Free FSBO Services
Sheldon Johnston Offline
Member

Registered: 10/11/05
Posts: 428
Loc: Edmonton, Alberta, Canada
I'm against the idea and yet see some merits.

I might do it if they agree to enter into a buyers representation agreement.

Now if the leads contact you directly then there are other options you can work with or deal off of.

The thought a a buyer being pissed at a seller about a representation that seen something on my site then negotiated for us to represent them and later included us in a lawsuit is a deterent here for me.
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Sheldon Johnston
Coldwell Banker Johnston

www.edmonton-homes.ca

Blog http://www.edmontonrealestateblog.com/

Edmonton, Alberta

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#62107 - 01/10/06 07:47 PM Re: Free FSBO Services
Sheldon Johnston Offline
Member

Registered: 10/11/05
Posts: 428
Loc: Edmonton, Alberta, Canada
sorry about the brain cramp above. Multi tasking kills.

the crux of it is I don't want to be liable for some material on my website that I really don't have the ability to verify.


James I'm not sure why you mark the fsbo's sold it kind of shows that they don't need your primary service.

How many leads do you get or what type of gci does this bring in bring in for you?
_________________________
Sheldon Johnston
Coldwell Banker Johnston

www.edmonton-homes.ca

Blog http://www.edmontonrealestateblog.com/

Edmonton, Alberta

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#62108 - 01/11/06 04:31 AM Re: Free FSBO Services
Jim Lee Offline
Major Contributor

Registered: 07/01/99
Posts: 4785
Loc: Knoxville, Tennessee, Knox Cou...
 Quote:
Originally posted by sheldonj:
the crux of it is I don't want to be liable for some material on my website that I really don't have the ability to verify.

James I'm not sure why you mark the fsbo's sold it kind of shows that they don't need your primary service.
I believe the disclaimer that appears by each FSBO would protect me from most liability at least that's what my attorney tells me.

I mark the FSBOs on my website as SOLD because I believe it's naive to give the impression that FSBO's don't ever sell because I'm sure we all know they do as do buyers and other FSBOs. It also gives the little darlings hope they can sell on their own if only they have a free link on my website. I find that gets me many more hopeful FSBO contacts that call or e mail me

HOWEVER on the 2 currently marked as sold I am able to tell other FSBOs that I sold the same model of the one that was listed for $192,900 for $222,500 2 months later and in the same neighborhood so who actually 'saved' the commission there???

The one below FSBOed for $119,000 was bought by a local investor for $105,000 and subsequently lease purchased for $136,000.

I think both are great example of how you can actually lose real money by trying to save that 7 or 8% commission and not using a professional to expose your home to many more buyers which logic should tell you will create more interest which translates to a higher sale price.

I'm always sure to point out these facts when Mr. FSBO contacts me wanting to get a 'free' listing.

If you notice where the FSBO homes are actually displayed on my website they're not in as prominent a position as my listings which have their own link as "Featured Homes", you actually have to work to find them. My experience has been that most people that even bother to look at the FSBO section are other Realtors and curious FSBOs.

This section of my website is usually responsible for 5-10 sales a year either as a sale of a FSBO I'm aware of or one that ends up listing with me and is ultimately sold by me or another Realtor.
_________________________
Jim Lee, REALTOR®, CRS, ABR, e-PRO
[url=www.KnoxvilleHomeCenter.com]www.KnoxvilleHomeCenter.com[/url]
[url=www.KnoxvilleTennesseeRealEstateBlog.com]www.KnoxvilleTennesseeRealEstateBlog.com[/url]
I am not an attorney & I am not giving you any legal advice.

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#62109 - 01/12/06 10:56 AM Re: Free FSBO Services
Sheldon Johnston Offline
Member

Registered: 10/11/05
Posts: 428
Loc: Edmonton, Alberta, Canada
good info. Thanks.
_________________________
Sheldon Johnston
Coldwell Banker Johnston

www.edmonton-homes.ca

Blog http://www.edmontonrealestateblog.com/

Edmonton, Alberta

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