Organizing your plan of attack

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Confine your efforts to a concise geographic area that allows you to stop by the FSBOs and see the owners as regularly as once every two weeks. When it comes time for them to convert to an agent listing, they'll find it harder to reject you or choose not to interview you if they've met you and know you personally.

If you work a large geographic area and are unable to whittle it down to a more concise area, expect to encounter a great many FSBOs. The easiest way to organize the opportunities is to track each home by the owners' phone numbers. Owners will change their ads and their asking prices, but they'll rarely change their phone numbers, and so by filing each home under its phone number you'll eliminate the risk of duplications.

I kept a lead sheet for each FSBO prospect and attached clippings of all ads the owner had run. Whenever possible, I called the sellers and talked with them about their ads, making suggestions about how they could improve effectiveness. Then I'd watch for revisions. When they implemented the changes I'd suggested, the update indicated that I had built a level of trust with the prospect and that the likelihood of an interview was beginning to skyrocket. As long as you keep them simple, you don't need to worry about making too many suggestions. Because the sellers are only accessing a very small percentage of the marketplace of buyers, the chance of them selling because of your guidance is small. However, you'll gain trust a lot faster through the appearance of helping them save the commission.

Remember, all you're trying to do is gain a commitment that if and when the owners decide to turn the job of selling their home over to an agent they will interview you for the job.

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Real Estate Investment Secrets

Real Estate Investment Secrets

Discover the Jealously Guarded Insights of Real Estate Tycoons and Hot Dealers! Back in the days of the wild, Wild West, when easterners traveled across this vast country looking for opportunity in the newly opened territories, they were often referred to as a ‘tenderfoot’.

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