Have you ever called on a FSBO (For Sale by Owner?) If you're like most agents, you'd rather have a root canal than face these sometimes angry, independent, and often over-priced sellers. Nevertheless, FSBOs are one of the three best sources of "right now" business (the other two are expired listings and referrals). If you would like to make FSBO's a niche in your business, the "Oh by the way" strategy is a great way to start.

First, approximately 80% of the FSBOs do ultimately list their property. Your goal is to be there when they make that decision. Here's how it works.

1. Begin by identifying FSBOs from yard signs, newspaper advertisements, or through buyer agents who have advertised a property as being available although not "listed." (Remember, it violates the Code of Ethics to call on a property where there is a valid listing agreement.)

2. Determine the names of the owners via the title company or through public records.

3. Contact the FSBO by telephone using the following script.

Good afternoon, my name is _____ with ____Realty Company. Are you the person who has your property listed "For Sale by Owner?" (Wait for response. If "yes," continue,)

As a real estate professional working in this area, it's important for me to see all properties that come on the market so I can provide complete and accurate information for my clients. I was wondering if it would be possible to preview your property at a time that would be convenient for you. (DO NOT SAY YOU HAVE A BUYER FOR THE PROPERTY, EVEN IF YOU DO!)

If the answer is "yes," schedule the appointment. If the answer is "No" or the seller says, "You're just trying to get the listing," Respond by saying:

"I promise I'll never ask you for the listing on your home." If the answer is still "No," go on to your next lead. If the answer is "Yes," schedule the appointment.

4. Meet the Seller at the property and thank them for the opportunity to view their home. As you walk through the property, take notes. DO NOT discuss their listing price. When finished, thank them again and as you step out the door, turn and say, "Oh, by the way... ." And offer them one of the items from your "Oh by the way kit."

Some items you can include in your personal "Oh by the way kit" include:

• A list of required disclosure statements (but not the actual disclosure statements. You could be violating Board Rules and/or creating an agency relationship).
• List of required documentation to close a transaction including Federal and State environmental hazards materials.
• Complimentary "Open House" or "For Sale by Owner" signs. (Remember, many FISBOs are trying to save money). The key is to have the sign company paint the following information on the back of the sign so buyers see it when they are leaving the property. "Compliments of Ann Agent, XYZ Realty, 555-888-1234."
• Guidelines for qualifying buyers.
• Tips for getting your home ready for market
• Open House Guest Register
• Relocation information if they're moving outside your local area.

5. If the Seller questions why you're being so nice, reply by saying: "I know you're going to sell your home yourself. I work by referral and what I would like to do is to earn the right to receive any referral business you might have." (The agent who pioneered this technique actually was collecting 15 open house registers per week from her FSBOs).

6. Continue using the "oh by the ways" to see them on a regular basis. Follow-up until they sell the property, take it off the market, or list with you.

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Bernice Ross, Ph.D. and Byron Van Arsdale own and operate www.RealEstateCoach.com, the most comprehensive source for training and coaching via telephone in the real estate industry. If you enjoyed this article, sign up for our complimentary newsletter, Real Clues on our web site at www.RealEstateCoach.com. While you're visiting our site, check out our training and coaching programs as well as over 200 pages of ideas on how to have a great life and a great business.

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