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FSBO (with a lot of help from me…)

April 26, 2008

I’m hoping more experienced agents can provide guidance on this. I met a homeowner recently who was looking to sell his mixed use residential/commercial property. This gentleman has been in business in the neighboring town for 25+ years. He knows everyone. He told me upfront that he was planning to try and sell it himself. He wanted my opinion of the value (as an appraiser and as a real estate agent). I gave him my opinion on the value. The property is most likely worth somewhere in the $800K’s. Significant value there for sure. So I gave him my opinion.

But I gave him a lot more as well. I am creating a single-property website for him. I am setting up a private extension on my toll-free call capture hotline. I am showing him how to get the property on MLS without an agent. I am taking his pictures. I am creating a video. I am giving him a 110% marketing plan to make sure his property is in front of every potential buyer out there. He asked me my cost for all this. I told him referrals. Not charging him a dime. Like I said, this guy knows EVERYONE in town. My thinking is that if I have the time (which I do in this market), and I give this seller everything I can, it will come back to me in spades.

I will let you know how it goes. Oh, and BTW, I got my first referral from him. He signed a buyer’s contract with me tonight to look for a down-sized home when he sells his.

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4 comments

  1. I wouldn’t normally advocate giving away the farm but in this case it seems it could be a great way to establish a relationship with what could be a vast font of business… go for it.


  2. Mike. There is no one right way to manage or grow your business. I’m thrilled you’ve already received a referral and look forward to finding out how this works out. You may end up with a number of people telling you you’re nuts, but Terry Watson, motivational speaker & real estate guru, once said that to succeed you must be UNREASONABLE. Glad to know you!


  3. Awesome Mike!

    Doing uncommon things can make you outstanding.

    Rudy
    Social Media Guru at Trulia.com


  4. so you are listing his property and going to maintain while on the market. But he is doing showings? You will need an agreement to protect yourself from NAR. Good luck



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