There are a variety of client types who gravitate toward DIY home sales, and convincing them to let you represent them takes more than a firm handshake.
“I’ve had some [clients] think they’d try on their own, even for a week or two, then they’ve had enough,” William Lafferty, an agent in Calgary who offers free seminars on generating leads from FSBOs, tells REP. “Then you can have other people who have to try it for two or three months before they decide to go with a Realtor.
“They focus so much on the commission and they lose focus on the most important thing, which is to sell the home for the highest price.”
Here are Lafferty’s top three tips for grabbing a FSBO listing.
1 – Have the right prospecting approach
Every agent needs a prospecting system that works for them – whether that’s in person, over the telephone or via email. But farming FSBO listings takes a lot more care than typical lead generation.
“It’s important to have the right prospecting,” Lafferty says. “It would be different from regular listing.”
2 – Know your real estate facts
Educating the client is still a big part of the business. With FSBO clients, especially, it’s important that you show them your expertise.
“What we’re there to do, with every prospect, whether FSBO or a first-time seller, [is] to provide good information so they can make a good and well-informed decision,” Lafferty says. “Share the most up-to-date and reliable real estate information.”
3 – Focus on the seller’s needs
Most sellers who go the FSBO route falsely believe that all agents are there to collect an inflated commission. Prove to these clients – and to all clients – that you’re more than a cash cow.
“Have an unshakable belief that you’re there to help them,” Lafferty says, pointing to their inefficiencies. “As a FSBO, their way of selling is problematic.”
