Real estate agents who excel at mining FSBO and expired listings have tenacity and self-confidence. Cold-calling FSBO homeowners and sellers take time, but these leads can often become listing clients.
Build a List
As a real estate agent, looking for ways to get leads and clients continuously is vital. Many agents focus on pulling in new buyers and sellers through traditional methods, but another valuable source of clients is expired and FSBO leads listings. FSBO listings provide an excellent source of potential clients but require a unique approach to successful prospecting. Unlike other lead sources, FSBOs often have their contact information readily available, making them easier to reach. Furthermore, they have repeatedly tried selling their home independently and may be receptive to an experienced professional’s help getting the job done. The key to successful FSBO lead conversion is always to provide value. FSBOs are typically more skeptical than regular prospects, and it is essential to keep this in mind as you build your follow-up schedule. It is also important to remember to never ask for the seller’s business at the beginning of the conversation, or you will quickly turn them away. Instead, wait until you have established a relationship and demonstrated that you can meet their needs. When working with FSBOs, it is also essential to listen. FSBOs often share their experiences with other agents and why they decided to list independently, which can be very informative for newer agents. By listening carefully, you can address the seller’s objections and show them that you are the right agent for their situation.
Expired and FSBO leads are some of the most valuable prospects in real estate. They have already tried and failed to sell their homes independently and are more likely to appreciate the value an agent can bring. Getting these leads, however, requires a robust lead-generation strategy and marketing tools. Fortunately, agents who follow up with these homeowners consistently and provide them with valuable information can build a strong relationship and nurture the lead until it’s ready to re-list. The first step in prospecting expired, and FSBO leads are to get their contact information. Several paid services search local MLS listings and offer to send the resulting lists of seller leads directly into an agent’s CRM. Using these tools can save time and increase the success rate of reaching out to these prospects. These tools typically include a dialer that leaves prerecorded voicemails or text messages for expired, and FSBO leads to make it easier to connect with them. Once you have the contact information for a prospective FSBO or expired listing seller, you must contact them quickly. This will help you stand out from competitors and show the lead that you’re serious about assisting them.
Nurture the Lead
For those leads who aren’t ready to enlist your services right away, it’s important to nurture them by keeping in touch with them via email or text. You can even send them letters and social media posts. However, you’ll want to avoid blasting them with irrelevant content; this can make them feel cold and uninterested. Rather than sending multiple emails with the same content, try to personalize your messages and add a touch of creativity. You can also use your CRM to automate many of these touchpoints and monitor how practical your approach is; if a lead opens an email, clicks a link, or opens social media posts, that’s a sign that your message is working.
Some FSBO leads are very interested in selling their property and may be quick to schedule an appointment. Others, especially the skeptics, can be challenging to win over. You’ll want to be patient and respectful of their decisions and be prepared to answer any objections they have. If they’re still not convinced, you can consider offering an incentive to list with you. For example, you might host an open house at their home to showcase your skills and show you’re the agent they need. Or, you could give them a free valuation of their property.
Schedule an Appointment
After a few phone calls or emails, the seller will likely agree to meet with you and discuss their property’s sales options. To ensure your meetings are productive, you should have a plan of action to follow up with the lead after each interaction. This will help you nurture the lead by providing them with valuable information and advice about how they can successfully sell their home. One popular strategy for contacting expired listing leads is to send them a letter. This method is effective because it lets you personalize your message and establish a connection with the seller before scheduling an appointment. However, a successful letter requires thoughtful writing and targeted messaging to capture the seller’s attention. Another option for contacting expired listing leads is to use a paid service to search your local MLS and find owners with active listings who have recently expired. This service can save you time and energy by researching and compiling the data, making reaching out to FSBOs and expired listing leads easier. Many real estate professionals use a dedicated FSBO lead generation service to avoid the expense and hassle of manual data mining. These services can search the MLS for expired listing leads, provide you with their contact details and other valuable information about each property, and even assist with setting up appointments. They can also help you develop a comprehensive marketing strategy to convert these leads into clients.