The Real Estate Agent's Guide to FSBOs

Make Big Money Prospecting For Sale By Owner Properties

The Real Estate Agent's Guide to FSBOs

Author: John Maloof
Pub Date: October 2007
Print Edition: $19.95
Print ISBN: 9780814400432
Page Count: 240
Format: Paper or Softback
e-Book ISBN: 9780814409664

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Table of Contents

Contents

Acknowledgments ix

Introduction 1

Chapter 1: The FSBO 7

What Is a FSBO? 8

Why Do We Need FSBOs? 9

Why Do Sellers Go FSBO? 10

Why Sellers Go Broke Selling FSBO 11

Chapter 2: Understanding What It Takes 13

Overcoming Emotional Hurdles 14

Self-Management 19

Taking Action 25

Living Healthy 28

Chapter 3: FSBO Prospecting Plan 33

Defining Your FSBO Boundaries 34

How to Find FSBOs 34

Where to Find FSBOs 37

Using the Internet to Find FSBOs 40

Bringing FSBOs to You 41

Using Open Houses to Find FSBOs 42

Chapter 4: Know Thy Competition 47

FSBO Websites 48

Discount Brokers 50

Other Agents 51

Preparing Yourself for the Competition 52

Being Aggressive 53

Offering Full Service 54

Chapter 5: The FSBO System 55

The Tools 56

FSBO Number Check 56

The FSBO Journal 60

Ranking the FSBO by Personality 63

If You’re an Excel Pro 65

Subcribing to FSBO Lead Provider Services 67

Chapter 6: FSBO Sales Techniques 71

Preparing for the Phone Call 72

Using Questions to Control the Conversation 77

Closing Techniques 81

Making the Calls 85

Three Calls to the Listing 93

What to Do After the Call 95

Chapter 7: Special Telephone Techniques 99

Communicating Effectively 100

Handling Objections 105

Dealing with Tough Sellers 111

Discussing Fees, Discounts, and Incentives 117

Summing Up 123

Chapter 8: The FSBO Listing Presentation 125

The Listing Appointment 126

The Presentation Setting 132

The Presentation 134

Pricing the Listing 139

Chapter 9: The Marketing Plan 145

Market Exposure 146

Six Great Marketing Ideas 146

Having More to Offer Than the Competition 152

The Bottom Line 152

Your Resume 155

E-Mail Drip-Marketing 156

Direct Mail 158

Written Testamonials 158

Chapter 10: Farming for FSBOs 161

Finding the Most Profitable Farm 162

Tracking Your Farm 165

Automating Your Farm Mailing System 166

Keep Mailing! 168

Farm FSBOs 169

Farm Fuel 170

Your Mug Shot 170

Your Slogan 171

Your Mission Statement 172

Chapter 11: Putting Your For-Sale Signs to Work 175

Converting Calls into Sales 176

Three Types of Buyers 176

Converting Buyers into Sales 177

Sign Call Dialogue 182

Putting a “Sold” Rider on Pending Listings 184

Chapter 12: Servicing Your Listings 187

How to Professionally Service Your Listings 188

Open Houses 191

Revising Your CMA 193

Taking Multiple Photos 193

Making Professional Brochures 194

Getting MLS Training: Using Reverse Prospecting 194

Sending Mass E-Mail Flyers 195

Mailing Proof of Advertisements 196

Chapter 13: Building a Referral Base 197

80/20 Rule 198

Keeping Your Clients Forever 198

Mailing Your Past Clients 200

The Automated Referral System 203

Belonging to Something 204

Appendix A: Resources 207

Appendix B: FSBO Facts 211

Appendix C: Sample Forms 215

Index 219

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