Selling a home isn’t as simple as just listing it and taking offers. It’s a full-time job with many legal and logistical details to manage.
FSBO leads are a natural companion strategy to working expires, and cold calling and direct mail can be very effective at generating quality FSBO prospects.
Be Persistent
FSBO prospecting can be an effective strategy to generate high-quality leads. However, it requires salespeople to be pleasantly persistent. Otherwise, they risk wasting time, energy, and resources trying to connect with prospects who want to avoid talking to them.
Real estate agents need a solid plan before they start calling FSBO homeowners. This includes knowing the right questions, the message sequence, and how many calls to make before the prospect loses interest. Elite performers know that it takes multiple contacts to get a sale, and they stick with their prospecting plan. This separates them from the rest of the pack, leading to sales success.
Search the Web
The FSBO market is one of the most lucrative venues to launch a new business. The National Association of Realtors (NAR) estimates that nine out of 10 FSBOs will eventually list their homes with a real estate agent. Still, many brokers need to reach this prospective customer base. Your sales can increase if you find top-notch FSBO lead sources and turn them into client listings.
While the best FSBO lead sources may be difficult to generate because they aren’t on the MLS, many resources are available online to help you find them. These lists are harvested daily, providing fresh FSBO leads in real-time.
Cold calling FSBOs is also a great way to prospect these homeowners. Unlike expired listing leads, FSBOs typically don’t object to working with an agent and are more willing to recognize your value. However, it’s important to remember that FSBOs aren’t motivated by the same urgency as traditional sellers and will likely need some convincing. It would be beneficial if you concentrated your efforts on dispelling any reservations they may have about working with an agent and showing them the advantages of your services.
Go Door Knocking
Although door-to-door sales may appear to be a thing of the past, they can be one of the best methods to produce high-quality leads. Targeting FSBO homeowners who could be searching for an agent to sell their properties in real estate is very beneficial. Although this tactic demands a lot of patience and work, it may be quite profitable in the long term.
Using a paid list of FSBO homeowners can jump-start your search for FSBO leads. Once you’ve located a potential seller, it’s time to make contact. FSBO sellers are a great prospect for your services because they’re already on the market and are likely looking for quick results.
You may schedule a time to see the FSBO’s property and explain how you can add value during your phone call with them. They can also receive a box with a personalized listing. You might even ask them to sign a buyer’s agreement with you if you get along well.
Build Relationships
Many real estate agents use cold calling and direct mail to reach FSBO homeowners. However, these lead-generation techniques aren’t always effective in building a relationship with this type of seller. Providing value is the key to getting your foot in the door with FSBOs. You may accomplish this by scheduling a preview session, sending a brochure, or just by offering to respond to any inquiries they may have regarding the property selling procedure. Additionally, you must continually follow up. You won’t get an FSBO listing on your first call or week of follow-up, but if you continue to provide value and stay in touch, you will eventually win the business.
FSBOs aren’t as motivated to sell as traditional sellers, so you must be persistent with your approach. Some FSBOs will respond to your offer, but others may be more resistant and have rejected you several times. Creating unique selling propositions, a strategy for handling objections, and FSBO prospecting scripts can help you increase your odds of winning the listing.
Ask for Referrals
Every sales approach must include referrals. Many sales teams, however, need a procedure for reliably obtaining referrals of the highest caliber. Identifying your potential clients is the first stage, followed by a straightforward request for a reference. It’s crucial to reward and motivate consumers who recommend others by giving them discounts on future services, gift cards, or charity contributions made in their honor.
Customers should be reminded that they can recommend your company to friends and colleagues anytime. A passive ask on an invoice, a transactional email, or a social media post is just a few possible methods. Even your basic business cards might have a brief paragraph to promote recommendations.
When calling FSBOs, remember to keep your pitch short and sweet. If you can provide value to them and follow up consistently, they will eventually become a good source of referrals. Avoid asking for their business at the start of a phone call or during an initial face-to-face meeting, as this will likely turn them away. Ensure that your clients and potential referral sources can easily share your contact information by making it easy to find on your websites and business documents, such as an email signature or business card. This will make it easier for them to send you quality referrals.
