Case Study: Realtor Helps FSBO With No Strings; Gets Listing

This week Ben spoke to one of our members, Jim. He's a newer member and has two FSBO listings and one buyer client.

In the interview they go over:

• How Jim has two FSBO listings.
• He just drops his book off and offers to help.
• Jim then does a CMA of the home for when they call.
• All other agents pressure and annoy these owners.

Highlights:

Full Interview:

Transcript:

Jim: Well one of them I dropped by just like you guys say, you know, that's driving by I have it in my truck all the time.

I've seen a for sale by owner sign, the people were out in the driveway, I just pulled up, jumped out real quick and walked over and told them and said here's a book that might be able to help you sell your house a little faster for a little bit more money and if you have any questions feel free to call me and you guys have a great day, and I turned and walked away.

Ben Curry: So you didn't stand there for ten minutes and try to build a rapport or anything, you just gave the book and left.

Jim: Just gave them the book. Told them if they have any questions I'd be glad to answer them for free, no cost, no obligation.

Ben Curry: Oh, wow, okay. And what happened after that then?   

Jim: About ten days later they called me and said hey you dropped the book of with us that one day and you didn't try to pressure or anything and you just, you know, we read your book and we have a couple questions.

They were general questions, you know, if I thought I could get more money and I told them I actually looked after I dropped off your book and you're about 15,000 below market which you should be selling your house at and I said I could sell it, you could still pay me and still make more money.

Ben Curry: Oh wow.

Jim: And they told me well when can you be here to list our house?

Ben Curry: That's always a good thing to hear, so.

Jim: I do that all the time, whenever I drop off a book I write down the address and then I go home and I do my own CMA.

Ben Curry: Okay

Jim: So if they call me I can automatically say oh, yeah right here it is in front of me, I've done a comparative market analysis for you and you're 15,000 under market and they told me well the county assessor's office says this is what my house is worth and I said the county assessor's office is anywhere from 10-20% low.

Ben Curry: Yeah, that's true, that's true. So what did they have it on the market at? What was the price they were asking?

Jim: They were asking 85 and I told them, I said, I can sell your house for 100, I'm gonna list it at 105 and we sold it at 103.

 Ben Curry: So it already sold?

Jim: Yeah, well it's under contract.

Ben Curry: Oh wow, that's pretty cool. Okay. That's interesting. So have the books helped you get better results in other areas or mostly just with the two FSBOs you've seen so far?

Jim: No, I've also ... I told people now ... They ask me, you know, do you have a business card?

And I told them I do and I hand them a first time home buyers book or a FSBO book, whichever they happen to be doing.

And I had one ... I've had a couple young men, I had one right now that I'm working with right now to find a house that his parents were there, he's 23 he's kind of young, so they're kind of there to make sure everything is going okay and I gave the parents a book also. I said here's my business card, I don't give out business cards I give out books and dad goes so you've written this book?

I said my team and I have written this book, yes. And he goes okay and I said if you go to the website that's on there you'll find out there's four other books on there also.

And he goes, yeah okay, so when can we start looking at these houses that we're looking at and I said well we can look right now and I said, you know, we can start looking right away and so right now I have two more houses to show them this weekend.

Ben Curry: Oh wow, okay. So it's their son that's looking at buying a house?

Jim: Yes

Ben Curry: Okay. Do you think he's pretty serious, like he's actually going to do something?

Jim: He's already pre-qualified and everything.

Ben Curry: Oh wow so he is serious. Awesome.

Jim: Yeah

Ben Curry: Okay

Jim: I also got another FSBO, I was sitting in the casino one day talking to the lady next to me asking her what she does and she goes well what do you do for a living and I said well I'm a realtor and she goes well I'm trying to sell my house for sale by owner.

I said really? She goes yeah and I said you having any luck, she goes well, I've had a lot of people look but nobody make an offer. I said okay, I said I'll tell you what, I'm going to give you a book to read.

I said it's for exactly that, it's for for sale by owners and it's gonna be one of those that's, you know, gonna tell you how to best set it up. I told her I was a realtor and that I've written a couple books and that this right here might help her. I went out to my truck, got one out of my truck brought it back into the casino, gave it to her. The very next day she called me and said hey can you come list my house?

Ben Curry: Wow. So how many listings have you gotten from the books? Just the two so far?

Jim: Just the two but I've only have them now three months.

Ben Curry: That's pretty good. Okay. How many books did you ... Have you given away so far?

Jim: Uh, probably 40 or so.

Ben Curry: Okay, so 40 and you've gotten, it sounds like two pretty good buyers and two listings as well, correct?

Jim: Yes.

Ben Curry: Okay

Jim: Well actually, the lady, the second listing she is also a buyer so I'll have both sides of that.

Ben Curry: So, maybe potentially three buyers then

Jim: Yes

Ben Curry: Oh wow. Okay.

Jim: Because I carry the books everywhere I go.

Ben Curry: Okay, that's smart. Alright, have you used them in any listing presentations?

Jim: I have not used them on listing presentations, like I said, usually when I get called I've already ... I don't know if I've just have done enough talking already to where I'm going in there to do it cause I've never really had to do any listing presentations yet to get out.

Ben Curry: Yeah, I see what you're saying. Okay. Have you gotten referrals from the books yet or people that have maybe passed them on to a friend?

Jim: Not yet.

Ben Curry: Okay, alright. Okay so so far you were driving down the road ... So the first FSBO you were driving down the road and just saw the sign and knocked on the door or what happened there?

Jim: No, they were out front mowing the grass and one was washing the car.

Ben Curry: So you, okay, so you were driving past you see them outside and you're like hey I'm gonna stop and talk to them?

Jim: Yep

Ben Curry: Or you didn't even talk much, you were probably the quietest

Jim: I didn't I just told them I said listen, I'm not gonna, you know, I'm not trying to buy anything, I'm not trying to sell anything, here's a book that might be able to help you sell your house a little faster for a little more money. And I said you folks have a great day, if you have any questions you can call me any time, no obligation, no cost.

Ben Curry: That's pretty good. How many books have you given away to FSBOs like that? Is that the only one or are there several more?

Jim: No, I've given away probably at least twenty that way.

Ben Curry: Okay, so you've given away twenty. I mean, yeah, a lot of people expect I gave away three books and I get two listings but you've done that to twenty different FSBOs and as a result you've gotten a listing plus the woman you met at the casino.

Jim: Correct. My thing is if I buy a hundred books and I give away a hundred, if I can get five listings out of it, I've made my money back plus a whole lot.

Ben Curry: Yeah, that's true.

Jim: I mean a lot of our market is probably you know, averages is a hundred and fifty thousand

Ben Curry: Okay

Jim: But, I mean I have ... Not from the books but I mean, I have listings also for 1.5 million

Ben Curry: Oh wow.

Jim: I have a commercial gas station, an 8 pump gas station with three business fronts for 1.5 million.

Ben Curry: Yeah, that's a big difference. Yeah, 1.5 million will be a nice sale, so. Which books have you used? Just the FSBO books and the buyer book or do you have some of the other ones you've handed out?

Jim: I have two of the FSBO books, first time buyer book, and there was a fourth one, I forget which one I picked out. I'd have to look in front of, I'd have to look at my library out in the truck.

Ben Curry: Okay, so before you had the books what were ... What strategies did you use in the past to get business? A lot of referrals, repeat business?

Jim: I get referrals, I would still advertise on Zillow, I would still do some of those other things as well. I didn't do any cold calling or anything like that, I just ... I talked to everybody, I have a ... You know with business cards I have the thing where I say ten a day, I give away ten business cards a day to people I've never met.

So if you're standing in line in front of me at the grocery store guess what you're getting before we're done?

Ben Curry: A business card

Jim: You're getting a business card before I go home.

Ben Curry: So what ... Ah, okay, let me ask you this, because a lot of people struggle with that, myself included, is starting conversations, if you're, if I'm standing in front of you at the grocery store what do you say just to get the conversation started? Or just hand over a business card?

Jim: I mean, I look for something that's gonna tie us in. A lot of times I, you know, I ride a Harley, I see somebody with a Harley Davidson shirt on, I've got something in common.

Ben Curry: There you go.

Jim: I'm also disabled veteran, so if I see somebody that has an Army pin or an Air Force emblem or something, I ask them when they served and what they did, and then of course, I used to be an aircraft mechanic but now I'm a realtor and, you know, I say, I do pretty good at it, it's my retirement check, now it's my retirement business that I'm gonna be doing for the rest of my life, I say look here's a business card if you ever hear of anybody looking to buy or sell or yourself, if you're wanting to buy or sell just give me a call, I'll be more than happy to the question, I say, that way you can help another veteran out.

Ben Curry: That probably works really well.

Jim: It does work pretty good. I get ... I mean I've not gonna get over-abundance but I do pick up a couple from it, so.

Ben Curry: Yeah, it's all about planting seeds. Okay, do the books make it ... Do you feel a little bit more confident maybe stopping and talking to the FSBOs and doing other stuff giving away a book rather than, you know, the other strategies of talking to them or trying to build rapport, etc.

Join me on this workshop and I’ll show you 5 proven strategies that will enable you to list 29% of the FSBOs in your market.

But, I do have to give you a Warning!

DO NOT attend this workshop if you love prospecting, objection handling and browbeating people into doing business with you. These 5 techniques won’t work for you! Why not?

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