As you may have guessed, converting expired listings for sale by owner leads can be challenging. They’re typically more skeptical than a regular client, so you must be prepared to handle objections and communicate your value.
Thankfully, several tools can help you win over these homeowners. Here is a compiled list of tips from some real estate agents that can make converting these leads into clients easier.
Get an FSBO Listing
FSBO listings and expired leads can be an incredible source of potential business for agents willing to do the work. However, they can also be challenging and frustrating if you need to prepare for the obstacles that may come your way.
First, you must ensure you’re sifting through expired listings that have been on the market for a while and have had price reductions. It indicates that the seller doesn’t have unrealistic expectations or isn’t emotionally tied to the property, making it difficult for an agent to sell it.
You can easily create an expired list by searching through the MLS or buying one from an online lead source. Once you’ve identified these leads, contact them regularly and nurture the relationship.
The more you call these leads, the easier for them to pick up the phone and schedule an appointment with you. It takes time and effort, but the calls will become more natural once you build a relationship with them.
Have a Script
Using a script on the phone is one of the best ways to convert FSBO and expired leads. It helps you communicate clearly and consistently, making setting appointments easier.
The right script also helps you avoid the most common cold call mistakes. It also gives you the confidence to change your approach midstream if you are not getting the best results.
When calling FSBO and expired leads, it would be best to be ready for anything. Having a script can save you time and help you stay focused on your primary goal: should cultivate a connection with these homeowners so they will turn to you for assistance.
The best FSBO and expired lead scripts are short, sweet, and to the point but friendly enough to build trust and show your value. They also help you get to the core of what the homeowner needs and provide solutions. These scripts can also be customized to meet the specific needs of your FSBO and expired lead clients.
Have a Real Conversation
When you’re on a call with FSBO or expired leads, it’s crucial to have a real conversation. So please don’t rely on a script; instead, respond to their questions and objections in a way that is tailored to the situation.
It’s also important to realize that these conversations will be challenging. You may get annoyed, mad, or disinterested in people; however, the key is avoiding taking it personally and staying focused on setting a listing appointment.
You can convert these leads into listings if you have the right mindset, persistence, good FSBO, and expired leads. But continue with more than just one or two conversions; following up and having a long-term plan for calling these leads is essential.
It will help you overcome obstacles, improve your FSBO and expired lead scripts, and ultimately set more listings.
Get a Showing
A showing is when a buyer can look at a home not listed by an agent. It can be a massive benefit for FSBO owners, as it will enable them to show their property in person and answer questions about the home in more detail than a real estate agent would be able to.
Most FSBO sellers want to avoid paying a commission, so that they won’t list their homes through the MLS. Instead, they may search for open houses or other listings by word of mouth.
Contacting the listing agent is one of the best methods for getting a showing. In most cases, the seller will gladly allow a buyer to tour their home.
The main issue with this strategy is how common it is for FSBO homeowners to share information about their properties. As a result, they may withhold things like roof damage, plumbing issues, or other problems that could affect the value of their home.
These objections can be a challenge to overcome, so it’s essential to have a script ready when you speak with these leads. In addition to overcoming their complaints, it’s also necessary to present them with a clear next step to lead them back to you as a potential listing agent.
Make the Offer
If you’re a seller, you may not want to make an offer on a home for sale by the owner (FSBO). You won’t have a real estate agent to help you make the right decisions and negotiate on your behalf. You might also need help getting repairs made or costs covered.
But if you’re a buyer, buying an FSBO is appealing because it means you can buy the house at a reduced price or with some money saved. It’s also an excellent way to understand the market and what similar homes are selling for in your area.