How to get a for sale by owner listing

Question

Hello! I am a new agent and wanted to try and get FSBO listing. Does anyone have any advice on how to? and what to say? I have been trying but no success so far!

Abel Curiel · Answer

Hello @Sarah Esposito!Here is what you want to find out from any FSBO:1. Their name - This way, when you follow up, you are no longer asking "is this the owner of ADDRESS?"2. Is the property still available?3. Why did they decide to list on their own instead of with a realtor?4. DIG DEEPER! Find out if there are any other reasons for them to go at this on their own. * This helps you get all of their objections out of the way5. What are their plans once they sell? i.e. move out of state, 1031 exchange into another property, retire, etc.6. How soon would they like to sell?7. What is their Plan B if they are unable to sell in that desired timeframe?...THIS IS WHEN YOU CLOSE THEM!...Most Realtors will ask 1-2 questions then go for the close and ask "Can I come by the property and show you how I'm different from the 50 Realtors who call you each day?"... DO NOT DO THIS. They don't know you from a hole in the wall and you don't know them either.Instead, you want your 'close' to be emotionally driven by focusing on the 7 questions you asked and reiterating any additional information you've been able to gather during your conversation.Sample close: Mr. Seller, if there was a way that I could help you save on commission, net more money in your pocket and move to Arizona in the next 90 days, would you be interested in hearing more?Keep in mind, most FSBO will require at least 5-10 follow ups until you get the appointment. They are motivated to sell but not motivated to use a Realtor from day 1.Hope this helps!Abel

Dwayne Poster · Answer

FSBOs often have a plan, try to sell until frustration grows, then list with a Realtor. It’s a gutsy plan they should be given credit for. Gauging where they are in that process will guide you in your approach. Don’t be shy in sharing market data with them, after all, they are in the same business as you, even if only for this one time. One thing I want to know is if they cooperate with Realtors. As an area Realtor, I would want to know the area offerings, and a walk through would facilitate that. What is their marketing efforts? Maybe they have a channel that you could discover and adopt. They likely know the power of the MLS, but test if there are any misconceptions. Do they have any special conditions or terms, that might bring on legal baggage. Are they just fishing, or is a deadline looming. Running out the clock is where a FSBOs plan starts to evaporate. I would open up a channel of communication and support, and let them know you are there when it’s time to help. Calling to discuss recent sales is a good way to stay current. Every FSBO has a go to Realtor so you’ll need to practice over coming that basic industry objection.

Jonn Vidal · Answer

With most urban tenants in default since 2020-21 and Courts routinely granting them another year, there's bound to be a high % that remain FSBO since even after u get a FSBO to list, it eventually expires unvisited since most tenants are using covid and now postponed eviction orders to stop buyers/inspectors/appraisers from entering!Thus the new strategy would rely on sourcing cash buyer investors who buy unseen and present those offers to FSBOs rather than just be listing holdover properties that are under indefinite tenant lockdown which is the gross new norm!

Eliott Elias · Answer

FSBO listings are most commonly found on Facebook and just driving around looking for a FSBO sign in the front yard. There is also a tab on Zillow that lists any FSBO properties listed by the owner.

Ivette Guzman · Answer

There are so many scripts and so many ways to do it...ultimately is adding value to them. I role play every week...let me know if you'd like to join.

Bruce Lynn · Answer

I would contact someone like RedX or Land Voice. They have a system to feed you the leads every day, keep track of them, offer the FSBO programs to use, and probably have training for you too. Plenty of other similar providers like this I am sure, but they are a couple of the most popular ones. I would think though in today's market you might want to go after different leads. I think in most markets there are very very few FSBOs. However I know nothing about your market so could be completely different than mine.Another idea is ask your broker. If they are not helping you want to get with a broker that provides training just like this. Where to get business, What to say, how to close them, how to generate leads. Good luck and best wishes.