One of the best ways to generate mortgage leads is by working with home sellers.
they are going to do it alone as for sale by owner or FSBO.
The key to FSBO marketing is creating partnerships with home sellers. From almost
every buyer needs a mortgage, you provide them with a necessary service that will allow them
a seller’s house to be sold. Real estate agents often refer buyers for loans
officers during the home sale process, but with FSBOs there is no agent. That
means that the seller takes on the role of recommending buyers to loan officers and that
Where are you coming by
Most sellers are not very familiar with the real estate sales process and will not know that they should require interested buyers to be prequalified before accepting an offer. Helping sellers understand that you can save them a lot of time by prequalifying your potential buyers is a real gold mine. You can also prepare a brochure on a variety of types of loans and mortgage payments on that seller’s home. FSBOs want to sell your house and therefore will give your business card to everyone who comes by. That means new mortgage opportunities for you, whether it’s for this property or another.
The most effective way to secure relationships with sellers for sale by owner
is to offer more than prequalification services. FSBOs need marketing help like
a free listing on a website for sale by owner and promotion to buyer’s lists. They too
need model contracts and disclosures, industry contacts such as title companies
and appraisers, yard signs, and even house brochures. These elements can be grouped
in a “kit for sale by owner”, which can be offered to sellers in exchange
for an opportunity to pre-qualify all buyers who show interest in the home.
You can use a variety of sources to locate FSBOs in your area, including:
- Local newspapers
- Garden signs
- Paid service that flies through websites and newspapers every day.
Some of the popular methods of contacting FSBO sellers are:
- Telephone
- Direct mail
- Door hangers
- Web links
Most FSBO sellers will be very excited about the services you can offer and will be happy to refer buyers to you. In addition, the sellers themselves will most likely need a loan to buy their next home, and having established a trusting professional relationship with them, you will put yourself in an excellent position to provide that loan. That’s another mortgage clue.
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