Working With Wonderful For Sale by Owners
Rossi Speaks, inc.
Why people choose to sell by owner and why that’s OK
They want to save money, and there’s nothing wrong with that. The fact is, we are a society that admires those who best manage their money. So let’s start this exercise with the pledge to respect those who set out to sell their home by owner.
The Numbers
5% of Homeowners will sell by owner
Choices they have:
The Web
FSBO Listing Services
Low fee assist companies
Friends
Schemes and Deals
Professional Real Estate Salespeople
Contacted by the Real Estate Community
Call <15%
Send Mail or Email <15%
Visit <1%
Agent Contact Philosophy
Calling and Writing doesn’t work…
Door-to-Door, Face-to-Face is the only solution.
The Visit
Before you ever go to the door of a FSBO, set in your mind that you respect their decision. The following three reasons are why you go to their door – not to sell them, not to tell them they are wrong, and not to tell them that you can do it better:
To get an impression
To make an impression
To preview the property
Here are the Non-Verbal and Verbal Procedures that demonstrate this to the owner:
Non-Verbal
Relaxed – a mode of acceptance
Open – friendly but not overtly so, unless you know them personally
Non-aggressive stance – step back from the door and offer eye contact
Verbal – These are my proven words, read them, understand the meaning and purpose – then use your own words. Don’t say these words if you don’t believe them.
Hi, I see you have your house for sale. Point to the sign, they sometimes forget how you know. I’m in the same business as you, selling real estate, and I would like to preview your property.
They will always say, We don’t want to list.
I understand. I’m sure you can sell it yourself. All I want is to look at your house for future comparison. Could you show me your property?
Pause – they’ll say, Why do you want to see my house? We don’t want to list.
I’m not here to list your house, I’m only here to preview your house for future reference. May I see your house, I’ll only take a minute.
Most of the time they will invite you in. Here are some exceptions and how to handle them:
It’s not convenient right now.
Fine, what time would be better for you? Three o’clock or four?
You’ll have to wait until my spouse is home.
This is great, it shows their insecurity, which is the very reason they should list with you. Fine, what time will they be home? I’ll see if my schedule allows for my return then.
I don’t let strangers in my home.
This is a common fear and one of the very reasons they may need your assistance. Let me give you a list of my references, maybe you know some of them. I’ll ask them to introduce us.
Is this a trick?
No, as a full time real estate professional, that would not be good for my professional reputation? You see, as a residential specialist, I feel it’s necessary that I know everything I can about the market. Most agents fear the rejection of For Sale By Owners. Therefore, they never learn about their houses and have a void in their market knowledge. I, on the other hand, think it’s okay for you to sell your house by owner and won’t feel rejected. This is an imbedded subliminal command and very effective. Once I see your house, I add it to my market knowledge and become of higher value to those who choose to hire me to manage the sale of their property.
Now they will invite you inside. Here’s what you do and say (your words please)…
Thank you. Do you have any printed material on your offering or possibly a website or web address? If yes, ask for a copy or URL. If no, suggest that they may want to consider it. Now, lead out on a tour, careful not to get too far from them. Don’t go in all the rooms, don’t go outside, don’t go in the garage. Don’t ooze with compliments. If they begin to oversell on something, ask them if it’s written down. If yes, ask for a copy. If no, tell them it would be helpful in the sale. Tour their home at the same pace that you are previewing vacant property and return to the point of entry.
Pause and say, I’m sure you can sell it.
They will always say the same thing, What do you think of my price?
You always answer (again, take my idea and make it your own), I don’t know. Pause. However, I could do a Right Price Analysis that would take a couple hours of my time, which I would gladly do for you at a no cost obligation, providing at some point you would be interested in hiring me to manage the marketing and sale of your property.
We don’t want to list!’ they’ll say.
Fine, I’m sure you can sell it yourself. Thank you for allowing me to preview your property. Here is my card (don’t give it to them before now unless they ask), call my personal cell if there is anything I can do. And you’re done. You’ve made an impression, got an impression, and previewed the property.
Follow-Up
Persistence is key – 70% of for sale by owners eventually list
Must have a scheduled plan
Send a thank you note
Stop by their house often with marketing information
Example verbiage: Hi, did you get my note? Here are several business cards of mortgage lenders I’ve worked with. You’ll need to contact one when you get a buyer for your house. Have you had any offers? I’m sure you will soon. Thanks and good luck. You leave.
Hi, have you had any offers? They usually tell some story about someone who is interested but…
Are you seeing more agents or more buyers?
They always say, ‘agents’. Remember agents don’t contact FSBO’s, but they’ve seen you twice.
If I could show you a way to set the agents aside and have more time with buyers, would you be interested?
Of course they would. Here is a stack (10 or 12) of my business cards. When an agent comes to the door, tell them that I have all the correct information on your house and ask that they call me. This will eliminate those who may not believe in your ability to sell it yourself.
It’s at this point that you may get the, ‘What’s in it for you?’ look or they may even ask, Why would your do this?
Tell them that not all prospective buyers who look at their house may not want, need, desire, or can afford their property. And, you’re hoping that they feel comfortable enough with you to give them your card. Some of my best buyers have been referred by FSBO’s.
Stay in touch with them at least once every six to seven days
Never give up until they sell or list
You have now accomplished what you’ve set out to do.
Did you get an impression? Yes, you’ve met the seller. You’ve seen their property.
Did you make a ‘Good Impression’? Yes, not threating and professional.
And you now have information on a property you may not have seen.
Thirteen reasons FSBO’s should consider using a Professional Real Estate Salesperson:
Safety
Security
Technology Tools to Market, Monitor, and Expedite a Positive Sale
Alleviate Stress and Anxiety of Home Selling
Financial Knowledge and Support
Pool of Buyer Contacts
Up-to-the-Minute Market Awareness
Competent Timely Advice
Market Reach – Your MLS and its Members
You as a Skilled 3rd Party Negotiator
Understanding of the Home Inspection Process
Detail Transaction Coordinator
Ability to Take the Transaction to Close and Funding
ROSSI Speaks – all rights reserved
Rossi is a lic. Real Estate Broker in Raleigh, NC working with Northside Realty
