When trying to get FSBOs to list with you, it’s critical you prove the value of your services to them, thereby justifying your commission in their eyes. One way you can do this is demonstrating your knowledge of the different types of buyers any seller faces. When they see you demonstrate your knowledge of buyers and your ability to handle each one effectively, they’ll see selling a home is easier said than done and you’ll be one step closer to getting the listing. Explain to them the four main types of home buyers:

First Time Buyers

People who have never bought a home before usually lack confidence in what they’re doing. Make sure you know the difference between buyer diffidence and buyers who aren’t serious! First time buyers need an experienced professional to hold their hand and guide them through the entire buying process. It’s very important you understand how to deal with these people as they almost always use a real estate professional. They probably have friends who have never bought a home before as well and don’t have a preferred sales professional to work with as many experienced buyers do, so first time buyers can be a prime source of referrals to qualified prospects.

Relocation Buyers

People moving from somewhere else (maybe nearby, maybe far away) are usually unfamiliar with local neighborhoods, culture, customs, and so on. So they have a real need for someone who is knowledgeable about the areas they’re considering moving to. So these people are great prospects because they almost always use a real estate professional. If you speak a second language, you’ll be very needed by someone who has recently immigrated to this country who speaks your second language but whose English is weak.

Move Up Buyers

These are people who already own a home but want something better and perhaps bigger. They’re usually very busy and don’t have time to drive through neighborhoods or sift through classified ads, so they rely on real estate professionals for finding what they want.

Investors And Bargain Hunters

These buyers are looking for a great deal. They’ve probably heard lots of stories about US properties being picked up for pennies on the dollar and flipped for major profits, so that’s what they’re looking for. Unlike home buyers, these people are buying properties strictly for making money and don’t get emotionally involved. So they should be negotiated with differently than normal home buyers. What FSBOs don’t realize is they will actually attract these types of buyers the most! Ask the FSBO if they’re prepared to deal with a regular stream of lowball offers.

Learn more about FSBOs and how to get their listing at my course Excelling In The Real Estate Profession. This course has been approved by the Registrar, REBBA 2002 to qualify for 9 credits.