Statsica is reporting that 6.27 Million homes are projected to sell this year. And, the NAR’s Home Buyer and Seller Generational Guide reported 8% of all homes listed were FSBOs. If you do the math, that is over half a million FSBO leads this year in the US alone.

Converting FSBO leads can be very lucrative for listing agents. The trick is knowing how to talk to these niche sellers, understanding their objections, and knowing how to present the value  that real estate agents add to any real estate transaction. In this ultimate guide for converting FSBO leads, we will look at the #1 secret for understanding FSBO sellers and how to quickly win them over. Be sure to check out our free FSBO script, too.

Free FSBO Leads

The first thing real estate agent’s will need to start capitalizing off of FSBO sellers are leads. Agents farming their area usually come across these listings naturally. Other free, useful options include:

Zillow’s “Make me Move” option
ForSaleByOwner.com/FSBO.com
FSBO seller groups on Facebook
Craigslist FSBO Real Estate Listings

Show, Don’t Tell!

Most FSBO sellers have decided to sell their home independently because they believe it will save them money by cutting out the middleman. Thankfully, this is factually untrue.

We’ve all heard the stat that homes sold by agents close for 13% higher than FSBOs. NAR reported that sellers with an agent gain were average of $60,000 dollars more! It’s crazy that 39% of FSBO owners don’t want to list with an agent because of the commission. Even after the agent’s cost, they are still losing money.

The number one thing agents should not do is tell FSBO sellers this information! These sellers don’t want to hear it. In fact, it will make them dig their heels in even more. Instead, the trick is to show them your value.

FSBO conversions are a different animal than traditional sellers. It takes time and savvy to get their listings. But the truth is, the competition to win them over is a lot lower, which makes FSBOs great listing opportunities.

Show FSBO Sellers Your Value

The number one secret to winning over FSBO sellers is to show your value. Never tell FSBO sellers about your value, always show them.

When first approaching a FSBO seller, it should be as a Realtor who wants to help them sell their home. The way to show FSBO sellers your value is by asking if you can bring a client by or spread the word to your network about their property. If the FSBO seller has already been hounded by other listing agents, you will appear refreshing. In any case, they will be grateful for the free networking.

Offer Marketing Pointers

Being personal is key. Remember, these leads don’t want to be pitched. Instead of telling FSBO sellers about your perfect marketing plan for any listing, show them. Ask to see the property.
While they show you the property, give them some freebies about staging, photography, and complement their home. You may even offer them a free service like Single Property Sites or recommend an industry photographer. Don’t worry that your tips will lead to a sale, the stats show that they won’t. It’s also a good time to try and find out how quickly they need to sell.

Show Their Need for Legal Expertise

Allow for a week or two to lapse between reaching out. Stop by one last time, to show them one of their greatest needs: legal expertise. Share with them some of the legal paperwork or local contracts they will have to go through should they sell.

It’s easy to say you had an extra copy and didn’t know if they would want to check one out. Explain that it is really helpful to familiarize yourself with the documents well before the time crunch of closing. If it’s their first look, their eyeballs will be popping out of their heads.

Offer your email address should they need anything else and encourage them in the sale of their home. Praise them for their efforts.

Timing

Patience is the best practice at this point. Schedule a check-in for a month out, and let them simmer. Chances are, they will come to you sooner rather later. Some FSBOs take longer to come around than others, but when they finally do cave, they will remember the one agent that helped them and showed their value, not the ones that pitched them their listing presentation or spewed stats at them.

By always be the first ask questions and the first to listen, agents can stand out to FSBO sellers. The key is to tangibly demonstrate the value that an agent can add, always showing and never telling. By following this one secret, agents can convert FSBO leads into listings.

The post The #1 Secret to Converting FSBO Leads appeared first on Real Estate Marketing and Property Marketing Blog by Single Property Sites.

Over 400 homeowners were surveyed on whether they used a REALTOR to sell their home or if they went the FSBO route. The results concluded that 66% of sellers who used an Agent were successful, compared to only 30% of FSBOs.

Of those surveyed who sold their home using a REALTOR, a whopping 89% responded that they would use a REALTOR again with their future buying and selling needs. On the other hand, 90% of FSBOs who sold their home said they would do it on their own again the next time.

“The value of a REALTOR in a real estate transaction is made strikingly apparent in our 2012 FSBO vs. REALTOR survey of home sellers,” said Louis Cammaroano, General Manager of HomeGain. “A qualified REALTOR understands the dynamics of the market and can better assist home sellers in the pricing and preparation of their homes for sale.”

Click here to learn how to increase exposure of your listings and dominate your real estate market.

The post Home sellers twice as likely to sell home using REALTOR® than going FSBO appeared first on Real Estate Marketing and Property Marketing Blog by Single Property Sites.