Sometimes real estate agents get a little hopeless during this time of year. There aren’t a lot of people buying and selling homes and it can be hard to get business.
Consistent marketing can help keep your business moving even during slower times. In addition, you can keep an eye out for folks who are selling homes on their own, and reach out with offers to help.
Of course, you won’t be the only person offering assistance. Here’s how to stand out from the others.
Understand Your Worth
When you speak to someone who’s planning to sell their home on their own, are you confident that they really NEED to work with you?
If you can’t telegraph that confidence, they aren’t likely to listen to you. Here are just a few things you bring to the table.
As a professional, selling homes is what you do full-time. Homeowners can’t say that. Instead, they’re dealing with full-time jobs, family, and personal obligations while also trying to sell their home. Unfortunately, that means that an FSBO is extremely stressful.
As a real estate agent, you can help them save tremendous amounts of time and hassle by offering to handle the deal as a pro.
Did you know that sellers see an FSBO as a great way to get a deal? They know they can low-ball the owner and likely be successful. FSBOs are probably tired of the strain and willing to take any price. Plus, they aren’t as educated about the real value of their home, and they aren’t paying a commission so they have “room” to come down.
Because buyers know this, FSBOs are often taken advantage of. They end up getting far less money than they expected because they are out-negotiated. They aren’t trained in the “art of the deal” like you are. They don’t have the practice. They’re vulnerable unless they’re represented by a professional.
Who Do You Know?
You know the inspector, mortgage broker, escrow officer, and other connections that are part of your network? Those aren’t insignificant. Those people help deals go much more smoothly. An FSBO seller doesn’t know how to connect with a high-quality professional, and may end up with an inexperienced person scuttling the deal.
The mountain of paperwork and disclosures is another factor many homeowners don’t consider. You already have a standard setup and system to make sure nothing is missed. The FSBO seller doesn’t have that. Without the right documents, they may get stuck with extra fees or find themselves dealing with post-sale drama.
As a professional, you can help them avoid all of these problems through your expertise!
Reach Out Differently
One way to stand out and be unique is to reach out to FSBOs through the mail.
What? Won’t it be long gone by then?
No! FSBO postcards will arrive at the home within two or three days. They can’t hang up on a postcard. It’s a great way to get attention, and not many other real estate agents will be doing it.
There’s so much less competition at the mailbox than there’s ever been that you’d be foolish not to take advantage of it.
The biggest difference is that you’ll help them learn more about the benefits of using a Realtor® in a physical, tangible way. Being able to hold something in their hands makes prospects more likely to take in the information, remember it, and take action.
Call or Visit AFTER You’ve Sent the Postcard
Instead of feeling like a fast-talking salesperson, you’ll be able to start the conversation with “Hey, did you get that postcard I sent you?”
From there, you’ll be able to share more about the benefits of working with a real estate agent. Homeowners often don’t realize what it really takes to sell a home – the time, negotiating skills, and paperwork required.
You’re worth a great deal. Help the prospect understand how much time, money, and hassle you can save them. Not to mention, they’ll sell for a better price if they’re working with a professional!
Be Ready to Handle Objections
Whether you talk to an FSBO on the phone, in person, or in writing, be prepared to handle common objections. Here are just a few.
I Want to Save Money Doing it Myself
Unfortunately some homeowners believe that the only thing a real estate agent will do is take away part of the sales price, while doing very little work.
Nothing could be further from the truth! Take a look at the top section, and use those points to help the prospect understand that working with you will cause them to get MORE money. FSBO homes sell for a median of $200,000, while agent-assisted homes sell a median of $264,900.
There’s no question that the seller will net much more – with much less hassle – with an agent!
I Know What I’m Doing
Well, many homeowners THINK they know what they are doing, but they really don’t. You can’t just Google a contract, print it off, and be done.
They can expect lots of competition, cutthroat tactics, all-cash offers, and bidding wars. Don’t they want a savvy and professional negotiator on their side to seal the best deal?
And it’s not just about how much money they end up spending or netting. A Realtor® will help draw up a purchase agreement that allows enough time for inspections, contingencies, and anything else that’s crucial to their particular needs.
A Yard Sign and Online Listing is Enough
Unfortunately, a lot of homeowners think that just creating a listing online and throwing up a “for sale” sign is all the marketing that’s needed. You know better.
Being listed in the MLS is vital, of course. There’s also your connections to other real estate agents who have buyers looking for a home.
Again, a seller doesn’t just want people – they want the RIGHT buyer who wants to pay the right price. Avoiding “looky-loos,” dealing with lowball offers, setting up safe showings, and much more is difficult. That’s where your professionalism shines.
Reach Out to FSBOs Today!
As we move into fall and winter, your consistent marketing along with your FSBO outreach will be vital to keeping your business performing well.