The Benefits of Networking with FSBOs in Your Area

Networking with FSBO's is one of the best ways to generate new business, referrals and relationships. While many agents are against helping FSBO's, like anything in life - you get out what you put in. You will always win in business if you approach prospecting new clients with a focus on making real connections. We will discuss a few reasons why you should consider getting to know FSBO's in your local market.

Building Relationships for Future Business

While it's true that FSBO's may not need an agent to sell their home, they may need one for their upcoming home purchase. By building a relationship with FSBO's, you can position yourself as a trusted resource for their next real estate transaction. This can lead to repeat business and referrals down the line.

Getting Referrals from FSBO's

Even if you don't get paid to sell their house, networking with FSBO's can still be beneficial. They may have friends or family members who are in the market to buy or sell a home. By building a relationship with FSBO's, you can position yourself as the go-to agent for their referrals.

One tip that a successful agent is deploying is by letting FSBO's know that they will help them by qualifying any interested buyer in their home for free. FSBO's know that qualifying buyers can be tricky and the last thing they want to do is tie up the property with an unqualified buyer or inexperienced agent. By qualifying prospective buyers for FSBO's, you bring them value and can generate new buyer leads of your own.

Holding an Open House for Them

As an agent, you have access to resources and marketing materials that FSBO's may not have. Offer to hold an open house for them, you can help attract potential buyers to their property but also meet more of their neighbors and other potential buyers who you can assist in purchasing other properties. Most FSBO's are actually willing to offer a buyers agent a commission so by positioning yourself this way you could potentially get compensated for procuring a buyer for the home.

Creating a Positive Reputation

Networking with FSBO's can also help you create a positive reputation in your local market. By offering assistance and building relationships, you can position yourself as a knowledgeable and helpful agent. While the FSBO may not pay or list with you, they are highly likely to talk to the neighbors about how helpful you were and give an endorsement like, "While I chose to not go with an agent, {agent name} was super helpful and sharp. I would have used them if I did end up listing with an agent. You should give them a call". This happens all the time.

This can lead to more business in the future and help you stand out from the competition.