by David Depman

There are way more than 5 ways to market to any group, FSBOs included. Part 1 of this article pointed out some of the pain points that For Sale By Owner properties may face. In this part, we’ll look at 5 ways that loan-officer marketing and mortgage brokers can market to FSBO sellers.

5 ways to Market to FSBO: Loan-Officer Marketing Ideas

1. Reach out – Every FSBO that you can find is a potential lead generator. Try spending a few minutes writing the sellers a hand-written letter to wish them well with the sale of their home. You can also let them know that if they should need any advice or if they want to try a different tact, that you are available to them, include your business card. Don’t sell them anything, just offer encouragement and an open door.

2. Qualify – The majority of FSBO deals fall through because potential buyers can’t get qualified. If a potential buyer does not qualify, it’s a waste of the sellers time and resources (pain point). By offering to pre-qualify all buyers, you will be providing an extremely valuable service and relieving the sellers of a pain point. The offer of free pre-quals will benefit you by getting interested home buyers to come to you. If the potential buyers qualify but don’t buy the initial house that brought them to you, you will still be in a position to work with them and a real-estate partner to help find them the house they want.

3. Follow – Does the listing have any open houses planned? If so, write a quick, hand-written letter (or if you prefer, an email) asking them about how it went. If the event was a success, great, if not, find out why and offer to set up another one. If they have no open houses planned, you could offer to assist in planning it or even arranging some catering, and attend. Again, you can meet potential buyers, pre-qualify them and become a valuable asset.

4. Wait – Watch the listing. If the listing drops in price (and it’s a pretty good bet it will) or it languishes past the average selling time for your area (for homes sold with an agent), get in touch with them to point this out. By reaching out to them, you just might save them from FSBO hell. They may be fed up with the demands and want to turn it over to a real estate-agent anyway, and if you are prepared, you’ll be the partner in mind.

5. Don’t press – The chance to work with an FSBO seller is real, and it has value. However, FSBO sellers can be very suspicious of anyone who is not a potential buyer and they may not readily identify the value proposition. FSBO sellers can be a tough nut to crack. It may take patience and a soft approach rather than the hard sell. As a loan officer, you can clearly demonstrate that you are not interested in payment from them, but that their prospects are also your prospects and by working together, you might just be able to help each other reach their goal.

By connecting with and offering to help FSBO sellers , you’re building a relationship with a seller. This connection will create a pipeline for leads for not only your loans, but also potentially for business real estate partners, home improvement contractors and landscaper/gardeners as well others..

When you come to an FSBO seller with solutions to save time and money, and avoid costly troubles as well, the seller will connect you you with buyers interested in purchasing homes, your target market. Also, the Seller will be looking to buy a home as well, right? Think you could spare the time to help arrange their mortgage too?

Are you marketing to FSBO sellers in your area?