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#377413 - 05/30/11 01:14 AM Re: Cold Calling Scripts [Re: NJCanuck]
Anyelina Offline
Member

Registered: 11/12/10
Posts: 227
Loc: Miami
Originally Posted By: NJCanuck


A good reason for a FSBO to hire an agent is simply to remove the hassle and the risk (agents usually are insured with E&O insurance, at least here it's mandatory). If the person selling his own house has enough time to wait, and enough energy to show the house, deal with callers/agents/etc., market his property, know how to price it right, and adjust the price objectively, and in general doesn't mind this work, then he should be selling on his own, and you probably won't add any value. If someone is so hostile to you, why would you want to work with him? Just to prove a point that you can? I'm certain that that type of person would lead you back here with another huge rant smile


NJCanuck,

If an owner still lives in the property, s/he has to deal with the showing anyways. But you have a good point, about dealing all the time with the calls of buyers and agents. Definitely a good point. smile

I would like to know other solid responses to these objections and why a FSBO should list with X Realtor and not another?

I liked a lot what Navarac does: saying that he would only represent the seller and for any reason will be turning as a transaction broker or dual agent. This is a good reason for that FSBO to list with an agent rather with another. I would like to read more reasons like these!

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#377421 - 05/30/11 08:35 AM Re: Cold Calling Scripts [Re: Anyelina]
Bigtoe Offline
Major Contributor

Registered: 10/14/07
Posts: 2271
Loc: Outer Banks
Well, if you don't listen to anything the fsbo says and keep on hounding/arguing with the fsbo like you are with the agents trying to help you here, then you should be able to get the fsbo to sign just so you stop bothering them.

Seriously, some very experienced agents here have given you, a new agent, some great advice/scripts which you promptly ignored or challenged without even trying to see if they work.

Plus, you hijacked this thread.
_________________________
Your Outer Banks real estate agent. Helping people buy and sell OBX real estate since 1989.

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#377427 - 05/30/11 10:22 AM Re: Cold Calling Scripts [Re: heidi k]
drejon Offline
Member

Registered: 04/02/11
Posts: 42
Loc: buena park
The best place to go to get scripts is places like Mike Ferry or Tom Ferry’s website. To answer someone’s question at the top the best way to handle the “will you cut your commission”, just say “no”.

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#377439 - 05/30/11 12:54 PM Re: Cold Calling Scripts [Re: Bigtoe]
Anyelina Offline
Member

Registered: 11/12/10
Posts: 227
Loc: Miami
Originally Posted By: Bigtoe
Well, if you don't listen to anything the fsbo says and keep on hounding/arguing with the fsbo like you are with the agents trying to help you here, then you should be able to get the fsbo to sign just so you stop bothering them.

Seriously, some very experienced agents here have given you, a new agent, some great advice/scripts which you promptly ignored or challenged without even trying to see if they work.

Plus, you hijacked this thread.


Keep arguing the FSBO? I'm putting in a FSBO shoes here, I'm talking as if I'm the FSBO, not the agent.

Hijacked this thread? this thread is called "cold calling scripts" and that's exactly what we are talking about here, cold calling scripts for FSBOs.

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#377446 - 05/30/11 02:33 PM Re: Cold Calling Scripts [Re: Anyelina]
deepsea Offline
Veteran Member

Registered: 06/14/06
Posts: 607
Loc: Atlanta GA
Anyelina,
In my opinion you make erroneous judgements based on incredibly limited experience. Most listing agents list property because after they have a number of listings thousands of buyer's agents are out there selling them for them while they sit on the beach. They don't do it because they want both sides of the commission, they do it because its a tried and true business model.

It sounds like you don't think agents deserve their fee, so why don't you find another line of work? If you don't believe that there is any reason for a FSBO to list a property then you can't be a listing agent. If you apply your limited view there isn't any reason for a buyer to use an agent either. What do we do that they can't do for themselves? Nothing!

The truth of the matter is there are a lot of reasons why a FSBO should list with an experienced agent. I listed 13 of them in the cold calling thread. There are more. The most important one is that the actual negotiating to a successful outcome is not easy or automatic. If it were there wouldn't be a business like this that has lasted as long as it has. If you don't believe that is true than do something else. Or if you get a FSBO seller that argues every point like you do than find another one. You aren't going to convert everyone.

There is one simple reason why many people list. They are afraid to meet strangers alone in their home. Here's another, they don't know anything about the process.

Your over thinking of the process is about call reluctance. You would rather spend time thinking of reasons why it wont work than just doing it.

In my opinion a lot of people fail because they develop a mindset that they can't win.

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#377449 - 05/30/11 03:28 PM Re: Cold Calling Scripts [Re: Anyelina]
Maui Offline
Moderator
Veteran Member

Registered: 01/13/10
Posts: 759
Loc: Maui, HI
Originally Posted By: Anyelina


I came with these conclusions because that's what I have seen. Especially, those who have listings targeted to investors/cash buyers rather than people with loans. I know investors that want to buy properties in cash, they have told me that the listing agents only return their calls to them when they say they DO NOT have a buyer's agent. Right now, an investor that has a buyer's agent is a disadvantage, because the listing agents just want to deal with cash buyers without buyer's agents so they can take the whole commission.




Wait, you have cash investors and THEY are calling the listing agent? Shouldn't they be calling their buyer's agent (who I'm assuming is YOU), so that YOU contact the listing agent? Perhaps it's considerably different in your market than mine (about 51% of all transactions in my market are cash), but I find listing agents VERY cooperative to work with agents who are representing qualified buyers (whether cash or financed).

A point that I'd like to emphasize is that some very experienced and successful professionals are giving you good, sound advice, absolutely free of charge (after all, this is a platform on which we all benefit from each other's experiences) yet it may seem to some that you are quick to summarily dismiss their advice without giving it much of a chance. I really wish you the best of luck in your endeavors and I'd like to think you have a long career ahead of you. Best of luck.
_________________________
Visit our Maui RE Blog, then view our listings of Maui Condos For sale and Andaz Maui at Wailea site for information on this luxury property. View one of the hottest micro-markets in the luxury Kaanapali Honua Kai Condos For Sale.

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#377487 - 05/30/11 10:26 PM Re: Cold Calling Scripts [Re: deepsea]
Anyelina Offline
Member

Registered: 11/12/10
Posts: 227
Loc: Miami
Originally Posted By: deepsea
Anyelina,
In my opinion you make erroneous judgements based on incredibly limited experience. Most listing agents list property because after they have a number of listings thousands of buyer's agents are out there selling them for them while they sit on the beach. They don't do it because they want both sides of the commission, they do it because its a tried and true business model.


Oh yes, that's definitely the other major reason why agents want to get listings.

Originally Posted By: deepsea

It sounds like you don't think agents deserve their fee, so why don't you find another line of work? If you don't believe that there is any reason for a FSBO to list a property then you can't be a listing agent. If you apply your limited view there isn't any reason for a buyer to use an agent either. What do we do that they can't do for themselves? Nothing!


You are misunderstanding my point. I am putting myself here in a FSBO shoes and acting like I'm one of those FSBO's that are the toughest to convince and that have many objections. So I want to learn what would an agent with experience in cold calling would answer to these kind of objections that are the toughest to deal with. So if I learn how to do it, then it would be easy to handle all FSBOs!

Originally Posted By: deepsea

The truth of the matter is there are a lot of reasons why a FSBO should list with an experienced agent. I listed 13 of them in the cold calling thread.
There is one simple reason why many people list. They are afraid to meet strangers alone in their home. Here's another, they don't know anything about the process.

Your over thinking of the process is about call reluctance. You would rather spend time thinking of reasons why it wont work than just doing it.
In my opinion a lot of people fail because they develop a mindset that they can't win.


That's your opinion and is respectable. My opinion is that the ones who prepare to the worst, are stronger!

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#377490 - 05/30/11 10:38 PM Re: Cold Calling Scripts [Re: Maui]
Anyelina Offline
Member

Registered: 11/12/10
Posts: 227
Loc: Miami
Originally Posted By: maui real estate


Wait, you have cash investors and THEY are calling the listing agent? Shouldn't they be calling their buyer's agent (who I'm assuming is YOU), so that YOU contact the listing agent?



Exactly, they are calling DIRECTLY the listing agents because they want to buy that specific properties and those listing agents don't reply or return calls to agents, ONLY to the investors without agents! In other words: the investors realized that they are in disadvantage if they have an agent. I don't know in your area and your market, but here in mine, is crazy! is like a race. All the foreclosure listings that only accept cash offers, are targeted for investors and the offers are handled exactly like an auction. So if the investor has a buyer's agent will be in disadvantage because again, these listing agents are also investors at the same time and want to save the commission to the buyer's agent!

Originally Posted By: maui real estate

Perhaps it's considerably different in your market than mine (about 51% of all transactions in my market are cash), but I find listing agents VERY cooperative to work with agents who are representing qualified buyers (whether cash or financed).


Good for you. It's not the same here unfortunately.

Originally Posted By: maui real estate

A point that I'd like to emphasize is that some very experienced and successful professionals are giving you good, sound advice, absolutely free of charge (after all, this is a platform on which we all benefit from each other's experiences) yet it may seem to some that you are quick to summarily dismiss their advice without giving it much of a chance. I really wish you the best of luck in your endeavors and I'd like to think you have a long career ahead of you. Best of luck.


Definitely, I have received AMAZING advices and ideas and I'm so grateful. That's exactly the reason why I'm in this thread trying to learn what would all of you respond to these kind of objections, so I can learn more from all of you. I'm not dismissing the advice, I think you are misunderstanding also my point. I'm here acting like if I'm one of those toughest and annoying FSBOs and would like to know how you deal with one like this and with these specific objections. That's it. Is not that I'm personally dismissing your ideas because is totally the opposite!

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#377491 - 05/30/11 10:49 PM Re: Cold Calling Scripts [Re: heidi k]
deepsea Offline
Veteran Member

Registered: 06/14/06
Posts: 607
Loc: Atlanta GA
What you aren't hearing is that with that certain mindset from a know it all FSBO you don't waste precious time trying to change his mind, you move on to the next call. That is the answer. Learning who not to waste your time on is the number one most important skill in having a successful career.

Don't show unqualified buyers, unrealistic buyers, disrespectful buyers or buyers who smell bad. Don't get lost working with people with bad credit, champagne taste and beer budgets, or too high expectations. Don't waste your time with know it all sellers with overpriced listings, sloppy sellers with gross houses, rude sellers, or inappropriate sellers. Don't waste your time with people who expect you to cut your fees or who call you every day and ask why their house hasn't sold. Don't let your clients call you at 9:30 at night or on Sunday morning.

The only way you can succeed is if you have enough prospects that you can pick and choose who you want to work with. Either learn to advertise or prospect. Only work with motivated buyers or sellers who respect you.

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#377492 - 05/30/11 11:03 PM Re: Cold Calling Scripts [Re: Anyelina]
deepsea Offline
Veteran Member

Registered: 06/14/06
Posts: 607
Loc: Atlanta GA
Originally Posted By: Anyelina

Exactly, they are calling DIRECTLY the listing agents because they want to buy that specific properties and those listing agents don't reply or return calls to agents, ONLY to the investors without agents! In other words: the investors realized that they are in disadvantage if they have an agent. I don't know in your area and your market, but here in mine, is crazy! is like a race. All the foreclosure listings that only accept cash offers, are targeted for investors and the offers are handled exactly like an auction. So if the investor has a buyer's agent will be in disadvantage because again, these listing agents are also investors at the same time and want to save the commission to the buyer's agent!


We have a huge foreclosure market and that is a large percentage of what I sell. Try this. Don't call the foreclosure listing agents, its a waste of time. Email them. They think you are a newbie if you call them. The foreclosure world lives and dies by email. You will get a much better quicker response by email.

Tip #2 Don't believe anything an investor tells you unless he is your Daddy. Don't make conclusions about an industry based on what some guy tells you. Any cash offer will be considered in a race. The investors are frequently as-is as well as all-cash, and if you present an offer from a buyer with those terms early, you might get an offer accepted. Seller designated attorney, 10% earnest money certified delivered within 48 hours of verbal acceptance to a holder of Seller's choice. Make the offer that they are looking for and you might win. They go with the listing agents because they demonstrate that they understand the rules of the game.


Edited by deepsea (05/30/11 11:04 PM)

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#377517 - 05/31/11 10:08 AM Re: Cold Calling Scripts [Re: heidi k]
Anyelina Offline
Member

Registered: 11/12/10
Posts: 227
Loc: Miami
DeepSea:

THANK YOU!! great tips!

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#377655 - 06/01/11 03:51 PM Re: Cold Calling Scripts [Re: Anyelina]
Bay Area Brian Offline
Veteran Member

Registered: 06/09/07
Posts: 613
Anyelina

You convinced me, you should hang up your license and become a professional FSBO advocate!!!

In the meantime I'll keep doing what I've done for 45 years and keep on collecting checks and clients. You can start a FSBO sign company and a real estate attorney referral service and offer to sell a course to FSBO's on how to do it yourself and occasionally save some money (history, and experience will bear that out no matter what you think).

Oh, wait a minute, the library is full of those books already, wonder why I'm still in business? Could be I never had Anyelina's mindset, or it could be the FSBO's needed my help and appreciated it, and I didn't cost them anything. Gee, I wonder which one it was.

Why do you want to know how to handle objections? Handling an objection is just answering a question, and you already have all the answers, so why not just give the prospects your answers, it's easy to do if it's really what you believe. And of course you wouldn't want to impose yourself on any FSBO, or anyone else, when they could easily just do it themselves without your interference and earn a commission themselves.

One last thought for your education. Follow every sold fsbo, and about a year down the road, use the advantage of hindsight and see how well they actually did in the money department vs listed. If you can find them somewhere, there were two studies done in California regarding FSBO's, one in 1964 and one in the late 30s and the results held up to scrutiny in the following decades. I was curious and spot checked contemporary results. Last spot check was 2004. Never intend to do it again, too much work and I'm too old.

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#377690 - 06/01/11 09:11 PM Re: Cold Calling Scripts [Re: Bay Area Brian]
Anyelina Offline
Member

Registered: 11/12/10
Posts: 227
Loc: Miami
Originally Posted By: Bay Area Brian
Anyelina

You convinced me, you should hang up your license and become a professional FSBO advocate!!!

In the meantime I'll keep doing what I've done for 45 years and keep on collecting checks and clients. You can start a FSBO sign company and a real estate attorney referral service and offer to sell a course to FSBO's on how to do it yourself and occasionally save some money (history, and experience will bear that out no matter what you think).

Oh, wait a minute, the library is full of those books already, wonder why I'm still in business? Could be I never had Anyelina's mindset, or it could be the FSBO's needed my help and appreciated it, and I didn't cost them anything. Gee, I wonder which one it was.

Why do you want to know how to handle objections? Handling an objection is just answering a question, and you already have all the answers, so why not just give the prospects your answers, it's easy to do if it's really what you believe. And of course you wouldn't want to impose yourself on any FSBO, or anyone else, when they could easily just do it themselves without your interference and earn a commission themselves.

One last thought for your education. Follow every sold fsbo, and about a year down the road, use the advantage of hindsight and see how well they actually did in the money department vs listed. If you can find them somewhere, there were two studies done in California regarding FSBO's, one in 1964 and one in the late 30s and the results held up to scrutiny in the following decades. I was curious and spot checked contemporary results. Last spot check was 2004. Never intend to do it again, too much work and I'm too old.


Your sarcasm in this last comment is ridiculous. It just shows that you couldn't handle the objections I answered to you and now you just react by being sarcastic and offensive.

Originally Posted By: Bay Area Brian
Why do you want to know how to handle objections? Handling an objection is just answering a question, and you already have all the answers


Just answering a question? so where are your answers to my last objections I said to you?

And NO, I DO NOT HAVE ALL THE ANSWERS, that's why I'm in this thread trying to act like the toughest FSBO and see how an expert like you, that have been 45 years in this, handle these kind of objections. But it seems you don't know and now you only brag about yourself saying sarcastic statements like the last one.

If you have been doing this for 45 years, then WHY YOU DON'T SHOW US HOW TO HANDLE A FSBO LIKE THIS ONE and give solid answers to these specific objections? please enlighten us with your knowledge of 45 years!


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#377692 - 06/01/11 09:30 PM Re: Cold Calling Scripts [Re: Anyelina]
NJCanuck Offline
Member

Registered: 04/01/11
Posts: 263
Loc: GTA, Ontario
Anyelina, I think the agents here showed you how to handle an FSBO like the one you're describing - walk away... you need to know when to cut your losses (this doesn't just apply to real estate)... why do you want to work with a hypothetical someone who (based on your description) would be very hostile to you, your chosen profession and your skills? If you do that, you are setting yourself up for disappointment, and this will be a self-fulfilling prophecy for you were people are out to get you...

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#377710 - 06/02/11 12:24 AM Re: Cold Calling Scripts [Re: NJCanuck]
Anyelina Offline
Member

Registered: 11/12/10
Posts: 227
Loc: Miami
Originally Posted By: NJCanuck
Anyelina, I think the agents here showed you how to handle an FSBO like the one you're describing - walk away... you need to know when to cut your losses (this doesn't just apply to real estate)... why do you want to work with a hypothetical someone who (based on your description) would be very hostile to you, your chosen profession and your skills? If you do that, you are setting yourself up for disappointment, and this will be a self-fulfilling prophecy for you were people are out to get you...


Yes, the answer is "next" or "walk away". I got it long time ago. In reality is better not dealing with this FSBO. I got it!

However, can anyone answer these objections anyways? without bragging or being sarcastic? all of you, that have so much of experience, what would you answer to these specific objections? some have given good answers: not dealing with buyers and agents, for example. That's a good one. How I have exposed in my objections regarding marketing, regarding price and comps, regarding flat fee listing, what can you say about that?

Probably this FSBO is "hostile" or however you want to call it, but what I really want to know are the answers, not if its worth to deal with this FSBO or not!

Someone has the answers? regardless if in reality you walk away from this FSBO?






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