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Are you hesitant to call for-sale-by-owners because you think they don’t like real estate agents? I built my business working with them, and they’ve turned into lifelong friends, referral partners, and advocates for my business.
When I started in real estate, I thought I wanted to sell real estate, and these people, the for-sale-by-owners, also wanted to sell real estate. I saw them as the first group of people I should get to know and introduce myself to.
I didn’t realize many real estate agents are afraid or against calling FSBOs, thinking they’re not wanted. It’s not personal; they’re just overwhelmed with sales calls from agents trying to get their listings.
I’m telling you that If you want to sell homes and aren’t talking to FSBOs, you’re missing a huge opportunity. I’ll share different approaches I’ve learned from working with them.
1. Establish a relationship. FSBOs usually list their properties within 45 days from when they first put them up for sale. Instead of trying to make a sale on day one, focus on building a relationship.
Get to know them and understand how you can help them reach their real estate goals. You can’t do this without calling, having a conversation, or hearing them out. If you offer value first, you’ll find that even if you don’t get this particular sale, you will build a relationship that can lead to other opportunities.
By being a helpful consultant and advisor, you may discover referral opportunities or other ways to assist them, regardless of whether you secure the listing at that moment. Don’t assume they don’t like you; it’s all about the approach.
2. Be patient. On average, FSBOs take about 45 days before listing with a professional real estate agent. Some take longer, while others move faster. The goal is to support them, provide value, and remember to follow up, just like any other lead source.
Not every lead converts on the first call; it usually takes 8 to 12 connections to convert a lead, and this is no different. So, come up with a plan to stay in touch and share valuable information. That way, when they decide that they need an agent, you will be the first person they think of.
3. Be honest and professional. If you don’t have a buyer, don’t claim you do; that’s being dishonest. Instead, introduce yourself as a local real estate professional. Tell them you sell a lot of real estate, and especially in the low inventory market we’ve been in, you like to keep up with all properties for sale, both on and off the MLS.
I used to carry a binder to show FSBOs that I was genuinely tracking off-market listings. This way, if I find a buyer in the future, I have options ready for them.
It’s important not to lie or come off as overly salesy. Just be professional and recognize that these are sellers trying to sell their homes. Building trust and credibility is key to establishing a positive relationship.
Many FSBOs think they can save money by selling on their own. However, most FSBOs tend to sell for less than properties represented by Realtor®.
Continue to focus on earning their trust and showing them the benefits of working with an agent. Earning their trust means being empathetic and professional. Walk alongside them and provide value.
I hope this helps you see FSBOs in a different light. If you have questions or want to incorporate this into your business, call me at (360) 560-1156 or send a message to jacqueline@evergreenrealestatepartners.com, I’m here to help.
I look forward to connecting with you.
Apply now to join our team! The support and tools you need to advance your real estate career. Partner With Us
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