A FSBO prospecting plan is a necessity for real estate agents looking to successfully convert For Sale By Owner (FSBO) sellers into listings. A very small percentage of FSBO sellers are converted into listings from the first contact you have with them. Therefore, a FSBO Prospecting plan that keeps agents in contact with FSBO sellers for 6 to 8 weeks is crucial for increasing listing conversion rates.
Watch as Icenhower Coaching & Consulting’s founder Brian Icenhower explains the importance of follow-up and having a FSBO prospecting plan in this brief video segment from ICC’s online course on real estate prospecting.
FSBO Prospecting Plan Components
Make sure to add FSBO contacts to your CRM and set them on a 6-8 week FSBO prospecting plan where you make contact with them a minimum of 5-6 times. The best way to convert a FSBO listing to your listing is to prove that you are a problem-solver. Your services, tools, and strategies have value to homeowners looking to sell their property and those wanting to buy a home. With FSBOs, you’re not looking to find fault with their efforts so much as exhibit a vast difference between your level of systems and theirs.
During the six or so weeks of working through your FSBO prospecting plan, you’ll need to contact them at least 5 or 6 times, through email or by personally dropping off helpful information at the home. But the very best way to connect and establish rapport is with a personal phone call, and we highly suggest one phone call a week for every FSBO seller that you’re beginning to build a relationship with.
Fillable Buyer and Seller Lead Sheets
FSBO Prospecting Plan Value-Adds
- Set FSBO Sellers up on listing eAlert emails so they can stay update on other listings & sales in their neighborhood.
- Send or drop off a Comparative Market Analysis (CMA) for their home
- Send or drop off a pre-listing consultation packet.
- Coordinate a joint open house with them to send traffic to each other’s open houses. Also give them an open house guest list form and some signs to use.
- Show the FSBO home to as many of your buyer clients as possible.
- Call them with updates about every home in their neighborhood that is just listed, goes sale pending/under contract, and sells. Keep them informed and explain how these status changes impact their homes’ values.