Script Practice Saturday

Happy Weekend everyone! We hope you’re having a successful time hosting open houses and taking clients on showings. In order to continue to help you to grow your business, we will be sharing a real estate script every Saturday. If you’d like to see a script for a specific topic let us know by emailing Jennie at jsherkness@kw.com.

Today we’re going to look at how to talk with a FSBO:

FSBO: I want to sell it myself.

AGENT: That’s great; may I ask why?

FSBO: I don’t want to pay the commission.

AGENT: I understand that. Are you aware of the fact that many times an agent is able
to net more money than if a home is for sale byowner (FSBO)? The main reason is that a purchaser, when looking at a home that is FSBO, deducts the commission from the price, and uses that new price to make an offer to you. You’ll end up with the same net result, or probably a little less, and so you might as well have a professional handle it for you. Let me ask you this question: would you consider paying a 3 percent fee if I brought you the buyer?

FSBO: If it was a good buyer. And if I was still able to make my net goal.

AGENT: Okay. Because I find what will quite often happen is the owner is willing to pay a 3
percent fee for what I would call a “finders” fee, so we’re basically just talking about 3 percent here, correct?

FSBO: Yes.

AGENT: And you’re priced at about so we’re looking at roughly. I can tell you that, quite often, with the extra demand and sense of urgency that I can create—my list-to-sell ratio waspercent—I can often net more money than if you tried selling it on your own. The
best thing for me to do would be to come and meet with you. I could show you the statistics and explain how you can net more money working with an agent who knows what he’s doing. Would you be interested in making an appointment?

FSBO: Well, I’m fairly sure I can find buyers on my own. What can an agent do for me?

AGENT: I understand. You probably can find buyers on your own, but you need to understand one thing. Do you mind if I explain something to you?

FSBO: No, please do.

AGENT: Okay, if you have ten people who all want to buy one thing, what do you think is
going to happen to the price?

FSBO: The price will go up.

AGENT: Let’s say you have five things for sale and there’s only one person who wants to
buy them. What would happen to the price?

FSBO: The price would drop.

AGENT: And that’s exactly what happens after you list a property. When you put your
property on the market, instead of getting the one person looking at four or five things, you’ll be getting the ten people looking at one. Therefore, with the real estate community, 80 percent of active buyers are working with a real estate agent. You will immediately be exposed to all one thousand agents in our marketplace, who are then going to be able to create that sense of urgency to create a scene where ten people are after one property. Does that make sense?

FSBO: It does. But how are you going to do that?

AGENT: Keep in mind that, first of all, when you list your property with me, I’m constantly marketing for buyers. I’m constantly running advertisements. I’ve got my ads all over the Internet. So our phones are ringing every single day with buyers. The moment you get listed with our office you’re going to immediately tap into this pool of purchasers. It’s going to happen immediately.

Are you interested in joining a company that teaches it’s agents how to talk to clients in all situations? Then give us a call at 215-631-1900 or email Jennie at jsherkness@kw.com.

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