Earlier this week I contacted Broker Bryant about an expired letter he had metioned and asked him if he minded sending it to me so that I could use it to help me create a letter of my own. Being the wonderfully generous person that he is, he said no problem.
Well after creating my expired letter, I decided to use it to help create a FSBO letter as well. BB was extremely helpful as we emailed it back and forth until we came up with an awesome finished product.
In some of the responses to his blog, people were asking about the "Help Kit" so I decided to share some of the things that I use and see if we could come up with some other ideas for items to put in.
The first thing (after the initial letter of course) that I'm going to send will be a checklist along with maybe one or two pieces from the kit. The checklist is nothing more than what it says it is, a list of all the items that are in the kit.
Here are a some of the items I use in my kit:
- Writing Effective Ads - A sheet with tips and advise on how to make the phone ring and help generate more inquiries.
- Answering Inquiries - How to covert some of those phone calls into showings.
- Guest Registry - I advise them how important it is to know who was in thier house not only so they can follow up, but for security reasons at the very least.
- Preparing Your Home for Showings and Sale - Tips on how to present the home in the best light; and information to have ready to answer prospective buyers' questions.
- Caveats - A list of things to help avoid legal entanglements.
- Advertising Budget Planner - Rate sheet for planning local advertising and how to calculate total ad costs based on market time and weekly rates.
- Forms - I put in a blank Sellers' Disclosure as well as a Lead Base Paint Disclosure and pamplet(if needed). I also will put in a SAMPLE Purchase Agreement as well as a SAMPLE Listing Agreement.
I've had pretty good response from giving out the kit in the past, but I think now that it will be coupled with the initial intro letter, it will be even more powerful. Another thing I'm going to try is, in the past I would give them the whole kit and not have anything to give them the following week. I'm going to change and only give them a little, but let them know there is more. I want to try and create anticipation for it's arrival.
The most important thing to remember when dealing with FSBOs is that they do NOT want to be sold. They want to feel like when they decide to list, it's because they WANTED to, not because you talked them into it. WHATEVER, as long as they list. And even if they don't list, they may still refer you for being so helpful while earning nothing. Or they may have not enjoyed the experience and will use you the next time.
It's funny, no matter what we do or how we do it, it all comes back to being about creating strong relationships and building off of them. I think this kit along with the intro letter are a great way to start.
I'd love to hear if anyone else has any other ideas for things to put in the kit.
Very good Brett, I really like the idea of mailing the "kit" over a period of time. You have a really good plan here and I can't wait for you to come back and tell us you have just taken your fist listing from these efforts. You are right about building relationships, that's what this business is all about.
I have a listing on Monday from the daughter of a man I met 10 years ago!!! I was never able to help him with his needs but he has kept my card all these years and called me earlier this week to help his daughter sell her house. Talk about your long term relationship.
Great post post Brett. I thought you and I made a pretty good team. Let's do it again.
BRETT I JUST WENT BACK AND ADDED A LINK TO THIS POST IN MY POST SINCE THEY ARE RELATED.
That is a great story about the referral. You really never know.
Thanks for the link. I can't wait to share a success story as well. We'll definitely team up again in the future.
Hey Brett, great post and thanks for sharing. I read BB's blog earlier and asked him for a copy of the kit. so you rock man.. I'm going to put this kit out there.
"It's funny, no matter what we do or how we do it, it all comes back to being about creating strong relationships and building off of them. I think this kit along with the intro letter are a great way to start."
It's also funny that when I read that quote a second time it also applied between you and people of AR due to this post.. it is funny.
Great information ,Brett. Thank you for sharing this. I have started doing some of this but clearly there is more I can and should do. This will be a big help.
Thanks also to Bryant for his thoughts on his expired letter.
Jeff
Doug - Keep checking back. Don't be afraid to throw some ideas out there. There is really no such thing as a perfect product. The more ideas we get, the better off everyone will be.
Rick - Thanks for the tip! I just quickly browsed through, but it looks like they have a lot of info.
Nick - No problem man. Just like the quote says "no matter what we do or how we do it".
Monika - I like the DVD idea. Do you lend it out so you have a reason to contact them again? Did you make the DVD? Do you have any other items you use as well? Look forward to hearing back from you.
Jeff - No problem, that's what this place is for.
John, BB said with FSBOs it has to be a drip campaign and I have to agree. It's almost like you have to outlast your competition.
Bryant - What about that! I thought for sure that yours would be featured as well though :(
Brett,
Thanks for the awesome ideas. AR is the best !
You guys did a great job - thanks for sharing,
Now Have a Blessed Day,
John Occh, Hemet CA REALTOR
www.JohnOcchi.Com
Brett... I love the fact that you guys are dealing with the "don't want to be sold" mentality. VERY clever approach.
You really did a great job.
Me
Brett,
Thanks for the post. Great list of items for the FSBO kit.
Chris - Let me know if you want some feedback or if you need help with your kit.
Paul - That's great! Let us know how it works for you.
John H. - AR is the best!
John O. - Have a blessed day yourself.
Rick & Ines - I can't wait to see the results from the kit.
Jennifer - That's what we're hoping for.
Craig - I think that is how I would want to be approached if it were me.
William - Thanks, really easy to make as well. Let me know if you would like some samples.
Caron - That is why it needs to be good! If you send them something they know they can use, then they will be waiting for the next arrival. Will all of them read it? No. But I think a lot of them will.
Denise - We actually physically mail them.
Brett...
This is an excellent way to move forward with FSBO's. In our market FSBO's are a listing waiting to happen.
Always remember the hard sell will not work on them. It is also important to find out WHY they did not want to use a Real Estate Company to sell their house. This does not have to happen at first contact. But, at some point the answer to "WHY" can be addressed by YOU. Don't forget to find that out. It's a good question and you will have the opportunity to gain more insight as to WHY :) There is forward motion buried in that question.
I wish you the best of luck with this. Keep us "posted" :)
Sincerely,
Billie Tutas aka TLW...ROAR! :)
Brett,
That's a very nice job. I think it is great how BB and yourself worked together. I think it goes to show there are some really great people in the AR community.
TLW - I'll be sure to find out and I can't wait to give some success stories! BTW, you are married to a wonderful man (which I know you already knew, just wanted to say it again LOL).
Ray - It is a great community. BB is one of the best. I know I would like to follow in his footsteps. I hope one day people will confide in me for my opinion. My door is always open if anyone needs help.
Hi Brett - I posted this on BB's Blog but I thought I'd repeat it here. I read on someone else's FSBO Blog a while ago - can't remember who so I can't give credit but they also said that they offer to pre-approve potential buyers. They explained that this helps create a relationship with the homeowner and ultimately get the listing. Secondly, they may be able to get new clients in the buyers - something like if that FSBO doesn't work out I'll show you some other homes in the area kind of thing. I'm not a Realtor but that sounded like a good idea.
I am a home stager and I have had several FSBO clients. When I help FSBO I do the pictures for them then put them in a vFlyer, tell them how to get their house into MLS via one of the Flat fee MSL listing services. Give them directions on how to post to Craig's list and how to list their home on Zillow. I also seriously encourage them to list with an agent. You might want to contact stagers in your area and see if they would like to partner with you.
To date none of my FSBO's have sold w/o a Realtor.
You guys are brilliant! One thing that we do with HUGE success is this.
We have a website called, www.ByOwnerNorthPort.com We drop off fliers at the FSBO's explaining that they can post their home for free on our FSBO website. We advertise this website in local magazines, newspapers and on various websites. We tell them about the website and the free advertising we do in the flier that we drop off. They go and post their home on our website and we have the site set up so it automatically follows up with them for the next couple of months.
Many times we get and email from someone says that we have been corresponding with them for the past few weeks and it was actually the automatic emails that go out.
As I said before this has been a tremendous success for us.
Hi Brett,
This is an article that all of us mortgage types should read as well. Too many L.O.'s market to FSBO's and try to confirm their decision to go it alone, never having the resources to provide them with the services of a good Realtor's assistance should the need arise (as it most often does). We may provide them with a "canned" kit, but to give them that along with a Realtor who will be willing to assist as needed is a true service.
The L.O. often comes away with a list of potential buyers to work and completely misses the idea that perhaps the best service we can offer to covert those potential buyers into active ones is a strong recommendation of one of our Realtor associates in a Buyer's agency.
If we as mortgage brokers bring our Realtor associates into the mix we will have benefitted both the seller and the buyer, and we will have strengthened yet again our Realtor relationships.
Many Thanks,
Terry
I love that you two teamed up and really put together a fantastic kit. Everyone contributing and agreeing it is a winner!
It is free to register to FSBO/ By Owner sites to receive emails alerting you of local FSBO activity- making it super easy. I always mix up my route home to pass different neighborhoods- with that radar vision tracking down new red and white FSBo signs.
My choice is to knock on the door and meet the seller face to face. (it also allows for a preview of the potential listing you get in a few weeks if you are patient).
I have a box in the car with all of my materials ready to put into action- I will now tweak the kit as your ideas are great! Thanks for making us better guys!
A lot of great advice.
Another thing I do is created a special domain just for FSBO's. It actually just goes to my main website, for FSBO's to fill out information for me to contact them.
I created some folders with this website listed, I drop off these folders with information at the front door of the FSBO's..
www.fsbohelpkit.info
Thanks for sharing some of your hard work and brainstorming. I am going to add a few things to my own FSBO packet based upon what you shared.
Steve
I've always had great success with Open House. I hold homes open to sell the home, not to pick up buyer clients, although it has happened.
IMO, the #1 reason FSBO sellers don't sell their home on open house is because they never ask the question:
"I can see that you love this house. I'll be happy to prepare an offer for you to buy. What price do you have in mind?"
Or, something like it. Agents know how to ask. Seller's don't.
Lenn
Thank you for all the kind words and feedback everyone. Sorry for the delayed response, I have a friend of mine who owns his own store and is doing a trade show this week and I'm helping him.
Kathy - Tell Dave to contact me, I'd love to help any way I can.
Maureen - I think that falls into the category of "I have connections", but I like the fact of taking it a step further. That would be something to do the first time I actually talk to them.
Roxanne & Shannon - I love the automated system. I may try to contact later about how you set it up or if you had someone else set it up. Any way to create more time is a good thing.
Terry - I definitely think LOs should contact them as well. Could be potential for multiple leads.
Michele - That is a great idea! I never even thought about registering. Thanks for the tip!
Craig - I've actually seen your site before and really love it.
Steven - That's what this place is for!
Michael - ME TOO!
Lenn - I think those would be some of the questions used in the "Answering Inquiries" sheet. Even if they know how to ask them, some of them still won't and those that do, may still need help after that.
Lloyd - Yes they do.
Joe - Thanks.
Daniel - That's great. This is (I'm hoping) a great way to pick up business. You already know they want to sell their house. You just have to be first in line when they decide to use a Realtor.
Robert - No problem.
Jessica - Feel free to contact me if you have any questions.
The consultative approach is definitely the route to go with FSBO's. I've recently asked a junior agent to join me in launching a campaign very similiar to what has been discussed so far. It's in the early stages so I can't say just how successful it will be, but one FSBO did call us before we had a chance to call and follow up on the package. The cornerstone for me is offering a free listing on my site which currently is ranked # 1 on Google for many of the top search terms in real estate.
I thought I'd share my approach which I think is novel. I take a plain wine gift bag, I create a post card which says "let me introduce you to my sweet marketing plan" and hot glue it to the front with a candy of some sort. I put the info in the bag similiar to what has been talked about above along with a little bag of candy. I then hang these packages on the doors of the FSBO people. I follow up the drop off with a phone call. I have to admit the basic approach is not my invention, but a modification of something that I had come across on a forum.
I just joined AR, so I don't have a profile written, but wanted to pass along my approach to FSBOs.
AR is an amazing resource, I'm glad I finally checked it out.
Welcome aboard Larry. You are correct about AR being a wonderful resourse and community. The people here are what make it great!
Keep us posted on your FSBO efforts. It would be a good blog topic.
Brett,
Thanks for sharing your FSBO kit, it gives me a whole new approach to them. I do have a question on the samples you give them. Do you stamp SAMPLE on them and I wonder if the rules are different by state on what we are allowed to give them? I am in the process of checking with the Texas Real Estate Commission to make sure I don't break a rule.
Pattie - Yes, you can stamp SAMPLE on them (at least here you can). I don't know why it would be any different anywhere else, but you can check with your local board and they should be able to tell you. Also, I don't give them actual contracts, but copies of the contracts. My Broker wouldn't be too happy if I was just handing out blank contracts all over the place that they pay for.
Neither would my Broker, I just wanted to make sure I didn't break any rules. Here is what TREC said.
TREC forms can be used by anyone. They are public documents. If you are using forms you obtained from an association (Lower left hand corner of the form will have TAR Form # in it) you will have to contact them to find out their policy on use by non-members.
Buyers and Sellers of property have no obligation to use TREC forms (22 TAC §537.11(a)) It is unnecessary to mark TREC forms with the word sample.
Anyway, I just wanted to thank you for all you do on AR.
I have also been doing this for quite some time but I have always dropped the kit off on their porch and used it as an excuse to call them later that day. your letter is great! Kinda of a care free "it's here if you need it" but definitely makes the seller long for more. Here's what I include in my KIT:
Helpful Hints To Sell Your Home Faster - article
How To Sell Your Own Home - article
Guest Register
Are You Prepared For Settlement Questions? - article
A pen and magnet with my contact info on it.
A resume with introduction letter
A coupon for a free market analysis
Brett Thank You:
A wonderful post. I tried to stay out of your way on this one. As you can imagine I have a lot of opinions on the For Sale By Owner Market. Thanks again and we all look forward to another great post. Thanks Curt
I love your insight and the idea that relationship building is the key. Your kit idea works because it does just that, build long term relationships no matter what the FSBO decides to do.
Ken
Lisa - I like the article ideas.
Curt - Thanks.
Sam - No problem. Thanks for taking the time to read and comment.
Ken - Relationship building is the key and the base to our whole business.
I have known for a while that FSBO's were a great place to attract sellers, but this is a way to make being their agent more attractive to them!
Thank you for sharing this great idea!
Hi Brett,
I would be interested in your fsbo kit. I currently building my business, and I can use all the help I can get. Thanks.
Hi Brett,
Great idea! Here's a twist: what if after you initially meet the owner in person, get their e-mail address and get their permission to send them additional "Help" materials. Then you could send them something of value every week, until hopefully at some point, they call you list their property. You may not always be able to stop by, so this way they're receiving information from you.
I would also recommend some of your service team members, i.e. home inspector, exterminator, etc, for pre-sale inspections and while they are at the seller's home, they can also promote you through a soft-sell about your service and professionalism.
I hope this helps you and others.
I was wondering if you just mail the FSBO and wait forthem to call you or if you follow up with phone calls after each peice of information or how often? Your information is very helpful and I have been using it.
Thanks.
Georgia Hudleston
I've been considering using a kit, but wasn't sure what all I should include. Thanks for the article....
Great ideas and good post. I've recently put together a FSBO "Lifeline" kit. I was giving the whole kit as a "thank you" for letting me preview their home. I, too, decided to take the kit apart. One of the pieces that I have in my kit is something I wrote: All preapprovals are not the same--with the recent meltdown in the subprime market, know who you are dealing with. Another piece that I use came from someone else, but it's 88 kinds of turbulance that can go wrong after the contract is signed. I added a couple more - like lender may go belly up. FSBO's seemed to appreciate my approach. My only problem is that they've been selling. Maybe I need to target different FSBO's. Thanks for your help.
Lea Deo, Shawnee, KS realtor
www.LeaDeo.com
Brett,
Thanks for this wonderful blog... You mentioned that before you started the FSBO kit you got a pretty good response from just the letter being sent out.
What information do you have in that letter? I've been trying a few different letter's that also have a follow up letter mailed to them but have yet to get any calls. Just wanted to see what my letter is lacking.
Nick - Actually I said I got some response from the kit before adding the letter to it. Just remember that FSBO's do not want to be sold.
They are like a plant. You have to plant a seed and hope that it grows into a plant. The more seeds you plant, the better chance you'll have at converting some of those.
I prefer FSBO sites, but not real estate agency. Agents take commissions and it is cheaper that money to sell your property at FSBO site. I saw many sites, but I think Fizber was the best. There are many services that can help sellers and buyers like real estate forms at http://www.fizber.com/real-estate-forms.htm for sellers or http://schools.fizber.com/ for buyers.
I think you've put together a great FSBO kit. There's a lot of good information and help being offered.