14 Agent Tips to Target and Market FSBOs
Hunting for FSBOs this Holiday Season!
Winning the FSBO Challenge
Many FSBO’s believe they do not need to hire a professional real estate agent to sell their homes. They think selling a property is an easy process and they can do it themselves and save on the agent commission. All too often, The FSBO will end up getting less money for their home than they expected because it’s “just not that easy.” FSBO homeowners lose a sale simply because they overlooked crucial documents or fail to address issues raised by a home inspection. Our job, as agents, is to show the value of our knowledge, resources, and the complex process of selling a home.
You know the old saying, “You can’t put a price tag on memories?” We see this all too often where, due to their emotional attachment to the home, homeowners overprice the property. As an agent, you are a skilled negotiator and a third-party, non-biased entity. You are looking after your seller’s best interest through facts, numbers, and the right comps to arrive at the right listing price — emotions are not a factor.
Below are several tactics you can execute to win more FSBO’s:
The Right Approach
Don’t sell your services, be of service!
- Visit first. One of the fastest ways to build rapport, trust, and connections with prospects is to stop by and introduce yourself. Make sure to always get their contact information.
- Be unique. Be genuine and authentic and offer something practical. In advance of the visit, create an excellent first impression by creating something as simple as a flyer with a list of websites where they can advertise as FSBO’s (Youtube, Facebook, FSBO.com, etc.). Canva.com is a great tool for creating flyers. This preparation and offering will show goodwill and is a great step in forging a relationship. You are giving them valuable information they may not know and this will set you apart from everyone else.
- Detailed follow-up process. Have a follow-up process and be consistent with it.
Be a Valuable Information Source
People no longer want to be sold to, they want guidance.
- Do your homework. When prospecting a FSBO, be sure to do a little homework first. Learn about the neighborhood, schools, shops, nearby expressways, what has sold, and what’s actively on sale. Use the internet to quickly become the neighborhood realtor in minutes, if you are not already.
- Be speedy. Keep an eye on the industry news and trends and always be the first to send out relevant content. Monitor all your social media sources and remain active; if you are like most of us, and can’t glue yourself to your phone 24/7, you can set up a Facebook auto-responder.
- Videos. Create videos of everything and anything Real Estate related and post on social media.
- Document sourcing. Create a list of all the documents they will need in the selling process and send them to the FSBOs later in the process.
The Marketing Plan
Be creative with your approach.
Marketing is a huge part of selling a home quicker and for more money; getting creative goes a long way. Here are some things you can offer them and how to be different.
- Property domain and website. Before you meet with a FSBO, you can make a single property page with its domain name. Take pictures of the property’s exterior and speak about the neighborhood and something nice about the home’s features.
- Photos and home tour. Offer the seller professional photos of the geographic area and highlight points of interest in the surrounding areas. This is done to create an emotional feel for interested buyers, and it helps them envision living there. A 3-D home tour will also enhance how the property shows and get it noticed.
- Digital advertising and networking. Run Facebook and Instagram ads for all of your sellers and talk to them about the landing and squeeze pages you will be creating for them. Share how you have a vast organic following and network with other agents in the area.
- Signage lighting. Add lighting to your real estate sign to call attention, especially now in the holiday season.
Pre-Qualifying the Buyer
As a real estate professional, showing houses is a big part of your job, and you don’t waste time showing homes to unqualified people who are just curious.
For sellers, having a trusted, qualified agent that prequalifies all the prospective buyers expedites the selling process.
FSBOs come with a unique set of needs, and you will need to be patient. Building a relationship and winning their trust takes time. Communication and persistence are two key factors that will help you land more FSBO listings.
- Agent access. The majority of the calls and visitors FSBOs receive are from agents, neighbors, and lookers. Ask the seller how many of the calls they have received have been from realtors? When they answer 10, ask,”How would you like to have access to the 9K agents in our MLS service and have me representing you and speaking to all of them?”
- Pre-qualify. Talk about pre-qualifying all potential buyers and go over the steps you will use with the homeowner.
- Scheduling automation. Show them your scheduling automation tools and processes in place and share with them how many more showings you’ll get in a much shorter period of time.