Converting Sellers to Clients

When a Seller (FSBO/Expired) decides to list with an agent what do you think is the most common reason?

• Is it because of timing on the part of the agent?
• Is it because of a relationship developed through friendly telemarketing?
• Is it because of conditioning through a consistent mail campaign?
• Is it because of a hot lick sales script?

Or is it because of something else?

I've seen FSBO's turn their listings over to an agent after they have given it their college try and have not seen their house sell - they realize they aren't doing something correctly, and are at the point where they are willing to engage with a professional (unfortunately for them, they've lost a significant amount of time, and in some cases, money).

[kensmith]

Most of the time fsbo's only talk with one agent before they list. This surprises most agents and think that as long as they can be one of the top three in the sellers mind they have a chance, but the stats show otherwise.

So you need to be the agent the homeowner thinks of when they decide to list. This can be a number of things, but normally it's someone that they have been referred to, someone that they have built a relationship with, or someone that they have seen a lot of advertising from.

Referrals are the best way to get new listings, but if that isn't it trying to get your "foot in the door" to build a relationship is the next best thing. This could happen by walking into the fsbo's open house and introducing yourself (very effective). It could be from door knocking, or a ton of other ways but you have to be creative and have a purpose. Advertising is always an option, but it is a little more passive than the other methods. When you take a passive approach to something you will have to do much more of it to see results. Mail 1000 pieces or go knock on 10 fsbo's doors either way you will get X number of listings. Hope you get the point of that.

This truly is a numbers game and lucky for us it can be played a lot of different ways so all types of personalities can succeed.

[Andrea Messenger]

Hey, I agree, Ken. It is certainly a numbers game. Alot of luck and being in the right place at the right time when the FSBO decides to list is key.

There are also ways to increase your odds as you mentioned. Referrals, mailings, door knocking, introducing yourself to the FSBO, etc. are all very effective. Get known in that neighborhood or town through your advertising, listing signs, and website.

It's amazing how many calls Jim and I get from our website, www.jimmessenger.com, from FSBOs or Expireds. They say "your website keeps coming up when I search" and they know buyers search on the internet.

Since either they or their last agent didn't find them a buyer, they just know we will - it's a pretty easy listing presentation. We show up and they sign.