3 Ways to Shift Your Mindset & List More FSBO Leads
by Chett Coombs, on July 3, 2017
When contacting FSBO owners, you may be tempted to convince them of all the reasons why they’re in way over their heads and why they need you as an agent. It’s easy to think they need a mindset shift. But turn your attention inward and make a few changes to your approach, and you’ll be surprised by how many FSBO clients you’ll add.
Capitalize on Your Value
The value of an expert real estate agent is becoming increasingly accepted by home owners. In fact, there has been a downtrend of FSBO sales since 2003. The National Association of Realtors has reported the number of agent-assisted sales has consistently gone up and only 8% of home sales were FSBO sales in 2016. This is due to the intangibles an agent brings to the table, like pricing information, negotiation skills, staging know-how, marketing expertise, and more.
Although FSBO sales are down, they’re not gone altogether. There’s still an important share of sellers that you can convert to clients. A FSBO homeowner is choosing to sell their own home because they want to save money and get top dollar. They likely don’t see the value of a real estate agent. You can show them your professional value by following a few simple tips and shifting your mindset.
Acknowledge Their Concerns
Before pitching your value to potential FSBO clients, we suggest making a slight shift in your mindset and put yourself in their shoes. Consider why sellers think they can be successful listing their home on their own. Have they had success in the past with selling their own home? Do they feel confident in their sales negotiation strategy?
Approach each FSBO you talk to with a willingness to learn about them, and you’ll be surprised where the conversation goes. They just might start opening up about their vulnerabilities and where they feel they need help.
That’s not your moment to pounce on listing their home. That’s your moment to respectfully acknowledge their legitimate concerns, and then offer helpful solutions and suggestions, even without the expectation of getting client in return.
As you resolve concerns and show—not tell—your value as an agent, FSBO homeowners will begin to see on their own your professional value, without you ever having to sell it to them.
Use Your Agent Resources
When FSBO homeowners are approached (endlessly) by agents looking for their business, all they see is a blinking neon sign flashing “Give me 6% commission!” Yes, the commission is great, but there are ways your relationship with FSBOs can be mutual, without ever listing their home.
There are tons of great real estate products and subscription services available exclusively to real estate professionals that FSBOs don’t have access to. Offer to help FSBO homeowners using your agent resources, even if they don’t directly list with you.
One such product is Call Capture. You can get your foot in the door with FSBOs when you use Call Capture because you can make a unique 800 number available to them for marketing and sales calls. When you offer this service to FSBO contacts, you are offering a product that will genuinely help them in selling their home, and then you can market to FSBOs without ever selling to them. [Inbed Call Capture video]
People like genuine people. It’s a trait that is valued because it creates a bond and a connection between people. When you listen more than you speak and create a genuine connection with potential clients, your sincerity will pack a bigger punch than your sales pitch. They won’t likely remember every word you said, but they’ll remember how you made them feel.
If an FSBO homeowner can tell that you genuinely want to help them, they will trust you as an agent. That trust is key in helping them make the decision to list with you and will carry on when they refer you to their friends and family members.
Creating a connection is the capstone that shows FSBOs your value. When you acknowledge their concerns, and then resolve those concerns by offering genuinely helpful solutions, you’ll create a reputation for yourself that will far precede you as you look to convert more contacts to clients.
Landvoice offers subscription services to get you over the hump from prospecting meaningful FSBO listings to doing business entirely from happy client referrals. Bundle subscriptions and save—not only time, but money. Landvoice is the one provider you need that offers services that send FSBO and expired leads directly to your inbox, and Call Capture, which gives you unique, unlimited phone extensions that capture potential buyers’ information and sends the contact directly to you via text message. Choose Landvoice and you’ll save valuable time that you can dedicate to taking your business to the next level.