Did you know that 92% of home sellers who actively try to sell their homes by themselves end up listing with a real estate agent anyway? You’ve probably heard a lot about FSBOs, but they are a valid source of real estate leads.
FSBOs have shown a willingness to want to sell because they’ve already taken steps to try and list their home. They have a higher interest in needing to sell their home than many other lead sources out there.
This nine-step FSBO script will help you list between five FSBOs every single month.
Take these scripts with a grain of salt. Be sure to put your spin on it and make it sound more like you. If you start sounding like the other Realtors calling and using a similar script to this, it becomes less effective.
Step 1: Introduce Yourself
“Hi, this is Kyle. I’m a Realtor here in San Antonio. How are you?”
Start with a simple introduction. Be upbeat, friendly, and positive. You will get all sorts of emotions from people on the other end – they may be happy, sad, upset, etc. Be ready for whatever comes at you, but try and stick to the script.
Step 2: Ask If They’re Interested in a Buyer’s Agent
“Oh, that’s awesome. I saw that your house just went up for sale, and I know that you’re selling it on your own, but I just wanted to know if you’d be open to working with a buyer’s agent if they can bring you a fully qualified buyer.”
There’s no B.S. here, no bait-and-switch tactics. You’re not guaranteeing you have a buyer or buyers interested, just looking to see if they’re open to working with a buyer’s agent.
The majority of the time, they’re going to say yes to this question. FSBOs often just don’t want to pay the entire commission, but most are willing to pay a buyer’s agent commission. If, for some reason, they say they’re not ready to pay a buyer’s agent commission, probe and ask them for more information. Let them talk about their situation.
If this person is having a bad day and just not having it, just move on to the next person. In my experience, over 80 percent of the time (maybe even closer to 90 percent of the time), they will say that they are willing to pay a buyer’s agent.
Step 3: Get More Information on Their Situation
“Okay, great! Have you already moved, or are you still living in the home?”
This question and the next question help you find the FSBO’s motivation and what they’re trying to accomplish, their urgency, time frame, etc.
Step 4: Ask About Future Plans
“Okay, got it. So, where are you off to when the home sells?”
This question also helps determine motivation, time frame, and when they need to get this home sold. Asking these questions also builds rapport and trust as you ask questions about their scenario.
Step 5: Surprise Them With “Reverse Selling”
“Very cool! And I’m sure with the market being so good right now; you’ll probably have no issues with selling on your own. But if for some reason, if you’re not able to sell, you’re probably not going to be looking at other options for at least a few weeks, right?”
This phrase uses “reverse selling” and is where you’re not trying to combat the FSBO but appease their thoughts with selling their home. Act natural and communicate regularly. You’re not trying to combat somebody when you’re first on the phone with them. You simply want to build a relationship and rapport with the person.
The middle of the statement is to introduce the glimmer of a back-up plan if they can’t sell their home on their own. Usually, this one catches them off guard, and they will go back and forth with you. They’ll start to lighten up, which leads to the next phase.
Step 6: Schedule a Face-to-Face Meeting
“Makes sense. Well, I’d maybe like to stop by one day this week to take a quick look – either before or after I head into work. What usually works better for you? Mornings or evenings, if I can come and take a quick peek?”
This step is where you get into that assumptive close. You’ve built some rapport with the seller, and you haven’t been overly pushy. Because they now trust you, they will more than likely tell you “mornings” or “evenings.”
They’ve already established they would be willing to pay a buyer’s agent commission. This phrase indicates you just want to come to take a look to give some advice or be a back-up plan.
Step 7: Give a Specific Date and Time
“Okay, I’ll tentatively put you on my calendar for tomorrow at 4 p.m. If I need to change that, I’ll give you a call. Fair enough?”
Move the conversation forward and take charge by giving them a specific date and time. This way, there’s no escape route or chance for them to tell you no. If, for some reason, that time doesn’t work, they’ll let you know. Otherwise, you’ve just given them an easy, yes.
Now, just jump into the second-to-last phrase, and you’re almost done.
Step 8: Get the Email Address
“Perfect! I’ll send you a quick email with my resume and contact information. What’s a good email address for you?”
This question gets additional contact information from the FSBO and gives you the chance to show off your background. A Realtor’s resume is their pre-listing package. A pre-listing package looks impressive – it’s going to definitely wow these FSBOs, and you never know the reception you may get when you go out to the home and meet them in person.
Finally, you’re just going to finish out the phone call.
Step 9: Close Out the Conversation and Confirm Details
“Perfect! I’ll send you a quick email, and I’ll plan on seeing the home quickly tomorrow around 4 p.m. Thanks so much!”
That’s it. You’ve set your first FSBO face-to-face appointment! Keep in mind that this is not a listing appointment; however, be prepared for whatever might come at that appointment, which is:
When you get there, the seller wants nothing to do with speaking to you, and they genuinely are just letting you go through the house.
Two, the seller wants to talk with you the entire time and may even ask your opinion.
What to Do When You Get to the Appointment
Be as helpful as you possibly can. Don’t worry about getting the listing. That would be a great outcome, but if you can provide value and be transparent, you have the advantage.
There will be a time that you’re going to get the phone call, or you may call them again on a follow-up call, and they’re going to tell you that they want you to list their home. This scenario may happen that day, or it may happen three months later. The results are all in the follow-up.
Be prepared when you go to the home. Come with a detailed CMA, so you seem knowledgeable about the area, and bring a seller’s disclosure if they don’t have one. Check out my other post if you don’t know how to do a CMA.
Don’t be afraid to take your shots and mention things like showings and something that would interest them in listing their home with you. But don’t be pushy – you don’t want to lose your reputation or lose credibility from that great relationship you’ve built.
Don’t oversell. Most of the time, the FSBO will not sell the home on the market by themselves. They’re going to need help at some point. You just want to be the one that they feel most comfortable with, so you get that business.
Figure Out Your Market and Get 60 FSBOs on the Phone
You’ll need to figure out how big a market and area you need to focus on getting 50-60 FSBOs. This radius could mean the entire city or just a zip code. It depends on your area and how big the business is.
Ideally, you want to go on about three or four appointments per week, which will require you to connect with about 15 different FSBOs. A “connection” includes getting the seller on the phone. To do that, you need to have about 60 phone calls minimum to get to those 15 connections.
If you continue to do this day after day for weeks and months, you’re going to be building backlogs of people. Not only will you be getting FSBOs willing to list with you on that first appointment, but you’re going to start getting follow-up appointments from the people you met with months ago.
If you follow this nine-step FSBO script and continuously get FSBOs on the phone and setting appointments with you, you’ll quickly be on your way to listing four to six homes every month.
Check out the REDX for real estate to get started prospecting FSBOs.
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