FSBO leads are easy to find but sometimes challenging to convert into clients. A listing agent who generates and nurtures FSBO leads will find targeting this niche group an excellent strategy for growing their real estate business.
If you ask an FSBO seller why they chose not to hire a real estate agent, they’ll provide a pretty convincing argument. FSBOs are confident they’ll save significant money by avoiding agent commission fees.
An FSBO listing only works well if the seller already knows a buyer or has experience in real estate and marketing strategies. Otherwise, they miss out on high-profit selling opportunities only real estate agents can offer.
Before we discuss finding and converting FSBO leads, let’s dive deeper into what an FSBO is.
What is FSBO?
FSBO, or for sale by owner, is a property sold directly by the homeowner. While FSBO sellers benefit from no listing agent commission fees, which usually sit between 5% and 6%, there are several disadvantages to listing without an agent. FSBO drawbacks include no MLS access and paying the buyer’s agent fees, which make up half of the listing agent’s commission.
With no MLS access and still paying buyer’s agent fees, it’s no surprise that FSBO listings only account for 7% of home sales.
Why are FSBO leads important?
FSBO leads are a valuable lead source for many real estate professionals. The older the FSBO listing, the more likely the lead will convert. This is because homeowners who fail to sell their property as an FSBO are more inclined to hire a real estate agent.
How to find FSBO leads
FSBOs aren’t on your MLS, but you can find them in plenty of other places online. While you can pay for FSBO lead generation services, there are several free ways to find and convert FSBO leads.
Here are three free strategies to find FSBO leads:
Hop on Zillow
Zillow is the leading third-party listing website, and it’s often the first place buyers search during the early stages of the home-buying process. Zillow allows users to customize their home search preferences with various filters, including by who’s selling the property.
Here’s how to find FSBO leads through a Zillow search:
- Type a zip code into the search bar
- Click the red-dotted For Sale button and select “By owner”
- On the right-hand side, under Real Estate & Home Sales, select the “other listings” button
- Review the FSBO listings to find contact information and DOZ (days on Zillow)
Try and find FSBO listings that are more than 30 days old. Sellers with older listings are much more likely to convert as they are likely frustrated their home isn’t selling. To filter DOM (days on market) or DOZ, click the more button on the top banner and select from the “Days on Zillow” drop-down.
Browse Facebook real estate groups
Facebook has over 10 million groups for users to join. These groups range from broad topics to hyperlocal niche interests. You can find local real estate buying and selling communities through Facebook’s search bar.
Once you join local real estate groups, read and follow the rules. Some communities may not allow members to promote or solicit business opportunities. Regardless, Facebook real estate groups are an excellent place to find active FSBO listings.
Search For Sale By Owner
For Sale By Owner is another third-party listing website. This FSBO-specific listing platform offers sellers resources and guides to help them single-handedly sell their homes.
While For Sale By Owner is a nice option for FSBO sellers, it also makes it easy for real estate agents to find leads. Like Zillow, once you find an older FSBO listing, contact the seller with your marketing pitch.
Convert FSBO leads with Virtuance
To convert an FSBO lead to a client, you must show the owner how your exceptional marketing strategies and wealth of real estate expertise will sell their listing.
Many FSBO sellers need help understanding the importance of professional real estate photography; therefore, your presentation should include examples of listing images and marketing statistics that prove they work.
Virtuance’s real estate photos increase showings and sell listings faster than competing photography providers. Showcasing your use of professional real estate pictures can win over the most stubborn FSBO seller. Get started with Virtuance by scheduling a shoot today.
