How To List More For Sale By Owner Leads

2011-04-27T14:20:00.000-07:00

Working with for sale by owner leads doesn't have to be painful. In fact, it's possible to close more transactions if you follow a step-by-step approach to prospecting FSBOs.

Step 1 - Offer Something Of Value

Too many agents focus on themselves rather than their prospects when marketing to FSBOs. You can offer a number of useful tools such as offering them a free report on mistakes FSBOs make, a list of helpful vendors, or free marketing materials to peak their curiosity. The key is to specialize for the FSBO real estate niche so all your marketing materials offer useful tips.

Why do this? Because statistics say that 80-90% of FSBOs eventually hire a real estate agent. By positioning yourself as a trusted advisor early on, you can be the first agent they contact when they decide to list their home.

Step 2 - Follow Up Regularly

Making the initial contact with for sale by owner leads isn't too challenging. Where most agents fail is in follow up. Think about a typical FSBO seller. In many cases, you are dealing with a couple. For instance, the husband wants to sell FSBO while the wife wants to list with an agent. The wife gives in and allows her husband to attempt to sell the home himself for a set period of time - maybe 30-60 days. If he can't do it, they'll consider hiring an agent.

When you contact FSBO leads just after they put their home on the market, the husband's motivation and enthusiasm to sell by owner is high. He knows he can do it himself. As time goes by, he realizes what a hassle selling FSBO is and starts becoming receptive to listing the home with a real estate agent. If you've followed up regularly, you are top of mind and have a good chance of being the agent they interview for the job.

Step 3 - Getting FSBO Testimonials

Once you've closed the FSBO listing, record a testimonial from the seller about their struggles selling FSBO and why they decided to list and add it to your website or blog along with the seller's personal story. This is a great way to show other FSBO sellers how you can help them if they ever decide to hire an agent.

By following these three steps, you can turn more for sale by owner leads into listings, build your credibility in the FSBO real estate niche and demonstrate proof that you get homes sold fast.

How To Find For Sale By Owner Leads on Craigslist

2011-04-27T13:44:00.000-07:00

One way new real estate agents can get business quickly is by prospecting for sale by owner leads. FSBO leads make a great real estate niche for a number of reasons:

Easy to find - Search online, look in your local newspaper or drive around your neighborhood and you are sure to find someone looking to sell FSBO.
Constant supply - Regardless of if the real estate market is good or bad, there will always be people who want to try to sell FSBO.
Expressed desire to sell - By listing their home, FSBOs have already expressed their intent to sell their home.
80-90% eventually work with a real estate agent - NAR statistics say that eventually 80-90% of FSBOs hire a real estate agent to help them sell.

In this article, I will focus on finding for sale by owner leads on Craigslist.

Create a prospecting habit each morning - The first step to any marketing campaign is to commit time each morning to taking action. Schedule 30 minutes each morning to prospect for FSBOs.
Search Craigslist - Choose your city and filter the "real estate for sale" ads to the "by owner" category. Look for anyone who posted a new ad in the last day and pick at least 3 FSBO listings to target.
Reply to ads - For each FSBO you target, send a short email that focuses on the seller. There are two approaches you could take:
- Determining their motivation: "I'm not emailing to ask you for a listing, and I respect your decision to sell by owner. If I had a buyer who was interested in your home, would you be willing to pay a buyer's commission?"
- Offering free advice: "I'm not emailing to ask you for a listing, and I respect your decision to sell by owner. I've put together a free For Sale By Owner Toolkit for people welling on their own that includes < describe benefits >. If you would be interested in this free kit, < tell them how to get it such as visiting your website >."
Preview their home - For those who do respond, try to schedule an appointment to preview their home. The point is to start building rapport, not listing their home that day, so be helpful and friendly. You can also bring along a CMA analysis or anything else that might be helpful.
Follow up - Keep in touch with prospects each week to see if they have questions and stay informed of their home search process.

Real estate prospecting doesn't have to be difficult or complicated, but it does take persistence to find and follow up with for sale by owner leads.

Real Estate Marketing Tips

How To List More For Sale By Owner Leads

How To Find For Sale By Owner Leads on Craigslist