How to Preview a FSBO to Get a Listing Appointment - Kevin Ward

winters Kevin award here at Kevin now DICOM one of the questions I had an accent two agents asked me that this question this week is they are talking to four cell by owners and they're they've got an appointment with a for sale by owner to go and preview their home or to go see the house and so forth and so the question is it's not actually a listing appointment how do you approach a preview appointment or where you're going to see if or so by owner and see the house and so forth so I want to just share with you some several thoughts on that about what it takes to what's the best approach in talking to a for sale by owner and the first thing is is to respect their perspective and by that I simply may never make a for sale by owner stupid or wrong or inferior because they're trying to sell the house themselves because one of the things for example that you ask them is so what methods are you using to market your home and they're going to tell you you know whatever they get a sign in the yard they've got it on Craigslist they may have advertised it on a website they may have run it in a local newspaper or whatever they did whatever they're doing to market the home excellent good for you you affirm what they're doing great so you've got it you got it on Craigslist get sign in the yard you do it open houses good for you I've repeated and I've affirmed what they're doing because to them that makes totally perfect sense that they would do it that way so one is you've got to create agreement with them so that they don't see you as you're it's you against them they want to see it that it's you and them that I'm here to help you and that's fit with the approach that I teach is is that when you first talk to a for sale by owners say I work with a lot of buyers and sellers in the area and I was just wondering how can I help you is that I'm here to help you and I'm not here to get your listing I'm not here to you know charge you money I'm here to help you get the property sold so that's the first thing is you want to identify with them don't make it wrong see it from their perspective and respect that perspective the second thing that you want to do is never buy into their apparent lack of motivation don't buy another story when they tell you know if I don't sell the house who cares I'm just I'm testing it out didn't really matter I'm in no hurry have you ever had that happen or somebody told you that and you believed them and then you call back two or three or four weeks only to find out that the very next week they listed with an agent oh don't you hate it when that happens what would happen they had more motivation than they let on now this doesn't always happen but you have to assume that when they tell you well you know what we're gonna at least trotter souls for a couple of months and we're in no hurry and we'd bah bah blah and they're tough they're they're downplaying their motivation what they're doing is that's their script they're using that as a way to keep you from trying to get them to list the property because they don't want the pressure and so they just say you know what we're not doing anything right now it keeps them in control and if you believe them and you buy into that then you're never going to know if that's the reality or not until it's too late so you want to make sure you're asking questions to identify obviously the third most important key in in working with for sell binders and talking to them is dig in to find the real motivation what is their motivation for selling this property now that's true with any seller that the most important key for anybody before the list a house is what is their motivation because if they're not motivated they're either not going to list it or they're not going to be realistic and when they list it about what it's going to take to actually get the property sold so they'll over price it or they'll be demanding about all kinds of marketing that doesn't help so I've got to ask questions about motivation just to identify what their position is and so forth now let's say you've talked to them on the phone and they say yeah come on home see the property we're not listing it we're just you know but we'll you know if you bring us a bar we'll pay you a commission so here's another tip one is never fall into the trap of saying hey if I have a buyer will you pay me a commission or say well great if I have a buyer I'll bring them over I see whenever you do that and it's a lot of people will teach you to do that it's like you call them and say hey you know I'm surveying for so by owners in the area and I want to know if I bring over a bar will you pay a commission well of course I mean though I'll do that I mean virtually not always but virtually all of us I know you bring a bar and I'll pay you a commission and my question is why in the world would I approach a force all by owner that way because here's what I just did what I just told them was mr. for Sale By Owner your approach works perfectly and I'm willing to cooperate with your approach and that is that if I have a buyer for your house I'm going to magically remember your house and find your house and find you and I'm going to bring my buyer to see your house you see what you do is whenever you go and go with this impression of hey if I have a buyer I'll bring them if you ever say that or if they say well I'm going to work with an agent well if I brought you a buyer would you pay a commission well yeah well what you just told them is you don't need to hire an agent to sell your home all you need to do is let all the agents know the call that when they have a buyer all they got to do is bring them and they'll get taken care of they'll get paid a commission see here's the reason you should never say that that's not the way it works okay the reality is that's not how for sale by owner sell and that's not how real estate agents find properties for their buyers so two things happen one is I'm I'm misinforming the for sale by owner that their approach works their strategy works that is that hey you whenever they whenever if they let other agents know they're willing to work with an agent whenever an agent has a buyer they're going to find mister for sale by owner the reality is that's not how we find buyers or find listings right if you have a buyer think about it you're an agent you have a buyer how do you look for properties for that buyer you get on the MLS and you look and see what's available okay you don't go out scrounging around looking for for sale by owners that's the I mean if you had to there's no inventory and you find it for so by owner okay we'll try to match them up but every real estate agent the spin of the business or ever tried to do a sell and for sale by owners listing without being listed is you know that chances are working with a for sale by owner is much more difficult than if you are working with them through another agent and it just doesn't work that way when we have motivating qualified buyers we go on the MLS and that's what we would prefer every real estate agent would prefer to show them a property because you know you're going to get paid a commission you know there's professional standards standards of our profession that are going to happen throughout the listing and selling process when you're working with or sold by owner it's anybody's game and you're going to have to fight very Commission or it's always an uncertainty you're going to run into more problems because you get a for sale by owner a homeowner trying to represent themselves you know you've heard in law they teach the truth only a fool represents himself right so it doesn't it the fact is it doesn't work that way for force all by owners if they want ages to bring a listing so why would you play into that game because what you're just telling them is don't list with me I have a buyer I'll bring them so whenever they say well do you have a buyer bring it here's the way you respond to that great so if if an agent brings a buyer you are willing to pay a commission excellent well do you have a buyer for me you know what that's a great question mr. seller and I'm not calling you because I have a specific buyer for your house the reason I'm calling is because I help people like yourself sell their home for top dollar in the best time possible with the least amount of hassle and then I'm going to go into another question so if you sell this house where you going next I'm going to now go into motivation so whenever you go to a for sale by owner let's say you talk to on the phone is the I come over to see the house and I'm willing to work with agents to bring a buyer and great ok good so I'm going to come over and I'm a seat house what do I do well one don't try to list the property that's what we call a bait-and-switch ok and sellers feel tricked if they think you're coming to preview the property for a buyer or their I think you're coming just to see the house so you can know what's on the market or just to meet them whatever don't try to turn and switch and list the property now a lot of people will try a lot of agents will try to do that the problem is one a lot of times they're going to feel like you came in with false pretense you came in there to preview it and now you're trying to get me to sign a listing agreement come on and they and so you actually hurt yourself because you create distrust now would you agree that Trust is pretty important between you and your clients you and your sellers absolutely so what you want to start out is by being honest with them and that's why I don't say hey if I bring you a bar all right yeah I may have a bar for your house I'm going to come see it ok now if you have a buyer for their house then you can say that but here's the problem what if it the house doesn't work for your buyer well now what are going to tell them well didn't work for my buyer so now this with me ok well I don't want to listen you I'm just going to do what we just did that is whenever an agent has about I was telling to bring them on over okay and so that you're going to run into that and you see you've got to be careful and realize the mindset that they have is if you're telling you'll bring buyers they don't think they need you when the reality is they need you a lot client because they are handling a several hundred thousand or sometimes over a million dollar asset transaction of that and they're trying to do it themselves they're trying to do without professional representation because when you're selling a 1.2 million dollar house or a two hundred thousand dollar house it doesn't matter you're handling a huge financial transaction you need professional representation that's why real estate professionals are still needed and that's why still over 90% of real estate for sale by owners that actually end up selling actually end up listing and selling their home with a real estate professional now you go to the house you're previewing you're going out to preview it or to meet them or whatever you haven't gone out there to list it so what do you do well get out there meet them be excited about their house and identify their motivation and then ask for an appointment now here's how that plays out when I get there I'm just like hey thanks again for AB numerous itíd about taking a look at your house and you know and then as I go through the house take what I use as a seller information sheet it is just a lead sheet and I'm just taking notes on the property I ask them if they have a flyer on the property which they probably do and I get a copy of the flyer and so I'm taking notes on it but I'm not asking them questions about the property because what matters when it comes to selling a house the property or the sellers motivation and the reality is it's the sellers motivation so I don't ask questions about the property what I'm doing is great so when the house doesn't you said you guys are moving to San Diego that's exciting so how soon are you wanting to be there what's taking you to San Diego oh that's exciting and so I'm just talking to them and I'm getting excited about what they're excited about I'm focusing on what's important to them so I'm curious now you guys have decided to put it on the market for yourself why did you decide to just try to sell it yourself rather than a list with a professional real estate agent well we want to save the Commission okay great so obviously you want to say was just basically there's dollars and cents right I'm making a me that reasoning totally makes sense and tell them that and them just economics right it just makes sense so now and here's the clothes and this is over the phone or at the house and it's it's the two-step if you want to call it that I'm at the house now I'm talking to I'm not sayin a so you don't want to get together and let me enlist the house with me always speak in terms of their interest in their perspective what do they want they want to net the most money in their pocket so I find out their motivation that they're realistically motivated solar house they have a reason to sell it and then I ask a very simple question and it's almost again I use that it's the Columbo technique of so let me just ask this if I can help you get the home sold faster if that's a motivation issue form get the home sold faster for you and get you to San Diego sooner rather than later and most importantly if I could help you net the money you want to make in your pocket would you consider going ahead and interviewing me now and that's the line guys right there is the magic well how are you going to do that and after all the Commission's and everything you know it's going to cost me more money you know and I hear what you're saying and I and understand what a lot of people a lot of for so by owners think that way but again if I could help you do it and get you the money you need in your pocket even after my Commission's and everything would you at least talk to me about it well you know I talked to you about it great then what I'd like to do is just set up a time to sit down and just take a look at what I could what it would take to get your home sold get you the most money in your pocket and get you to San Diego sooner rather than later even after all my costs and everything whether it be great great so would it be a good time for us to get back together and go over there well why don't we just sit down right now well I'd love to but what I need to do is some more homework on your property now that I've seen it I want to do a full market study on it and then be really prepared to sit down with you and show you the numbers to show you what it's going to actually how it's going to play out and make sure that it's to your benefit to hire me does that make sense great so I could come out let's see this is Wednesday afternoon I can come out tomorrow afternoon around 5:30 or wood on wood Friday around 2:30 work better for you tomorrow 5:30 great then I'll look forward to seeing you at 5:30 now I just got the and I did it on very fair trade if I can help you Nets get the home sold net the money you need in your pocket even after Commission's and everything would you consider meeting with me that's the approach and when you use that approach it's totally fair I've clarified by going to their house and meeting them I've clarified their motivation and literally your time at their house will be shorter than the time of this training video is it's not going to take you that long to figure out their motivation to talk to them to understand what what they want and then ask them hey if I can help you get what you want in the time you want to get the money you need would you consider interviewing me now talk to me

Channel: Kevin Ward | YesMasters - Real Estate Agent Coaching and Success Training

Views: 99,439

Rating: 4.8611989 out of 5

Keywords: FSBO, For Sale By Owner, Kevin Ward, kevinnow.com, real estate agent training, real estate experts, real estate coaching, real estate scripts, real estate prospecting, real estate seminars, real estate mentor, real estate leads, lead generation, real estate presentations, objection handling, overcoming objections, how to get listings, youtube real estate, real estate marketing plan, stop the bs, dinwitwin

Id: VckONvCFs3M

Length: 13min 52sec (832 seconds)

Published: Wed May 16 2012