CAMP 4:4:3 Power Session 14: For Sale By Owners

Power Session 14 Slide 2 For Sale By Owners Introduction I want you to be your best. Some people dream of doing their best, while others just go out and do it. - Millionaire Real Estate Agent 15

Power Session 14 Slide 3 For Sale By Owners Introduction Objectives… 1)Review the basics of FSBOs 2)Review the strategies for FSBO success 3)Identify the steps to systematically prospect for FSBOs 4)Practice the FSBO scripts 15

Power Session 14 Slide 4 For Sale By Owners CAMP Map 16

Power Session 14 Slide 5 For Sale By Owners The Basics of FSBOs 17 Truth 1.50% of your original competition will quit after Week 1 (new competition will always show up). 2.70% of your original competition will quit after Week % of your original competition will quit after Week % of your original competition will quit after Week 4.

Power Session 14 Slide 6 For Sale By Owners The Basics of FSBOs The FSBO Mindset I’ll save money. It will be easy

Power Session 14 Slide 7 For Sale By Owners Strategies for FSBO Success 20 Truth Every time you make contact with a FSBO, your goal is to: (1) Get an appointment, (2) Get a referral, or (3) Strengthen the relationship.

Power Session 14 Slide 8 For Sale By Owners Systematic FSBO Prospecting 21 How to Prospect FSBOs 1.Input the homeowner into your contact database. 2.Make initial contact with the homeowner in person and arrange a time when you can tour his/her home. 3.Tour the home. 4.Maintain contact with the FSBO using the 8 x 8 to systematically make contact over the next 8 weeks.

Power Session 14 Slide 9 For Sale By Owners Systematic FSBO Prospecting Initial Contact with FSBOs Touring the FSBO Home

Power Session 14 Slide 10 For Sale By Owners Systematic FSBO Prospecting Maintaining Contact Tool Kit items to use with your 8 x 8: 1.Six Selling Myths Uncovered 2.Security Tips—For Sale by Owner 3.Moving Tips & Checklist 4.Real Estate Glossary 5.Litigation Checklist 6.Getting Your Home in Top Selling Condition 23

Power Session 14 Slide 11 For Sale By Owners Systematic FSBO Prospecting Script for Dropping Off Items of Value Script for “Touching Base” Alternative Script for “Touching Base” 24

Power Session 14 Slide 12 For Sale By Owners Systematic FSBO Prospecting If a FSBO Refers a Buyer If a FSBO does refer a buyer to you, make sure you thank them. In fact, you always want to treat a referral source even better than the referral! At a minimum, send the FSBO a gift with a handwritten note. 25

Power Session 14 Slide 13 For Sale By Owners Practice Role-Model Watch as your instructor demonstrates an interaction with a FSBO. Discussion Question What will you do to set yourself apart from other agents who contacted a FSBO? 26

Power Session 14 Slide 14 For Sale By Owners Practice Exercise Directions: 1.Form groups of three. 2.In each group, practice the scripts for each of the circumstances below. Group members will take turns in the roles of agent, FSBO, and observer. 3.The observer will take notes on what was done well and what could use improvement and report them back to the other members of the group. Time: 30 minutes 27

Power Session 14 Slide 15 For Sale By Owners Assignments Power Session Assignments 1.Find and contact at least five FSBOs. 2.If desired, adapt your standard 8 x 8 for FSBOs by choosing and customizing the items of value you will use. 28

Power Session 14 Slide 16 For Sale By Owners Assignments Ongoing Assignments Complete 10:5:15:5 a)Collect 10 business cards. b)Make 5 phone calls. c)Send 15 notes or letters. d)Preview 5 homes. Record your progress on the Success Grid. 2.Schedule a one-hour role-play session with your CAMP Buddy. Practice the FSBO scripts. 3.Review the job aid Support Team Worksheet in your Tool Kit. Fill in any additional team members you have identified. 28

Power Session 14 Slide 17 For Sale By Owners Assignments Something to Think About… What are some additional ways you could provide value to FSBOs? 28

Power Session 14 Slide 18 For Sale By Owners We have talked about… 1)The basics of FSBOs 2)The strategies for FSBO success 3)The steps to systematically prospect for FSBOs 4)How to prospect to FSBOs sum