Real estate agent Brandon Mulrenin lists 30-50 FSBOs per year. He uses the right approach, mindset, and a great FSBO script.
Marketing to FSBOs can be a low-cost, effective way to grow your business. It’s also a natural companion strategy to working expired homeowner leads. Here are a few tips for getting the most out of this prospecting strategy.
Check Local Newspapers
One of the best strategies for finding FSBO lead sources is to check local newspapers. These publications often contain some listings that are for sale by the owner. Regularly checking these listings lets you know when homeowners are considering selling their homes. This allows you to approach them with a professional listing presentation.
Another way to find FSBO leads is to use a reputable real estate marketing app or website. These tools can provide you with a list of FSBO listings, including their contact information. They can also be used to track a home’s sales progress.
FSBO lead conversions can be difficult in a seller’s market, but you can overcome this challenge by showing FSBO sellers the value you bring. For example, FSBO sellers who have previously tried to sell their homes without the help of a real estate agent are more likely to understand the need for professional marketing and expert negotiating skills.
Once you have a list of FSBO leads, it’s important to follow up with them frequently. This will keep you top of mind, and it may even convince them to list with you. To do this, consider using a renowned lead management system. This tool is affordable, provides a wealth of FSBO data, and offers training and support to ensure you get the most out of every prospect.
Check the County Delinquent Taxpayer List
If a homeowner hasn’t paid their property taxes for a while, they will eventually be on the county delinquent list. As a result, they may need to sell their property at a loss to pay their debts. This is why many real estate agents use the county delinquent list to find motivated sellers.
These lists are usually public records; you can purchase them for a nominal fee. Once you have the list, you can call prospective sellers to see if they are interested in selling their property. If they are, you can offer them a lower price than they’d receive on the open market.
Another option for finding FSBO leads is to use a real estate data service that provides lists of FSBOs in your area.
Check Local Real Estate Websites
If you’re a real estate agent looking for FSBO leads, there are plenty of places to find them. Many home sellers advertise their homes on websites; some put up real estate fliers in their neighborhoods. You can also search for FSBO properties by driving around and noticing signs in front of the homes that say “for sale by owner.”
One good strategy is to use software that searches local classified ads, newspapers, and websites for homes listed as FSBO. This can give you many leads at once and is easy to use. However, it’s important to note that the leads may be older and may have already been contacted by other agents. In this case, your challenge is convincing the homeowner that you can help them sell their home faster and for a higher price than they could achieve.
Getting a foot in the door of an FSBO seller requires much persistence. Once you meet with the homeowner, it’s crucial to demonstrate that your exceptional marketing strategies and wealth of real estate experience will help them sell their home quickly and for the highest profit possible. This can be challenging, as most FSBOs object to using a professional real estate agent.
Check Your Local Community
FSBO lead sources are properties listed for sale by the homeowner and not represented by a real estate agent. While FSBO properties offer several benefits to home sellers, including avoiding listing agent commission fees and paying buyer’s agent fees, FSBO listings only account for 7% of all residential property sales nationwide. For real estate professionals, identifying and converting FSBO leads is key to growing their business.
In addition to traditional real estate websites can also find FSBO leads in local community groups on social media. These communities are ideal for targeting homeowners who may be interested in selling their homes or have already tried to sell them without success.
This old-school strategy requires some legwork to identify FSBO leads but can pay off in the long run. By setting aside a time block each day to prospect FSBO leads, you can build relationships and demonstrate the value of your services.
FSBOs are a valuable source of real estate leads, and many FSBO listings will eventually hire a professional to sell their homes. Focusing on FSBO lead generation for real estate agents can be a great way to add new clients to your business and boost your bottom line.
