- Make a timeline
Make a time line with a deadline for when you’re going to find a Real Estate agent. It can be 2 weeks 30 days, 45 days or 60 days.
- Have Agent interviews one week before your deadline.
A lot of For Sale By Owners don’t know what an agent interview is. So i’ll explain, an agent interview (Listing Presentation) is when an agent meets with you and recommends a listing price for your home and presents his/her marketing plan. It’s almost similar to you going to a job interview with your resume and explaining why you would be the right person for the job.
- Interview with up to three agents
The first agent is possibly someone that was recommended to you by a coworker, family friend or neighbor.
The second agent is someone that you found on your own or is a top agent in your area.
The third agent is completely new to the business and someone you would have never considered before. Why? The first agent that was recommended to you; you two don’t connect well. The second agent is a top agent in the area and it’s all about the numbers and results, no real customer service. The third agent is promising top notch customer service, results, and you feel really good about he/she, but they’re new. You have to decide, what is really important to you?
- The price you had your listed for when you were a For Sale By Owner (FSBO), may not be in line with the current market. Expect a price adjustment so your home can be priced according to the market and priced competitively.
- Don’t feel like you let yourself down because you didn’t sell your home yourself. 90% of FSBO list with an agent in 30 days; of the 10%, 50% of the deals don’t close. 88% of active buyers in the market have a Real Estate Agent (Realtor.com 2016) These numbers are not to discourage you. We all want to do things on our own such as complete our own surgery at the doctors office. But we all we seek professional assistance to get the results that we want in the time that we need.
I was in line at Chipotle when I over heard two gentlemen talk about how one received many phone calls from Real Estate agents, when he was a For Sale By Owner (FSBO). I began to slightly lean towards the two talking. After two weeks of phone calls and postcards, he listed with an agent that he believed was going to get the job done. I moved closer to the cashier still listening to the two talking behind me. He spoke about how he feels that he should have went with another agent and that he was happy the phone calls from all the agents stopped. I thought it’s possible the agent is doing a great job, but after listening to a ton of Listing Presentations and phone calls the owner is not sure who the best option is.
I had been looking at homes with a client and was standing in line with her discussing the homes we seen. I asked if she would mind if I introduced myself to the two gentlemen and she said, “No, go for it”After a brief pause in their conversation I introduced myself. I asked where the home is located and what features it has. I told him I would keep his home in mind if it were to be a match for one of my clients. I thanked him for telling me about his home and I turned and walked to the front of the line (I was next) he asked “What’s the best way to transition from a For Sale By Owner to a Real Estate agent?”
I froze; I turned and asked him to repeat the question. He repeated and I answered, “that’s a great question, figure out what’s important to you, customer service or results” My answer was insufficient. I didn’t realize up until 3 days ago what he was actually asking. He wanted to know how he could find the right agent out of 20 agents calling and how quickly he should select an agent to save time and hassle. On a half sheet of paper I developed the Top 5 Ways to Transition from a For Sale By Owner to Professional Real Estate agent. This guide is to help you get the results you want, in the time you need. This also is a great tool for buyers looking to hire a Buyer’s agent.