Mastering the art of selling FSBO listings can be quite the challenge. FSBOs, or better known as For Sale By Owners, are homes that are being sold without the assistance of a Realtor®. These can be tricky, but there is one agent who found a way to use FSBOs to build his business – Jim Remley.
Remley, who got his start in real estate at the early age of 19 years old, was listed in the top 1% of Realtors® for listing 150 properties in a 12-month period. Remley went on to figure out how to use FSBOs to grow and conquer as a Realtor®.
How to Be Successful with FSBOs in 4 Steps
Remley found that there were 4 steps for successfully converting FSBOs to clients. He discovered he could get 92% of homeowners to list with a Realtor® with these four steps:
- Make Contact
- Build Rapport
- Provide Value
- Follow Up
When you are out working in your neighborhood and see that FSBO sign, Stop. Drop. Knock. Stop the car, drop what you are doing, and knock on the door. This can build a direct relationship between you and the homeowner. It will also make you look dedicated to the success of your potential client.
When making contact, Remley says to be as personable as possible. Do not make the first contact about how you can make them money. Remley says that when he first makes contact, he introduces himself and asks questions about why the potential client may be listing the home. And of course, you should ask if you can bring any clients who are looking for a home like the FSBO to view the house.
When building rapport, or a relationship with the FSBO, make sure you have their best interest in mind. Remley suggests keeping an interest in the home and making sure that you do not come off as if you are doing this for your benefit. This will take hard work, but you will be getting closer to assisting them with selling their home.
Providing value to the potential client includes many different factors. One great resource you can share is an understanding of the listings around the area. Don’t be afraid to give marketing advice – this can be a great way to demonstrate how they could use your help as a Realtor®.
Continue to follow up with the potential client by making sure they do not need any assistance or tips. As mentioned before, share local listings and where they may stand in the current market with listing the home.
Selling FSBO’s can be difficult, but with hard work and dedication to your clients, you can continue building your business to be successful, even with FSBO’s. For more tips and information on building your business using FSBOs, click here, and be sure to register for our next webinar featuring Brian Copeland. He will be discussing Creating a Flexible Brokerage For Tomorrow’s Leaders.