As a real estate agent, getting leads (especially seller leads) is likely the most challenging and time-consuming aspect of your career. FSBOs, which is what we generally call those who have put their house up For Sale By Owner, are one of the most challenging types of leads to win over.
If you want to know how to win FSBO seller leads successfully, there are a few steps you need to follow to make the most of a relationship with a FSBO. With a good relationship, there’s a good chance you can get FSBO leads without a hassle.
1. Cultivate a Service Mindset
I know it sounds hokey, but it really is essential to cultivate a mindset of serving your client with exactly the help and support they need. Ultimately, you’re not developing this mindset for your clients as much as you are for yourself.
The truth is, a FSBO client isn’t going to want to have much to do with a real estate agent at first and you probably know that. If you go into it thinking that way, though, you’re going to end up getting nowhere because you have the wrong mindset and expectations.
Instead, cultivate a mindset that says you’re doing this to serve the client and help them in whatever way possible…even if they don’t end up paying you for it. Don’t allow yourself to be put off by self imposed objections such as:
- “They don’t want to work with me.”
- “I don’t want to be salesy.”
- “They don’t want to work with an agent because….”
If you get stuck thinking in that way, you’ll get nowhere. Instead, think about how you can serve the client and how much your service, even if it’s free, will mean to them.
2. Find FSBOs
If you want to work with FSBO clients, you’ll have to find them first. And here is how:
- Go online and search third-party websites where they might have posted their house—Zillow, Realtor.com, Trulia, etc. Most of these sites will also have their contact information listed.
- Go and drive around town looking for homes with For Sale By Owner signs. Many FSBOs suck at marketing, so you may not actually find them without going to look on purpose.
- Go to third-party websites like REDX where you can connect with sellers by using a sophisticated software service to find and contact sellers who are struggling to sell their homes alone.
3. Understand the FSBO Avatar
Most FSBO clients have some of the same characteristics that make them interested in selling on their own. It’s crucial that you understand these characteristics so that you can know how to interact with them and get them to trust you WITHOUT making them feel ashamed or annoyed.
- Most FSBOs are money-mindful. They don’t want to spend a lot and believe they can save a ton of money by selling alone and not paying a REALTOR® a commission.
- Most FSBOs are incredibly independent. They believe they can handle the transaction on their own and don’t want to deal with someone else telling them what to do.
- Most FSBOs stereotype real estate agents. They believe us to be untrustworthy and usually think that we charge them too much. They believe that the process of selling a home is easier than we say it is and they can handle it without our useless and expensive help.
If you understand these aspects of an FSBO’s character, it will be so much easier for you to connect with them and help them see that you are trustworthy and do have something to offer them.
4. Offer Instant Wins
If you want to win an FSBO as a seller client, you need to offer THEM ways to get instant wins. You should offer these regardless of whether they choose to work with you—you won’t get anyone by trying to upsell them, and you’ll develop a better reputation if you offer these things for free.
Here are a few scenarios you can play out to win over an FSBO client. In all of these situations, you’ll at the very least get contact information so that you can keep yourself top of mind in struggling sellers.
- You: “Can I offer you the checklist I use with my clients to qualify buyers?” [This gives the seller valuable information about how to qualify buyers and also proves that you know what you’re doing].
- Seller: “Yes.”
- You: “Great! What’s the best email address to use?”
- You: “May I host a mega open house and drive AT LEAST 20 buyers to your house this Saturday?” [This tactic shows you’re serious about helping and providing valuable leads, even if you don’t get paid for it].
- Seller: “Sure, you can help us with that.”
- You: “Great! Once one buyer signs the contract to buy, you’re all set—I’ll be after the other 19 buyers to see if I can help them.”
- You: “May I share the FSBO marketing kit I’ve created that shows you all the FSBO websites to make sure you’re advertising on?”
- Seller: “Sure, that would be great.”
- You: “Great! Can I get your email address to send it to?”
Note that you NEVER offer to sell the house for them. All you’re doing is offering value and service that they can’t refuse to show them without an agenda that you’re worth working with and that you have their best interests at heart.
5. Follow Up
Now that you’ve offered (and delivered) a resource to help the FSBO, you’re part of their team. You want to call and check in every 3 to 5 days and ensure that the resource worked to help them sell. If it didn’t…well, there’s a good chance they’ll want more help from you eventually.
In the first week, it’s highly unlikely that you’ll get the listing. The seller is likely in high-energy mode and ready to sell. Plus, they’re probably being bombarded by other agents who want to help them sell too.
However, by the second week, you may begin to see some weakening in the seller as reality comes knocking and tells them that this isn’t going to be as easy as they thought. By the third week, they’ll be much more receptive to working with you to get this home sold.
If you keep following up and checking in on how they’re doing, you’ll likely eventually see the perfect opportunity to, for the FIRST time, offer your services as an agent to help them sell.
Sell Homes for a High Price In No Time
If you’re ready to start finding and landing sellers and FSBO clients, you may want a bit of help putting a plan together, especially as a new agent. That’s where I come in. I can help you find and help sellers get their homes sold quickly and for a great price.
If you have questions and need help getting started, just reach out to me today! I’ll give you the blueprints and proven services that will help you land and follow through with any FSBO client you encounter.