Did you know that 92% of home sellers who actively try to sell their homes 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 are willing to sell because they’ve already taken steps to try and list their home. They are more interested in selling their home than many other lead sources.
This nine-step FSBO script will help you list between five FSBOs monthly.
Take these scripts with a grain of salt. Be sure to put your spin on it and make it sound more like you. It becomes less effective if you start sounding like the other Realtors calling and using a similar script to this.
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 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.
Most of the time, they will say yes to this question. FSBOs often 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, 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 selling on your own. But if, for some reason, 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 by selling their home. Act naturally and communicate regularly. You’re not trying to combat somebody when you’re first on the phone with them. You want to build a relationship and rapport with the person.
The middle of the statement introduces the glimmer of a backup plan if they can’t sell their home independently. 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 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 want to come to take a look to give some advice or be a backup 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, 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 lets you show off your background. A Realtor’s resume is their pre-listing package. A pre-listing package looks impressive – it will 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 the phone call.
Step 9: Close Out the Conversation and Confirm the 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 are just letting you go through the house.
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 you have the advantage if you can provide value and be transparent.
There will be a time that you’ll get the phone call, or you may call them again on a follow-up call, and they’ll 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 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 alone. They’re going to need help at some point. You want to be the one 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 must 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 attend about three or four weekly appointments, requiring you to connect with about 15 FSBOs. A “connection” includes getting the seller on the phone. To do that, you must have about 60 phone calls minimum to get to those 15 connections.
If you continue doing this day after day for weeks and months, you will build backlogs of people. Not only will you be getting FSBOs willing to list with you on that first appointment, but you will also start getting follow-up appointments from the people you met months ago.
If you follow this nine-step FSBO script, continuously get FSBOs on the phone, and set appointments with you, you’ll quickly be on your way to listing four to six homes monthly.
Check out the REDX for real estate to get started prospecting FSBOs.
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