Loan Officers Profit by Working with FSBOs

by

I have worked with many loan officers over the years benefit greatly from working directly with FSBO’s.  I have jotted down a few ideas.   

 

First, loan officers offer to prequalify buyers for FSBO home owners.  Loan officers should give each FSBO a call and introduce himself.  Explain that they help home owners by pre-qualifying their buyers.  Loan officers explain to the home owner all of the time and frustration they will save by having their buyers pre-qualified.  The great part about this method is that every buyer who the loan officer pre-qualifies for that home will be a lead for the loan officer whether they buy that home or some other home.   

 

Second, loan officers establish reciprocally beneficial relationships with real estate agents by working with FSBO home owners.  After the loan officer has worked with the home owner for a month or two and the home owner is frustrated because they still have not sold their home, the loan officer can refer that home owner to their preferred agent. 

 

Third, offer the FSBO home owner marketing materials for free, like a yard sign and flyers.  Of course, all of the marketing materials will be co-branded with the home owner’s information and the loan officer’s information. 

 

Fourth, it’s likely that the home owner is selling their home because they are moving into a different home.  Loan officers establish good relationships with the home owner and help them with their mortgage for their new home and refer them to an agent to help them with their search.        

 

Fifth, once you have established a good relationship with the home owner, make her a part of your sphere of influence.  Send her periodic emails, letters, and postcards to be in the forefront of the home owner’s mind when they want to refinance or move.   

Advertisements

Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


%d bloggers like this: