Tags Posts tagged with "For-Sale-By-Owner"

For-Sale-By-Owner

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With the arrival of Zillow and Purplebricks in Canada, and most recently the public release of sold data, you can be sure that our industry will look different one year from now.

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U.S. real estate listing website Zillow has arrived north of the border. Could this be the start of the For Sale By Owner (FSBO) era? It’s unlikely.

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The Organisme d’autoréglementation du courtage immobilier du Québec (OACIQ) is urging the government to adopt Bill 141 "to better protect members of the public in their real estate or mortgage transactions".

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How do you turn FSBOs into your biggest fans? Don't attempt to scare them by citing all the facts and figures about how poorly FSBOs do. You want to help them, and gain their trust.

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Ah, the dreaded cold call. Dialling a phone number to speak to someone you’ve never spoken to before doesn’t rank very high on most salespeople’s list of favourite things to do. But, do you want the business or not?

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So, you’re driving down a street looking cool and wondering where you can possibly find perspective clients. Should you advertise more, you wonder, as you drive by a For Sale By Owner sign?

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I developed a For Sale By Owner System based on the psychology of selling. The truth is, people don’t make decisions based on facts; they make them based on emotions and then justify them with facts.

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I’ll opine here that as the market evolves into more balanced or buyer-favoured conditions, FSBOs may once again fall further into fringe territory. Why do most fail? Think about the term “private sale”; it’s private.

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As part of an online campaign, CREA is looking for unhappy FSBOs. Or in other words, people in the Greater Toronto Area (GTA) who had a bad experience while trying to buy or sell their homes without a Realtor.

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What most home sellers on that path don’t know, however, can land them in major litigation and financial loss. DIY property sales companies will barely touch the subject or avoid it entirely.