FSBO (for-sale-by-owner) leads combined with expired listing leads can be one of the warmest lead sources in real estate. They're typically motivated and, if worked correctly, can become your best clients.
When calling FSBOs, start by providing value and follow up consistently. Then, reframe their objections to showings and the MLS by emphasizing what they're losing by not working with an agent.
When you talk to FSBO sellers, you deal with people who have clarified that they're ready to sell. These are typically people who have had a life change that has made it necessary to sell their property, such as divorce or bankruptcy. These types of sellers often need to learn what they're doing and will need the guidance of a real estate agent to help them get the job done right.
Another type of FSBO seller is the one that is struggling with their mortgage payments and is looking to sell their property to avoid foreclosure. These homeowners are also very motivated to sell and are likely to negotiate.
If you want to work with motivated sellers, nurturing how to find FSBO leads and building rapport with them is essential. During your conversations, focus on what they need and how you can help them. If they can see how you solve their problem, they'll be more willing to provide you with favorable terms. For instance, you can offer them a lower commission or the option of only listing their property on the MLS for an entire period. These offers will make them feel valued and help set you apart. By providing these benefits, you can quickly turn them into a client excited to work with you.
The fact that a seller has chosen to fly solo on their home sale indicates that they are at least mildly interested in selling. And while they may be doing so in a way that makes financial sense for them, they may still need to see the value of working with an agent.
Moreover, because they are separate from the price they get for their property, FSBOs are more willing to accept a lower offer than a traditional seller. As a result, these leads are often easier to close than others.
According to NAR data, FSBOs are typically contacted by agents eight times before hiring one. So if you're diligent with your follow-up (which includes flier drops, phone calls, and annual evaluations), you can make a solid impression in their minds.
Remember other lead generation tactics, like networking and chasing open house leads. But when it comes to FSBOs and expired, be persistent, and remember that a value-based approach is the best way to go. And if you want to save time on follow-ups, consider using an app or service which aggregates sellers' contact information from sources many agents don't use, including public records and real estate websites.
While newer lead-generation techniques like social media and content marketing are gaining popularity, some old-school tactics still work. One of these is chasing expired and FSBO leads. These homeowners are already selling their homes, making them more likely to be interested in listing with an agent.
When calling FSBO leads, the first thing you need to do is provide value. If you try to sell them your services during the first call, they will likely hang up on you. Instead, make your goal to set up a face-to-face appointment with them to discuss their property.
The easier it will be for you to get the meeting, the more value you can offer. For instance, start the discussion by inquiring about what they appreciate most about their residence. By doing so, you'll be able to connect with them and demonstrate your understanding of their requirements.
Offering free resources is another approach to adding value. For instance, you may provide a home valuation or a comparative market report. This will demonstrate that you value their purchase and are willing to go above and beyond to help them accomplish their goals.
FSBO leads are real estate prospects interested in selling their homes without the assistance of a licensed realtor. These individuals often decide to sell their property independently to save money or feel they can do a better job themselves. Real estate agents that can connect with FSBO sellers will have an easier time generating leads and closing deals.
Real estate agents must comprehend that utilizing FSBO leads is a long-term tactic. To make a deal happen, you need to be persistent and patient. You must also have a strategy and follow through frequently. Typically, FSBO leads are still waiting to be ready to work with an agent, and it may take them months or even years to sell their home.
When reaching out to FSBO leads, it's essential to have a script that will help you start the conversation with them. A good script can make your prospect feel like an ally instead of a salesperson attempting to sell them something. You can also use a tool to generate FSBO leads, and many real estate coaches recommend using this service because of its affordable prices, data accuracy, lead management system, and agent training and support.