Well, for the past few posts I have written some fun things and did not go back to my series. To be honest, I just overlooked the fact that I had just stopped in mid though. Anyway, here is a link to the previous posts regarding 'Obtaining More Listings'.
The next stage of FSBO capture is to become one with the enemy (I know that sounds cheezy). What I am suggesting here is that you need to help owners sell their homes - to a point. If your FSBO approach is merely trying to overcome their objection regarding listing their home with an agent, you may come off as a pushy salesperson rather than an expert adding value to the process.
Instead, specialize in giving tools to homeowners such that, when they have already decided to go it alone, you will make the process easier for them. A sample FSBO package would be designed to disseminate tools to homeowners, such as:
- An open house kit, including sample ads and a visitor' sign-in sheet.
- Questions to ask prospects.
- Instructions as to how to ready their home for the market.
- Vendors with whom they need to work and the steps they need to take with each.
- Sample sales contract with instructions.
Okay okay... I know what you are thinking right now. "Why the heck would you just give them a ton of very helpful information?" "What is the advantage of giving them these tools?" Actually, there are several very good reasons:
- You will present yourself as an expert instead of a salesperson. When the home does not sell, you will be the first person they turn to. Just make sure you are not mass mailing these items. Make sure you go over these packages personally with the homeowners so that you are developing a strong relationship.
- You will be in position to be referred to the prospects approaching the owners. These referrals can be much more lucrative than the one listing you might be missing.
- Your educational process may convince the owners that the process is to complex and they need help. Many try to go at it alone because they are ignorant of how complex the real estate process really is.
A real assessment of your value proposition? Are you ready to deliver value to those who could use it in a way that will deny you a transaction? If you are willing to take this step, you may really put yourself in a position to be succeed...
I'll try to make the next installment sooner. I was told that my posts are too long, so I try to keep them short. It just means I have to send more of them, which is also fine with me.
Interested in reading more and discussing your opinions about FSBOs? I'd love for you to SUBSCRIBE TO MY BLOG and watch for upcoming topics and responses.
John Cannata ph# 214.545.5604
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Those are good tips. I am not into FSBO conversion but some people can do it.
Good tips..they need us now more than ever...the days of a sign in the yard and 3 offer are certainly over...coming across with a "SERVICE" attitude and actually trying to help them instead of sell them is the best approach....
Regards
Rick Goates
Good tips most FSBOs end up listing with an agent anyway, it is tough to go on your own selling a home
Myrtle Beach rentals
John, I have not focused all my efforts to the FSBO market, but the tips you talk on above are my actual starting points. I attempt to assist them in their desire first with hopes they will call on me when they start to get into frustration mode.
These are helpful suggestions. I is definiely worth a try.
I love FSBO's, but recently they have been challenging to say the least!
Good info in your post. I am doing exactly that with a customer now. I do feel they will call me after they have exhausted all of their resources.
"Sample" sales contracts as examples. Very nice Mr. Cannata.
Education is key and if you're the one providing it, you are positioning yourself as the expert - great advice John!
Chuck - Thanks for the compliment. I know that many agents are not into FSBO, but they are an option. If ever you decide to talk with a few, perhaps you can take these tips with you. Have a weekend!
Thanks Rick! It certainly one approach. Some agents are able to talk with FSBO and turn them, but that does not work for everyone. This approach is much kinder and helps the customer get comfortable with you.
Well Vacation Guy you said it. It is hard for FSBOs to sell their home if they do not have the right tools, which is why they pick an agent. But even knowing that, some homeowners will still try to give it a go before making the decision to hire a professional.
Tim/Pam I'd love to hear how things are going. Feel free to come back with comments and/or drop me a quick note. Based on your note, I can't tell if I helped you with tips or if you are using something similar. If you have other ideas, we'd love to hear about them. Much Success!
Thanks Cathy!
How so, Dinah? Is the problem getting them to list or getting them to list with you? Are they not letting you make an appointment with them to talk? Please do tell.
Lantonia - It is great that they feel comfortable with you. Perhaps you are correct that they will contact you if they decide to list with an agent. Keep doing what works for you, if you have found it to be successful. Just keep in mind that their may be an agent that offers this type of assistance to them, which could cause them to say "I wonder why Latonia didn't offer that". Maybe it wont happen, but just be sure to keep in touch with them. In turn, Im sure they will keep their loyalty to you.
Hey Nino! Yes, they should be samples and not just blank sheets. Its another example of showing them you are a professional and not someone that just gives out sheets of paper. Reminding them of what you do! :-)
Thats right Karen! Have you noticed that a lot of my posts talk about education. You would think Im some sort of teacher or something. Perhaps I should sell text books. Thanks for the comment.
I'm hoping that one day I'll provide some good information and be a featured post on the daily newsletter. (this is off topic)... I thought you had to have over 100K points or something, but I just noticed today someone was featured and it was her 3rd post on AR ever. Dont get me wrong, it was deserved. But id like to be there one day. :-)
Enjoy your weekend all!
Sounds like great advice. it helps for a FSBO to know who you are and have a way to contact you when they give up.
Exactly Sharon! Let them know what you are about and can offer. They feel less threatened and put their guard down when they don't feel its a trick.
FSBO's have become more visible here in my area-these are some good ideas to start with. I do like the "sample" idea-gives the seller an inside look at what you do.
And that is really the whole point Dawn. Let them know what you know, they get a chance to see you as a professional and one that has their best interest in mind. Good luck!
John, great post about working with the FSBO. Many steer clear of agents because most approach them as salesman. In doing something out of the ordinary, it relaxes the FSBO and they are more open to getting help when they run out of options. The first agent they will look to is the one who help them along the way while they initially were going at it themselves.
Thank you for the comment Jim. I do feel that it is easier to get your foot in the door when you have helpful information rather than trying to sell them on your services. Ultimately, although you not directly selling them, you are providing them with the information that shows them what you are about.