First you’ll have to show them your value
Homeowners who offer their homes “For Sale by Owner” do so for one of two reasons:
- They’ve had a bad experience with a real estate agent
- They think selling a home will be easy and they want to save the commission
Your task as an agent who wants to list the home must then be twofold:
- You have to show them that YOU are the agent who cares about their outcome and will work diligently on their behalf.
- You have to show them just how much real work goes into selling a home.
And that’s just what our FSBO letters are designed to do.
The For Sale by Owner Real Estate Prospecting Letter set begins with a special report called “Getting Started,” which is an overview of what that homeowner must do to get ready, to present the home, and to negotiate successfully. The report comes in 3 versions – one for people you’ve spoken with on the phone, one to send to homes where you noticed a sign, and one for people you’ve stopped by to meet.
From there it goes into 10 drip marketing letters, each providing more in-depth information on the tasks outlined in the special report. They also offer warnings. One is about how homeowners can destroy their negotiating position when speaking directly with buyers and buyers agents. Another is about opening their door to strangers when home alone or without confirming their identity.
Here’s the first half of Letter #9: “When you get an offer.”
Last time I wrote I cautioned you about responding to “Would you take…” statements from buyers. I want to go back over that, because it’s important that you not answer those questions.
Why? Because the price is only part of the package. You need to know the terms as well, and it all needs to be in writing. There’s an old saying in real estate that cautions: “If it isn’t in writing, it didn’t happen.” A verbal offer isn’t worth the breath it takes to say it.
So – insist that the offer, with all of the terms, be presented to you in writing. Most buyers don’t carry purchase and sale offers, which is why I advised you to get your own. If you have a serious buyer, hand him or her copies of your disclosures and a purchase and sale agreement. You want all of them back, properly signed. If you’ve noted problems on the property disclosure, ask them to initial those entries, along with signing to verify receipt.
When you get the offer, do not respond immediately. Thank your buyers and let them know that you’ll respond within the time they’ve specified on the offer. If they haven’t given you at least 24 hours, ask them to change it.
As a bonus to the homeowners – and as an incentive to get them to call you – the FSBO Letter set also includes a seller’s checklist of things to do outside, inside, and just before buyers arrive.
By the time your prospects read the special report and several of the drip marketing letters, they should be starting to realize that if they sell their home themselves, they will have more than earned any dollars saved on commission. They might even realize that this is something they simply cannot do.
How often should you mail these real estate letters? This question comes up regularly and it has no hard and fast answer. But if I were you, I’d mail the first 3 letters about 3 or 4 days apart, then go to 5 or 6 days for a couple, then weekly until you complete the set. If they still haven’t called to list, put them on your “staying in touch with past clients and sphere of influence list” and give them a call every couple of weeks.
What’s the price? Only $99 for all ten letters, plus 3 versions of the Special Report and the seller’s checklist.
What about email marketing?
You can also use this set of real estate letters for email drip marketing. Just put a capture box on the appropriate page on your website and offer the “Getting Started” report in exchange for names and addresses.
Be sure to set your autoresponder so they know the message is from you – and be sure to use a header your prospects will recognize and come to welcome in their in-boxes.