Question? How do YOU overcome FSBO objections?

Hi Nik - Welcome to the Rain! Read much, comment often and join groups! I'm 99% sure there is a FSBO group - have fun!

Nik, I haven't checked but I don't think there are very many active A.R. agents from TN blogging. I know for myself I'd love to see some localism stuff from there. Don't know a thing about Tenn.

Have you received any responses from any other agents regarding your question? I am newbie and thought that was interesting question. Is it possible if you can share them? Thanks

Not sure if this is the best answer, but give it your best and honest shot and if it doesn't work out then maybe it was for the best, let it go and move on.

I think "overcoming" objections is a myth. I usually agree with the person. "I understand. If I were you, I would want to save money, too." Then, I offer to help by providing a lot of information about what it takes to sell on their own and beat the odds that most FSBOs face. "Most people who try this on their own, wind up netting less on their sale than those with an agent". I don't want that to happen to you. Let me share some ideas I think can help you ... not in hopes of getting your listing, but rather earning your trust in case you ever need to refer someone to an agent that doesn't want to go through the work you're willing to do."

I help FSBOs. If I spot a FSBO, I ask if they would like a lockbox to use or if I could give them literature on how to sell their home. The truth is there are no bad FSBOs. Some do rather well selling on their own, but the vast majority do not -- due to any number of reasons, from the wrong pricing to the mere fact that most buyers are represented by agents. Agents don't generally show FSBOs. Even if the FSBO advertises that he or she will cooperate with agents, most agents are smart enough to figure out that they'll end up doing both ends of the deal for only half the commission and pass it by. Also, buyers who aren't represented by an agent tend to pass by FSBOs because they think the FSBOs aren't flexible in their pricing. They think if the seller can't afford to pay a commission, the seller isn't going to negotiate with them. Some buyers also wonder what is wrong with the property that no agent has it listed, they wonder if the seller is hiding a defect.

But I help FSBOs out because what goes around, comes around. We're all in this business together.

Nik,

There are a number of objections that you'll run into with FSBOs, and they are all usually related to money.  I treat it as a wearing down process, but I always have a couple of dialogs ready.  When you stop by to see a FSBO, the most powerful thing you can do is not try to list them on your first visit - it will actually be refreshing that they don't have to go into a defensive battle with you, and will make it easier for your next visit. 

As you are walking through the house, ask them something like, "where are you planning on going when you sell?", or, "this is a beautiful home, may I ask why you are planning on leaving it?" These questions are designed to help you identify a "problem" and it gives you an opportunity to address that problem.  I don't care how many benefits you come up with for your services, if the FSBO doesn't see that they have a problem, then they won't see your benefit.  In the course of identifying and conveying a problem that they have that they hadn't already thought of, don't be scared to say (this is very powerful, but you have to first hear the doubt in their voice and it has to be said at the right time), "it sounds like maybe you are thinking about using a REALTOR"...wait for response..."If we could agree on price, what would keep you from listing your home with me tonight?"

There are a million things that I've left out in the interest keeping this short and sweet, but putting yourself in their shoes and looking at things the way they see them is a good start. 

Good Luck Nik.

Ben Bailey - Arizona Premiere Living / Windermere Real Estate - www.ArizonaPremiereLiving.com

As long as you know all of the possible objections, you can over come anything.  I usuallu try to address the objections before they bring them up.  Put the objection on the table and then sweep it right off of the table.  I think that a big misconception is that FSBO's are tough and hate realtors.  Remember they want to sell their home.  Stick with them because it usually does not take long for them to get tired of trying to sell it themselves.