Don’t Rule Out FSBOs as a Real Estate Agent
With third-party sites like Zillow.com, it is now easier than ever for people to sell their homes without a real estate agent. No, this doesn’t mean you’re going to lose your job as a Realtor but that also doesn’t mean you won’t have to work for it. With a little extra effort, you can actually convince homeowners who have decided to go with “for sale by owner” (FSBO) to hire you as their real estate agent. Didn’t think this was possible? Well, let me tell you––it is. Here are some tips for converting your first FSBO to a happy paying client.
Show your knowledge, expertise and professionalism from the start.
Right from the start, you already know these people are wanting to sell their homes. Present yourself in a professional manner and show that you are knowledgeable about the surrounding area. The more they feel like you know the market, the better your odds of gaining a new client. This is especially true if you surpass their expectations. For example, you can help them to realize the full potential that the property has to offer so no money is left on the table. Maybe they thought that the home could only sell for $300,000 but you mention that a similar home nearby actually sold for $350,000. Essentially, this is the very first step as these FSBOs will likely not hire someone unprofessional or not well informed.
Find out why they are hesitant to use a real estate agent.
This can be a great starting point to understanding why they have decided to list as FSBO. Of course, you will want to help ease their worries about the reasons they present to you. Basically, these are the factors holding them back from hiring an agent so it’s up to you to change their mind. Encourage them to ask questions so you can learn more about their perspective. The goal here is to get them to really open up to you and have a discussion.
Provide additional value whenever possible.
It really helps to discuss what Realtors do to sell the property beyond what a homeowner can do. Feel free to mention things like increased seller security and coverage in case anything goes wrong. You can also discuss how Realtor contracts are better than the ones available online since specialized lawyers have sealed any loopholes. Without giving away too many of your secrets you can provide suggestions and some insights as to how you would approach the sale of this property. You will want to show them that you’re thinking of aspects that they may have not even considered in the first place.
Be responsive and follow-up quickly.
Keep in mind that it’s necessary to show prospects that you truly do care about helping them sell their property. Homeowners will be deterred if they can sense that you are only interested in your commission check. Try to understand why they are selling their home so you can best serve them. This is your chance to really go above and beyond in order to set yourself apart. You need to disprove any misconceptions they had about agents, particularly through your actions. After all, anyone can talk the talk, but only some can actually walk the walk.
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