This is the Objective of a FSBO Master Agent Coach:
To maximize your effectiveness with FSBO’s and to empower you in the FSBO conversations to increase your FBSO hit ratio.
I’ve prepared a lot of material for this call so rather then getting frustrated by trying to write down everything I say, I’ll ask you to write key points and then my entire presentation will be available for free down load.
- What do you know about FSBO’s?
- What is your mind set about FSBO?
- What do you say to yourself and others about them?
- What are your preconceived notions about who they are, what they are, what they think, their attitude?
- What do FSBO’s they say about you?
- Does that thinking empower you in the situation?
- Does it give you a feeling of freedom with the FSBO’s?
- Therefore are you inspired to pick up the phone?
Our System is designed empower you as a sales person.
They way we do that is to help you redesign your business, your personal life and your mental process to create happiness and fulfillment during each real estate task.
What if calling FSBO’s created a feeling of happiness, excitement, energy, enthusiasm…would you feel more compelled to call?
If you called more would you make more money?
If you make more money would you feel more satisfied?
Would you pay off some debt? Save more? Would that give you a greater feeling of security? Would that reduce your stress?
When you are less stressed, are you easier to be around?
So more people have an easier time doing business with you, right? And the cycle begins again.
Write down three words for me:
- Align you thinking, get on their side.
- Mirror emotions
- Allow them to be right
- Internal verses external
3 Golden FSBO Rules
1. Qualify, qualify and re-qualify by asking lots of questions.
Obviously I recommend that you use our script to find out…
Are they motivated?
Why are they selling?
Do they have to, want to or need to move?
Why are they selling on their own? (Don’t assume its for commission)
What would have to happen for them to list with an agent?
How long will they try on their own?
** If they are motivated then getting an appointment is a function of effective lead follow up.
Most people call once.
2. Selling is solving a problem.
No sale is made unless there is a problem to solve.
No one wants to buy a drill; they want the hole that the drill makes.
A FSBO doesn’t want an Agent.
They want to get their home sold.
They don’t realize they have a problem.
They think they can sell their home themselves with no problem.
Consistently present the problems of selling FSBO and demonstrate how listing with you solves the problem.
a. Four types of buyers.
Just out of curiosity how many calls did you receive last week?
How many of those were from Agents?
That leaves ___ potential buyers.
Out of ___ how many came to see your home?
Out of the ones that came to see your home how many gave you an offer?
Do you know why they didn’t give you an offer?
There are 4 types of buyers…
The first are serious and in a hurry they may be relocating from another city and have 3 days to find and buy the right home.
Or they may be someone who’s home sold last night and today they need to find their replacement home.
Because they are in a hurry do you think they will be with a Realtor or do you think they are reading every ad in the paper looking for fsbo’s?
Agents have 97% of all the homes on the market listed with them and only 3% are fsbo’s so…the more you think about it, the more it makes sense that the serious and in a hurry buyers work with a Realtor…does that make sense?
The second type are serious but not in a hurry…they may be a first time buyer…proceeding cautiously…wanting someone to hold their hand…or…they may be looking for that perfect home….Did you know that last year the average buyer looked at 54 homes before making a decision?
Naturally these people want an Agent to help them, to guide them and make them feel secure…can you see that?
The third type you may have encountered…they are investors or bargain hunters…preying on fsbo’s that are in a hurry to sell at a discount. What’s the only thing they are looking for?
And of course the 4th type can’t afford to buy…and they will never buy….because they are just looking…We call them looky lous.
In fact Agents don’t put them in their cars because they can’t afford to buy and are not qualified to buy.
So you can see Mr. & Mrs. Fsbo if Realtors have 97% of all the properties that are on the market it only proves that the serious buyers are going to work with a Realtor and what kind does that leave for you?
The investors, bargain hunters and the looky-lous. Right?
b. Share the NAR stats with your FSBO.
c. Nordstrom verses garage sale verses an auction!
d. Pay 3% for the buyer (average agent only does 4 deals)
(do you realize you’d be paying that agent 3% to negotiate against you?
e. Do your own market research, use Our Script to discover
1. Who’s on the market
2. At what price
3. For how long?
4. What do they sell for?
5. How many fall apart once pending?
6. How many list with agents at what price?
3. Use Our CMA Presentation to put the price in the buyers hands and out of the sellers mind.
Teach them to read the CMA like you would.
Giving away your power, demonstrates your power.
Withholding your power, demonstrates your weakness.
Weakness must dominate, power allows.
Note from Brian - this is very strong, and if you are developing a script for Lease Purchase, CFD or Sub2 Land Trust, you need to compete with this as an REI.