How REALTORS overcome For Sale By Owner (FSBO) listing presentation objections
As online platforms like Zillow and Realtor.com become more and more popular, clients will come to you with more FSBO listing presentation objections. It might seem easier for them to list the home themselves. Or, they don’t want to pay you a commission. We work with our clients here at Icenhower Coaching and Consulting on objection handling like this. Whatever the objection, you must prepare yourselves with a few scripts to combat these common FSBO listing presentation objections.
VIDEO: How to Overcome FSBO Listing Presentation Objections
Common FSBO Listing Presentation Objections
Sometimes a seller will say (over the phone or during a virtual listing consultation) that they want to wait. They have different reasons, but one example would be “I want to try to sell it myself first.” This is a FSBO listing consultation objection and ultimately you want them to see the benefit of listing with you.
One way to handle the objection is to first tell the seller that you understand where they are coming from. If they want to try listing it themselves as a FSBO until a certain date, tell them that’s fine. If this happens during your listing presentation, great! Take some time to ask them a few questions that may lead them back to wanting to list with you sooner rather than later.
Educate your client on the market
One point to hit on is that the inventory in the market is low right now. Supply is low and demand is high. FSBOs get minimal exposure. Most homebuyers (I would say 98%) use a Realtor to buy a house. Realtors help buyers find a home by searching the local MLS. FSBOs aren’t on the MLS. Therefore, in order to raise the sellers chances of getting the best price for their house, listing with you is in their best interest.
Especially during COVID-19, FSBOs feel very hidden. You may have a sign in your front yard, but not many people are out and about. People are staying at home, and buyers trust a Realtor. Now more than ever, buyers will want to have a professional on their side to make sure the process goes smoothly. FSBO listing presentation objections are common, but in this current market there are a lot of reason to go with a Realtor.
Why choose a Realtor?
Yes, your potential client could post their listing to Zillow or Realtor.com, but buyers that are working with Realtors will rely on their expertise. And Realtors will show buyers listings on their MLS. Zillow is a secondary news feed. Most of the properties on Zillow are the homes no one wanted to buy. The best priced homes that are the most desirable and in the best shape typically sell in 24 hours with multiple offers. Those houses don’t ever make it to Zillow. We as Realtors have full access to live data from the MLS, and we have the ability to give that access to our clients.
One thing to worry about with these FBSOs is that they are talking to multiple Realtors. They may be working the system and talking to multiple agents and asking them to bring a buyer. Watch out for that! They may be having multiple listing presentations and presenting the same FSBO objections to every agent. All you can do is move them closer to signing the listing agreement and be wary of someone trying to take advantage of you.
Persistence and coming from contribution are key
The best thing you can do is to stay with your potential client every week. Set them up on a listing alert email. Call them about status changes in their neighborhood. Converting most FSBOs is a 6-week process. Communicate and add value for 6 weeks, and you will see that they will likely list with you. Keep trying! Continue to talk these FSBOs through their objections in additional listing presentations. Try to hold a virtual open house. Keep giving them CMAs. Keep washing their windows! Come from contribution until they change their tune.