FROM VIRTUAL TO REALITY

FiSBO can take you from side hustle to big business with a flexible high-profit low-overhead business

Real estate can be a tricky business. When property prices go up, commissions mean that sellers have to pay their agent more for doing the same work. And when prices dip and home owners need every dollar they can get, it’s not easy for them to find savings to offset their loss.

But things are changing and, here in New Zealand, FiSBO® is leading the way. The brand combines personal service from local franchisees with the latest in Virtual Reality and Artificial Intelligence to offer sellers the opportunity to market their own homes professionally, quickly and easily through a choice of fixed-price packages.

With almost $20 million-worth of properties sold already, FiSBO is now franchising throughout New Zealand, offering good gross margins and low overheads from this work-from-home opportunity. You don’t need to be a licensed real estate agent and, perhaps best of all, you can start part-time and keep your current job as you grow your business. Ingoings are just $25,000 plus working capital for the first six months.

Why FiSBO?

But first, what does that name mean? Founder Ben Keehan explains.

‘One of the fastest-growing sectors of the property market overseas is private sales, called For Sale By Owner. What we have done is create a range of digital solutions for that sector to create For internet Sale By Owner – FiSBO. It’s our own registered trademark.

‘Our franchisees create a professional campaign for owners and help run all open homes and viewings. Listings are advertised on TradeMe, homes.co.nz, and social media sites, as well as our own, and interested parties register on FiSBO.

‘Unlike an auction site, FiSBO can accept terms such as cash offers or offers subject to finance, so once there are interested buyers, our custom-built automated app helps owners select or negotiate the deal that best suits them. Conveyancing is then handled by their own solicitor. As the communication is direct between buyer and seller, no real estate licence is needed.’

Easy to run, easy to make money

So what skills do you need? The system does it all for you, says Ben.

‘Our franchisees take photos and video of the property for the sellers, and make a list of features. We provide all the software and systems for franchisees to create and then run their customers’ campaigns with photos, VR tours, signage and more. We have AI to help generate scripts from the property features.

‘Our automation then deals with all expressions of interest without the need for an agent. That saves both seller and franchisee a lot of time which they can put into the area where personal contact is really needed. A normal residential campaign requires about 10 hours of work from the franchisee, including open home time, which is very different from the input required of real estate salespeople and creates much better cashflow.

‘We don’t charge commission – we provide free quotes, invoice on acceptance, with deposits paid to confirm the job. It can be very profitable – a typical campaign can generate an hourly rate for the franchisee of over $400 per hour!’

Based on experience

FiSBO brings together Ben’s considerable experience in franchising, digital and real estate. He was a franchisee himself with a well-known retail brand which was a leader in using technology, then spent five years in the business-to-business market with Vodafone, creating solutions to streamline online operations.

After that, he joined a large real estate company, developing virtual tours and other software. ‘Traditional agents were resistant but I could see the potential, so in 2019 I left to start up my own business,’ Ben explains. ‘It proved to be good timing – the arrival of Covid drove more people online, and the simplicity and transparency of the FiSBO service gained immediate traction.’

With the system proven and a growing reputation, Ben turned to the team at Tereza Murray Franchising to create a viable business package.

‘For franchisees, just one listing a month will cover all your costs, and after that you are into real profit. Unlike a real estate company with multiple salespeople, offices, admin overheads, etc, FiSBO franchisees can easily handle four listings a month working from home.’

No experience required

Ben says you don’t need real estate experience to succeed as a FiSBO franchisee, and full training is provided. ‘This is about meeting people, building relationships, holding their hand a bit and providing a valuable service. Some sales and marketing ability is required, and you need to be tech savvy, but it’s not a hard business to run.

‘In terms of hours, Sundays are a must for open homes, with mid-week work as required on a per-gig basis. You can decide how far to take your business. Do you want to start as a side-hustle doing one job per week, or do you want to build a bigger business with a team of consultants? You decide.

‘This is a new opportunity offering new solutions in one of the biggest industries in New Zealand. Our first franchisees are already coming on board, so be quick to express your interest in prime territories around New Zealand. Hop on to the FiSBO website to see us in action then give me a call.’

Aiden Doran, FiSBO franchisee for Hawkes Bay, with Ben Keehan, FisBO founder