5 Steps to Convert a FSBO (#3 is my favorite)

Written by Posted On Wednesday, 30 November 2016 05:48
  1. Use data resources (there are several out there) and listings to compile a list of FSBO prospects. It may be easier to prospect if you start within a certain price range, this way you can customize and practice your initial call script. Check the Federal Trade Commission’s Do Not Call Registry and confirm that you can reach out before calling. Visit open houses towards the end, when you are more likely to catch the owner’s attention. 

  2. Open a dialogue to qualify your prospect. Inquire as to why they opted to sell themselves. Ask what kind of time frame they have set to sell the home and what marketing tools they are using. Is there a sense of urgency? Find out if they already have a plan B in place. What are their options if they do not sell by their personal deadline? If they are already connected to an agent who is a friend or relative, take that into consideration. 

  3. Show your unique value by highlighting the property’s attributes through tools available only to agents, like www.LocationCertified.com which provides the only Fair-Housing-Compliant way to draw attention to attributes the seller may not be focusing on nor including in marketing materials, like low traffic, low crime or high performing local schools. Showcase your selling techniques and marketing tools.

  4. Demonstrate your pricing experience. As an agent, you have tools at your disposal that will provide you with all the data and comparable information to price a home correctly. Ask the seller how they arrived at their listing price, and whether they would like to see how their home compares to other homes on the market and recently sold homes.

  5. Be persistent but don’t pester. FSBO sellers will grow frustrated or would like to move within a shorter time frame than it is taking them to sell their home. Set a call schedule, stay in touch and stay friendly. Don’t criticize an annoyed owner, but do continue to offer value.

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