Like, you have dozens of eager buyers in your back pocket, writing contracts left and right for just about any home they can afford and yet… Nothing? No dice? Not a chance? Your foot’s not even in the door thanks to cash offers and absurd escalation clauses.
If your town is anything like mine, then you desperately NEED listings. I mean, I’m looking at the hot sheet right now and it shows 55 properties listed and 52 pending. Now, I live in a pretty small town so those numbers may sound small to you (and trust me, they are for me too. Last year around this time the numbers were double and triple what they are today) but since March we’ve had thousands of buyers flock here in search of safety from the pandemic. Our market just can’t keep up with the buyer demand, forcing us realtors to scramble for listings.
And I know you’re thinking, “But, Nicole, how am I supposed to get listings if no one in my area is willing to sell?”
So glad you asked!
And I know this is no easy feat, but I have 5 good reasons why a FSBO should list with you in a seller’s market that you can use as selling points when speaking to them.
As you already know, agents represent the seller. We go to bat for them, negotiate on their behalf and follow fiduciary duties to both the sellers and fellow agents. But, most importantly, most FSBOs have never sold a home on their own before. This poses plenty of complications and concerns that can (and will) arise in the transaction.
A few great “paint-the-picture” kind of questions you can ask them are:
These questions are what I consider, “selling, not telling” pointers - open ended questions which convince clients and sellers to arrive to the conclusion on their own that - hey, they actually do need you after all!
As an agent, we think #1 (Representation) is the #1 thing, but for FSBO sellers, this is actually the #1 thing (following me?)
The motivation for FSBO sellers always comes down to the bottom line - their net. Of course, there are many ways in which we can net them more money and every agent has their secret tricks and ways they market to bring a better price - whether that be by raising the purchase price or lowering your commission. But, if you’re not exactly apt to either of those suggestions, you can always try mentioning these:
With years of experience and dozens to hundreds of properties sold, you are the expert here! Having a sound understanding of the inner workings of the market is important for a few reasons:
As we all know, listing your property on the MLS just isn’t enough anymore with out-of-town buyers flooding the market and modern advertising taking over outdated and inefficient practices. It’s important to convey to these FSBO sellers exactly how you intend to market their home to target an ideal buyer and what makes your strategies better than your competitors. Maybe you have a great stager, or you have the best photographer or videographer in town, or you send out mailers and ads on Facebook. Tout whatever tricks you have up your sleeve that others don’t or wouldn’t do.
It’s important to note that you do this every day. Afterall, putting the buyer and seller together is your specialty. But, more than that, you’re the expert at facilitating the sale from start to finish… and, you do it full-time.
You have all the resources available. You field the calls and set appointments, provide a lock-box, hold the house open, have errors and omissions insurance (just in case), you have the tools to send documents electronically, and you work with dozens of qualified professionals in different fields to help along every step of the way.
While these things are a part of your job description and seemingly come natural to you, they are HUGE pains for the seller. They can’t exactly drop everything to show their home, they don’t have the time to learn every ethic and code, and they don’t have the experience and knowledge that you have to properly facilitate the deal on their own.
It really is that simple.
Go get em' tiger