In my last article, we talked about the huge earning potential in the FSBO market and how I used the psychology of selling to develop a system that allowed me tap into it. It was very profitable both in getting actual properties to list as well as a secondary revenue stream from referrals.
Always keep that in mind when servicing a client. They are not just current business but a gateway into future business. That’s why your service must be second to none. Remember that when a client is driving you over the edge. It’s not just them, it’s the other clients you can get from them. That will help stop you from throwing them off a ledge or jumping off it yourself. Now, on to my FSBO system.
So, you’re driving down a street looking cool and wondering where you can possibly find prospective clients. Should you advertise more, you wonder, as you drive by a For Sale By Owner sign? Should you spend more money on radio, you ponder, as you drive by another one? How do I connect with clients, you ask yourself, as you drive down that street?
Stop right there! How many of us drive by those signs and do nothing? How many of us zip past people who are obviously very interested in selling their homes, who are advertising that fact for the entire world to see and do nothing? How many of us drive by telephone numbers printed loud and proud on FSBO signs that will contact us with possible clients? If you count yourself among those people, then you can also count on missing some very low-hanging fruit that can make your bank account very happy.
So, the first step in my FSBO system is to be aware of your surroundings. I remember when I first started, I had a pen and pad on the passenger’s seat and whenever I saw a FSBO sign I jotted down the phone number. It only took a second and gave me a way to contact someone who wanted to sell. I couldn’t let those opportunities pass me by. Today, it’s even easier to capture contact info; you can do so by simply taking a picture of the sign with your cell phone. Yes, they’re for more than just talking on, sending emails on, sending texts on and giving you directions to where you’re going.
When I started out in real estate, I’d dedicate an entire morning once a week to driving around, looking for FSBOs and capturing their contact info. So, the next time you see one of those signs where someone is literally screaming, “Look at me, I want to sell my house and here’s how to get in touch with me”, pull over, point and shoot and go on your merry way. That’s step one. Make it a habit that will make you money.
Once you have the contact info, you must act on it and that’s where most people fall down. They’re too busy, they forget about it or they’re nervous about making a cold call. That contact info sitting in your phone is an opportunity waiting to be seized or wasted. What I do is set aside time to make those calls and I make them. It’s not as hard as your mind would lead you to believe it is. It’s too easy to talk yourself out of doing it, so don’t. Make that call! That’s step two. Make that a habit as well.
Anyone who knows me knows that I have no problem talking. In fact, a lot of them might say my problem is stopping. Still, if you’re shy or if you’re new and haven’t built up your confidence enough to push those numbers, there are things you can do to make the process a lot easier. There are psychology tricks you can employ that will make it so much easier for you to make those cold calls and walk away with their business. There are proven ways around your fear and in my next article we’ll talk about them and how you can get comfortable making those calls that will be making you money in no time.