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How to Woo a FSBO

By
Real Estate Agent with Looking Glass Realty

"Woo - To seek the love of, usually in order to propose marriage."heart

If you were born after 1950, there's a good chance you've never heard that word...but it's a pretty good description of what we try to "do" with FSBOs isn't it? We want to form a mutually beneficial relationship...or marriage. They have already indicated a desire to sell their home...we have the experience, skills, and systems to make that happen. Ahhh Wedded Bliss.

Before we can get to that point, though, we have to get their attention, don't we. And just like dating, it's important to know the best way to communicate during those early stages.

I just read an excellent article in Insight magazine, a publication of the NC Association of Realtors. Among other things it dispels the notion of using letters, post cards, etc. as a way to market to FSBOs. Instead, they recommend going to FSBO oriented websites, find your prospects there, then communicate with them the way they want potential buyers to communicate with them...which is by email generally. The article encourages us to step up our communication technology in all areas of our marketing to include more texting, podcasts, and email and less of the canned programs that are nothing but obvious templates.

It's a new day in real estate and that means being more and more creative as we build those relationships.

If you already avoid the ordinary...and have found success in new ways, I'd love to start a running list of success stories.

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Comments(47)

Carol Clay
Looking Glass Realty - Brevard, NC
Broker/REALTOR, Brevard NC Real Estate Specialist

Terri- in your post you mentioned a safety pamphlet. I'm trying to compile some sort of safety policy for our office. Is that in a PDF form or something you could share??

 

carol clay

Jul 22, 2008 01:48 AM
Terri Adams-Scott
J. Rockcliff, REALTORS - Walnut Creek, CA
Realtor, Walnut Creek CA Real Estate

Carol- I have attached the following information from my safety pamphlet.  Hope it helps and glad to share!

Home Showing Safety Precautions

 

••         Set Daytime Showings

••         Don't let Children show home alone!

••         Confirm appointment's name before letting them into the home

••         Do NOT show home to anyone without a phone appointment first!  (If they knock on your door because of the sign, just kindly tell them that it is NOT a convenient time right now and to please call the number on the sign to make an appointment...regardless of their desperate story!!)

••         Carry your Cell Phone with you throughout the tour

••         When showing rooms, always let the buyers enter the room first (you should at all times keep yourself between the buyers and the door)

••         If showing a basement or underground storage, do NOT go in it with them.

••         Whenever possible, have 2 of you at the home.  While one starts the tour, the other should sneak out to make note of the vehicle (make, model, color and license plate).

 

If you would like an actual demonstration, please call and I'll be glad to come show you.  As Realtors, we have easy access to articles and alerts about safety issues whereas you don't.  September has been established as "Realtor Safety Month" for a good and important reason. 

CAUTION please!

Jul 22, 2008 02:24 AM
Roger V
Swift Marketing - Studio City, CA

Terri - Once again a big thanks for the list & tips. If you want a Movoxo kit (Free) just contact me, your generosity would be great for product development :D

Carol - I'm so busy on product development I missed the Inman link, where did you see that?

Thanks!
roger at movoxo d0t com

 

Jul 22, 2008 02:48 AM
Carol Clay
Looking Glass Realty - Brevard, NC
Broker/REALTOR, Brevard NC Real Estate Specialist

Hey Roger...I'm sorry. I mispoke. I went back to Inman and what I saw was about a company called Movoto.com. 

Terri - thanks for sending this along. I'd like to use the essence of this to create something I can give to FSBOs. Based on everyone's post, I think I'll create a little packet with your safety tips, some info about disclosure and some other helpful advice.

Rain Rocks!

C

Jul 22, 2008 03:05 AM
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Teri, great information.  I'm so glad that I read the comments on this one.  You are a wealth of information.

Jul 29, 2008 07:43 AM
Johnathan Smith
Coldwell Banker DiTommaso Realty - Staten Island, NY

FSBOSupplies.com sounds good but once you show that how you can get them more money you should be in

Aug 14, 2008 02:25 PM
Kathi Presutti
RE:STYLE LLC - Brighton, MI
Re:Style, LLC

Teri, very interesting post! I would think that offering a home staging consultation as part of your marketing would be a good way to convert some FSBO sellers into using a Realtor!

Aug 19, 2008 01:28 PM
Real Estate Guy in Madison, Wisconsin
Powered by: Real Broker LLC - Madison, WI
Real Estate Guy

We have found that the fsbo site blocks our server if we contact fsbos.  

I am setting up a video email system. to "woo" my fsbos, as well as good old calling.

Aug 19, 2008 02:07 PM
Johnathan Smith
Coldwell Banker DiTommaso Realty - Staten Island, NY

fsbos just need to open up and let us help them

Aug 21, 2008 02:23 PM
Roger V
Swift Marketing - Studio City, CA

I think when people are not open, they sniff an ulterior motive. If you can show how helping them is win-win, i.e. you're not just there to hound them for a listing (it may indeed be the case they should list with you, but going in with that agenda won't usually work).

when you think about it, that's the core of sales I think...alignment of agenda.

Aug 21, 2008 02:34 PM
Carol Clay
Looking Glass Realty - Brevard, NC
Broker/REALTOR, Brevard NC Real Estate Specialist

Roger - You hit on something that is so important in sales. No one likes to be sold. I think it's a critical error many folks in sales, whether it's real estate or not, make. I've been on the receiving end of sales pitches that had nothing to do with learning more about my needs.

I hesitated about getting into real estate because I never liked sales...didn't want to sell anything...and didn't think I had the knack for it. Then a good friend of mine who was wildly successful in sales told me something important. He said it isn't about selling anybody anything. It's helping people get something they want. Hmmm..It was a concept I could wrap my head around. I love helping people and now in real estate, that's exactly the approach I take whether it's working with buyers or sellers.

The second point I think too many people miss...especially with FSBOs is learning to listen first and talk less. Most of the time, people will tell you want they want...what they need but if you're doing all the talking, you'll never hear it. Only when you understand their needs can you really address what you can do to help.

 

Aug 22, 2008 06:53 AM
Johnathan Smith
Coldwell Banker DiTommaso Realty - Staten Island, NY

this is crazy, I FSBO is not a pro and does not know everything about the transaction of selling a house like we do

Aug 25, 2008 04:33 PM
Carol Clay
Looking Glass Realty - Brevard, NC
Broker/REALTOR, Brevard NC Real Estate Specialist

Johnathan...you're absolutely right about that. Problem is, most FSBO's "don't know what they don't know." This is especially true if they've never sold a home...ever. It's a lot more than sticking a sign in the ground and waiting for the buyers...as we all know. Then there's the issue of commission. We're working on one now that thinks they'll make more money if they sell it themselves because they'll save the commission.

 

Aug 25, 2008 11:43 PM
Roger V
Swift Marketing - Studio City, CA

Jonathan.. the FSBO video does touch on that they'll usually make more money selling via agent even with net commission, but if you're mentioning that, perhaps it's not clear..did anyone else get that?

re: Sales - I think a lot of people these days try to sell FSBO because they don't know that a short sale exists, so they think they don't have the equity. Others, especially in high value areas see the cost of a commission as too high for the price, which is a simple price vs. value comparison, so selling them is easy: just demonstrate more value.

More commonly, agents think they'll convert a FSBO right away and lack the followup, which is why I preach "the gospel" of send out cards (see free demo www.SendOutCards.com/rogerv (click red button to send a free card)) to send postcard A on day 1, postcard B on day 14, C on day 45, D on day 73, etc. - any pre-made campaign that automatically keeps track and automatically reminds you to call them on certain schedules to "check in".

Later this week we'll have the full version of www.FSBOsupplies.com up with a virtual host actress, post-it notes, "bounce" prevention, live chat, and we'll be SELLING the kit. Why? Well, easy money for sure, but more importantly, people value what they pay for..so we'll be partnering with agents to sell it to their market, and selling leads for markets where we don't have a subscriber.

Aug 26, 2008 02:41 AM
D H
Beaverton, ON

Carol's post on 8/22 hit the nail on the head. 'No one likes to be sold'. '...listen first and talk less'.

Gather around kids, I have a story to tell.

In 400 B.C., the time of Socrates, a sales manager Crito and his salesperson Darius, were returning to Athens from a call.  

Darius could not stand the silence any longer. "Well, how'd I do?"

Crito: It did not go well.

Darius: But I told them everything. I didn't leave anything out.

Crito: You did not start the meeting right.

Darius: What do you mean? They asked me to start, so I told them everything about our company.

Crito: And you didn't end the meeting right.

Darius: What do you mean? They said they would think it over. They could not make up their minds.

Crito: And the middle part of the meeting did not go well either.

Yes, Darius really knew his stuff. He spent the whole meeting talking. In fact, he talked too much.

Crito: Darius, you are going to learn the Socratic selling method.

So you are wondering who Socrates is. And I'm sure you are scratching your head wondering what this comment is all about. Take this as a tip. Buy the book ' Socratic Selling - How To Ask The Questions That Get The Sale'. Written by Kevin Daley. It runs around $20.

This will be the best money you will ever spend. You will learn how to listen 80% and talk 20%.

Hope this helps.

Aug 26, 2008 09:08 AM
David W. Bolick
Network Real Estate, Inc. - Little Rock, AR

Very interesting post and comments.  I started working PRESELECTED FSBO's about 11 years ago and have had great targeted success using 100% concern, free services and advise and developing a friendship.  I can't recall one FSBO I visited with in person that ever sold their own home and I can't recall but a small handful that didn't list with me using one of my "options" available.  I see I might need to set up a blog about the system I use, but I can tell you...those of you that provide genuine service, help and assistance are the one's that have figured it out.

Aug 26, 2008 11:46 AM
Tim and Pam Cash
Crye-Leike (Sango) - Clarksville, TN
Real Estate Professionals - Clarksville TN

I have attempted both personal visits and the email approach - the only response we ever got was from an FSBO that stated 'It don't take a rocket scientist to sale a home'.  I thanked them for their response and moved on. 

Aug 26, 2008 11:59 AM
Carol Clay
Looking Glass Realty - Brevard, NC
Broker/REALTOR, Brevard NC Real Estate Specialist

David - it sounds like you've fine tuned a system that is working for you. If you do set up a blog about it, be sure to let me know. I do believe that the best approach is to offer some free advise, some services and to above all, respect. Before I got into real estate I bought and sold a number of homes myself. The difference was, back then, buyers were everywhere and it didn't take a lot of effort to sell a home. Today it's a whole different story.

Keep me posted on your ideas.

Thanks -

Carol

Aug 26, 2008 02:26 PM
Stacy Walls
Keller Williams Realty - Woodstock, GA

One method I have used with FSBOs (not sure if this has be mentioned or not) is to try to convert them to buyers.  This gives you an advantage over other agents because you are not actively trying to list their home and they are more willing to talk to you.  This method has been very successful for me!  In many cases I have gotten the listing too!

Stacy Walls

Aug 26, 2008 02:39 PM
Roger V
Swift Marketing - Studio City, CA

Stacy: what an excellent idea! "hit 'em where they aren't" ... that's one for the notebook.

Aug 26, 2008 04:01 PM