FSBOs are a tremendous source of NOW business. Knowing what to say and how to say it are the keys to mastering the dialogues and techniques so you’ll always be able to build listing inventory.
The subject of FSBOs and Expireds and how to handle them (and all their objections) is a frequent flyer on our coaching calls. It’s more important than ever for agents to have the skills, dialogues, and confidence to manage them.
The market is constantly changing, and savvy agents are looking ahead so they can not only stay competitive but lead the pack.
Listen, it’s no secret that we’re a fan of agents working FSBOs and Expireds. With the right tools and training, they are a consistent source of business for agents that are willing to get past the “stigma” that all FSBOs are mean and unapproachable. I laugh when I tell my students that they were all trained by the French trainer Jacques Feezbeau! (Say that with an accent as you read it!)
The truth is, these homeowners are usually very approachable WHEN you have the right rapport and the right questions to ask. I have so many techniques, strategies, dialogues, and analogies to help Power Agents win the hearts and business of FSBOs and Expireds that I could (and HAVE) gone on for hours about how to talk to them! Agents that use my techniques and dialogues average at least three listing appointments out of every four calls to FSBOs. If you’re not hitting those numbers — this is the video to watch!
Mastering The Right Words Is The Key
I start off with this dialogue: “Hi! I’m calling about the house for sale. Is it still available?” When you start this way, you know you are talking to the decision-maker. You also steal the wind from their sails when they learn you are a real estate agent, and they can’t lie and say it is already sold to get out of talking to you once you identify yourself!
Once you get that introduction out of the way, you can move into building rapport. “Well, that’s great! So, I’m just looking at a copy of your ad, and it’s really nice! Did you write it yourself? You did a great job!”
Then you move into the questions, the first set of questions is just like you were any other buyer, and the FSBO will almost forget you are an agent! “I see you have four bedrooms…can I just ask, is that two up and two down? Oh, and it’s a full basement…is it finished? How big is the backyard? That’s great.”
The second set of questions moves you more into real estate agent territory now that you have broken through their guard. “Where are you thinking of moving to? When do you need to get there? Why are you moving?” This gives you an idea of what they are committed to, so you can understand how best to help them.
Once you feel like you have built up enough trust with them, you can ask, “Hey, would you be offended if I just stopped by to have a look at your house so I could see if there is a way I could help you?”
Why You Need Listing Inventory Now
I am constantly telling all of our Power Agents® not to wait to build a significant listing inventory. Get as much new business as you can and be consistent in your “touches” to your sphere of influence. Those agents that do stay consistent can weather whatever comes their way. Make sure you are one of them!
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