How to Prepare for Your First For Sale by Owner Tour
Episode Summary
Exploring the Realm of For Sale By Owner: A Formal Introduction
Entering the world of For Sale By Owner (FSBO), real estate requires a different approach.
Real Estate Coach Dan Rochon of No Broke Months for Real Estate Agents shares the things you can prepare before your first for-sale by owner tour
Learn to prepare yourself and what you need to know about the process in this new episode of No Broke Months for Real Estate Agents.
Instead of chasing contracts, the focus is on creating connections. Let's explore a straightforward strategy for building rapport and offering value to win over FSBOs.
Understanding the Goal
For FSBO tours, the objective is clear – build relationships, not just secure contracts. Recognize that becoming their agent is not the immediate goal; it's about establishing a connection.
Rapport Over Deals
When dealing with FSBOs, forget about closing deals right away. Only one in five may eventually want your services, making relationship-building crucial.
Addressing Objections
Objects like "You're not my agent" become irrelevant when you're not initially aiming to be their agent. Focus on understanding their needs and helping them achieve their selling goals.
Value Before the Tour
Provide value before the first tour by conducting a market analysis and sharing insights they might not quickly obtain. Offer information on absorption rates, average days on the market, and economic trends.
Pre-Tour Relationship Building
Start building relationships before meeting face-to-face by sharing valuable information and insights. Lay the groundwork for a positive interaction during the actual meeting.
Handling Objections and Offering Information
Be ready to handle objections by providing valuable information on market trends, interest rates, and upcoming federal treasury announcements. Show that you're there to help, not just to sell a service.
Creating a Simple Framework
To make this strategy work consistently, schedule multiple FSBO tours regularly. One appointment is a good start, but the goal is to build a steady flow throughout the week. This lets you control your schedule and develop a sustainable real estate business.
In conclusion, preparing for FSBO tours is about building relationships, not just chasing listings. You can succeed as an FSBO real estate agent by understanding the goal, addressing objections, and offering value.
Remember that it's not just about transactions; it's about creating lasting connections in the real estate world.
Do you doubt yourself?
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Imagine that you are successful as an agent in six months, have figured out how to do the business and have monthly closings, and are reaching your potential, which means you will have the courage to stick to selling and make more money.
Others will admire and value you.
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