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FSBO Script


FOR SALE BY OWNER SCRIPTS AND DIALOGUE
KEEP IT SIMPLE: Don’t overcomplicate this first call and focus on setting an appointment with the seller. Your competition is probably trying to be the seller’s best friend on day one. Show them you are genuinely working for your buyers which they will appreciate.
EARN THEIR TRUST: As you’ll notice in the script, we instruct you to call on behalf of your buyers. Doing this takes the focus off you onto your clients. Be sure to use their first names so the seller knows they are real, and earn his or her trust by staying professional and concise about your reasons for calling.
ACCOMPLISH YOUR GOAL: There are a lot of directions that this conversation can go, and the script only covers a few of them. Make sure you know your talking points, avoid getting caught in negotiations1, and schedule the appointment.
This script and the footnotes go into complex issues which should not be considered legal or brokerage advice in any way. All activities should be approved by your supervising broker. Any suggestions should be considered as such and may not conform to legal or local standards and should be considered generalizations.
IF YOUR CLIENTS LIKE THE HOME
Proceed with the negotiations and be sure to get your supervising broker involved.
IF YOUR CLIENTS DON’T LIKE THE HOME
Call the owner back with feedback about the showing. This is where you can try to work towards earning a listing. Script for follow up call below:
Hello [Seller’s Name]. I wanted to call to say thank you for letting us view your home. I have a feedback report that I’ve prepared for you and I was hoping there was a time that I could drop by and give it to you. Is there a time that works for the two of you this week or next?
NOTE: This is a report that you need to create by gathering your clients’ remarks, market statistics, suggested pricing, etc.
When you drop off the report, you want to see if you can get 10 minutes of their time to show them the feedback and discuss the rest of the report. This is your chance to start building rapport, so prepare a list of questions to ask them, such as:
  • Have you been getting any more interest in the home?
  • Why do you think it’s taking longer to sell?
  • What’s the most important thing to you, timing or price?
  • Have you talked to any other real estate professionals and what has been their advice?
  • Have you considered what you’ll do if it doesn’t sell? If it doesn’t sell, will you take it off the market and stay in the home?
  • Have you thought about working with a real estate agent?
From here, you are working towards identifying ways you can bring value and earn their business3.
Footnotes
1. Be careful not to say things like, “My buyer may be willing to pay my commission,” or “We can build the commission into the sales price.” This could undermine your buyer’s negotiation position and cause problems for you when it comes time to try to put together a deal.
2. If you are wondering how this can be accomplished, we’ll explain. Let’s say the asking price of the home is $250,000, but your clients think it is worth $240,000. You, the agent, are willing to do the deal for 4%. You explain to the sellers your buyer thinks the home is worth $240,000, but they will pay $250,000 to cover the commissions. The seller nets the same as if the buyer had paid them what they felt the house was worth. Obviously, your buyer has to be okay with this arrangement as the perception of value is entirely up to the buyer. Talk to a seasoned agent to gather other ideas related to building value into the transaction for both parties.
3. You’ve transitioned to someone who the FSBO has an open dialogue with. This is now a “listing lead” and should be treated as such with a follow-up plan and consistent communication. Remember the old adage that the FSBO will list with the real estate agent who stays in touch the longest. Find unique, genuine ways to bring value to the FSBO and you might just benefit from the law of reciprocity.