Let’s face it; dealing with For Sale By Owners (FSBOs) can be an uphill task – irrespective of whether you are a newbie or a seasoned veteran. After all, FSBOs are home sellers who don’t feel the need for your services as a real estate agent/broker.
On the bright side, however, FSBOs can be excellent real estate leads. First of all, you already know that they are willing to sell their houses, and if possible, QUICKLY! They are homeowners outright shouting, “We need to sell our homes NOW.” It doesn’t get better than that, right?
Should You Go After FSBO Leads?
Usually, the primary reason why most sellers choose to sell their properties themselves has nothing to do with real estate agents. Don’t get it twisted: they don’t HATE agents per se…they don’t just feel the need to hire one.
Never assume that FSBO sellers don't want to work with you. Instead, view them as clients who haven't realized the value of an agent just yet.
If you can demonstrate the value you’re bringing to the table; the higher the chances are FSBOs might be interested in working with you. It might not be right away, but maybe a few weeks or months down the line.
But how do you convince this tough crowd to give you a shot? It’s simple; Excellent FSBO scripts!
Let me guess…you’re confused about what to say when you lift that phone to cold call a hot FSBO lead. Don’t worry; we have you covered! Whether your real estate leads are ready to be closed or just warming up, these top FSBO scripts will always get the job done.
FSBO Script 1: Setting an Appointment
The end goal for calling FSBO leads is to get a listing appointment. First, introduce yourself well; then demonstrate your expertise – show them why they need your services (Avoid the hard sell here).
“I have years of experience helping different homeowners sell their houses in [your area], and I understand the local market very well.
Would you be open to working with an agent to sell your property? Terrific! Can I set up an appointment to view your home?
I will show you different marketing options you can exploit and help you come up with a competitive price for your home.
How does Tuesday, 4:30 or 5:30 pm sound?”
FSBO Script 2: Sellers Who Have Had a Bad Experience with a Previous Agent
One of the reasons why a seller might be attempting to sell a house by themselves could be a previous unpleasant experience, and they might take that out on you. To win their trust, you need to squelch their fears and explain that all agents are not the same. Give them an exit strategy offer where they have nothing to lose.
“Let me give you a listing agreement offer. If you work with me and find out anything I am doing that you don’t like, I will cancel the listing immediately. No questions asked.
Because you know what? I’m confident that it won’t happen. Nevertheless, I am willing to give you that backup option.”
FSBO Script 3: Sellers Working with Close Friends/Family
You have probably heard the adage “Mixing business with pleasure”. It can never be more accurate when it comes to real estate transactions. Make sure you point this out when calling these types of real estate leads.
“That is excellent if it can work out, and all the best. But that can affect your relationship if maybe there’s a problem during the transaction. At times, it might be better if you used a neutral person outside your circle.”
FSBO Script 4: Sellers Who Aren’t Willing to Pay Commission
For most FSBO listings, the aim is to maximize their profits. Most agents dread this kind of objection. Show your real estate leads that they won’t be losing any money by working with you. Make it clear that they might even net more money working with you than working alone.
“I clearly understand that you require every dime to purchase a house in [their next location/zip code]. Right?
What if I helped you sell your house in the next 30 days, have you net the same amount or even more, get you to [next location], work on the offers and all transactions without any headaches, would you be willing to work with me?”
FSBO Script 5: A Seller with A Buyer
In most instances, sellers who already have buyers might decide to fly solo. For these kinds of FSBO leads, show them the value you can offer during the selling process. The paperwork involved during the transaction can be overwhelming, and they might need some help from an agent.
“Congratulations! Please note that a real estate professional will help you with all the transactions. Above all, you will be covered by errors and omission insurance – you don’t have to worry about E&O claims in the future.
If I help you get close to what you’re currently netting, would you be open to working with me?”
While FSBOs can be tough, remember, these are homeowners that have already decided to sell. All you need to do is educate them on why listing with an agent can actually benefit them in the long run. According to NAR in 2018, the typical FSBO home sold for $217,900 compared to $295,000 for agent-assisted home sales.
Another advantage is you already have their contact information readily available, so find their phone number and make that phone call. This is a great strategy especially if you are a newer agent. And on top of it all, it's pretty much free.