How to Successfully Convert FSBO's to Your Listings By Rob D Tucker

I've been in real estate now for over 10 years. I started with no sphere of influence and in a totally new area after moving across the country to relocate. In my first year, I was International Rookie of the Year with over $12Million in Sales. One of my main target markets was For Sale By Owners.

I learned some key pieces to actually getting these prospects to become my clients, here is the plan for conversion:

The first step is to actually have a real Action Plan for converting FSBO's to your Listings. The Action Plan should span over 90 days for the high intensity contacts, and then convert to a lifetime of "touches" to make sure that they stay your clients and customers for life.

The initial step of the Action Plan is to find prospects: you can use a variety of sources including the newspaper (online and offline), FSBO specific sites and driving around areas. Once you've found them, you need to add them to your Action Plan and make that initial call.

The initial call should be something that is comfortable for you. It should not be threatening or question their intelligence. You're probably laughing at this one, but when I started there was a colleague of mine who was also targeting FSBO's - he would come to the office early in the morning and start making calls. You have to admire him except that he would always cut off his initial call script within 30 seconds because they hung up on him!

The reason for his massive failure was that he took a course from a highly regarded and successful real estate trainer (albeit one that had never actually sold a house!). This trainer taught him the script that I hear way too often: "Hello, this is Joe Smith - is the owner around? Great, I understand that you are trying to sell your home yourself, is this correct? Wow do you know how many people try that and then end up listing with a realtor within 30 days? Do you realize that people have actually been killed trying to sell their home by themselves?..."

The conversation was one based on fear and insulting their intelligence. What would you do if you received that call at 7:00 AM (or anytime for that matter)? You would become angry and hang up too!!!

The other mistake script is telling them that you have a buyer that you would like to bring by. The only problem with that is that you really don't have one and then you show up to see the property and use an excuse that your buyer couldn't make it - only to proceed to try to get them to list their home with you! Warning: they've heard it and been there already!

Your initial call should be one of understanding and patience - not fear and insults. Remember, the FSBO has decided to sell their home without an agents help for any number of reasons. You have no clue yet why but one of your missions later will be to find out. First, you need to get your foot in the door.

I always used an approach that allowed me to tour their property without ever mentioning the possibility of listing their home. If you approach the call as a genuinely interested person, then you will have more success.

Once you've met with them and toured the home. You will have substantially more knowledge on the property, the owner and the reasons for attempting to sell FSBO. You can then start to build additional trust and offer help and assistance. This is accomplished by a series of postcards, phone calls, handouts and letters.

Your postcard series should be targeted to offering various services for free or a small fee: use of your IVR system, fliers, showing and tour services, FSBO website listings and more. The more that the FSBO sees you as a friend instead of a salesperson looking to take another listing, the better off you are and will be in the future.

Your letter series should include handouts, guides and other support materials that show your professionalism without asking for a listing. Examples of your marketing materials are good but actual step by step guides ("Holding a Successful Open House", etc.) are much better. Again, this is an opportunity to set yourself apart as the expert and the only person trying to help the For Sale By Owner succeed.

Here's one key tip: ask to host their Open Houses. If you do this and do it correctly, you should get 1 -2 additional pieces of business from every Open House that you help that FSBO Owner with.

Here's the bottom line - treat the FSBO as if they were already your client. Help them with their efforts... if you follow the right process, one of two outcomes will occur. Either you will be asked to list their property or it will sell and you will get referrals and additional business!

Good luck and go get them

Don't Hire a Jack-Of-All-Trades By Carolyn West

What is a Jack-of-All-Trades? This is an agent that lists properties then starts working with buyers. Sounds good? Not really. Here is the clincher. If your listing agent is working with buyers, who is marketing your property?

One of the greatest myths in real estate is the Listing Agent will show and SELL your property. This is totally FALSE. The fact is agents that specialize in working with buyers show and sell properties not the listing agent. That is why you never see your listing agent showing your home.

Agents that claim to 'do it all' are misleading their homeowners. According to the National Association of Realtors the biggest complaint homeowners have about their listing agent is the agent listed the property and never heard from the agent again. That's because they are too busy working with buyers and not working on marketing your property to get it sold.

What most people do not understand is there are two agents in a traditional real estate transaction. The listing agent will list the property for 6-7% commission and share the commission at closing with the buyer's agent (if there is an agent involved in the transaction). If there is no buyer's agent involved in the transaction then the listing agent gets paid the 6-7% commission at closing.

For example on a $200,000 home the commission at 7% is $14,000. If there is a buyer's broker involved in the transaction the listing broker will share the $14,000 at closing. The buyer's agent will received $7,000 and the listing agent will receive $7,000. If there is no buyer's agent involved in the transaction the listing broker gets the whole 7% or $14,000.

What if the homeowner shows the property to the buyer and they are listed with a traditional real estate agent? If the listing is taken at 7% the homeowner must pay the listing agent 7% at closing whether the agent showed the property to the buyer or not. How would you feel if you did all the work and still had to pay $14,000 to the listing agent who did nothing more than list the home in the MLS (Multiple Listing Service)?

With our on-line Flat Fee Listing Service that specializes in real estate marketing for homeowners. We will list your property for a flat listing fee. The homeowner pays only one agent at closing (3+/- %). If the homeowner shows the property to a buyer not working with an agent they pay no commission.

Agents that are "Jack-of-all-trades;" cannot possible do-it-all. Sellers need to work with someone who is highly experienced for what they need which is an agency that specializes in real estate marketing.

Just like if you have a heart condition. A family physician is great, but if you need heart surgery are you going to use the best heart surgeon or someone that does it all?

Carolyn West is a license Real Estate Broker, Coach and Trainer in Atlanta Georgia. Carolyn specializes is helping the "For Sale By Owner" client sell their property themselves without having to pay huge commission fees to List their properties in the Multiple Listing Services (MLS).

Selling Your Home? No Fur Balls, Old Cars or Kids Allowed! By Carolyn West

Back in 1993 when I first started out in real estate, I was working as a traditional realtor going on listing appointments. As I drove-up to the property I began scanning the exterior for curb appeal and general appearance of what needed to be corrected before we market the property.

The yard was cluttered with children toys, garden hose and an old tires from a car that looked like it was sitting in the driveway and no longer drivable.

Upon entering the property I was hit with a strong kitty litter odor that practically knocked me over. Now don't get me wrong I love animals I have 2 dogs and a cat myself - but my home is not on market to sell.

The smell was over powering. After previewing the home, I sat down at the kitchen table with the homeowners to go over where we could list the property for sale and review what needed to be done prior to listing the property. I did not get very far before my eyes started itching, burning and tearing, my nose began to run and I started sneezing uncontrollable. So much so I had to leave the property. Needless to say I did not take the listing because the homeowners thought my allergies were unique to me.

When marketing your property for sale it's important to realize that your house is no longer yours. The way you live in a home when it is not on market is not the same when you live in your home when it's on market.

Animals and children need to become invisible to the potential buyers during the marketing stage. The home must be cleaned from top to bottom, inside and out. All odors removed.

If you have a kitty litter box inside the home clean the box frequently or better yet move the box and animals to the garage. Dogs need to be removed from the property or crated during the showing.

If you are a cigarette smoker - smoke outside. Many people can not tolerate the smell of cigarette, cigars and pipe tobacco. You are losing buyers. If you think a non-smoker cannot smell tobacco odors you are wrong. I can often smell if the owner is a smoker or not from the driveway before I even enter the property.

Garden hoses need to be neatly stored. Old cars and tires need to be removed from the property. Children toys need to be pick-up and stored away to give buyers the opportunity to 'shop' your home without fear of tripping over toys and clutter. Use a storage bin in the garage to neatly store toys, bicycles, balls and skates.

Making simple changes to how you live in a property when your home is not on market vs living in a home when it is on market is the difference in whether the home will sells or not.

When marketing your home remember that not all buyers like your kitty or pooch or even your children.

Buying Property in the Cayman Islands By Micky Davies

The Cayman Islands are made up of three islands Little Cayman, Cayman Brac and Grand Cayman. They are located in the Caribbean sea and are a British overseas territory. It is a fantastic location with great weather and for many reasons an ideal location to buy a home. Property for sale in the Cayman Islands has been popular amongst property investors not only because of its location but also because of the taxation system with no capital gains, no income tax and no inheritance tax - you can understand why!

The language is English with the Cayman Islands dollar (CI$) being the local currency however the US dollar is accepted everywhere. The government gathers its revenue by charging import duty which can be from 5% to 22% and particularly for cars anything from 29% to 100%.

The climate is typically Caribbean, the dry season is November to May and the wet season May to October.

If you are thinking of moving to and working in the Cayman Islands you need a work permit. You must apply for this before you arrive and you will need an offer of employment (the employer normally applies for this permit).

When you buy a property in the Cayman Islands you will be subject to the property transfer fee "Stamp Duty" and this would be paid by the purchaser as part of the closing fees. This fee differs from location to location eg along the Seven Mile Beach it is 7.5% and the rest of the island is 5% and upwards. Once you have purchased a property then the title is recorded at the land registry office along with any mortgage (Charge) on the property. Solicitors fees are negotiable and tend to be around 1% of the purchase price.

According to a report by CIREBA (Cayman Islands Real Estate Brokers http://www.cireba.com ) property is on the increase and, in 2011, sales are up on those from 2010. In the September 2011 report it shows up to August 2011 property has seen an increase of 203% compared to the previous year. There has been CI$422 million in transfers up from CI$207million in 2010 and the figures are up on 2009 and 2008, but the actual number of transactions is down which means the high end property market is still good but the lower end is struggling.

Mortgages are available in the Cayman Islands and deposits are normally between 10-35%. There is no interest only mortgage available and you can ask to pay biweekly, which will reduce the interest payments and the term can be 20 to 35 years.

Property is available from Land, Condo's or luxury villas with the higher prices in the Seven mile beach area, but if you buy to let then rental is also high in this area.

If you wish to buy a property in the Cayman Islands or any other country in the world then visit our web site http://www.online-property-sale.com or if you wish to sell a property then you can place a free property advert with us.

Written by: Micky Davies October 2011
Look at our Property for sale by Owner web site for advertising your property anywhere in the world. You can even place a free property advert.