Consistency is key. By week 4 you are probably the only Realtor still communicating with the FSBO. I find asking them if they have a lender to pre -qual their potetial buyes a good Icebreaker. They ask what is in it for us. We ask them if someone wants to buy their home but has one to sell and they do not have an agent that they would referr us. That if they do decide to employ a Realtor we be the first they interview and if they move out of Stae we can locate them a top Realtor.
The stats show that 90% of FSBO's only last 6 weeks before they reliase ho much work is involved and what limited exposure they are getting for thier money and effort. *0% also hire the first agent they interview.
So long as you have been in constant contact offering advice and value, you should be the first and only interview they take before appointing you their Realtor. Then it's up to you to do a great job and earn the referrals and business for life.
Most of the FSBOs are very confident that they will be able to sell the properties themselves; at least at the beginning; and they don't feel the need for Realtors, but they do appreciate good suggestions and the courtesy of respecting their wishes.
You want to show an interest in their house, so try to stop by at their open house, and talk to them about their property and be helpful, but don't be pushy. You want to add value.
Step back a little at the beginning and watch for the signs closely. Follow up with them afterwards to get a feel and stay in touch. Once they trust you and remember your input, they will most likely let you have a foot in when they eventually decide to go with a Realtor; which they most likely will. .
Also, don't be discouraged by the very definite 'NO, I won't go with Realtor'. I have found out that they do change their minds and if you take their words at face value, you will be sorry that you did not follow up.
The first thing is to be honest with them. The script of Ihave a Buyer, forget it. I explain I definately want to list their home if it is good enough for the market. When they confirm everything about the presentation being exceptional I ask them how much traffic they have had and that's when they say it has been slow.
So if it is not presentation it is price. That's when I ask for an appoitment to preview and review a CMA. If they still want to FSBO that's fine I can offer them an approved lender to pre-qual their potential clients and help with flyers. When they realize the ammount of time involved and their lack of marketing exposure and lead capture 9/10 they want to talk about listing.
FSBO"s sell for 18% less than with a Realtor and only 20% of FSBO's are successful. If you had a tax or medical issue invloving the same ammount as your home you would't think twice of hiring a professional.
So why should Real Estate be different?
Honesty is definately the best policy.