Learn this script for FSBO prospecting and download our free FSBO Seller Guide to start converting more FSBO listings.
Today we are going to talk about a script for FSBO (for sale by owner) prospecting that will help you convert more FSBO listings. Along with that script, we are giving you a free download of our FSBO Seller Guide. As you’ll learn, FSBOs may seem a tough nut to crack, but with patience, persistence, and coming from contribution, you may find your new favorite form of prospecting.
VIDEO: Script for FSBO Prospecting
Why do people list their home For Sale By Owner (FSBO)?
The reasoning behind the motivation that some people feel to list their home as FSBO comes from a few factors. Some people generally distrust real estate agents. They think we are all just a bunch of lying salesmen. Some people feel that what we do is not hard, and that they can do it themselves and save money. And still others may have had a bad experience with a Realtor and now they feel that all Realtors are incapable, so they’d rather do it themselves.
FSBO sellers usually dig in pretty hard on their position. So, if you push too hard in arguing with them, it may backfire. It can get hostile. That said, don’t quit. FSBOs offer an amazing prospecting opportunity. There are a lot of Realtors that prospect for FSBOs in hot, low-inventory markets, like the one we find ourselves in now.
After you try to convince a FSBO seller that it isn’t a good idea, and you explain all the risks involved of selling FSBO, and they still don’t give in, you need to simply give it time. FSBOs do incredibly poorly in terms of sales time and sales price. Even in a low-inventory market, they will still only get a fraction of the price that they would get if they sold with an agent. Such a small percentage of FSBO listings successfully sell. Most (60%) end up giving up and selling with an agent. Therefore, it might be a good idea to befriend the FSBO seller and stick around for a while. So, how do we do that?
Script for FSBO prospecting: Let me help you
Once the FSBO seller has concluded that they will go ahead and list their home as a FSBO, your dialog can go something like this:
Okay, I completely understand. Why don’t you go ahead and try to sell your house on your own, and I can still help you.
Then, you give them this FSBO Seller Guide. You can download it for free below.
The FSBO Seller Guide as a part of your script for FSBO prospecting
When you hand the FSBO seller this printed packet of information, you are doing a few really cool things. First, you are genuinely helping them. You are providing them with great advice on how to properly sell a home as a FSBO listing. Second, you are showing your expertise in the industry. And third, you are making a big impact by coming from contribution. If and when the FSBO seller decides this is all too complicated and stressful for them to take on, you will be the agent they call to list their home.
You can really use this FSBO Guide packet as a part of your script for FSBO prospecting. It’s a great conversational guide, if your FSBO sellers wants to talk more about it.
The FSBO Guide covers everything from explaining why you are giving them this packet to disclosures, open houses, and the pros and cons of using the MLS as a FSBO. Download the guide for free — it’s editable, and you can put your own logo on it, customize the colors, and update the text as you see fit.
The 6-week FSBO plan
With every FSBO, we prescribe a 6-week plan. Generally, you should reach out once a week. Phone, text, email, Facebook DM … you are slowly trying to bring them into your web. You want to constantly check for something of value to present to the FSBO seller. If a new listing comes up that is higher or lower than their house, you might reach out and share whether that is a bad or good comp for them. If a house goes pending in their area, you could call to share how that would change the value of their home in 30-45 days. These are all issues that the FSBO seller will be completely clueless about.
FSBOs are the best way to start a geographic farm. They are a gateway into a neighborhood! If you see a FSBO listing in a neighborhood that you want to get into, that can quickly turn into a farm if you can convert them.
Patience is key. Typically, FSBO sellers are very resistant to pressure. The 6-week FSBO plan keeps you consistent without being annoying. And the script for FSBO prospecting, along with the FSBO Guide for FSBO sellers, will give you the material to back up everything you’ve been telling them. Be helpful. Don’t be adversarial.
More FSBO Prospecting Scripts
If you’re looking for more script ideas for FSBO prospecting, we have a download with numerous scripts for FSBO sellers. Click the link below: