If we shouldn’t try to “sell” a FSBO, then what
can we do to convert them into a listing?
First, make sure you understand how they buy. Then, help them buy. Sound complicated?
It isn’t. Let me explain.
My Secret Strategy To Listing
FSBOs: Help Them Buy.
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.
Eventually, he’ll drop it. BUT, WHEN?
You know they will eventually list.
You just don’t know WHEN.
This is why prospecting doesn’t work very well for FSBOs. Most agents try to list the house on their first call. But, most FSBOs are not ready.
So, what does the agent do?
They move on to the next lead. They try to list that home right away. Now, every once in a while an agent gets lucky. They call a FSBO at the exact moment that FSBO is ready to hire an agent.
And they get a listing. Yay!
Actually, it’s really bad.
None of these agents ever think about all the FSBOs they are losing, because they didn’t call at just the right time.
That is why prospecting is the worst way to list FSBOs.
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?”
Follow up calls are uncomfortable because you don’t know what to say. I have listed a lot of FSBOs with prospecting. But, I was never good at the follow up part, because I didn’t know what to say.
I didn’t have anything of value to provide to them.
I felt like a pest who was bothering them. I would try each FSBO a few times. But, if they weren’t interested, then I would focus on the new leads. New FSBOs. New Expireds. Other NEW leads.
I left all of old FSBOs to someone else. Yep. That’s right.
Someone else listed all those FSBOs that I could have listed.
That was a big mistake. Looking back I can’t imagine how many FSBOs I missed out on.
If only I had followed up with them. If only I had had something of value to provide to them. Back then I didn’t. Today I do.
I built an entire marketing system that enables me to list FSBOs using Direct Mail.
Today, I list 6-8 FSBOs a month without doing a lick of prospecting.
You could do the same. It starts with direct mail or email. We have a system or you can use your own. Just mail letters out to them once or twice a month. Use the checklist from the last chapter. Send them things that are going to demonstrate your value. This will build that trust we been talking about. Then when they list, they’ll call you.