Virginia Beach Home Loans: How FSBO's can make you a fortune!

How FSBO's can make you a fortune!

 

 I never really got the point of marketing to FSBO's until recently. I know that it makes great sense for Realtors and real estate sales people to market to FSBO's, but why would a mortgage pro do such a thing?

After hours of brainstorming last night I think that I have come up with a good reason to market the FSBO arena.

For me the properties are an integral part of my buyer lead generation efforts. As Chris Bates says "use the homes to do more loans". I am finding this to be true; the more buyer prospects that I am able to generate the more business I create for myself and the more referrals I am able to give to my Realtor partners.

I decided to hammer FSBO's because they want to sell their home and they do not want to pay a commission to a Realtor. Most FSBO's are happy and sometimes even eager to hear from me. While working with FSBO's to help get their properties sold I am also building rapport with them.

Most FSBO's do end up listing with a Realtor. Since I have an inside track with many FSBO's I can easily make a referral if and when the FSBO decides to list. The other piece that makes this such a nice niche to market is that the buyer clients that I am bringing in are sometimes in need of an agent. Also FSBO's often times need a loan once they get their property sold.

There are many advantages to marketing the FSBO arena, and these are just a couple.

 

Christopher Ohlsen

37 Boynton Ave

(845) 243-5293 (Office)

(518) 565-0799 (Cell)

www.plattsburghmortgage.net

chris.ohlsen@guaranteedrate.com

 

 

Comment balloon 9 commentsChristopher Ohlsen • February 13 2008 01:07PM

Comments

Ross Quintana - Spokane Homes Expert I do a lot of work with FSBO's and as with almost any practise of getting in front of people buying and selling, it is going to benefit you. They have buyers who may not buy because they are not approved for a loan and don't have a realtor pushing them to get qualified.

Ross Quintana - Real Estate Spokane

www.TeamQuintana.com

Posted by Ross Quintana, Real E Smarter Real Estate Coach - 509-362-1966 (Real E Smarter) over 9 years ago

I was stuck on this question and I would really like to market to FSBO.

Thanks For The Info.

Posted by Whitney Yasso (Sliva Captial) over 9 years ago

Offer them some sort of call capture. you will be able to track who calls. Offer to pre qualify the caller. If they are out front calling they have an interest. Or a neighbor

Posted by Sharon Harris, Realtor (Keller Williams Keystone Realty) over 9 years ago

Christopher

It is nice when the light goes off in your head and you realize what an advantage FSBO marketing really is!

Posted by Gary J. Rocks (Juba Team Realty) over 9 years ago

Good luck with that Chris,

Marketing to FSBO's is a great way to get your name out there.  You didnt mention the fact that the prospective buyers that you qualify for the seller can become your clients even if they decide not to buy your sellers home.

Posted by Charles Dismuke, Palm Springs Mortgage Guy (Amerifund Lending Group) over 9 years ago

Chris,

 This is a great idea in this market.....are you using any sort of call capture number, if so any luck with that?

Posted by Bryan Flynn, Central Mass and Worcester Mortgages (Regency Mortgage Corporation) over 9 years ago
I am concentrating on the hand-written note cards.  I then follow up with my monthly newsletter.
Posted by Latonia Parks, Certified Military Relocation Expert (Top Bragg Realty, Fayetteville NC, Home of the 82d ABN DIV) over 9 years ago

Chris,

I have never considered until I had a seminar a week ago and now I am ready to take the FSBO's on....I am working on some mailings and looking for their open houses until I prepare my script for the call.

Posted by Daniel J. Brudnok, REALTOR, SRES, e-PRO,ABR,GREEN,CSP (Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License Number #RS225179L ) over 9 years ago

I had been away for a while, sick with Lyme Disease, but did not know what was making me ill until July last year. I got treated, returned to health, and am back to work in the mortgage business.

I see that there were a few comments here that I missed, so while they are dated I am going to reply anyway because this is still an important part of my overall marketing strategy.

Ross - I agree with you 100%. Aside from that fact, if there are several potential buyers, only one person can buy the home. The other buyers involved are going to be looking for another home and possibly a mortgage.

Sharon - That is a great idea and something that I currently do. I use Text Message marketing and use Google Voice as a caapture box to collect inbound call/leads.

Gary - Absolutely, it is a valuable piece of the puzzle that does generate another large segment of business.

Charles - You're right about that. If I generate 5 buyers for one listing the other 4 that don't get that home often times still need financing for the home that they do ultimately buy.

Bryan - yes, I used Google Voice back then and still do. I also now use Twilio for text message capture.

Latonia - I think that is a great idea. Handwritten notes, while somewhat time consuming, do add a nice personal touch. I haven't done a lot of this but I have mulled over the idea and may give it a try.

Dan - It worked back in 2008 when I wrote the post and still does today. FSBO's are usually trying to save some money on the commission and offering them some free advertisement for their listing is very effective. Still, Realtor's typically get more for the listing and FSBO's more often than not end up listing with a realtor in the end.

 

Thank you all for your comments!

 

Posted by Christopher Ohlsen (Credit Werx, LLC.) almost 3 years ago

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