There’s a reason Tom Toole is known as the GOAT at making calls and handling objections.
He showed why on last week’s The Walk Thru when he cold called a property listed for sale by owner—and secured an appointment in six minutes.
Did we mention this happened live during recording just days before Christmas?
Like we said, GOAT.
Below, we break down Tom Toole’s perfect call, where he uses a FSBO script from Tom Ferry, extensive market knowledge, and the power of listening.
Watch the final segment of The Walk Thru to see Tom in action:
Finding FSBO Leads
If you have a dialer like Mojo or Vulcan7®, you can use those services to filter out FSBOs in your market.
Or, like Tom, simply go on Zillow, find properties listed for sale by owner, and use the number provided.
To leave a voicemail or not?
The first two numbers Tom called on the show didn’t answer. When making calls, there’s some debate about whether or not you should leave a voicemail if no one picks up the phone. Some might hear the voicemail and think, “Oh great, another Realtor calling to bother me.”
But, according to Grant Cardone, professionals always leave a voicemail.
It’s as simple as this:
“Hi my name’s Tom, and I’m a local Realtor in [city]. I’m calling about the property you have for sale—I have a few questions. When you get a chance, give me a call back at [phone number].”
If you want to pique curiosity, include a hook:
“I have something for you; when you free up, call me right back.”
The Perfect FSBO Script
The third number Tom dialed did answer—and this is where we saw the magic happen. Let’s break down the script below.
“Hi, my name’s Tom; I’m a local Realtor in [city name], calling about the property you have for sale. Is this the owner?”
This goes without saying, but make sure you speak with the right person when you call. Next, get some information about the property.
“I was calling to get a little more information about the property to see if it’s a fit for anyone we’re working with. If you have a second right now, I want to verify some of the information I saw online.
“It looks like you are asking [listing price], and it’s [square footgage]. Is that correct?”
Here the caller must have said they weren’t sure because Tom went on to explain that in this particular county, properties aren’t always assessed correctly, so the square footage may actually be bigger. He shared his market knowledge with the owner, leaving a seed of doubt about why his property may not have the correct square footage listed.
Next, Tom brought attention to the photos and asked questions about the property based on what he could—and could not—see. Again, this makes the seller question their work, this time leaving a seed of doubt about their marketing.
“I took a look at the photos you have listed here. I couldn’t see a ton of them. It looks like the kitchen is pretty large and may have had some work done. What about the bathrooms? Are there any renovations you’ve done to the home?”
As the owner was speaking, Tom listened. And when done, Tom repeated back what was said while creating some agreement with the owner.
“Absolutely; we have a client on the street, so we know the value of the neighborhood. So, you redid the basement and wanted to leave some things as is for the buyers to make their own decisions. I think that makes a lot of sense given the size of the home because a lot of people will be there for 15-20 years, so that’s the way to go.”
Next, Tom spoke about the pool of buyers his team works with before diving into more questions about the property. Here, he provides some social proof, showing that his team works with many people in the area.
“We’ll run this by the folks we’re working with now. We work with anywhere from 50-100 active buyers that we’re working with. I wanted to get a bit more information, so I can send it to the right folks.
“You mention you are thinking about fixing the place up. What are you thinking about doing?”
After listening, Tom again creates some agreement before asking follow-up questions essential when working with a seller.
“That makes a lot of sense. I’d be careful about putting too much money into the home because you may not get it back.
“Where are you planning on moving to after you sell? It sounds like you have a great property here.”
Now, Tom creates some doubt as he returns to the marketing, continually asking what else the seller is doing to market the home.
“I see you have it listed online; what else are you doing to market the property?
“Ok, you have some signs up; anything else you’re doing to generate traffic right now?”
Next, Tom secures an appointment—and an email. (Always get the email after securing an appointment.)
“Is there a good time one of our team members could come by and see if it’s a good fit for anyone we’re working with? When would be a good time? Is there anything next week?
“We’ll have someone swing by on [day] at [time]. And is there an email address where I can send you all our contact info so you have it?”
Tom ends the call by sharing his local market expertise—and giving the owner something to think about.
“There’s definitely some buyers who could be interested. So we’ll swing by and take a look. We’ll bring some market data we can go over with you, and we’ll take it from there.
“I just wanted to share one thing that makes me nervous that you said earlier—if that’s ok.
“I’d hate to see you put more money into the home; I’m pretty clear you wouldn’t get more out of it. There’s some data out there—it’s called the cost vs. value report—that shows you only get 61% back on the money you spend when you sell a home. I don’t think spending $10K to make $6K would really help.
“So again, I’m [name], I’m with [brokerage]. One of our team members will be by on Tuesday. We’ll see you then.”
You’ll notice some things Tom didn’t do—he didn’t argue and didn’t ask why they were trying to sell on their own. He called to verify information about the property and secure an appointment.
Preparing for the Appointment
After securing an appointment, it’s time to prepare for it.
We’ll come ready for the listing appointment. We’ll build rapport. Everyone forgets that 71% of for sale by owners list within 62 days or less.
To follow up, Tom stated his team will do the following before they show up at the owner’s home:
- Video text immediately after the call to confirm the appointment.
- Send the classic pre-appointment email with your credentials, social proof, and a reminder of the appointment.
At the appointment, Tom and his team will share some market data and the BrightMLS report to show how much FSBOs lose when selling a property themselves. In the Greater Philadelphia area, FSBOs receive about 13% less than those who sell with a Realtor. Be sure to find the data for your market to share with homeowners.
Know Your State Laws and Regulations
As a final note, real estate professionals must stay up to date on the laws and regulations for your market. In Pennsylvania, laws don’t allow for recording calls unless there is consent from both parties. And in some states, you can’t cold call at all.
Be sure you comply with all legal requirements in all of your marketing and lead generation strategies.
The comments from Tom Toole’s FSBO call show that agents are ready to get back to making calls—and want tips and scripts to improve on the phone.
So BAM is delivering! Tom Toole, Byron Lazine, and Danny Deals are doing a live cold calling event. Here are the details:
COLD CALLING EXPIRED LISTINGS
with Tom Toole, Byron Lazine, and Dan Oneil
January 4, 2023
4:00 pm EST