4 Steps To Working With Fsbo Sellers

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4 Steps to working with FSBO’s:

            Home owners trying to sell their home often have their guard up against real estate agents trying to get their business. The initial contact is important in gaining the business of the owners as you do not want to be one of those „other agents.“ When making the initial contact your ultimate goal is to contact the FSBO seller using a low-pressure, trust-building tactic and secure an appointment to tour the home. You want to make the seller believe that you potentially have a buyer but you want to check out the house for yourself before you bring in your client. During your initial call, if the seller responds with, „We don’t want to list with a real estate agent.“ You might say something like, „It is not my intention to list your home. I would simply like to put your home on my FSBO inventory list. If that is ok with you, may I come and view your home?“ The initial contact is a friendly, no-pressure contact where your ultimate goal is for the seller to allow you into their home.

           

            Once you have gained face to face access to the FSBO seller your next step is to tour the home, build trust, and ask for any possible referrals the FSBO may have. During your tour of the home you want to build a connection with the seller. This can be done by giving advice on how to better show the home, perhaps offering advice on how to stage the house, or how to add warmth to a room. By doing so you build a connection with the owner and show them that you are not in it to gain a listing. Upon leaving the tour, you should have some sort of marketing packet prepared. You can slip it in by saying something like, „Thank you so much for showing me your home, I wish you the best of luck in your sale. I have prepared one of my reports that might help you sell your home.“ This packet can contain information on marketing strategies, neighborhood data, or simple real estate facts, but most importantly your contact information. This packet with your contact information is your slick way of making a name for yourself and potentially gaining other clients. Finish off your tour with a statement like, „Well Mr./Ms. Homeseller, I’m hoping for a win-win here. I can provide you with information to help you sell your home, and I hope that in return you will refer any buyers not interest in your home to me. Is there anything else I can do to help you?“ With a statement like that you leave the lines of communication open and in return the FSBO may market your name.

            Your third step in the process is dropping off an item of value. In this step you are dropping off some sort of incentive or a small token of appreciation to the FSBO seller to build trust and maintain contact. These days people responds to incentives, gain the trust and business of someone by offering them something like a gift certificate to dinner or even a free vacation. By you offering something of value, you keep the line of communication alive. „Good morning, Mr./Ms. FSBO. I thought you might be able to use this. How are things going?“ No matter what response you get you want to ask the seller if there is anything you can do to help get their house sold. Most likely the FSBO hasn’t been having much traffic through the house and some consideration of hiring you is going through their mind. The item of value is your way to show the client you value their time, and you are willing to do what it takes to help them move the house. Even if you don’t get the listing right away you are maintaining lines of communication and even possible leads.  There is a great resource widely used for Marketing Incentives listed at the bottom of this article.

            Your last step in the process is touching base with the homeowner. The objective is simple, „touch base“. At this point in they are starting to feel the pressure of selling a home without an agent, and it’s your job to make another contact to see how things are going. Offer them your help once more. With an 80% failure rate, with all the other three steps successfully completed you might be getting their business soon. Contact them saying „Good morning, Mr./Ms. FSBO. I was just calling to see how things were going? Is there anything I can do to help you?“ If you get a „no“ make sure to say something along the lines of, „Ok, well, thanks again for your willingness to send me your referrals. Good luck!“ If you feel a little more aggressive you could also say, „I’ll be in the area next week. Would you like some information on…“ If the FSBO has not moved their house by now, keep the pressure on them. Continue making the contacts and offer them your help. With continued perseverance you main gain the listing on your next call. 

Michael Rausa….Is a successful realtor from San Diego CA. He specializes in listing bank owned properties & short sales.  He also works with real estate investors and bargain buyers.  Recently he  created a website focused on helping realtors improve their marketing efforts. 

To access the incentive marketing site referenced in the article go to

http://realestateabc123.com/cmi  

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Source by Mike Rausa