Fsbo_expired Leads Calling Quiz

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| By Teresa Glenn
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Teresa Glenn
Community Contributor
Quizzes Created: 1 | Total Attempts: 129
Questions: 12 | Attempts: 129

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Fsbo_expired Leads Calling Quiz - Quiz

The purpose of this quiz is to test your knowledge of FSBO and Expired lead calling.


Questions and Answers
  • 1. 

    FSBO/Expired team meetings are permanently set on Monday weekly?

    • A.

      True

    • B.

      False

    Correct Answer
    A. True
    Explanation
    The FSBO/Expired meetings use to be bi-weekly, now they are weekly on Mondays at 4:00PM EST.

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  • 2. 

    If a FSBO lead tells the caller that they sold the property, what should be the next steps that the caller takes? (Check all that applies.)

    • A.

      Thank the lead for their time and immediately hang up without saying another word.

    • B.

      Ask the lead whether they sold the property on their own or used another agent.

    • C.

      Ask the lead if they were able to get asking price.

    • D.

      Tell the lead your agent could have gotten them more money.

    • E.

      None of the above

    Correct Answer(s)
    B. Ask the lead whether they sold the property on their own or used another agent.
    C. Ask the lead if they were able to get asking price.
    Explanation
    Find out how the house was sold and how much is sold for.

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  • 3. 

    The goal(s) of calling FSBO/Expired leads is/are to _________.

    • A.

      Build rapport with lead

    • B.

      Set appointment for lead and client to meet

    • C.

      Introduce the client's name in the household

    • D.

      All of the above

    Correct Answer
    D. All of the above
    Explanation
    All of the above are very important with calling FSBO/Expired.

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  • 4. 

    If a lead tells the caller that they are going to try and sell their property on their own for 3mos, when should the caller do a call back?

    • A.

      3 months exactly

    • B.

      The day before the 3 months are up

    • C.

      1 ½ months

    • D.

      Don’t do a callback because they probably will sell within that time.

    Correct Answer
    C. 1 ½ months
    Explanation
    The caller should always cut the amount of time the leads gives in half.

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  • 5. 

    What information is not necessary to obtain from lead during your conversation with them?

    • A.

      If the lead is obligated to work with another agent.

    • B.

      How much time before the lead decides he/she is ready to interview agents?

    • C.

      The reason the lead is selling their house.

    • D.

      What is the asking price of the house?

    • E.

      All are important for the client to know.

    Correct Answer
    E. All are important for the client to know.
    Explanation
    Each of these items are key for the client to know about the lead.

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  • 6. 

    Since the caller knows their client has a lot of buyers, it is okay to tell the lead that the client will have the perfect buyer for their property.

    • A.

      True

    • B.

      False

    Correct Answer
    B. False
    Explanation
    The caller is to never make any promises to the lead.

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  • 7. 

    If the caller gets an appointment which would be an ‘A’ lead, he/she should _____:

    • A.

      Email/text or call the client (based on system document)

    • B.

      Send appointment confirmation email to lead and copy client

    • C.

      Enter the ‘A’ lead in the Leads-Clients database

    • D.

      Enter a Goal Action to bill for the Golden Egg

    • E.

      Include it on the Daily Calling Report

    • F.

      A,B,C & E

    • G.

      A,B,D & E

    • H.

      All of the above

    Correct Answer
    F. A,B,C & E
    Explanation
    All actions should be completed, except for billing for the Golden Egg. The caller will need to wait until the appointment is met and then submit an approval email to Teresa G. Once approved they can then bill for the Golden Egg.

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  • 8. 

    If the caller gets an ‘A’ lead for a FSBO lead how should be coded?

    • A.

      FSBO A

    • B.

      Seller A

    • C.

      Either a or b

    • D.

      Neither a or b

    Correct Answer
    A. FSBO A
    Explanation
    FSBO leads should be coded as: FSBO A, B, C, Dead, FSBO Lost - FSBO or FSBO Lost - Agent
    Expired leads should be coded as: Expired A, B, C, Dead, Expired Lost

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  • 9. 

    If the lead is upset, what is the best way to handle the call?

    • A.

      Keep talking, they will want to hear what you have to say.

    • B.

      Apologize for the call and hang up.

    • C.

      Tell them you will only take a few minutes of their time, and go into your scripting.

    • D.

      A & C

    • E.

      All of the above

    Correct Answer
    D. A & C
    Explanation
    FSBO/Expired calling is all about handling objections. An attitude from the lead is basically just another objection. The caller should be polite and keep explaining the purpose of the call.

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  • 10. 

    What is an Expired Lead?

    • A.

      An expired lead is someone who is trying to sell their home themselves.

    • B.

      An expired lead is someone who has tried to sell their home with another agent and for whatever reason, the house didn't sell, or they withdrawn their home from the MLS, or canceled their listing.

    • C.

      An expired lead is someone who is selling their home on the MLS.

    • D.

      All of the above.

    Correct Answer
    B. An expired lead is someone who has tried to sell their home with another agent and for whatever reason, the house didn't sell, or they withdrawn their home from the MLS, or canceled their listing.
    Explanation
    An expired lead refers to someone who has attempted to sell their home with another agent but was unsuccessful in selling it. This could be due to various reasons, such as the house not being sold, the homeowner withdrawing their home from the Multiple Listing Service (MLS), or canceling their listing altogether.

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  • 11. 

    What is an FSBO Lead?

    • A.

      A FSBO lead is someone who is selling their home on the MLS.

    • B.

      B. A FSBO lead is someone who has tried to sell their home with another agent and for whatever reason, the house didn't sell, or they withdrew their home from the MLS, or canceled their listing.

    • C.

      A FSBO lead is someone who is trying to sell their home on their own.

    • D.

      All of the above

    Correct Answer
    C. A FSBO lead is someone who is trying to sell their home on their own.
    Explanation
    The correct answer is "A FSBO lead is someone who is trying to sell their home on their own." This means that the person is not using the services of a real estate agent and is attempting to sell their property independently. The other options mentioned in the question, such as selling on the MLS or previous unsuccessful attempts with an agent, are not necessarily exclusive to FSBO leads.

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  • 12. 

    What does FSBO stand for?

    • A.

      Forgotten Sales By Owner

    • B.

      For Someone By Owner

    • C.

      For Sale By Owner

    • D.

      None of the above

    Correct Answer
    C. For Sale By Owner
    Explanation
    FSBO stands for "For Sale By Owner." This term is commonly used in the real estate industry to indicate that a property is being sold directly by the owner, without the involvement of a real estate agent or broker. This allows the owner to have more control over the sale process and potentially save on commission fees. It is important to note that the other options given, "Forgotten Sales By Owner" and "For Someone By Owner," are not valid explanations for the acronym FSBO.

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