After listening to thousands of FSBO prospecting calls I’ve noticed agents don’t know how to deal with the single most important question in the mind of the FSBO family: “Can you get me more money than I can on my own?” I heard it over and over again, real estate agents avoiding the debate or “using a line to get the appointment.” Yes, I said debate! Well the good news for most of the agents around the country in markets where the inventory has dropped significantly, the debate just got a lot easier (and some of the “lines” are now actually true). But I still notice very few agents even recognize it and avoid FSBO’s because they just haven’t figured out how to answer the question. I’m here to help! After studying how to convert FSBO’s over the last 4 years very intensely and spending countless hours working on answers to their most common objections and analyzing what we need to be able to do TO HELP THEM make the best decision for their family and financial future.
“The real estate community makes the mistake of over simplifying our presentation to FSBOs…”
I’ve come to a couple simple conclusions. The real estate community makes the mistake of over simplifying our presentation to FSBOs when we talk about our marketing tools vs theirs and even worse, we don’t clearly show them the extreme disadvantage of their FSBO marketing tools.
In the beginning of my training sessions on FSBO marketing and FSBO prospecting calls, I start with an important statement: “I love FSBO’s because they challenge agents value … which causes agents to either get really good or quit.” When an agent “Commits to FSBOs” as a valuable lead source for their career, they have to make the commitment to go toe to toe with anyone about the value of their service and the power of the tools a real estate agent uses. Once you commit to FSBO’s it can become really fun!
The $100,000 a year question for most real estate agents: Can you demonstrate the value of your marketing plan and have it measured against what the FSBO is currently using or could use and clearly demonstrate a higher sales price, better terms, best time frame, and least complications? My goal as a trainer is to insure that if you were put up in front of an audience of 1000 home owners in your community and it was a debate against the “retired engineer” FSBO (BTW the hardest to convert) you would WIN on every point brought up.
“I love FSBO’s because they challenge agents value …”
At first you might think, “Oh that’s easy” but it’s SO NOT! Let’s get you started on the path to your victory. The first question to thoroughly analyze: how do you get the highest possible price when selling a home? If you say “Well, just price it right” then I promise you the retired engineer will rip you to shreds! If you say, “I’ll list it,” YIKES the FSBO will kick you out of their house! If you say, “My negotiations skills,” most FSBO’s will say I know how to negotiate! (Remember I’ve listened to over a 1000 FSBO prospecting calls, I know exactly what they say!)
My challenge to you is really map out step by step what it takes to get the highest possible price, and create a presentation that highlights each detail in the process and then you will convert FSBO’s happily. Many trainers, including myself in the beginning, will tell you just wait until they are frustrated with the process. That approach only worked in a slow market. Well my goal as a trainer is to make your presentation so clear that you will be able to deliver the best result possible such that a FSBO will say, “That’s sounds so much better than my plan, I would like to hire you!”
“…this is the time to really get after those FSBO’s because it’s the easiest time in 10 years to prove that you can get them more money”.
Please hold your excuses about your market. I’m well aware that there are three types of markets out there right now: markets that never experienced the highs and lows of appreciation and properties sell slower, the markets that are still sluggish with short sales and higher inventory, and the markets that have low inventory and properties are selling fast. If you are in the low inventory market, this is the time to really get after those FSBO’s because it’s the easiest time in 10 years to prove that you can get them more money. For the agents in the other two markets, this still is step # 1, but you have two more steps to work on, speed of sale and sometimes instead of making the most $, it might be “not lose any more money” which is very common with FSBOs.
Put some effort into your presentation and you will reap rewards that are so far beyond just getting a couple listings. Imagine what your life will be like when you are one of the most powerful listing agents in your communities! FSBO’s will never go away, therefore now is a great time to step it up and work on your ability to clearly demonstrate the value of your service to the families in your community!
‘Patrick Ferry has been in the coaching and training industry for over 10 years. He has trained over 5000 agents from all over North America how to generate new business with their prospecting and marketing strategies.’ Mojo Selling Solutions is the company behind the Mojo Dialer and Mojo Lead Store and Data Service. For more information on the Mojo Dialer and what Mojo has to offer, please contact us at 877-859-6656 or visit out website at www.mojosells.com for demonstration videos and other informative blog posts.