Most For Sale By Owners end up listing with a realtor.
Last week we went over how to prospect them and the best stats to fill them in on before you show them your marketing techniques. Another giant key is to not lay it that thick on to FSBOs. Prospecting is great, but you can get these listings without prospecting the standard way.
Do you look forward to going to a car dealership and experiencing a salesperson try to shove you into a car that you don’t want? No one enjoys it.
When you try and “sell” someone you usually push them away.
So don’t make the same mistakes that agents make when they annoy these owners. Don’t beat them over the head with the statistics too much, but still let them know.
Here is what most agents do. They try to convince the FSBOs to list with them by telling them the statistics. “91% of all home sellers hire a Realtor”, they tell the FSBO. Even though this logic is sound, the FSBO doesn’t care. Most of the time they feel insulted. They usually don’t list with that agent.
Imagine the FSBO is holding a 300-pound weight over his head. That weight is the work of selling his home FSBO. Of course, he’ll start to buckle under the weight. You don’t need to force him to buckle before he’s ready to do it naturally.
Build your relationship and earn their trust.
You can continue to systematically follow up and ask how their sale is going. Give them any insight you have. but don’t ask them to list with you. By demonstrating your helpfulness, expertise and even friendliness, when they cave finally (which 91% do, so it’s probably going to happen) it will be a simple choice for them when they call you.
You know they will eventually list. You just don’t know WHEN.
This is why prospecting is not a great way to go afterFSBOs. Or at least the standard way of doing it. With that system, after you didn’t get a listing you move on to the next leads. So that’s where this ideology differs. Don’t ask them or pressure them, and they stay a warm or even hot lead.
What are you going to say the next time you call the FSBO?
“Hey, you didn’t want to list the last time I called you. Do you want to list today?”
Don’t go that route. But, if you have any materials or helpful things they can use, this will win your trust over. Offering a limited-service option, bringing up your stats and using certain lead-generation tools are good but it’s best just to inform them of these things while or sandwiched around your advice and tips.
Even if the FSBO sells on their own, you can add them as a contact to your database for regular contact and maybe they’ll turn into a referral.