Last Updated on April 7, 2017
Submitted By Linda Fogarty, Managing Broker, Coldwell Banker
This article appeared in a past newsletter, but because it was so good (and I want to get it into our archives for more agents to see), it’s making a second appearance…
Linda recently submitted a proven idea she’s used to capture FSBOs in her market. It’s a winner if you decide to use it in your practice. Here’s her idea (in her own words)…
“I have found a sure-fire way of getting FSBOs to work with me. On Friday’s I go through our local paper and the FSBO web site and pull all the “open house” notices in the paper (with phone numbers and addresses) in the areas I’m working. I start making calls to the FSBO’s. My conversation goes like this:
Hi, My name is Linda Fogarty and I’m a real estate broker with Coldwell Banker. I noticed you have your house on the market (NOTE: I DO NOT TELL THEM I KNOW THEY’RE HAVING AN OPEN HOUSE), and I like to stay on top of the market and was wondering if I could preview your home.
Nine times out of ten the FSBO will be more open then any other time. They are getting their home ready for an open house and are afraid no one will show up. So they usually respond by telling me they are having an open house so I can come over then.
I respond with, Oh, I would love to but I’m having an open house myself, could I come over AFTER my open house? They always say, “yes”. The reason I don’t go over during their open house is because I want their undivided attention. I continue to call FSBO’s in the same general area until I have 3 appointments.
When I arrive to their home, I start asking questions about their open house and of course my open house was always better. I am building rapport while I’m looking through their home and noticing they don’t have brochures (and I just happen to have a copy of one of my beautiful brochures of my listing), or they don’t have a seller’s disclosure, or sign-in form, etc. In essence, I become their helpful REALTOR®.
During the next few weeks, I drop by with helpful articles that I read and thought might interest them, or I drop off forms I think they might need, or I do a market analysis for the neighborhood and go over it with them.
I have created 10 weeks of “stuff” in files that gives me another reason for going back to them again as a “helpful REALTOR®“. I rarely or never ask for the listing. In most cases it comes right to me. Why?
Because most agents I know who prospect FSBO’s give up after the 1st or 2nd try. My average number of contacts with the FSBO is FIVE! I get most listings by the 5th visit, but I don’t give up even if it takes TEN visits. When they’re ready to list, I’m getting the listing.
Thanks for sharing, Linda. I don’t think there’s any agent reading this who couldn’t immediately start using your system. Best of all, there’s very little money involved too!
One final thought: even if the FSBO sells, by adding the contact to your database for regular monthly contact, you open yourself up to getting a flow of referrals. Remember, it’s all about building market share. And market share comes from building and nurturing your House List!
Craig Forte has helped more than 32,000 real estate professionals over the last 22 years, helping them generate more clients, more referrals and repeats, and grow their production with less stress, time and effort – all by using innovative marketing training, systems and tools.