Real Estate Mastery: 5 Steps to Conquer FSBOs and Expired Listings

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Hey there, future real estate legends! Have you ever found yourself staring at your phone, about to dial the number of a for sale by owner (FSBO) listing, and thought, “What am I even going to say?” Yeah, me too. It’s terrifying, right? But don’t worry. I’ve been there. In this article, I’ll share five steps that will make you the smoothest talker in the biz, especially with those tricky FSBOs and expired listings.

Step 1: Connect – Not Just Greet

First things first, connection is key. You don’t want to just greet them; you want to connect with them. This is crucial because most FSBOs and expired sellers are not fans of us real estate agents. They’ve had bad experiences, and they’re scared of getting ripped off. So, when you reach out, skip the pitch and talk to them like real people. Think of it as a coffee date where you’re genuinely interested in what they have to say.

Be a Real Human, Not a Sales Robot

Here’s the deal: Most people can spot a sales pitch from a mile away, and it’s about as welcome as a skunk at a garden party. They usually say something like, “I sold my house before without a realtor. What makes you so special?”

But here’s the good news: Once you establish rapport and earn their trust, you can ask anything. Well, almost anything. Asking them to lend you $20 probably won’t go over well.

Ask Good Questions

It’s not about showing off your stellar resume; it’s about understanding their needs and, ideally, their pain points. This is where good questions come in. If they need money to make their payments, that’s a pain point. If they have to move by a certain date, then time is an issue.

Example

Let’s say you’re calling an FSBO seller, and they start with, “I don’t want to pay commission. I’ve sold houses before!” Instead of defending the existence of real estate agents, try this: “I get it! You’ve done it all before. But let me ask you this: What do you think would have made those sales more successful?” You’re immediately turning the focus onto them, and that’s what they really care about.

Step 2: Position Yourself – Be the Answer to Their Problems

Once you’ve connected, it’s time to position yourself as the solution. You need to answer this question in their head: “Why should I hire you instead of that other guy?” Position yourself as their knight in shining armor. It’s a delicate balance, but if you get it right, they’ll be signing that exclusive right to represent agreement faster than you can say “E. Howard Huntington.”

It’s Not About the Plan, It’s About the Result

Now, a word of caution. If you think that FSBO and expired listing sellers care about your marketing plan, you’re in for a rude awakening. They couldn’t care less about your glossy brochures, Facebook posts, or fancy snazzy videos. What they care about is a good, fast sale at a great price. Period.

Example

“My marketing plan includes social media advertising, open houses, and listing on the MLS.”

“That sounds great, but when can you sell my house?”

Instead of competing based on your marketing plan, compete based on your USP—your unique selling proposition. What makes you, well, you? What do you do that no one else does?

Step 3: Inspire Them to Hire You – Get Them Fired Up!

This is the fun part! Once you’ve connected and positioned yourself as the solution, it’s time to inspire them to take action. You need to make them feel like you’re the real deal. How do you do this? Here are three ways:

Send a Follow-Up Video

A follow-up video is the best way to continue the conversation after your first contact. In this video, your energy level should be off the charts. Your facial expressions should be exaggerated and your smile should blind people. You are the greatest thing since sliced bread, and they should be lining up to work with you.

Be Prepared for Objections

Be prepared to address common objections, like “What can you do that my friend down the street can’t?” 1.) Come with a referral for the client. If you have a referral, you have something that makes you unique. 2.) You have a compelling presentation and a track record of success. Use these to your advantage to inspire confidence in your abilities. Your testimonials are your secret weapon!

Ask the Right Questions

Use open-ended questions to guide them toward a resolution. “What are your biggest concerns about working with an agent?” or “What needs to happen for you to feel comfortable moving forward?”—you get the idea. These questions get them talking, and you listening. Once you’ve listened to them, you’re their hero.

Step 4: Deliver Results – The Proof is in the Pudding

Here’s where the rubber meets the road. It’s time to deliver results. If you can’t deliver, you might as well pack up and head home. But before you start sweating bullets, take a deep breath and follow these tips.

Don’t Overprice Their Home

The biggest mistake you can make is to overprice their home. You might think you’re being nice by telling them what they want to hear, but you’re setting yourself up for failure. A home that’s priced too high sits on the market, and the longer it sits, the harder it is to sell. Trust me, you don’t want to be that agent.

Communicate

Be honest. Be consistent. Be transparent. Keep them in the loop and provide regular updates. Nobody likes being left in the dark. That’s just common courtesy.

Be Bold

Don’t be afraid to offer some tough love. “Mr. and Mrs. Smith, with all due respect, your home is not worth as much as you think. Let’s price it competitively and get it sold!”

Example

One time, I had a seller who wanted to list their home for $50,000 more than market value. I had to break the news to them that their price was way off. It was like telling a kid there’s no Santa. But in the end, they agreed to price it fairly, and we sold the home within two weeks. They were thrilled, and I got to keep my job!

Step 5: Leverage – Use Their Love to Fuel Your Fire

Now that you’ve delivered results, it’s time to leverage that success to get even more business. Referrals are the lifeblood of any successful real estate agent, and there’s no better way to get them than through satisfied clients.

Get Video Testimonials

Video testimonials are gold. When your clients are happy, ask them for a short video singing your praises. Share that on your social media, website, and marketing materials. Video testimonials are trustworthy and have higher conversion rates than text-only ones. Plus, who doesn’t love seeing people gush about you?

Example

One of my FSBO clients shot a quick video right after closing, saying, “Laura got us $20,000 more than we thought we’d get, and we sold in two weeks!” That’s the kind of referral I can live off for months!

Create Case Studies

Showcase your expertise with a portfolio of case studies that highlight your work with FSBOs and expired listings. Remember, your future clients want to see that you know what you’re doing!

There you have it—five steps to master FSBOs and expired listings like a pro. Follow these, and you’ll be closing deals faster than you can say, “Open house!” Now go out there and crush it!

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Picture of post by Laura Perez

post by Laura Perez

I’m Laura Perez, your friendly real estate expert with years of hands-on experience and plenty of real-life stories. I’m here to make the world of real estate easy and relatable, mixing practical tips with a dash of humor.

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