LESSON 10 - USING THE FSBO HOTLINE

THINGS TO WRITE DOWN THE MOMENT YOU HEAR IT OR LEARN IT

At some point you will have a few dozen sellers you are pursuing. Some will be stage 1 (denial), some in stage 2 (becoming aware they may have a problem), stage 3 (set a date to list with an agent), or stage 4 (they are ready to list today.)

Take diligent notes so that if you need to call the BY OWNER AMERICA daily hotline you will be able to share answers to these questions. Our coaches will want to know the answers to most of these questions.

COACHES QUESTIONS

Why are they selling? _________________________________________

Where are they moving to? _____________________________________

Have they bought a home? _____________________________________

Any chance we can help them buy?

yes
no
don’t know

Are they building?

no
yes, close date: __________

How long have they been FSBO? _____________________________

Were they an expired or failed listing in the last 5 years in the MLS?

no
if yes, when? __________

Is the seller single?

no
yes

Is the seller married?

no
yes

Will they give possession in about 40 days?

no

yes

How did they come up with the price?

agents appraisal
on their own

Why are they FSBO?

thought they would try it awhile
sold fsbo before, fee:

If they don’t sell FSBO – have they a target date to consider interviewing agents? _____

What is the list price? ___________________

Do you think it is priced right?

yes
no
no idea

Did you get a 2nd appointment?

Did they ask what our fee is?

yes
no

Did you say our fee?

yes
no

What did you say it may be? ____________

Do they have any buyer with interest?

yes
no

Have they had any offers?

yes
no

Are they working on an offer?

yes
no
no idea

Are they not ready?

thinking about it
close to listing
ready now

Are you a Cubs fan?

yes
no
no way

Does the house back to a busy street or highway? __________________________

Does the property need a lot of work?

no it is ready to go
needs some work
needs much work

If the 2nd appointment is set, what is the date and time? ________________________

If there are two sellers, will both be present for your interview?

yes
no
don’t know

What is the list price?____________

What do you think it should be? ____________

Or don’t know?____________

Fsbo SPOKE WITH _______________________________________DATE______________

VIGNETTE 1 your introduction about your buyer

Hello, I’m calling about the house that’s for sale …I think I saw it on ZILLOW………

My name is Bob and I’m in real estate…..(DON’T say your company name / wait til they ask for it)

I am calling because ……..My purchaser is presently out of state and asked if I could check on a couple of details…

They may state: Are you calling to list the house? We aren’t working with agents… We already have an agent…

VIGNETTE 2 HOUSING QUESTIONS

Most of the questions I have are about the systems. Is the ballpark on the air conditioner and furnace would you say they are between 5 and 10 years old? And same with the roof do you have a ballpark and what the age is? __________

Age of ROOF __________ Age of furnace __________ Age of air __________

I can see some of the photos online, is that a current picture of the kitchen and would you have a ballpark age regarding the appliances? __________

VIGNETTE 3 ask about situation / time frame

Hi, could I ask you this regarding a timetable? We’re trying to put something under contract soon with somewhat of a typical close time. Do you have an ideal deadline you are trying to achieve based on buying another property or if you are relocating?

(Remember the objective. It is to determine if this appointment is a go or no go. It is not to get the listing.)

VIGNETTE : 4 THE ASKING PRICE

Oh and I wanted to ask you a question about the asking price. I’m not saying the price is too high as I have not seen the property. However, was it two or three agents that helped establish the asking price or was it Zillow or realtor.com? Or sometimes it was a recent refinance appraisal.

VIGNETTE : 5 RECAP YOUR BUYER

Bob if I could ask you this… As I had mentioned, my buyer is out of state at this point. However, he has asked me to find out the age of some of the systems and also your time frame. If it’s a match for them we are looking at a typical close date. Right now there are four active Properties for Sale near your property and three additional under contract with most properties days on market about 21. If you feel it’s possible the buyer has seen the photographs online but asked me to view it in person would that be OK later this afternoon or possibly tomorrow morning between 10:00 and 11:00 am?

VIGNETTE 6 CONFIRMATION EMAIL

Oh one last thing Bob, I’d like to email you my contact information so you know who I am and just a brief recap of what we talked about. Is there a best email I can send you that information?

SUMMARY

2 STATUS

Married single male female divorced divorcing

3 THEY ASKED ME OR SAID

Are you calling to list the house?

We aren’t working with agents.

We already have an agent.

4 OWNERSHIP

This is their rental – thus what is their current address? __________________________

This is their primary home This is inherited This is vacant

5 DESTINATION

Built a home Bought another home Will build soon

Going to rent Going to relocate

If applicable – what was the seller’s ideal move date? ___________________________

6 OTHER PROPERTY

Were you able to determine if they own other properties? NO YES

If yes, explain _______________________________________________________________

7 MOTIVATION

Said they were in no hurry

Said they are not going to give it away

Said they don’t have to move

Said they may list it with an agent friend agent fsbo.com

Very kind did not talk much a bit rude very helpful

8 BROKER FEE

Asked you what your fee is. Mentioned paying a BA a fee _____%

Said would not pay any commission

Did the Zillow ad say they WILL or WILL NOT (or no mention) pay an agent? If yes, at what rate? _____

9 ASKING PRICE

May I ask how the price was determined? Was it a refinance appraisal? Or a couple of agents’ opinions? Or just some from neighborhood sales?

Their understanding of comps: by an appraiser 2-3 agents? pluck from air

Did they say “We may have a little wiggle room in our price”

10 APPOINTMENT

What is the time and date of your appointment?

I did not ask because: a) no rapport b) I did not get the chance c)___________

I did ask and they said: YES No, unless you bring your buyer No at this time

It is set for: the same day next day two days out 3 4 5 6 7 more

There email address is _____________________________ or I didn’t ask or they would not share

11 SUMMARY

Approximate length of time on the call / minutes 1 2 3 5 7 10 15

This is a definite GO! Possible go that I need to get

Possible go that I may need to cancel A no go!

PRESCREEN or POP BY? What is the best way to pursue these leads?

The key to this plan is knowing what to do and what not to do.