YES Talk 261- Overcoming FSBO Objections: When They Say They Sold It

So what do you do when the for sale by owner says, thank you for your call, but we already got it sold? Hey there, it's your coach, Kevin Ward, the founder of yes Masters Real Estate Success Training, helping you get more yeses and more successes in your business and, and in your life. And this was a question I had from a coaching member. Just recently. They were calling for sale by owners in a lot of your markets. There is a ton of for sale by owners starting to come on the market. And as the market has slowed down, guess what's happened? It's getting harder for for sale by owners to sell the house themselves, but sometimes they do. So what do you do when you're calling them? Maybe it's the first call, maybe it's second, maybe it's the fifth call and they're going like, well, thank you very much for your call, but we got to sell. We don't need your help anymore. We don't need your help at all. We got it. What do you do? How do you handle that objection? Well, one, we're not sure if it's an objection or if it's a condition. An objection means they're just saying it and a condition means it's gone. So done. How do you know? I don't know. So what do you do? Okay, well, number one is you just congratulate them. Oh, you guys got it. So congratulations. Good for you. Okay, so I am going to. Not one, I'm just going to. I'm going to accept it at face value. I'm going to believe them and go, okay, great. Congratulations. Now I may dig a little deeper and go like, awesome. So have you guys already, like, opened escrow or have you already got the earnest money deposited with the title company? Ask some questions just to find out. What does that actually mean When a for sale by owner says we sold it? That doesn't always mean they sold it. It doesn't always mean it's actually under contract or pending or in escrow. It sometimes mean like, yeah, we showed it to a couple yesterday and they said they, you know, they told us we negotiated the price verbally and they said that they're going to do the paperwork and they're going to bring us an offer tomorrow. And so they really haven't sold it. They just like, we got it sold. And what they're saying is hope. Wishful thinking. And we don't want you messing with us. Don't pressure us, don't bother us, because we think we got it sold. But I'm just Going to be congratulatory and say, oh, good for you guys. That's awesome. I'm not going to be disappointed or skeptical. When you come across as disappointed, then you sound a little desperate. When you come across as skeptical, you look like a jerk. Okay? And what's worse is you are making the for sale by owner wrong. So no matter what you're doing, and this is just a principle of lead generation for, especially with for sale bay owners because they think they can do it themselves. Never make a for sale bay owner wrong. Never say something like, well, that's in a way that makes it like you're, like you're implying that they're stupid or like that's a stupid strategy. So don't do skeptical and go like, oh, oh, you got to sold. Really? Did you get signed a contract? Has the attorney reviewed it? You got earnest money deposited? Is it really sold? When you do that, it just makes them not want to talk to you. You create resistance, so don't do that. So number one, hey, congratulations, that's awesome. Ask them a few questions about. So like have you guys. You guys. And they have signed the offer. If you already deposited, had the earnest money deposit put in the title with the title company or open desk girl or whatever it's called in your state, has that already happened? Okay, great. Well, listen, and then it's number two. So number one, I'm just going to congratulate them. Number two, I'm going to offer to help. Is there anything I can do for you? Any questions that you have or any information I can get for you right now that would be helpful. Now there's two ways you can offer to help. One is just generally be helpful. Like, hey, is there anything I can do? Anything I can do to help? Any questions you have, any information you need. Now the other thing, way you can offer to help is you may want to actually put yourself in there and go like, hey, well would it be helpful? Would you, would you like some help in actually getting this property through escrow and through the process and actually making sure it gets closed? Because I can actually do that. I do that for a very much reduced rate. I'd be happy to help. And you can offer to do it for 1 or 2%. And basically I'm going to handle all the transaction coordination, making sure the buyers get their loan approved, the appraisal is done, inspection is done, all the stuff that needs to happen. That when for sale managers do it, you got an amateur seller and an amateur buyer, which means neither one of Them really know what they're doing. They don't do this every month. They don't do it every year. They do it once every decade. Right. So they don't know. So you can offer to help them with an offer of service for a reduced compensation commission. Okay, that's. That is. Or you can just be helpful. Totally up to you how you want to do that. Okay. Number three. And this is the most important thing when I do this. Yay. Congratulations. Good for you. Hope it goes well. Can I help with anything? No, we're good. Okay, cool. Here's number three. Don't buy their story. Don't believe them. I'm not saying they're lying, but I'm saying when they tell you they've got it sold, having it sold does not always mean the same thing. One, it may not even mean they have it on contract. It may be the verbal thing, right? Or here's the other thing is things happen, okay? Things happen. And especially when a for sale by owner who does not know what they're doing, relatively speaking, compared to a professional agent and a buyer who does not know what they're doing compared to having a professional buyer's agent representing them. Deals fall apart. Now, we are in a market right now as I'm recording this, where in the United States over June and July, about 15% of all. All real estate transactions fell out. They fell apart 15%. That's more than double what it is on a normal market. So what happens is people are getting scared. Market's getting slower, interest rates up, consumer confidence is down. People are worried. So homes are sitting on the market longer. So people are like, they're getting scared. Sellers are getting nervous. Buyers are getting nervous. So what's happening? More deals are falling apart. More buyers are saying, ah, we changed our mind. More sellers going, like, I don't know, maybe we better hold off. And because that deals fall through. Well, when you've got. Even in a situation, we have two agents and buyer and seller, and that deal falls apart. Imagine what happens when you got nobody really representing to help pull this thing together and you got a sale by owner and a buyer who does not know what to do. And deals fall apart, they don't even know about the appraisal or they forget about it, or they, they put it off, or the buyer really isn't qualified. But they're trying to make it work. Trying to make it work. And so the seller, they're all excited, they're making plans, they're doing everything as if it's sold. And it's not. And so whereas 15% of all transactions right now across the board are falling apart, it is in many cases upwards of 50% chance that, that for sale by owner's deal is not going to close. So what's going to happen? It's going to fall apart. What's going to happen then? Well, they've already, they've started making plans, mentally and emotionally. They're prepared for it to sell and close. And they're like, oh, no, no, we're starting over. Oh, we're starting over a scratch. Okay, we got to get some help. We got to get something. We got to do something different. So number three is don't buy the story. Number four then is follow up. Every week. Every week? Yep, just follow up. Just say, hey, want to touch base, see how it's going? I know you guys got the property sold last week, had the contract on it, and just want to touch base, see how everything's going, how things come with the appraisal or inspections. Just kind of, I'm just touching base, trying to. And just finding out how things are going and is there anything I can do to help? Okay. Basically all you're doing is being there for them, just being. I'm just here for you if you have any questions, need any help, need anything. I'm here for you. And all I'm doing is I am building credibility and trust, not pushing them. I'm not trying to wish him bad luck. I'm just here, you need me, I'm here for you. Okay? Because that leads to number five, and that is be ready to come to the rescue. Because like I said, there is a pretty good chance, upwards of 50% chance in a lot of cases that that transaction is not going to close. The. The for sale by owner is now ready to be done, ready to sell, ready to move on. And that is when you have the opportunity and the door opens for them to say, okay, come on, we'll talk to you. And there, my friend, is your opportunity. So when you go in, you go in on their side, you be for them, not against them. You be helpful, you be present and you be ready. So when that happens, like, hey, look, I know it's frustrating. If I could help you get the property sold and net you the money you need to make this happen, I would you at least be willing to talk to me about it now? Okay, so what objections are you running into right now in your business? Put those in the comments below. That'll help me know what videos to shoot next. If you have any questions, also post them in the in the comments below. Give the video a thumbs up if you like it. If you're here for the first time, make sure you subscribe to the channel and I'll see you on the next video. Always expect Yes.