Carolyn Behrens
the Realtor's Loan Specialist
The FSBO First Aid
Kit
In his book, How To Master The Art of Listing & Selling Real Estate,
Tom Hopkins-the top real estate trainer in the U.S.-suggests giving FSBO's
as much help as you can. They'll come to you when they are unable to sell
their homes, and 86% of them will list within three months of putting their
home on the market. To get, you have to give, so create the following package
of forms to give away to FSBO's:
1. Purchase Agreement. This document is also called the deposit receipt,
earnest money receipt, or binder, depending on your state. Use a generic
form; not your company's.
2. Escrow, Settlement, or Closing Instructions. Again, different states use
different names. These instructions have to be completed by trained
professionals, but blank forms will give buyers and sellers an idea of what
they need to think about in advance.
3. Title Insurance Policy. Get some blanks for examples.
4. Settlement or Closing Statement. Use VA or VHA forms if you can.
5. Deeds. Three types, available in stationery stores, are: General Warranty
Deed, Special Warranty Deed, and the Bargain and Sale Deed.
What are you going to do with all this? Put copies in large envelopes and
mark them, "For Sale By Owner First Aid Kit." Then give them out, but not
without explaining the purpose and complexity of each form. This package
will show FSBO's that your commission is well-earned. How? By helping them
through the emotional, legal, financial, and other complexities of a real
estate transaction. If they are overwhelmed, so be it. You can relieve them
of that stress, and they will realize that soon enough.
I am confident you will find this strategy makes a difference in your FSBO
business.
Enthusiastically! |
