 For
Sale By Owner Marketing Generates Mortgage Leads
One of the
best ways to generate mortgage leads is through working with home
sellers who are going it alone as For Sale By Owner or FSBO.
The key to FSBO marketing is
creating partnerships with home sellers. Since almost every buyer needs
a mortgage, you provide a necessary service that will enable a seller's
home to be sold.
Real estate agents traditionally refer buyers to loan
officers during the home-selling process, but with FSBOs,
there is no agent. That means the seller assumes the role of referring
buyers to loan officers and that's where you come in.
Most sellers are
not very familiar with the process of selling real estate and won't know
that they should require interested buyers to be pre-qualified prior to
accepting an offer. Helping sellers understand that you can save them
oodles of time by pre-qualifying their potential buyers is a literal
gold mine.
You could also prepare a flyer on a
variety of loan types and payments for a mortgage on that seller's
home. FSBOs want to sell their home and, therefore, they will give
your business card to everyone that comes through. That means fresh
mortgage leads for you, whether for this property or another one.
The most effective way to secure relationships with
for-sale-by-owner sellers is to offer more than pre-qualification
services. FSBOs need marketing help like a free ad on a
for-sale-by-owner website and promotion to buyer lists. They also
need sample contracts and disclosures, industry contacts like title
companies and appraisers, yard signs, and even home flyers. These
items can be bundled together into a "for-sale-by-owner kit," which
can be offered to sellers in exchange for the opportunity to
pre-qualify all buyers showing interest in the home.
You can use a variety of sources to locate FSBOs in your area,
including:
- Local Newspapers
- Yard Signs
- Paid service that scours
websites and newspapers every day
Some of the popular methods of
contacting FSBO sellers are:
- Phone
- Direct Mail
- Door Hangers
- Web Links
Most FSBO sellers will be
very enthusiastic about the services you can offer them and will
gladly refer buyers to you. Additionally, the sellers themselves
will most likely need a loan to purchase their next home, and,
having established a professional relationship of trust with them,
you put yourself in a great position to provide that loan. That's
another mortgage lead.
The author is involved in
several online real estate businesses, including
http://www.fsbo3k.com , one of the leading FSBO websit |