Originally Posted by SawMill
Thanks everyone for all the advice. I hand out plenty of my cards, but I'm not comfortable walking around neighborhoods knocking on doors. Nor do I cold call, or call FSBO's or Expireds.
My thinking is, I hate it when businesses or individuals call me soliciting, so how can I do it to others. Plus, like others said, with the DNC lists its a lot harder.
I know the more people I work with, the more refferals I'll get (assuming they like my service) and in turn the more listings I'll get. Still, I check the MLS every day and there are always dozens of new listings coming up each morning, yet I can't seem to get any of the action.
To you and the original poster and all Realtors/Agents/Brokers who have nothing to do with flat fee MLS /FSBOs I have some further considerations. FSBOs are not the enemy or things with fangs and claws to be afraid of. Some are investor/flippers using flat fees or do it yourselfers and have no interest or need for a listing agent- this is true.
Then there are the two other types worth a second look.
Type one may have had bad experiences with listing agents in the past. They can be won over by a Realtor they have a positive experience with. Call them, introduce yourself, let them know you became familiar with the listing and would like to preview it in hopes of finding a buyer for it. This is your chance to establish a positive realtionship with them. Let them know you will help them to find a buyer if a match comes up. Let them know if they change their mind up the road, what you will do for them, that past listing agents did not that left them soured. Empathize with them and why they felt the need to go FSBO.
Don't be pushy at this time. Just ask questions and listen with empathy and understanding. Resist becoming defensive for their past listing agents. They have been wounded by these other Realtors and don't want to hear anyone defending the actions of those they have been hurt by. Sincerely apologize for the behavior of the bad apples and you'll start to earn their trust back.
Let them know, you would like to be the one to give them a positive experience when it comes to helping them find their next house. (FYI all) If you have written off showwing flat fees and FSBOs, you just reinforce a bad attitude some people have developed towards realtors and the games they play that are not working in the interest of matching up buyers with their dream homes. Those of you who do that are hurting your industry and the name of Realtors by treating flat fees/ FSBOs as the enemy. Take the higher road and win their trust and confidence back. There are lots of ways you can still show they your worth and value through assistance by other means.
There is opportunity there and a chance to build relationships and future referal potential.
Type two are simply people who would love to use a listing agent if the 6% commision didn't mean taking a loss on the equity they have in a property. Some, are simply trying to get as much of their money back as possible, before they end up having to go with a realtor in a short sale/pre foreclosure situation. They have no personal beef with realtors. They have financial problems. They are the most open to anyone who will empathize with them and this is an easy way to establish a positive relationship with them. If they do end up having to list with an agent, they already know, trust, and like you. They may decide to use you to help them find their next property, or, use you when they are selling again under better financial times.
Letting flat fees sit on purpose by not showing them is also contributing to the glut that go on short sale and bring area comps down. That is bad for your competitng listings. When buyers do their own comp searches-many do, they don't know what was a short sale and what wasn't and they will expect to pay less then the regular resale market value of your lisitings.
Your best chances for building new realtionships are with the flat fee MLS FSBOs. You know they havn't written off the use of realtors all together and are happy to pay the buyers agent commision. Some offer more then 3% even, have brochures, lock boxes, and can have the place show ready with 30 minute notice. They want to work with you and many experienced ones have made themselves easy to work with.
In short, these people are a source of a potential listing conversion, the right match for your buyers and therefor a commision, or someone to show houses to when theirs comes under contract. Why put a wall up between yourself and them during these tough times if you have? Reach out to them and make a good name for yourself with them.
Those of you who are realtors who have written them off because of a few bad experiences you had, are contributing to why realtors are often called arrogant, beleiving they are above the market place and other human beings trying to make deals in it.
There is no doubt this industry, in light of rapidly growing techonology, is going to be changing in the years ahead. How you all handle yourselfs now, will determine, if Realtors can still make themselves, friendly, trust worthy and useful in the future
. The Human
"fellow feeling" element will keep you in the game as technology evolves. Those acting like snakes or above other humans isn't going to put you in the game when technology takes your place and dominates how buyers and sellers come together and deals are made.
Blowing off any contact with flat fee MLS/ FSBOs is just another way for a Realtor and the name/value of realtors, to shoot themselves in the foot.
Do what you all are comfortable with and what you think is best for yourself and industry. I just see a lot of opportunity for you all in reaching out to these people in the myriad of ways I suggested you can offer help/value/positive name recognition to them.
The facts are-
Some Realtors ARE out there are making at least flat fees from them.
Some Realtors ARE out there are converting a good number of them into listings
Some Realtors ARE out there making 2-4% commisions from them on the buyers side.
Some Realtors ARE out there are showwing and selling them their next homes, because they reached out to them through their listing.
They are doing it. Why cut yourselves out of the market potential other Realtors are tapping into?
I know many of you havn't been and are finding ways to still service and make money off of Flat fee FSBOs.
Just wondering why others are not tapping into that action when they are asking for ways to get more action and positive name recognition, and or seeing them as a source to better rebuild the reputation of realtors through.