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REALTOR® Emeritus | SALES MEETING TOOL KIT: CONVERTING FSBOs | ||
|  Converting FSBOs: Introduction Component 1: Facilitator Talking Points Component 2: Agenda Component 3: Handout 1, Eight Reasons FSBOs Need You Component 4: Handout 2, A FSBO Prospecting Plan Component 5: Activity 1, Responding to FSBO Objections Component 6: Activity 1, Responding to FSBO Objections Answer Sheet Component 7: Handout 3, Ten Free Things FSBOs Want Component 8: Activity 2, Role Play-- FSBOs Face-to-Face Component 9: Activity 2, Role Play-- FSBOs Face-to-Face Discussion Directors Component 10: Handout 4, Getting Fees from FSBOs Component 11: Other Resources | Component 1: Facilitator Talking Points These notes will guide you and your salespeople in understanding how to develop a prospecting plan for FSBOs and to improve their techniques for convincing FSBOs to list. Pre-meeting preparation:
Print the following: 1. These facilitator talking points—Component 1 2. The Converting FSBOs Agenda—Component 2 3. Handout 1: Eight Reasons FSBOs Need You—Component 3 4. Handout 2: A FSBO Prospecting Plan—Component 4 5. Activity 1: Responding to FSBO Objections—Component 5 6. Activity 1: Responding to FSBO Objections Answer Sheet—Component 6 7. Handout 3: Ten Free Things FSBOs Want—Component 7 8. Activity 2: Role Play—FSBOs Face-to-Face—Component 8 9. Activity 2: Role Play—FSBOs Face-to-Face—Discussion Directors—Component 9 10. Handout 4: Getting Fees from FSBOs—Component 10 Welcome( 1 min.) True stories (2 min.) Share your most unexpected FSBO conversion. Ask participants to share their biggest success in converting a FSBO to a listing. To segue into the training, remind participants that according to the 2000 National Association of REALTORS Profile of Home Buyers and Sellers, 68 percent of FSBOs would consider using a real estate salesperson the next time they sell. Clearly the FSBO experience is not an easy one. Background and goals (2 min.) Showing your salespeople how to demonstrate the complexity of selling a home and the value a real estate salesperson to FSBOs will help them obtain more listings. But it’s essential to understand the objections that typically prompt FSBOs to try and go it alone. In this meeting, we will:
Handout 1: Eight Reasons FSBOs Need You (Component 3) (5 min.) Ask one participant to read each of the reasons a FSBO should list with a real estate professional. Ask participants to suggest other reasons that they have found effective in convincing FSBOs in the past. Handout 2: A FSBO Prospecting Plan (Component 4) (10 min.) Go through the suggested activities in each part of the plan, then ask participants if they have other prospecting techniques that they have found effective. Have participants write these extra ideas on the blank lines at the end of every section. Also encourage participants to suggest ways that they could alter the weekly prospecting schedule to make it more productive for them. Activity 1: Responding to FSBO Objections (Component 5) (10 min.) Ask one participant to read each objection and suggest an effective counter. Encourage all participants to suggest counters they have used. Suggest that participants write down the counters they consider most effective in the blank space on the handout and then keep them for future reference. Use the Responding to FSBO Objections Answer Sheet (Component 6) to prompt the discussion or suggest options that might not occur to participants. Handout 3: Ten Free Things FSBOs Want (Component 7) (5 min.) Review the list of possible giveaways with participants, and ask them which they feel would be most effective in converting FSBOs in their market. Ask participants what other items they include in a free services package. Activity 2: Role Play—FSBOs Face-to-Face (Component 8) (15 min.) Divide up participants into pairs and give each pair one of the three scenarios to use to practice converting FSBOs. Explain to participants that the talking points are not designed as a script, but as an indication of the issues and point of view of the character. Ask participants to take two or three minutes to read their character’s talking points and think about what issues motivate the character. Then ask participants to spend five minutes in a role-play. Encourage them to improvise. When the role-plays are completed, ask all the participants who played out each scenario to share what they learned about the FSBOs’ motivation and the responses that were effective. Write each effective strategy on a chalkboard or flip chart. If necessary, use the Role Play—Discussion Directors (Component 9) to help direct the discussion toward effective responses to each scenario. Handout 4: Getting Fees from FSBOs (Component 10) (5 min.) Use this exercise only if your company permits salespeople to offer fee-for-service options. If you don’t offer this option, use only the first section of the handout to discuss free services that will help build relationships with FSBOs. If you do use the entire handout, ask participants who offer a fee-for-service option if these services help them convert FSBOs to listings or simply serve as sources of added income. Ask participants to share which of the services they offer are most in demand among FSBOs. Adjourn Running time: 55 minutes Component 2: Agenda > |