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Many real estate agents shy away from FSBOs (For Sale by Owner listings), as it often involves more than just calling once or twice…. and sometimes homeowners aren’t ready or willing to consider listing their home with a broker.
In the video below, Hoss Pratt, an expert in listing FSBOs, will take you through the steps to effectively communicate with these homeowners so that you can “List 28 FSBOs in 28 Days.”
This is an amazing class, but if you don’t have a full hour to listen, we also have some of these class highlights and FSBO communication tips at the bottom of this article.
When communicating with For Sale By Owners, keep in mind that 74% of all FSBOs will eventually hire an agent. 89% of buyers will purchase their home through an agent (so FSBOs are at a disadvantage). And most importantly, 73% of sellers would use the same real estate agent to list their home again… but less than 20% actually do because their agents don’t
keep in touch.
Hoss Pratt tells us that you typically have to connect with the FSBO at seven times on average over a 90 day period. That doesn’t mean you are stopping by or calling seven times, you need to also give them items of VALUE. Here are a few examples:
Hoss tells us to “TAKE MASSIVE ACTION” and whatever you do, you need to position yourself as the real estate expert and consistently provide value to your potential client.
As we mentioned above, the homeowner doesn’t care that you’ve sold 1,000 homes in the last 10 years. They want to sell their home… usually quickly! Here are a few solutions you can offer them if you listed their home:
It is also important to share your X-Factor with the seller — they need to know what makes you different from the other 25 agents that have been trying to contact them over the last 2 weeks!
You probably drive by at least two FSBO listings each day and if not, you can also subscribe to RedX and they will deliver them to your inbox every day!
Before you start working to find and acquire FSBO listings, we highly recommend that you ask yourself “What does success look like?” and definite what you want the outcome to be. If you have your mission plan and goals in place it will be MUCH easier to go out and find FSBOs and start listing their homes!
Editor’s note: This article was created by Kerry Lucasse, Agent/Owner at eXp Realty. Information deemed reliable but is subject to change.
At Building Better Agents, we are dedicated to helping agents build successful real estate careers. We help agents develop a plan, build a database, and work smarter to uncover the keys to success as a real estate agent. All without cold calling, door knocking, and chasing expired listings. Building Better Agents Leaders Kerry Lucasse and Kary Perry are proud to be agents with eXp Realty.
For more information, please contact us today!
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