1. Power Session 8: FSBOs and Expired Listings
Lead Generation 36:12:3
Power Session 8:
FSBOs and Expired Listings

2. Power Session 8 In this Power Session … Introduction Who They Are
A Limiting Belief
The Opportunity
Steps for Working with FSBOs
Steps for Working with Expired/Withdrawn Listings
Putting It All Together
Page 1

3. Introduction Ground Rules Arrive on time. Form groups quickly.
Power Session 8
Ground Rules
Arrive on time.
Form groups quickly.
Limit side conversations.
Turn off cell phones and pagers.
Be comfortable.
Respect time.
Respect each other.
Help each other learn.
Respect confidentiality.
Have fun!
Page 3

4. Introduction How You Will Learn Learning Methods Manual Classroom
Power Session 8
How You Will Learn
Learning Methods
Manual
Models/Systems
Exercises/Discussion
Stories
Classroom
PowerPoint slides
KWConnect videos
Classmates/Instructor
(continued)
Page 4

5. Accountability Feedback Loop
Introduction
Power Session 8
How You Will Learn
Accountability Methods
Lead Generation Action Plan
Accountability Partner/Program
1. Set Goals
2. Do Key Activities
3. Measure Results
4. Evaluate Process
5. Make Adjustments
Accountability Feedback Loop
Page 4

6. Introduction EXERCISE Where You Are Today Time: 10 minutes
Power Session 8
EXERCISE
Where You Are Today
Lead Generation Activities
My aha’s from these activities
The most difficult part of these activities
What I will do differently in the next 24 hours
Time: 10 minutes
Page 5

7. Learn how to take advantage of a tremendous opportunity!
Introduction
Power Session 8
Why You Are Here
Learn how to take advantage of a tremendous opportunity!
You are here!
Page 6-7

8. Introduction What Will Make This a Great Training Experience Page 8
Power Session 8
What Will Make This a
Great Training Experience
Page 8

9. Who They Are Most Important Reason for Selling Home as FSBO
Power Session 8
Most Important Reason for Selling Home as FSBO
Did not want to pay commission 51%
Sold to relative, friend, or neighbor 22%
Buyer contacted seller directly 12%
Did not want to deal with an agent 8%
Agent was unable to sell home 3%
Seller has real estate license 2%
Could not find suitable agent 1%
Other 2%
Source: “2006 NAR Profile of Home Buyers and Sellers”
Page 11

10. Who They Are Expired and Withdrawn Listings
Power Session 8
Expired and Withdrawn Listings
What are the main reasons houses do not sell?
Page 14

11. Who They Are Expired and Withdrawn Listings
Power Session 8
Expired and Withdrawn Listings
Main Reasons Houses Do Not Sell
Overpriced relative to the existing market
In poor condition
Not marketed well
Page 14

12. Who They Are Expired and Withdrawn Listings
Power Session 8
Expired and Withdrawn Listings
Do Not Call Lists (federal and state)
Page 15

13. A Limiting Belief Myth Truth
Power Session 8
Myth
You can only succeed with FSBOs and expired/withdrawn listings by being aggressive and direct.
Truth
You can win with FSBOs and expired/withdrawn listings by coming from contribution, establishing trust, and staying in touch.
Page 17

14. The Opportunity 6 Ways to Win with FSBOs and Expireds Get the listing.
Power Session 8
6 Ways to Win with FSBOs and Expireds
Get the listing.
Find a buyer for the house.
Help the seller buy a new home nearby.
Refer the seller to another agent (out-of-town moves).
Meet potential customers by offering to host open houses.
Help the seller write up business if the seller finds a buyer (for a negotiated commission).
Page 21

15. The Opportunity Direct Approach Dianna Kokoszka Indirect Approach
Power Session 8
Direct Approach
Dianna Kokoszka
Be straightforward and ask for the business
Indirect Approach
Jean Grubb
Let the seller self-discover the need for your services
Page 22-23

16. The Opportunity Mindset Come from Contribution
Power Session 8
Mindset
Come from Contribution
Ask, “What can I do to help you today?”
Offer your expertise.
Offer services.
Page 27

17. Steps for Working with FSBOs
Power Session 8
Prepare
Know what you are going to say.
Prepare materials to give them.
Create an 8 x 8 customized for FSBOs.
Set your goals.
Find them.
Organize your information on each listing.
Page 29

18. Steps for Working with FSBOs
Power Session 8
Prepare
Create an 8 x 8 Customized for FSBOs
Touch 1 Preview property. Leave FSBO Packet.
Touches 2–3 Send postcard or letter each week.
Touch 4 Make a telephone call.
Tourhes 5–7 Send different postcards or letters.
Touch 8 Make a telephone call.
Page 32

19. Steps for Working with FSBOs
Power Session 8
Prepare
Gene Rivers’ postcard subjects
Price 5) Showing
Condition 6) Price Reduction
Competition 7) Marketing for Just Reduced
Marketing 8) What Do I Do Now?
Page 33

20. Steps for Working with FSBOs
Power Session 8
EXERCISE
Write questions, statements, information of value, or scripts you can use for eight FSBO contacts.
Time: 10 minutes
Page 34

21. Steps for Working with FSBOs
Power Session 8
Take Action
Practice scripts and handling objections so you’ll have confidence in yourself and you’ll know what to say.
Page 36

22. Steps for Working with FSBOs
Power Session 8
Follow Up
Put leads in your database.
Implement an 8 x 8 marketing action plan.
Send a thank-you for referrals.
Follow up until they list or sell.
Page 46

23. Steps for Working with Expireds
Power Session 8
Prepare
Know what you are going to say.
Prepare materials to give them.
Create an 8 x 8 customized for expired listings.
Set your goals.
Find them.
Check the Do Not Call list.
Organize your information on each listing.
Page 47

24. Steps for Working with Expireds
Power Session 8
Prepare
Create an 8 x 8 customized for expireds
Day 1 Call and deliver an expired packet.
Day 2 Make a telephone call.
Day 3 Send a postcard or letter.
Day 4 Make a telephone call.
Day 5 Send a marketing statistic or special report.
Day 6 Make a telephone call.
Day 7 Promote your marketing plan.
Day 8 Make a telephone call.
Page 49

25. Steps for Working with Expireds
Power Session 8
Take Action
Practice scripts and handling objections so you’ll have confidence in yourself and you’ll know what to say.
Page 50

26. Putting It All Together
Power Session 8
EXERCISE
Call FSBO and Expired Listings
Instructor demonstrates calls.
Agents make calls.
Time: 30 minutes
Page 57

27. Putting It All Together
Power Session 8
Power Session Aha’s
What did you learn and what are you going to implement or do differently?
Page 57

28. Putting It All Together
Power Session 8
Your Lead Generation Action Plan
Think about the role prospecting to FSBOs and expireds will play in your prospecting activities.
Enter your current and future goals on the worksheet in your manual.
Page 58-59

29. Putting It All Together
Power Session 8
The 3-Hour Habit
Time block 3 hours every workday before noon.
No skipping. If you must erase, then you must replace.
Allow no interruptions (unless they truly are emergencies).
Page 60-62

30. Thank You for Being Here!
Don’t forget your evaluations!