For Sale by Owner Listings (FSBO) – Real Estate Techniques to Get More Listings

For Sale by Owner Listings (FSBO) – Real Estate Techniques to Get More Listings


The numbers are pretty staggering the National
Association of Realtors has reported in their survey of home buyers and sellers numerous
times that 70% of FSBO sellers will eventually convert and sell their home with a real estate
agent if the FSBO seller does not sell their home themselves
hi I’m Brian Icenhower and welcome to our module on prospecting for for Sale By Owner
listings or FSBO listings as we like to call them in real estate when prospecting
for FSBO or FSBO sellers we know this is someone who to some degree actually wants
to sell their home even though they are trying to sell their home themselves of course the
challenge with the FSBO sellers is they don’t really see the value in a real estate agent
because they think they can sell it themselves and when you’re contacting and you come in
contact through the course of business with different FSBO sellers i’m oftentimes
FSBO sellers will come off very standoffish and demeaning to real estate agents because
just by the fact that they are trying to sell the home their home themselves for sale by
owner they feel like it is their need to somehow devalue the service and the abilities of real
estate agents so that will turn off a lot of real estate agents it’ll make them not
want to deal with them or get frustrated with them so we have to grow thick skin to that
but I do like them because they want to sell so these are by no means cold calls in fact
FSBOs are out to often you know very inclined to talk to real estate agents because they
are looking for activity if that home is not sold there’s a reason for it in fact that
the numbers are pretty staggering the National Association of Realtors has reported in their
survey of home buyers and sellers numerous times for many many years I think well more
than a decade now that 70% of FSBO sellers will eventually convert and sell their home
with a real estate agent if the FSBO seller does not sell their home themselves the key
is to stay in touch with them build rapport over time and follow up with them over time
until ultimately when they do become one of the 70% that chooses to list their property
for sale with an agent or 1st of mine and we’ve already built some relationship with
them so it’s a lead follow up game with for sale by owners it’s definitely should not
be limited to your first contact typically only prospect for FSBOs you know we do
so over the phone one of the best ways to find FSBO numbers if we’re gonna make prospecting
for FSBOs a big part of our prospecting schedule is going online is going on zillow.com
where homeowners are allowed to put listings but there’s a lot of open house and for sale
by owner websites out there where sellers can list their property for sale and for the
for the best in your area I really would talk with the people that are made that are great
prospectors in your area talk with one of our ICC coaches when we get on the phone it’s
very important that we take our consulting approach that we tell you about in so many
of their prospecting method methods when will they start to justify why they’ve made this
decision on the phone we want to validate those efforts so when we do that just by saying
it back at them they said well we really can’t afford to pay a commission because we need
all the down payment money we can to buy the next home I say so I think I get that I think
I get that yeah you’re trying to really make sure you get the most money out of the sale
of your home because you want to use a for your down payment so I just pare it back to
them I actually hear their justification their objection to listing with me there a reason
and I just parrot it back to them right so I ask three questions right off the bat to
them when I reach out to them and those three questions are there in your scripts sorry
in your materials I’m going to read them to you because they’re three real short scripts
question number one is if I brought you a qualified buyer would you be willing to pay
me a three percent commission that’s my first question so I’m actually just asking if they
would pay me on the buyers side I’m not even talking about listing their home for sale
and if that is a yes that I’m gonna continue to the next question how long are you going
to try to sell your home on your own before you explore other options I’ve actually for
the probably the first time got them to start thinking about what happens if I can’t sell
it now whatever time they give you I cut that in half they say I’m good for a while I’ll
probably try it for six months to the end of the year okay whatever that number is in
my mind I’m gonna shorten that in half so that’s three months because usually they won’t
go as long and try as long they wear out and they get frustrated and they get tired of
looky-loos coming through their old stagnant FSBO listing and they and they will look to
list with somebody else a little bit earlier but what I’m really doing is actually getting
them to talk about that they will explore other option they may come out and say and
answer that question with well if I can’t sell myself I’m not gonna sell it or they
might tell you well we may you know we’ll probably have to talk to a realtor if we don’t
list it in two months and that’s a good prospect that’s somebody we can follow up with there
so you’ll see a lot of them will if nothing else they’ll think about and I’m gonna say
if you don’t sell your home by that time what other options will you consider so now I’m
gonna know are they gonna actually check with another realtor but it also prevents you know
in case they say well that’s what I’m gonna list it with my sister Janice and we may not
have a chance in competing with the sister Janice who’s gonna cut her Commission or something
like that so I really want to know if it’s up for grabs and if they will entertain another
agent so what I’m doing is I’m filtering through to get three yeses I ask three questions if
I get something close to three yeses on all three of those this is a prospect that I might
want to followup with close for an appointment or at the very least follow up with a nurturer
over time real simple very clean and all of a sudden now I’m just gonna filter through
and I can get through a large number of FSBOs Beau’s looking for yes as if I get yeses now
I’ve got very good hot leads there because that’s someone who is still trying to sell
but they’ve admitted they’re going with a realtor and that realtor that position for
who is gonna be that realtor is up for grabs okay so that’s a very important and that’s
a kind of a great intro three question scripts for all our FSBO prospecting understand
that they are marketing to the masses we’re really marketing to agents and if we FSBO
either way just by pure FSBO or by an online FSBO service that puts your listing in MLS
we are not getting the attention of the agents that represent 90% of our sellers so I really
want you get those talking points down because those are good talking points to use in listing
presentations we make the contact we try to set the appointment then we use it or we make
the contact and we follow-up continuously for five to six to eight weeks depending we
stay in contact we come from contribution we add value with a large number of FSBOs
we want to get a very big pipeline of FSBOs built up a lot of them so we’re reaching
out adding value listing e alerts going out and then they’ll start to list with us they’ll
start to list with us over time so it’s all in the follow-up all in your systems as usual
so thanks again for watching this video module on how to prospect for for Sale By Owner homes
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3 thoughts on “For Sale by Owner Listings (FSBO) – Real Estate Techniques to Get More Listings

  1. Great content, short and to the point. Thank you .

  2. What percentage of your listings did you get from FSBOs?

  3. 🔥🔥

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