How to Get FSBOs and Expireds to Call You!
Using Current Technology to Overcome an Age-Old Obstacle
By Gay Jones, ProspectsPLUS! Regional Director

Blending old-school sales skills with new-age technology is key to staying ahead of the competitive curve in today's volatile market. One way to do that is through conference calls - a cost-effective approach to developing mutually-beneficial relationships with two often-adversarial groups: FSBOs and expireds.

The 2006 National Association of REALTORS® Profile of Home Buyers and Sellers reveals that thetypical FSBO home sold for $187,200 compared to $247,000 for agent-assisted home sales. The report also reveals that the biggest challenges FSBOs face include getting the right price, preparing the home for sale, and understanding and completing the paperwork.

History tells us that the majority of FSBOs eventually list their home with a real estate professional. In addition, it goes without saying that expireds were - and in most cases still are - motivated sellers who need new direction. That being the case, it makes good marketing sense to reach out to these prospects in a non-invasive, "risk-free" environment that allows you to establish relationships and become the "go-to" agent in your market area when these sellers are ready to list.

Ready to make the call? Here's how:

Step 1: Contact your local telephone company, look under "conference call" in the yellow pages, or do an internet search to learn how to set up a conference call. Many companies are competing for your business, so shop around to find the most convenient, user-friendly, affordable solution. You will receive a special phone number, easy-to-follow instructions and possibly a list of participants for follow up after the call.

Step 2: Calendar your calls. Consider two to four calls per month, alternating between FSBOs and expireds. Schedule the calls on weekday evenings, when people are most likely to be available.

Step 3: Advertise your FREE service! Print flyers and postcards that can be mailed, e-mailed and posted to spread the word. The pieces should be friendly and informative, inviting people to call in and talk with other homeowners who have had similar experiences and to get professional real estate advice. If you really want to get the phones ringing, invite industry professionals such as mortgage loan officers, CPAs, home staging experts and real estate attorneys to join the call. They may even help you pay for it!

Post your flyers in grocery stores, laundromats, home improvement stores, banks, doctor's offices and shopping centers. Then develop a mailing list for each call. You can search the internet for FSBOs by going to www.google.com and typing "for sale by owner" and the name of your city. You will find many FSBO websites advertising homes for sale, often with contact information and e-mail addresses! There also are companies that systematically compile this information against the National Do Not Call Registry. One such service is www.landvoice.com.

Another idea is to get a weekly compilation of expired listings from your local MLS. Gather information such as time on market, pricing and other data that may have contributed to the listing going off market.

Step 4: Determine your format. Prepare a list of subjects that you can talk about and questions the callers can ask. Your job during the call is to carry the conversation. Here are some popular topics:

• Selecting a price that attracts buyers
• Focusing on improvements that matter most
• Preparing your home for a good showing
• Holding a great open house
• Distinguishing the buyers from the lookers
• Offering financing alternatives
• Responding to an offer
• Closing the sale
• Understanding a price or equity analysis
• Obtaining a FREE FSBO First Aid Kit

Step 5: Wrap it up! Keep the calls to about 30 minutes, and invite participants to report their results on the next call. This is a great way to build confidence and trust. Mention the guest speakers or topics that will be featured on upcoming calls, as well, and give out your e-mail address for anyone who wants to be added to your monthly conference call reminder e-mails.

Be sure to thank participants for calling in, and let them know that you are available for private consultation if they have additional questions or concerns they'd like to address with you individually.

Whether conference calls will work for you as a marketing strategy depends largely on your ability and willingness to give before you get. To be sure, both FSBOs and expireds will appreciate that your service is free, anonymous, comfortable and unobtrusive. Although there often are a few people who remain silent during the calls, comfort and participation levels soon rise. Just wait until the first time an FSBO shares a horror story of an open house gone bad!

While some FSBOs will sell their home on their own, and some expireds do decide not to re-list, most will realize that the benefits of working with a professional are too many to pass up! If you have done your job well, then they will consider you first when it comes time to list or purchase a home.

Gay Jones, National Real Estate Speaker and Regional Director for ProspectsPLUS! has educated, entertained and motivated thousands of audiences. She has helped associates across the United States and Canada realize their full potential utilizing the tools and techniques she provides in her unique workshops and seminars. To invite Gay to teach your associates how to play at the next level, or sharpen your company's competitive edge, contact her today at 1.800.287.5710.

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