It’s one of the most feared, but lucrative spokes on the lead generation wheel – For Sale by Owners, or un-represented sellers. That’s what they are, right? Sellers who have decided not to be represented by a trusted real estate salesperson like yourself! They don’t have any special ‘powers’…they actually are lacking the one weapon they really need to get the job done – YOU! Master the skills of prospecting and conversing with FSBO’s and you can make the salary of one W-2 job per year off of this one lead source! How? Let’s do a little FSBO math and calculate our way to some big commissions!
Our first step is to identify and call (not email or text) a minimum of 10 FSBO’s each week. This can also include door knocking them and is actually even better if you can catch them face to face. Have a real conversation with a decision maker; thats the true definition of a contact. Some of you may even find in your market that you can contact 10 FSBO’s per day, but just to show you how powerful this method is, we’ll err on the conservative side.
Using a 10 per week minimum, statistically you can be assured that 1 to 2 of those FSBO’s will end up listing with you, even if your listing presentation is not completely polished and/or you’re nervous. Two others will turn into what we consider ‘good leads’ and of those two, one of them will list with you. The next three will either prove to be unmotivated or not fit into your other listing standards, and three more will somehow for some reason not count as real contacts.
So out of those 10 contacts, if you get even one listing appointment that you end up taking per week, that’s four new listings per month! Do you see how this is starting to add up?