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Real Estate Marketing

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Top 10 Mistakes Agents Make Going After Short Sales

Short sales are a huge portion of the market.  With many sellers running into challenges from job loss to adjustable rate mortgages there are many homeowners in need of help and they don’t know where to turn.  

To reach these homeowners requires the right strategy and tactics and unfortunately many real estate agents make tragic mistakes that prevent them from reaching the home owners who need the most help.  

Consider avoiding the following pitfalls when you are pursuing short sale homeowners.

  1. No marketing message – A marketing message gives a seller prospect a clear and concise reason to pick up the phone and call you for help.  Short sale homeowners are in a totally different place than most people and as a result they need a marketing message that speaks to them.  Most agents start targeting sellers with no thought of “why” a homeowner should call them.  If you think someone should call you because you are “honest” and “helpful” then you won’t be getting any calls.
  2. Not mailing enough – Sending 100 pieces of mail and then complaining that you didn’t get any calls won’t get you to the level of taking 10 or 20 listings monthly.  To take enough short sale listings it is imperative to mail consistently and to enough people so you can see if your mailings are working.  Consider sending a minimum of 500 pieces and have a plan that spans at least 6-12 different mail pieces for those 500 people.  That will give you an idea of if your marketing is working.
  3. Not sending a variety of mailings – Each market is different and sellers in your area may be more responsive to postcards or letters, but you won’t know until you test.  Finding out what your market will respond to requires sending both powerful postcards and letters.  Track when you send each mail piece to find out where you can get the biggest results.  
  4. Not having a dedicated website – Many agents send powerful direct mail and even have great pay per click campaigns with traffic being sent to a generic real estate site.  This results in lackluster results and most agents scratching their heads to find out what is going wrong.  Consider having a focused website that speaks to the challenges of a short sale prospect.
  5. Lack of follow up – Calling or emailing a prospect one time won’t cut it.  Follow up should be consistent and automatic to ensure that you give prospects the best opportunity to reach you.  For example a simple email follow up should last a minimum of 45 days to get the most from your marketing.
  6. Not defining a process for the prospects – Many agents feel that a seller understands the short sale process; however, they really don’t!  Consider defining the process for sellers so they have an understanding of what will happen and how you can help them.
  7. Not targeting the right list – Trying to find “free lists” or sending short sale letters to “expired sellers” isn’t going to cut it.  It is important to find a source for fresh prospects where you can readily get 30, 60, and 90 day late prospects.
  8. Thinking a certification helps – Certifications can be great; however, they don’t get you more business.  There are many “national” associations that sell you a certification and then leave you on your own to get business.  A certification can help separate you from your competition but it won’t bring the sellers to pick up the phone.
  9. Using the wrong scripts – Short sale sellers are in a tough position.  Should you say the wrong phrases you could easily send a great seller running for help.  Instead of trying to sell yourself, consider asking a detailed series of questions so a seller can see how you can help them.
  10. Not sticking with it – Whether you are sending out postcards, letters, or even doing pay per click there is a good chance your marketing plan might not generate a listing in week 1.  Give your marketing plan an opportunity to succeed by letting it run for 60-90 days.

When you can avoid these top mistakes you will give yourself the best opportunity to take short sales monthly.   You won’t be able to avoid every mistake; however, just knowing the above and putting a plan in action to get around them will keep you ahead of your competition and taking short sale listings quickly.

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What is Your Real Estate Marketing Niche?

Starting in real estate often means being the “jack of all trades” in the area.  Your expertise becomes anything related to real estate, whether it be listing homes, selling homes, or maybe even doing a home loan.  Your real estate career gets even more clouded as you get involved with the different types of real estate from condos, homes, land, new construction, residential multi-units (i.e. 2-4 units) or maybe even stretching to commercial properties (and there are plenty of niches within the commercial class of properties from industrial, office buildings, multifamily apartments, etc.).  Performing this many real estate tasks is a juggling act that very few agents ever survive.

In order to close business consistently every month, have a life, and experience the big rewards it becomes necessary to specialize in a niche of real estate.  Before we can examine the benefits of specialization let’s examine the fears that many real estate agents have about selecting a niche:

  • I will lose business by specializing
  • There aren’t enough transactions for me to specialize
  • I don’t know enough about anything in real estate to specialize

These are all common fears to experience before selecting a niche to specialize in and dominate.  As you are considering your niche, I invite you to consider the following question:

If you had a possibly fatal heart condition and you were looking for a Doctor to help you, which Doctor would you select?

  1. The Doctor who is a Podiatrist, Pediatrician, and a Cardiologist

Or

  1. The best Cardiologist in your state

For most they would select “B” because that Doctor would have handled more conditions than the “A” Doctor.  She would have the experience, have run into more problems, have solved more cases and would have to be the absolute best in order to make a living in just one area of medicine.

So, by selecting a niche are you turning away business or are you inviting more of your niche than you ever could imagine?

Selecting your real estate marketing niche will bring you a flood of business for that niche.  In order to demonstrate your expertise in a particular area, it doesn’t take shouting from the treetops that you are the “expert”.  Here are some methods that you can do to demonstrate your expertise in a niche and start bringing in more of the business:

  • Write articles – Write articles about the type of real estate product that you have a passion for.  For example if your passion is condos write articles about homeowners associations, selecting a community, and even choosing the right floor plan.
  • Contribute on forums/Sites – There are often community forums where local residents bring up questions about communities or their local city.  Participate in these forums (without directly asking for business) and answer questions.  Even sites such as Reddit have local community sections where you can answer questions.  Remember it’s not about selling, it’s about answering questions and people will “see” you are the expert.
  • Contribute on Social Media – Whether it’s Facebook, Instagram, TikTok or another platform people are asking questions about your local market.  Evaluate each platform to see where you can provide the most value.
  • Write a Niche Real Estate Report – Take your foundation of articles and write a mini-book about your niche.  Your report could include detailed photographs, infographics, charts and much more.  Imagine you were talking to someone for the first time and they wanted to learn “everything” you know and start writing from that perspective.  While you won’t be able to capture all of your knowledge, by putting in the work and sharing extreme details people will want to use you…because you are the one that wrote the report.
  • Attend community events – This can range from attending a local board meeting of homeowners to having a small booth at a farmers market.  Wherever you attend make sure it is complimentary to your niche.

There are many different ways to share your expertise in order to bring in more business.  The first big step is just committing yourself to real estate marketing in the niche where you have the most passion.  To your success.

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Maximizing Your Marketing Strategy: A Guide for Real Estate Agents

Marketing in the real estate industry can be a daunting and costly endeavor, especially when efforts fail to yield the desired results. It’s no wonder that some real estate professionals shy away from marketing and advertising due to uncertainties surrounding potential outcomes. However, avoiding marketing altogether can be detrimental to your business and leave you struggling when economies change. The key lies in discovering effective strategies that minimize wastage and maximize returns on your marketing investments. To help you navigate this challenge, here are some essential marketing tips tailored for real estate agents:

Crafting Your Distinctive Marketing Message

Your marketing message is not just a catchy tagline; it’s a concise, impactful statement that sets you apart from the competition and conveys the value you offer to clients. In under 10 seconds, it should demonstrate how you can save time and money for potential clients who reach out to you. Consider the following example:

“Experience the Difference: Your Home Sold in 39 Days, Guaranteed, or It’s on Us!“

This message speaks directly to the potential client’s concerns of time and money, instilling confidence and intrigue. A strong marketing message should be impossible to ignore, prompting consumers to take immediate action. Craft your message carefully, focusing on the unique benefits you provide, and watch your phone lines light up with interest.

It is important to note that marketing messages will need to change as market conditions change.  If homes are selling in 10 days with little effort (and as agents we all know that there are those periods) then you might have to adapt your message to something more compelling.  Put yourself in the shoes of the potential sellers and ask yourself “how can I save time and money?” and that can help you to craft a new marketing message.

The 7% Rule: Setting a Smart Budget

One of the most significant hurdles in marketing is the cost involved. To ensure your marketing endeavors remain profitable, implement the 7% rule. This principle suggests that you should allocate no more than 7% of your commission on any single marketing initiative. This approach provides a clear budgetary constraint while allowing room for experimentation. With this budget in mind, strive to generate at least one transaction for every 7% invested. Be cautious not to overcommit financially to any marketing tactic from the outset, as this could potentially lead to a net loss. 

Remember that when you first start marketing your budget might be more than 7%, but the important part is to optimize and hold your marketing accountable to this number.  This approach should be taken with ALL of your marketing (pay per click ads, social media ads, postcards, flyers, niche local newspaper ads, etc.).  Make sure that each channel of marketing is held accountable to delivering customers for 7% of your average commission.

Aligning Marketing with Your Expertise

Understanding your strengths and preferences as a real estate agent can be a game-changer. Are you more comfortable and proficient in working with buyers or sellers? This insight will enable you to align your marketing efforts with your strengths, resulting in more effective campaigns. The misconception of being open to any type of business can dilute your marketing message and hinder success. Concentrating your marketing strategy on a specific target audience – either buyers or sellers – enhances your chances of attracting the right clientele and nurturing fruitful relationships.

By integrating these three fundamental marketing tips into your strategy, you can achieve consistent results every time you launch a new campaign. Focus on generating immediate results, which will contribute to achieving your monthly goals. Effective marketing in real estate requires a blend of creativity, strategic budgeting, and self-awareness. By putting these principles into practice, you’ll be better equipped to navigate the ever-evolving landscape of real estate marketing while driving growth and success for your business.

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Marketing Your Real Estate Website

As more and more real estate professionals get online, they are quickly realizing that you can’t just sign up for a website, pay $60 a month and then generate leads that turn into commissions.  The reality is that a website merely gives you the opportunity to get in front of potential buyers and sellers, but it won’t do it on its own.  It’s much like a car gives you the opportunity to drive to work, but you still have to drive it!

A real estate website is a powerful tool.  It gives you a platform to communicate with a mass of strangers and allow them to learn more about the cities, neighborhoods, and real estate on their terms.  You aren’t controlling how they learn, in fact with search engines; they may enter your website from many different pages and start their discovery of real estate from many different directions.

In order to make your website one that is profitable too, it is essential to market your website to those customers who are eagerly searching for information online.  This doesn’t mean a blitz campaign of postcards, magazine ads, or sending out 10,000+ direct mail pieces about your new website.  Marketing your real estate website can be very cost effective and productive when you have the right methods.

I invite you to consider the following methods as you are marketing your real estate website.

  • What is your customer’s pain? – Think about this one before you do anything.  In your local market what is the biggest problem for your customers?  Is it finding the neighborhood with the right schools?  Is it finding a neighborhood with a big enough lot to build a larger home?  Is it finding that first investment property that will put them on the path to passive income freedom? Write down these pains as you can then focus on solving these pains through your website.
  • Search engine marketing – Getting to the top of the search engines should be a part of every online marketing plan, but it needs to have focus and as the search engines have gotten more sophisticated it should embrace change.  Especially when you are just starting out, try to focus on just 2-5 top keywords in your market that you want to get to the top in.  With a small focus like this you will be able to write better content and really meet the needs of your consumers and the search engines at the same time.  That focus will require a content plan that involves everything from rich long form content, videos, infographics and even a focused local niche report but when you do that you can have a site that dominates.
  • Pay Per click marketing – When you want results quickly have the same focus with your pay per click ads as that of your search engine marketing.  Having a small focus will keep your costs down and when you show up organically at the same time you dramatically increase your chances of getting customers to your website.  Whether you are managing your account yourself or having an agency do it, keep your ads and ad copy focused on resolving your customer’s pain.
  • Technical Details  – While you didn’t get into real estate to become an online marketer you will have to understand what is needed for your real estate website when you want to have success online.  It is important to have a high-level understanding of key components such as optimum load times, real estate meta tags, XML sitemaps, mobile experience and more to help you engage the right staff to make sure it is completed as necessary.
  • Social Networks – Marketing your website through your social network will expose your website to an entirely different group of people.  Be careful not to self promote (yes it’s a difficult balance between expert/influencer and self promotion) as your marketing on these networks should focus on giving answers to those pain points.  You can provide “status updates” and direct people to key pages on your website which will certainly get the conversation going and help people focus on your website as always having the right answer.

Marketing your real estate website is much more than just “getting exposure”.  Whether you implement just 1 method above, all 4, or even some additional techniques, the focus of all of your marketing efforts should be to generate leads for your business.

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5 Questions to Ask to Develop Your Real Estate Marketing Solution

In real estate there are many different ways to generate business.  Many start with the aspect of “branding” themselves, some start with their sphere of influence, and others start down the road of direct response marketing.  There are many different ways to build a marketing foundation for your real estate business and your solution should fit your needs and your personality.

Before you spend any money on real estate marketing, it is important to consider the following:

There is no SILVER bullet

No matter what type of solution you decide to use for your real estate business there isn’t going to be a silver bullet or a magic pill that will give you as much business as you could imagine without any work or money.  A good marketing solution will require that you invest your time and money into making it work for your business.

There are a few important factors to consider before starting any real estate marketing program.

  1. What type of business do you want? – Don’t just say “I will work with anyone” as that will result in marketing that has no direction and will be too expensive.  The most obvious first decision to make is whether you want to work with buyers or sellers.  With just a simple focus on working with buyers or sellers you will be able to determine what marketing will help you to best reach your target audience.  Buyers and sellers have different needs and your marketing needs to fill those needs for you to have success.
  2. Are you an expert in a particular type of real estate? – In real estate there are many different types of real estate to consider.  For example, are you an expert in raw land, new home developments, income properties, condos, townhomes, view properties, luxury real estate, retirement communities, income properties, vacation properties, larger multifamily properties, mixed-use properties, and the list goes on and on.  Think about where you have the greatest expertise as you can focus your efforts on that particular expertise to be the best in your market for that type of real estate.  Remember, you don’t hear on the news “here is the best generalist in medicine”….no they always want to find the best specialist (i.e. brain surgeon, knee surgeon, etc.).
  3. What are you most passionate about? – Even if you are an expert in a particular aspect of real estate, if you don’t have passion you won’t stick with it.  Think really hard about the type of real estate and the type of customer that you are passionate about.  Do you love educating the first time buyer or first time investor?  Do you enjoy helping people get their first vacation property?  Do you love the complexity of selling a property and finding a family a move-up property that is the perfect fit?  When you really understand your passion you can have a marketing solution that helps you to align your passion with your marketing.
  4. What type of marketing do you really want to do? – With online advertising growing at such rapid rates it is certainly one of the most popular and effective mediums to go with to get new customers, but is it a fit for you?  There are many real estate professionals across the country that are having huge success with magazine ads, flyer inserts, and postcards so if that is something you want to do then choose a marketing solution that offers those templates as well.
  5. How are your phone skills? – Be honest with yourself on this one as this can make the difference between massive success and wondering why “the leads are bad”.  With new marketing comes a new source of leads so take time to consider if you are prepared to handle leads from that new source.  Whether you are getting calls from your website, magazine ads, postcards, sign calls, or another medium there are different questions you can ask prospects to qualify them and see if they are a match for your services.  A complete marketing solution should also help you with scripts and objection handling techniques. 

There are many different real estate marketing solutions out there and one of the best ways to see which one is right for you is to pick up the phone and call the people who have created it.  When they take the time to answer your questions you can see how it would work for you and they might even give you some new ideas you hadn’t thought of yet that you can apply to your business.

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Ask the Right Questions of Expired Sellers and Get More Appointments

Expired sellers are getting calls every day.  Many expired owners get 50 or more phone calls daily.  When the owner does pick up (yes you will often get their voicemail) you have just moments to grab their interest and get to the moment where you will get an appointment.

For many a real estate professional they are asking questions that just annoy the expired owner, instead of reaching toward providing a solution.  Here are some questions that you should consider removing from your repertoire entirely:

  • What do you think your last agent did wrong?
    • Answer: Uh, they didn’t sell my house!  You don’t want to have to move them into what you can do for them after asking this question.
  • What are you looking for in the next agent you choose?
    • Answer: Umm, sell my house! Again, this question isn’t getting to the root of their problem.

Most questions that real estate professionals ask fail to dig deep enough to what the real problem is the expired seller is having.  They wouldn’t have listed their home originally if they didn’t want to sell, the problem they experienced was that their home didn’t sell, so asking questions around that topic is pointless.

When asking questions, your questions should be thought provoking.  Questions that can be answered too easily won’t get your foot in the door.  Before you formulate questions, consider the following tips that your questions should cover.

  • Each question should demonstrate your expertise without you having to say you are an expert
  • Your questions should lead them to see how their problem will be solved quickly
  • Your questions should show them how they can save money

Quite often you will have to ask 4-6 questions before you will get an appointment.  In order to make sure you get the right questions out, consider writing them out and having them next to your phone so every phone call.

To start your question list off in the right direction, here is an interest piquing question that you can ask.  

Do you know the 15 questions that need to be asked to a buyer to ensure they are for real?

The simple answer for the real estate professional is that a loan application takes care of these questions.  The longer answer for the expired seller is that you are responsible for reviewing every offer, ensuring the validity and ability of every contract that is submitted

Your value to the expired seller goes far beyond putting a sign in the ground and when you ask the right questions they will understand that too.

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Real Estate Agent Marketing That Generates Transactions

In every market there are new real estate agents getting into the market and agents that want to change their marketing to generate more business.  For most agents that means starting off with a strategy that is based around them and their “image”.  After all, people are “buying into you” when they are buying a home right?

Abandoning Image-Centric Marketing

While personal branding can have some beneficial impacts, it should not be the central focus of real estate agent marketing. Instead, agents should prioritize lead generation and emphasize value to potential clients. By shifting the focus away from branding, agents can optimize their marketing budgets by investing in strategies that yield a higher number of leads and, consequently, more closed transactions.

The misconception that your brand is all about you is what leads people to create postcards, magazine ads, and websites with huge pictures of themselves.  Sadly as home buyers and sellers rush to the market in cities all across the country, they aren’t saying “Wow, I hope I can find an agent with a huge picture who is honest and has integrity”.    It doesn’t happen!

To generate phone calls, emails, and text messages of eager buyers and sellers real estate agents should focus on lead generation efforts that meet the needs of their potential customers. .  A focus on the number of leads that you can generate from each marketing piece will keep your costs low and allow you to cut your budget should one of your campaigns not result in new business.

Now that you understand that personal  branding is a form of marketing that won’t be driving people to your door, where should one focus to get results?  The first step to getting more leads that turn into transactions comes in deciding on your marketing message.

A Marketing Message Generates Calls Monthly

A marketing message is NOT a slogan.  A slogan is something like “Everything I Touch Turns To Sold” or “Honest Service for 22 years”.  These messages aren’t compelling and certainly won’t get anyone to pick up the phone.  No one is out there looking for a dishonest real estate professional, so stating that you are “honest” isn’t making a statement at all!

A marketing message is a statement that saves someone time or money (sometimes both).  It is best to have buyer messages and seller messages as they have different needs.  These messages can be included on any real estate agent marketing and should be prominent to compel a total stranger to pick up the phone and want to get more information.

Take the following seller marketing message:

I Sell Homes 21 Days Faster And For 2.1% More Money Than The Average Agent

That marketing message saves someone time and money!  Put this on a postcard and watch your phone ring.  This message is specific and will work in any market because it saves someone money (2.1% more in the seller’s pocket) and it saves someone time (21 days faster).  You could easily test this postcard and your traditional “slogan” card by sending them both out to the same group of people and see which one generates more phone calls.  Keep the card that generates the most calls and keep running it.

Effective real estate agent marketing generates calls every month.  Every six months the needs of the market can change (sometimes even faster.  Take time to track the number of calls and the transactions you are closing from each of your marketing pieces.  If homes are selling fast without much effort with agents, then think of different challenges seller’s are running into (i.e. maybe they want to save on commissions, secure a larger home with greater ease, etc.)

By ensuring your focus on your real estate marketing is one that drives interested prospects to your phone, website, or social presence you’ll be able to hold your dollars accountable.  Keep the focus on tracking your efforts and ensuring your message stands within the current market conditions.

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What Real Estate Training is Right for You?

No matter what economy we are in, real estate is a business that is constantly changing.  Sure the general public may feel that the only work that is done is meet someone, put a sign in the yard, list it on the computer and make lots of money, but we know differently.  In real estate there are 100’s of things you do every day and the way that you acquire new customer’s changes every year.

In order to keep your competitive edge you have probably gone to a variety of real estate training events.  Some of the events pump you up for a few hours only to have you go back to your office and by the end of the day you are drowning in putting out fires and that training seems like a distant memory.  So how do you choose the training that you need to get more business and that you will actually stick with?

Here are 3 items to consider before you get that credit card out to decide on what real estate training is right for you.

Item 1: What is your BIGGEST problem? 

There are many different programs out there that can help you with your entire real estate business but do you need help with everything?  You may need help on something specific like better objection handling techniques or just how to generate more leads for your business.  Before you even go to a training event, or start searching online, decide on what is your biggest challenge.

Try to be as specific as you can.  If you have always had a challenge with generating leads, then consider a course or training on lead generation.  If you have had a problem converting people on the phone consider a course that helps with conversational language that leads to conversion.  If you have a ton of business but are working WAY too many hours then look for someone who can help streamline and help you gain efficiency.  If you identify more than one problem (that’s a good thing) then rank them in importance in how much they can help your business and start with the toughest one first.

Item 2: Budget for Training as an Investment

Training is an investment in yourself, just like going to school.  Every year consider having a training budget as part of your business and then it won’t seem difficult to spend money on training.  Programs can vary from as little as $90 for a training guide to thousands of dollars for 1 on 1 coaching.  After you decide what your biggest challenge is, make sure you have the budget to solve that issue.

With the wide range of training available, really focus on matching a training to your personality.  Some people are excellent at studying on their own, while others need guidance.  There is nothing wrong with either approach, the key is understanding where your strengths and weaknesses are so you can get the help you need to achieve success in your business.

Item 3: Accountability Matters – Who is Going to Hold You Accountable?

 If you already have a real estate coach then you already have someone holding you accountable, if not though, consider getting a person to check on how you are doing with your training.  Reporting to a third party on what you are learning will help you get results from your investment.  It is the same process as going to a trainer for your fitness.  A trainer can’t work out for you, just as a real estate coach can’t make your calls, but when you have an expert guiding you to your goals you can get there faster and usually save money getting to your goals as well.

Real estate training is a great opportunity to discover new techniques and then apply those new methods to improve your real estate business.  Have fun evaluating your challenges and most of all take action with a program that is the best fit for you.

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Your First Contact With A FSBO Owner

FSBO sellers have the goal of selling their home.  They have made that obvious by putting their home up for sale!  Contrary to what they believed, when they put that sign in the ground, or maybe even signed up with a website, their home wasn’t flooded with eager, willing, and able buyers for their property.  After their home has been listed just a short time, they now get more phone calls from real estate agents than prospective buyers.

FSBO sellers often have an ax to grind with real estate professionals.  They can’t see the value in the services, they think it’s incredibly easy, or they just want to save money.  Whatever their reason for listing their home themselves, when you get a hold of them for the first time, understand that you are going to have to break through their fears to see if they qualify for your services.

It’s important to remember that you will only get a FSBO owner on the phone about 20% of the time.  The other 80% of your communication with them will be through voicemails and the letters that you send them.  When you do get them on the phone, it’s very important to ask powerful questions so you don’t waste any time.

The very first question (and the easiest) to start the conversation is the following:

Is your home still on the market?

Asking this question will give you the first indication on if there is a possibility to be able to help them.  Now, if they do say “my home is sold”, take time to dig deeper and ask if they have actually signed a purchase agreement.  Sometimes FSBO owners think they have sold their home when someone just has expressed interest so dig deep and find out what their real situation is like.

After you have determined if their home is actually available, it’s important to transition into qualifying the FSBO to see if there is a match.  There are three questions that you can ask to determine if there is a match and when you ask all three of them you will be able to select only the most qualified FSBO sellers to work with.

Consider the following question to ask as part of your match script.

Mr/Mrs. Seller, if I brought you a buyer, would you offer a 3% co-op?

This question helps you to determine if they are willing to pay someone to bring them a qualified and motivated buyer.  Don’t dive into questions of asking if they want to pay a listing commission as well as you will just get them to hang up on you!   

Questions that Can Help You Get to the Heart of the Problem?

Of course one question certainly isn’t going to get you the appointment.  The more questions you can ask, the more interest you can pique (i.e. without sounding like you just want a listing) the better chance you have to establish enough rapport that will get you an appointment with the FSBO.  Consider a few of the following questions:

  • Have you had a challenge with real estate agents in the past?  If so, can you share those challenges?
  • How did you price your home for sale?  If I could show you how your home could be worth 5-10% more would you consider using a real estate professional?
  • Are you making this home sale contingent on buying another home?  Have you done that process before?
  • Have you identified who your escrow company will be when you get a buyer?  Have you had an escrow company run a seller’s estimated net proceeds for you?
  • How are you determining if a buyer’s offer is one that will ultimately be successful?
  • Are you aware of all of the reports and disclosures you have to provide to a buyer?

Taking FSBO listings does require building rapport building and you generally won’t be able to ask all of the questions you need to on the first phone call.  Focus on asking enough qualifying questions to determine if they are worthy of your follow up and on your following calls you can work to get that appointment!

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Give FSBO’s (For Sale by Owners) a Reason to Call You Back

Going after FSBO’s is one of the best ways to take listings consistently every month. When you take a FSBO listing it means that you have solved their pain.  Sometimes it can be challenging to have them realize that you are actually involved to make their life easier and help them accomplish their goals.  FSBO’s are getting called by many real estate professionals in your area, and getting them to return your call can be a challenge when you don’t give them the right reasons to pick up the phone.

Whether you are leaving voicemails, sending postcards, or sending direct mail, it’s important to give the FSBO owner a reason to call you.  Too often real estate professionals point out mistakes in the owner doing their own work or leave their “resume” on a voicemail.  None of these methods will really give them a reason to pick up the phone.

Getting your phone to ring from FSBO sellers means taking a few moments to understand their pain and then crafting your marketing messages to solve those pain points.  Here are a few items that you can tackle to get FSBO’s rushing to their phone to call you.

  1. Interest piquing questions – Instead of shouting out your accomplishments, take the time to ask questions.  Don’t ask the same old questions as everybody else like “are you offering compensation?”, dig deeper to see where their pain is.  Ask questions that lead them to see what you have to offer like “Do you know the 10 things you should ask every buyer before they view your home?”.  “Are you aware what the average days on market is in your neighborhood and how that impacts your list price?” Asking interest piquing questions like these will help them to see your value.  
  2. Marketing message – Your marketing message needs to hit at the heart of saving people time and money.  Often a FSBO owner is trying to save money and pay only 1 commission, but sometimes they also need to save time.  On your mailings especially, focus on a marketing message that will reach the FSBO like “Is Saving Thousands of Dollars On The Sale Of Your Home Worth Five Minutes Of Your Time? – That’s All I need To Show You How To Do It”.  That message reaches to the heart of a FSBO.
  3. Make it easy – Displaying 5 phone numbers, an e-mail address, and a physical address doesn’t show that you are easy to get a hold of, it is confusing.  Make it is for a FSBO owner to contact you by giving them 1 easy way to call you.  A method that makes it simple and gives you tracking on what marketing is working is using a 1-800 number service, like CallFire or Twilio.  It doesn’t matter what service you use, but it is essential to use a service that allows you to track your results.

Since over 80% of FSBO owners do convert into a listing for a real estate agent, it’s important to have the right ingredients so that agent can be you!  By focusing on interest piquing questions, a powerful marketing message, and making it easy for them to contact you, you can start taking more FSBO listings every month.