I just received a press release from the National Association of Realtors promoting their annual survey of Home Sellers & Buyers. Although it's not the full report, there is some great information contained in it to help you on FSBO appointments. I've attached it here and highlighted the part I thought would be most helpful.
It says that the median price of a home sold by a Realtor is 16% higher than those of similar homes sold by owners directly. Those stats are perfect for a commission objection, so here's your dialogue:
"Other than the commission Mr/Mrs Seller, is there anything else that's bothering you?So if my fee wasn't an issue, from everything else you've seen, would you hire me tonight? (Gotta get a yes to move forward from here gang. If you don't that means commission wasn't the only objection and you have to go back and discover and isolate ALL of the objections)Then let me show you something that might put your mind at ease (bring out attached file)This is a portion of the NAR Annual Home Seller & Buyer Survey. They've done this for many years, and do you know what they found out? (seller grunts) They found out that the median price of a home sold by a Realtor is 16% higher than that of similar homes sold by owners. If that's true, you could potentially net X% more (16 minus your commission rate) if you hire me. Pretend they are half wrong...you still stand to net x% more (8 minus your commission rate) if you hire a Realtor. And I find most of my clients are more interested in their net, what they put in their pocket, than the percentage of commission they pay.When you look at it that way, it makes a big difference, doesn't it."There you go my friends! It's January so go build those listing inventories...and force yourself to add FSBOs into the mix. Come back in a day or two and I'll post what I learned from Danielle Kennedy's talk at FloydFest this year!Download 2005_profile_ofand_sellers.pdf
