You need to have a strong marketing strategy to make sure you’re staying ahead of your competition. Why not take some time out of your prospecting to tap into a lead source that is not often sought after? We’re talking about FSBOs!
Our FSBO strategy will help you accomplish two key things:
- It will help you build out your Listings Portfolio
- It will create an opportunity to generate a new listing contract
90% of FSBO’s are not able to complete the transaction on their own because they tend to price themselves out of the market and they have very few resources when it comes to marketing their home successfully. While that’s a bummer for the seller, it creates an amazing prospecting opportunity for you to swoop in and save the day!
This strategy is designed to help you generate a listing contract when a FSBO has been on the market for a while but is yet to sell. Keep in mind that this strategy is not exclusive to FSBOs – you can also use it for expired listings or any traditional listing presentation.
Prospecting a FSBO Step 1: Offer a FREE service
Go to craigslist, click on “Real Estate for Sale” under the housing category and select “By Owner” at the top of the page. Find a listing you like and note the sellers contact information.
Once you identified a potential FSBO, call them and offer them the following services:
- A listing page on your website
- Free Listing Emails to all your book of business
- Syndication to Trulia
- Exposure on Facebook, Twitter and other social sites
- A Craigslist marketing program
Prospecting a FSBO Step 2: Set an appointment
The FBSO is going to be blown away by the fact that you’re offering to provide all of this advertising for their listing free of charge – so of course, they’ll accept your offer. Now it’s time for you to set an appointment to go over all the details. Think of this appointment as a Listing Presentation – although you are not officially listing their home at this time, keep in mind this strategy is designed for you to eventually get the listing contract.
Prospecting a FSBO Step 3: Get your stuff together
Prior to your appointment, drive by the home and take four or more pictures of the exterior of the home, or if the craigslist photos are a good quality, you can use those. Put together a great sounding simple description and add dd the listing to your website. Click here for instructions
Prospecting a FSBO Step 4: Sell your services
Here’s the goal:
- Sell your services – focusing heavily on your marketing strategy
- Get your prospect to start marketing their home immediately
The first step is to show off all the features and benefits of your services and to emphasize the difference it will make to have you as a resource compared to what can be accomplished by going it alone. Show them the page on your website, how clean it is and how nice the photos look. Then, show them the craigslist ad you can automatically generate to get leads back to the site. Don’t forget to highlight the additional listing exposure they’ll get when their listing is posted on Trulia via your syndication field. You can provide a full service marketing solution designed to sell that home! The best part? You only have to do 15 minutes of prep work and set a 30 minute appointment. A sale is a huge payoff for 45 minutes of leg work!
Prospecting a FSBO Step 5: Get Referrals
Now it’s time to get referrals and generate exposure on THE most traveled website in the world: Facebook. Deliver the bold statement: “Let’s start marketing your house immediately!” The FSBO will be excited to work with you. Direct them to do the following:
- Hover the mouse over the Share button under the listing address
- Click on the Facebook Icon
- Log in to their Facebook account
- Type in a short sentence about their property “Great house seeks family to make it home”
- Share the link
At this point – you just got business exposure on your FSBO’s news feed and are visible to their friends, family and acquaintances and your FSBO got valuable marketing for their home and potential leads. At this point, it’s time to ask for the listing.
Alright now you’ve got a simple strategy that will allow you to turn a motivated seller into a listing contract. What are you waiting for – give it a try!