For Sale By Owner (FSBO) Leads
FSBO Leads from Espresso Agent
For Sale By Owner properties represent opportunity -- nationwide, 9 of 10 FSBOs fail to sell on their own. FSBO homeowners are motivated by their bottom line.
In robust markets, if a FSBO homeowner does not have an offer in hand in two weeks, many become realistic about the need for a professional’s help. Within four weeks, nearly 70% of FSBO homeowners re-list their property with a listing agent.
Espresso Agent’s lead generation software is proven to get you more FSBO leads in less time. Contact us to learn more!
Leverage The Power Of FSBO Leads
If you study the playbook of the top-performing real estate agents in the country, you’ll find that FSBO lead generation plays a vital role in their business strategies. They know that a FSBO listing today may not generate immediate income. But in time (usually a short amount of time), FSBO homeowners are often ready to work with a professional who knows how to find buyers at the best possible price.
If you’ve been wondering how to find FSBO homes or how to find FSBO, you’ve come to the right place. Espresso Agent is your source for the best real estate FSBO leads in the industry.
But having great FSBO leads at your fingertips each morning does not alone guarantee success. You have to put yourself in the mind of someone who wants to sell on their own.
If you’re new to the world of For Sale by Owner, here are a few statistics worth noting (all data from the National Association of Realtors unless indicated otherwise).
Only 10% of FSBOs choose to go it alone instead of using a real estate agent.
The average FSBO home sells for $260,000 compared to $318,000 for agent-sold homes, a difference of 22.3%.
34% of FSBOs did not need to market their home because they already had a buyer lined up. Interestingly, sellers who already had a buyer lined up had to reduce their price MORE than sellers who didn’t have a buyer lined up.
About 7% of all home sales are FSBO listings.
41% of all FSBOs decide to sell independently because they want to avoid commission.
Yard signs (26%) and friends/family (23%) are the most common ways for FSBOs to market their own homes.
The most difficult tasks FSBOs face when it comes to selling their property are prepping their home for sale (17%), getting the right price (14%), and handling the paperwork (11%).
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FSBO Prospecting Requires Patience
Despite the apparent benefits of working with an agent, prospecting homeowners on your FSBO list requires patience to build rapport and trust. So as you begin to work your for sale by owner leads, keep the following tips in mind:
It doesn’t take long for many FSBOs to get frustrated by selling their own home, which is why keeping your name top-of-mind with them is essential. A video email through Espresso Agent’s StoryTellr application is a great way to keep you front and center with FSBO leads.
Great notes allow you to play back salient information in future conversations with a FSBO, thus showing them your level of interest in selling their home.
FSBOs are often unsure whether they’ve made the right decision to sell independently. You can build trust by affirming their conclusion: “Great idea to sell on your I think you’ll have a lot of success. And if you need any help, let me know.” FSBOs must conclude that they need an agent to sell quickly and at the best price.
It’s essential to keep your eagerness in check during an initial call and not jump right in with the hard sell. Remember, your initial call is about building trust and rapport with someone who has already decided to sell on their own.
How can you provide value for a FSBO? Maybe you can answer questions about paperwork. Or suggest excellent landscapers to improve the curb appeal for the FSBO. By supporting their efforts in the short term, they are more likely to remember you when they’ve come up empty after a few weeks of selling on their own.
Asking The Right FSBO Questions
As we suggested, working with FSBOs requires patience and a subtle form of engagement to build rapport and trust. Here are several questions that can help you to build this initial rapport:
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