How to Prospect FSBO and Expired Listings

For Sale by Owner Sign

Real estate agents and brokers all know about the value of For Sale By Owner and Expired Listing leads from the start of their career.  However, obtaining these listings is easier said than done for most. As an experienced broker and leader, you can help your agents mine these leads. All your agents need is the know-how, the perseverance and the tools to get the listing appointment and close the deal.

Where To Find FSBO & Expired Leads

In the past, agents were limited to knocking on the doors of properties that had a FSBO sign out front or manually keeping track of desired listings that fell off the market. While both of these activities still exist, there are far more efficient methods available.

Finding FSBO Leads: The majority of agents are targeting these difficult listings by purchasing call lists, scripts, and professional dialers. However, if you prefer an out-of-the-box approach you can run a few simple searches online. Start by checking platforms like Facebook Marketplace, Craigslist, and FSBO.com. A simple search can also be run on various other social media platforms like Twitter or Instagram by typing in strategic hashtags like #fsbo in the search bar and then filtering the results by location.

Finding Expired Leads: Again, a list can be purchased to find leads and a quick search through the MLS will help to identify properties that have recently expired or are about to expire. If you plan on targeting expired listings regularly, it also makes sense to create valuable content like blogs, ebooks, and videos targeted at that audience and share that content to social media. Many agents have success by running ads to a landing page for a free downloadable guide on topics related to selling a home or whether FSBO is the right option.  Then collect their email address and put them into a drip campaign to nurture them from there.

How To Get In The Door

Once you have identified your list of leads, it is important that you make a strong first impression and have a solid follow up schedule with the lead in case you don’t get the appointment on the first try. It is a good idea to have at least a rough script ready if you plan on calling your leads directly. Remember that Expired’s and FSBO’s are far more skeptical than a regular client so be prepared to handle objections and clearly communicate your unique value and the fact that you understand their perspective. If they are hesitant to book the appointment, don’t give up;  get their email address so you can continue to follow up through a strategic drip campaign through your real estate CRM automatically.

Closing The Listing

Getting your foot in the door is half the battle. The other half is getting them to sign a listing agreement with you before you leave that appointment. Obviously, having a strategic listing presentation and sales materials that touch on their pain points and illustrate exactly how you can solve their problems will help you shine. However, it is also important that you follow these simple tips:

Listen first: Most of the time sellers will tell you what is holding them back from signing a listing agreement and why they were FSBO in the first place. Be ready to prove your value. Be careful to swallow hard and listen and empathize without getting defensive, so you can identify their specific objections and explain your solutions when they are done.

Explain your resources and your value-add carefully: Sellers just don’t have the same access to tools and marketing resources that you do and they have no idea what goes on behind the scenes. If they are an expired listing, they may be  frustrated with their last agent and their process and skeptical of yours. Make sure you let them know specifically, why and how this experience with you will be different, and just how active you will be in marketing their home, beyond just the MLS listing.

Weichert, for example, has dedicated real estate agent marketing resources tailored to these consumers. It’s material cultivated from long experience overcoming the objections of FSBO and Expired sellers. With advanced tools like our customized listing presentations for Expired and FSBO properties, we show clients their home and our value in a highly professional, intelligent, and unique way that sets Weichert apart. Our presentations, and the technology and processes supporting it, are one of the many reasons why brokers tell us their agent close rates improve after becoming part of the Weichert family.

Arrive on time: It may sound simple, but arriving late can put a nasty taste in a seller’s mouth from the start. They don’t care about your excuses and being late only shows that you won’t treat them and their listing like a true priority.

Lead Generation Needs a Consistent, Multichannel Process

As a broker, it can be challenging to provide your team with all of the tools, training, and resources agents need to generate and close leads. While Expireds and FSBO’s are just a portion of a healthy lead generation plan, they still offer a way to  improve your bottom line. As a Weichert Affiliate, you have access to tools and resources, such as sales and marketing materials, direct mail, lead gen and CRM technology, to nurture leads from a variety of channels and support your agents.

Visit https://www.weichertfranchise.com to learn more about the Weichert System and how it propels brokers and agents to new levels of success.