How to Prospect and Convert FSBO Leads
For new agents who are not yet familiar with the real estate language, FSBO means For Sale By Owner, and it includes all the people that are trying to sell their properties without the help of an agent. You might think that approaching these people is counterintuitive, since they have already gone through the trouble of listing their homes on their own. However, you will be surprised to discover that these leads are not only viable, but they can also be a lot easier to convert than other types of leads. Here is what you need to know about them:
1. How to prospect FSBO leads
There are two main ways in which you can prospect these leads, and each way has its pros and cons. Finding the right way depends on your particular needs.
- Manual research
This is the most obvious solution. All you have to do is go through the websites where people usually advertise their properties, and select the leads that interest you manually. The process can be very time consuming, since it involves a lot of research and you have to get the contact info for each individual lead. On the other side, finding leads this way is completely free. The websites which are more likely to yield results are Craigslist, Zillow and Forsalebyowner.com. You can also consider local newspapers and websites.
- Lead providers
There are many companies that specialize in delivering FSBO leads. However, be careful as not all providers offer the same high-quality leads. It is important to find a provider that can give you accurate and up-to-date leads. We recommend fsbohotsheet.com. They have been on the market for several years now and they have a great reputation. They deliver daily leads at an affordable price. You can also test their services for free for 7 days.
2. How to convert FSBOs
When it comes to conversion, things are not as difficult as they might seem at first. Yes, these people have gone through a lot of trouble to list their homes without any help. Since they decided to do this, they probably don’t want to work with an agent. But here’s the catch: these people are decided to sell their homes, so they will require no convincing from this point of view. When approaching them, try to focus on their particular needs. Don’t ask them why they don’t want to work with an agent. Instead, ask them what they are looking for in an agent, and what you could do in order to ensure a good collaboration. Most people want to sell their homes themselves because they either had a bad experience with an agent, or they don’t want to pay a commission. However, once they understand how much time and effort it takes to sell a home, they will be quite easy to convert.