Many home sellers sell their homes without an agent or FSBO. This allows them to avoid paying listing and buyer’s agent commission fees.
FSBO leads can be found in online listings, classified ads, and yard signs. Make detailed notes during your first phone conversation with an FSBO lead, and confirm all the details of their situation.
Look for Signs
FSBO leads can be found in online databases and traditional media like newspapers. However, a more effective way to identify potential FSBO prospects is by driving around targeted neighborhoods and looking for signs indicating the property is up for sale. This method can provide a first-hand look at the property and its immediate surroundings, and it may uncover nuances obscured by property photos, or that could be missed when browsing online listings.
Once you’ve identified a potential FSBO lead, contact them and let them know you’re interested in their property. During your conversation, listen attentively and be prepared to answer any questions that they might have. You can also offer to help with the home selling process by providing them with a partial checklist of forms they must complete. This value-added service helps establish you as a resource to the homeowner and can lead to an in-person appointment.
When speaking to an FSBO prospect, ask non-threatening questions about them rather than their property. This will earn their trust and make them more receptive to how you can help them sell their home. Remember, it can take up to 4-5 conversations with an FSBO prospect before you can win their business.
Driving around your neighborhood can also be an excellent way finding FSBO leads. If you notice any FSBO signs in yards, tell the homeowners to see if they’d like to sell their home through you.
Despite the drawbacks of going FSBO, such as lack of MLS access and paying buyer’s agent fees, there are still many reasons people need an agent to list their homes. FSBO sellers may face a time crunch, such as a job relocation or other personal circumstances, and you can be their saving grace. Determine their needs and be of service by providing them with a purchase agreement or recommending authentic estate-related vendors. This will show them you are invested in helping them sell their home quickly and easily.
Take a Drive
The best place to find FSBO listings is by scouring the real estate section of your local newspaper, looking for fliers on front lawns, and searching websites where people pay to list properties. These sites get fewer eyeballs than the MLS and are a great way to find individuals who want to sell their homes without hiring an agent.
Once you find a potential FSBO lead, reach out to them to explain how your marketing strategies and wealth of knowledge can help them sell their home quickly and efficiently. Be sure to listen closely and offer resources they may need to accomplish their goals, such as free staging guides or helpful contacts in the community.
Remember that FSBO sellers aren’t all-powerful, and their motivations often come down to money and the idea that they can save by selling their own home without an agent. During your conversation, you may learn they’re in a hurry to close because of a job relocation or other personal circumstances. This information could influence your decision whether to work with them or not.
Do Your Research
Selling a home without the help of a real estate agent can save buyers thousands of dollars in sales commissions. However, selling a property independently can be challenging and can come with challenges. Independent sellers may need help navigating MLS listing rules and requirements, be less knowledgeable about market trends and pricing, and be unprepared for various home inspection issues.
Working FSBO leads is a time-consuming and challenging prospecting strategy, but it can be gratifying if you can convert them into listings. To win over an FSBO seller, you must persuade them that using your services is a net benefit to their sale. To do this, you can send them helpful articles and resources that explain the complexities of real estate transactions and offer to hop on a call with them to discuss their home’s value or any other way that shows your value as a professional.
Make an Offer
While some FSBO sellers may be able to sell their property successfully without a real estate agent, most have little or no experience with the many complex aspects of a real estate transaction. As such, a knowledgeable real estate agent can help buyers navigate the home-buying process, find suitable financing options, and hire a title company, mortgage broker, and attorney to ensure the sale is executed correctly.
During your first phone conversation with an FSBO, introduce yourself immediately and ask open-ended questions about their property. Make sure to note any specific concerns they have about selling their property. Also, be sure to provide a “power package” of information that illustrates the value of your services—such as sample offers contracts, local HOA paperwork, and appraisal reports.
It can take weeks or months to convert an FSBO lead, so be patient. Continue to follow up regularly and demonstrate your expertise with valuable data. Providing genuine value to a potential client will cultivate trust and build the foundation for future transactions.
Arman Ali, respects both business and technology. He enjoys writing about new business and technical developments. He has previously written content for numerous SaaS and IT organizations. He also enjoys reading about emerging technical trends and advances.