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How do you overcome the common objections of FSBO sellers?

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If you're a real estate agent looking for more leads, you might have considered contacting FSBO sellers. FSBO stands for For Sale By Owner, and it means that the homeowners are trying to sell their property without hiring an agent. However, FSBO sellers can be challenging to work with, as they often have some common objections to hiring an agent. In this article, we'll show you how to overcome these objections and convince FSBO sellers that you can help them sell faster, easier, and for more money.

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1 Understand their motivation

The first step to overcoming FSBO objections is to understand why they decided to sell by themselves in the first place. Usually, FSBO sellers have one or more of these motivations: they want to save money on commission, they think they can do a better job than an agent, they have a personal or emotional attachment to the property, or they have a distrust or bad experience with agents. By asking open-ended questions and listening carefully, you can discover their motivation and tailor your response accordingly.

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Bengy Momprevil

Expert Real Estate Broker ?? Connecting You with Your Dream Home ?? Top-Notch Marketing Strategies ?? Over Half Decade of Experience ????
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One approach to understanding the seller's motivation is to put yourself in their shoes. Imagine if you were selling your own property, what would be your primary concerns and motivations? Another idea is to establish rapport and build trust with the seller. Show genuine interest and concern for their needs and goals, and be transparent and honest about your own intentions. This can help to create a positive and collaborative atmosphere, and make the seller more receptive to your suggestions and advice. Lastly, consider offering a limited service package, such as helping with paperwork or staging, to alleviate their concerns about paying full commission.

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2 Highlight your value

The next step is to highlight your value as an agent and how you can help them achieve their goals. For example, if they want to save money on commission, you can show them how you can negotiate a better price, market their property more effectively, and handle the legal and contractual aspects of the sale. If they think they can do a better job than an agent, you can explain how you have access to more buyers, tools, and resources, and how you can leverage your expertise and network. If they have a personal or emotional attachment to the property, you can empathize with them and show them how you can make the process less stressful and more rewarding. If they have a distrust or bad experience with agents, you can demonstrate your professionalism, integrity, and communication skills.

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Lana Orlando - Hickey

Real Estate Broker, Realtor?
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Remind them you’re listening and have a clear understanding of their goals. Offer something such as, “I hear you. Let me make sure I have this right; you’re looking for “xyz” from my part in this transaction.” Pause, and let the client confirm. Make sure their goals are understood and that you can achieve them. Explain how you can reach their goals. This should have gained more trustworthiness from the client-Simply listening and applying your skills to the client’s needs.

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Sabine Rolnick

Realtor at Berkshire Hathaway HomeServices Chicago
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There are several things I do to highlight my value. 1) Share with them my experience 2) Share with them testimonials 3) Share with them my background as both a former professor and real estate broker and how I educate and prepare my clients through the entire process 4) Back it up with data and share how working with a real estate broker typically leads to houses closing faster and for money 5) Share how valuable professional pictures, marketing and even staging can make a huge difference 6) Most importantly - I connect with them on a human level and how I put their best interests first.

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3 Address their concerns

The third step is to address any concerns or objections they might have about hiring an agent. Some of the common concerns are: they don't want to sign a long-term contract, they don't want to pay upfront fees, they don't want to make any changes to the property, or they don't want to deal with multiple agents. To address these concerns, you can offer them flexible terms, such as a short-term contract, a performance-based fee, or a cancellation clause. You can also explain how any changes or improvements to the property can increase its value and appeal, and how you can handle all the inquiries and showings for them.

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4 Provide proof and testimonials

The fourth step is to provide proof and testimonials that back up your claims and show your credibility. For example, you can share your track record of successful sales, your market knowledge and analysis, your marketing plan and materials, and your testimonials and reviews from previous clients. You can also offer them references or referrals that they can contact to verify your reputation and results.

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Bengy Momprevil

Expert Real Estate Broker ?? Connecting You with Your Dream Home ?? Top-Notch Marketing Strategies ?? Over Half Decade of Experience ????
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While proof and testimonials are essential to building trust and establishing credibility with potential clients, it's important to note that relying solely on these factors may not be enough. Sometimes, even the most experienced and reputable real estate agents may face challenges or experience a slump in sales due to factors beyond their control, such as market fluctuations or unexpected events. Instead of solely relying on past successes or testimonials, it's important to also showcase your problem-solving skills and ability to adapt to changing circumstances. Share examples of how you have overcome challenges in the past and demonstrate your willingness to go above and beyond to help your clients achieve their goals.

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5 Follow up and build rapport

The fifth step is to follow up and build rapport with the FSBO sellers until they are ready to hire you. You can do this by sending them valuable information, such as market updates, tips, and resources, that show your interest and expertise. You can also check in with them regularly and ask for feedback, questions, or concerns. You can also invite them to events or webinars that you host or attend, or send them cards or gifts on special occasions. The goal is to stay in touch and build trust and rapport with them.

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6 Ask for the appointment

The final step is to ask for the appointment and close the deal. Once you have overcome their objections and established your value, you can ask them for a face-to-face meeting where you can present your proposal and contract. You can also use a trial close or a assumptive close technique, such as asking them when they are available to meet, or asking them if they have any questions before signing the contract. You can also use urgency or scarcity tactics, such as telling them that you have other interested buyers or that the market is changing fast. The key is to be confident and assertive, but not pushy or aggressive.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Florence Mattar

Real Estate Broker- Beverly Hills Los Angeles,California
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Global exposure by a company like Coldwell Banker will bring you more offers and higher than if the seller is trying to sell it by himself. Also, a broker will make sure all required documents are signed and keeps track of the escrow process. At the end of the day the seller is ahead in every way.

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How do you overcome the common objections of FSBO sellers?

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2

3

4

5

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1 Understand their motivation

2 Highlight your value

3 Address their concerns

4 Provide proof and testimonials

5 Follow up and build rapport

6 Ask for the appointment

7 Here’s what else to consider

Real Estate

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How do you overcome the common objections of FSBO sellers?

1

2

3

4

5

6

7

1 Understand their motivation

2 Highlight your value

3 Address their concerns

4 Provide proof and testimonials

5 Follow up and build rapport

6 Ask for the appointment

7 Here’s what else to consider

Real Estate

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