In real estate, new listings make the world go ‘round. Whether you’re cold calling, door knocking, or depending on referrals, everyone is in search of a new deal. But what about FSBOs and expired listings? The fact of the matter is that the majority of agents try to steer clear of these types of listings. Sure, they can seem scary from afar (uncharted territory always does), but specializing in these listings can help you gain a competitive advantage.
Below are a few ways to get a leg up on finding and converting FSBOs.
Show them the facts
For the seller, the proof is in the numbers. If you have had previous success in moving FSBOs or expired listings quickly off the market, let them know! Presenting your results will make them more inclined to move forward with you. It’s also wise to share general stats about how much less time an agent-represented listing spends on the market.
Focus on the old listings
When it comes to expired listings, the older, the better. There’s a greater chance of recruiting an expired listing that has sat on the market for a year versus a month. Not only are these types of homeowners more than ready to move, they’ve also built up enough equity to make a hefty profit.
Practice your script
We all know how important practicing and perfecting your script is, especially when it comes to FSBOs and expired listings. Agents who succeed in these types of listings are better equipped to handle the multitude of objections that come with the territory. Before you pick up the phone, be sure to role-play and solidify your script.
Don’t just pick up the phone
It’s important to realize that your opportunity isn’t over once the seller hangs up. If you’re having trouble getting in touch with them, try alternate communication methods. Sending a quick email or text message can act as a subtle reminder that you’re still trying to list their home.
Lastly, don’t give up! Prospecting FSBOs or expired listings can take time and effort to perfect, but the payoff is certainly worth it. Most agents don’t commit enough time or energy to win these types of prospects over. Be persistent in your efforts, but mindful that you don’t come across as desperate.
At the end of the day, focusing your efforts on these prospects can be a lucrative niche for you. With these tips, gone are the days of running away from FSBOs and expired listings.