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crloan999
74 Posts |
 Posted - 08/07/2008 : 1:03:40 PM
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Does anyone have a great FSBO letter to mail out to these clients.
Thank you |
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blake1952
309 Posts |
Posted - 08/14/2008 : 11:15:59 AM
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| No, and I have tried all kinds of things for FSBOs. So many post cards and letters come back as vacant! |
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crloan999
74 Posts |
Posted - 08/14/2008 : 1:54:08 PM
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| I have sent out over 300 letters on Monday and I have had 3 replies already on help with marketing. It seems to be working ok. |
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PHELoanOfficer
90 Posts |
Posted - 08/27/2008 : 8:11:26 PM
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| crloan999 would you care to email me the FSBO letter you used? Thanks |
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averagejoelo
453 Posts |
Posted - 08/28/2008 : 03:58:32 AM
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When mailing to fsbo prospects, you have to keep somehting in mind:
1 - They are over-marketed to (You can use this to your advantage though)
2 - Everyone is beginning to look and sound alike
3 - Don't tell them what they cannot do! (Many lo's and realtors send near insulting letters, and this simply fuels their resolve to "show you")
4 - Don't have just 1 letter or card sent, it MUST be part of a series, or else you're selling yourself short
Actually have an audio and video I'll be adding to www.fsboleadportal.com/blog that talks about mailers, I'll post the link when the audio hits - good information. The FSBO market is hot right now, it's great to see some loan officers taking advantage of this.
CW - www.fsboleadportal.com/blog
quote:
Originally posted by PHELoanOfficer
crloan999 would you care to email me the FSBO letter you used? Thanks
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eric_veronica
192 Posts |
Posted - 10/20/2008 : 3:17:47 PM
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| Has anyone ever had any success marketing to FSBOs. I have tried numerous marketing to FSBO. I found it to be a tragic waste of time. Even the sellers who wanted your help ended up ultimately going with a realtor anyways |
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averagejoelo
453 Posts |
Posted - 10/21/2008 : 03:56:09 AM
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Both myself and my loan officers used fsbo as one of our pillars of business for many years. Worked beautifully. But you do need to formulate your plan first:
- If you know they are ultimately going to list with a realtor, then why not be prepared with a few preferred agents you can funnel those prospects to? Some of the legwork can be handled by the agents, plus you now have a great referral partnership in the works
- You CANNOT dance for free here. Only commit to doing work that is mutually beneficial, or else you will waste your time.
- Stay away from yard signs and the like... Localized traffic is peanuts compared to what you could be getting if you expand your horizons a bit and use the property as bait on a national level to draw in interested buyers
- Have a credibility builder prepared. These fsbo's are SMOTHERED with marketing messages, and 99% of it is "me too" copy cat material. Nothing is unique, and nothing offers PROOF of expertise. This is why I had a website I sent the fsbo's to that demonstrated my expertise and specialty.
Hope this gives you some ideas. The fsbo market is great, but you need to be strategic in your approach.
CW - www..fsboleadportal.com - www.loanofficermarketinglab.com
quote:
Originally posted by eric_veronica
Has anyone ever had any success marketing to FSBOs. I have tried numerous marketing to FSBO. I found it to be a tragic waste of time. Even the sellers who wanted your help ended up ultimately going with a realtor anyways
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twincse
4 Posts |
Posted - 10/21/2008 : 3:36:34 PM
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quote:
Originally posted by averagejoelo
Both myself and my loan officers used fsbo as one of our pillars of business for many years. Worked beautifully. But you do need to formulate your plan first:
- If you know they are ultimately going to list with a realtor, then why not be prepared with a few preferred agents you can funnel those prospects to? Some of the legwork can be handled by the agents, plus you now have a great referral partnership in the works
- You CANNOT dance for free here. Only commit to doing work that is mutually beneficial, or else you will waste your time.
- Stay away from yard signs and the like... Localized traffic is peanuts compared to what you could be getting if you expand your horizons a bit and use the property as bait on a national level to draw in interested buyers
- Have a credibility builder prepared. These fsbo's are SMOTHERED with marketing messages, and 99% of it is "me too" copy cat material. Nothing is unique, and nothing offers PROOF of expertise. This is why I had a website I sent the fsbo's to that demonstrated my expertise and specialty.
Hope this gives you some ideas. The fsbo market is great, but you need to be strategic in your approach.
CW - www..fsboleadportal.com - www.loanofficermarketinglab.com
quote:
Originally posted by eric_veronica
Has anyone ever had any success marketing to FSBOs. I have tried numerous marketing to FSBO. I found it to be a tragic waste of time. Even the sellers who wanted your help ended up ultimately going with a realtor anyways
Hey Chad, here is my million dollar question: how do you monetize your FSBO program? Everything I read about FSBO's talks about yard signs, call capture, and pre-qualifying potential buyers for the FSBO. I would love to nationalize my bait and avoid the local traffic generated by local signage, etc. Just not sure HOW to effectively take that step?
Can you supply us with some HOW in addition to the WHAT? Thanks in advance. Tom |
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averagejoelo
453 Posts |
Posted - 10/22/2008 : 04:42:40 AM
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I recommend heading over to www.fsboleadportal.com/blog --- Dig through to the older posts, and watch the videos. Gives you all the "how" you could hope for. :)
CW -
quote:
Originally posted by twincse
quote:
Originally posted by averagejoelo
Both myself and my loan officers used fsbo as one of our pillars of business for many years. Worked beautifully. But you do need to formulate your plan first:
- If you know they are ultimately going to list with a realtor, then why not be prepared with a few preferred agents you can funnel those prospects to? Some of the legwork can be handled by the agents, plus you now have a great referral partnership in the works
- You CANNOT dance for free here. Only commit to doing work that is mutually beneficial, or else you will waste your time.
- Stay away from yard signs and the like... Localized traffic is peanuts compared to what you could be getting if you expand your horizons a bit and use the property as bait on a national level to draw in interested buyers
- Have a credibility builder prepared. These fsbo's are SMOTHERED with marketing messages, and 99% of it is "me too" copy cat material. Nothing is unique, and nothing offers PROOF of expertise. This is why I had a website I sent the fsbo's to that demonstrated my expertise and specialty.
Hope this gives you some ideas. The fsbo market is great, but you need to be strategic in your approach.
CW - www..fsboleadportal.com - www.loanofficermarketinglab.com
quote:
Originally posted by eric_veronica
Has anyone ever had any success marketing to FSBOs. I have tried numerous marketing to FSBO. I found it to be a tragic waste of time. Even the sellers who wanted your help ended up ultimately going with a realtor anyways
Hey Chad, here is my million dollar question: how do you monetize your FSBO program? Everything I read about FSBO's talks about yard signs, call capture, and pre-qualifying potential buyers for the FSBO. I would love to nationalize my bait and avoid the local traffic generated by local signage, etc. Just not sure HOW to effectively take that step?
Can you supply us with some HOW in addition to the WHAT? Thanks in advance. Tom
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marketsvcs
50 Posts |
Posted - 10/24/2008 : 3:48:33 PM
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quote:
Originally posted by crloan999
Does anyone have a great FSBO letter to mail out to these clients.
Thank you
I guess the answer to your question is NO! Many comments about letters, fsbo portals and the such, but no freaking LETTER posted on this thread!
Is everyone brain dead? |
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averagejoelo
453 Posts |
Posted - 10/27/2008 : 04:18:14 AM
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marketsvcs - What a terrible post that flies in the face of the nature of this board. Getting angry and insulting people because he didn't get what he wanted? So let me get this straight:
Step 1 -- Look for help
Step 2 -- Insult people when you don't find what you're looking for
How classy of you. Yes, I know you're not the one who made the post, but that sure didn't stop you from coming to this thread and insulting the posters. Funny how some loan officers feel as if others OWE them a business model or marketing solution.
If you're so frustrated marketsvcs, then do your own copywriting, graphic design, market testing, A/B split, and follow-up. Because that's what you're asking others to send you the result of; their own hard work. Since you didn't contribute a letter, does this in turn qualify you as "brain dead" as well? Seems to be what your comment suggests if we draw it to the natural conclusion of your statement...
Ok, on to other things:
twincse:
Stay away from yard signs. Most areas consider this practicing real estate without a license. I've seen many loan officers get in trouble for this, yet the "guru's" still push it... It's not worth it.
You want your campaign to be 360 degrees. Sellers, buyers, realtors. They all fit together in 1 self-feeding scenario. The sellers want buyer, and the realtors want buyers. Most sellers will give up, and they end up in the hands of realtors, who in turn, use the property to generate more buyers... It's a beautiful scenario.
That is how I monetized my program. Through a combination of online efforts and networking with the local agents/buyers. Here's an idea for you.
Why not set up an appointment with a few local realtors to discuss how to launch a new mutually beneficial fsbo campaign? It can be a brainstorming session. It's amazing what can be accomplished when you get several individuals together toward the same goal.
My suggestions:
1 - Create an offer to the FSBO sellers - this will be your bait - Needs to have value, and needs to be unique. No signs, but rather a combination of online marketing and viral marketing strategies would work best here.
2 - Create an online presence that demonstrates your offer, or your expertise. A landing page, lead capture mechanisms, and a video and audio clip would be ideal - You should be using the phone to reach your fsbo sellers, not the mail. (Mailings are passive, supplements, not the primary driving force)
3 - You WILL need call capture. This is a tool that everyone needs. (Twice monthly teleconferences are a huge hit for teaching sellers and buyers what they need to know... Just a tip...)
4 - Automate your delivery
5 - Follow-up tools must be in place. A drip email campaign is a must here. Touch the fsbo sellers once every 7 days, and touch the potential buyers twice each month. VALUE added info here is a must. No pushy sales speak.
6 - Follow up with ALL buyers, whether they dial through to talk live or not. When calling back, you are NOT there to push for a loan app. Huge mistake that will result in much lower conversions. Rather, call back to have a conversation, and build rapport, and capture email addresses (Plus permission to send)
There you have it Tom. Just a few quick tips for getting ot of the "traditional" flavor of marketing to fsbo. Have a great week.
CW - http://www.fsboleadportal.com -
quote:
Originally posted by twincse
quote:
Originally posted by averagejoelo
Both myself and my loan officers used fsbo as one of our pillars of business for many years. Worked beautifully. But you do need to formulate your plan first:
- If you know they are ultimately going to list with a realtor, then why not be prepared with a few preferred agents you can funnel those prospects to? Some of the legwork can be handled by the agents, plus you now have a great referral partnership in the works
- You CANNOT dance for free here. Only commit to doing work that is mutually beneficial, or else you will waste your time.
- Stay away from yard signs and the like... Localized traffic is peanuts compared to what you could be getting if you expand your horizons a bit and use the property as bait on a national level to draw in interested buyers
- Have a credibility builder prepared. These fsbo's are SMOTHERED with marketing messages, and 99% of it is "me too" copy cat material. Nothing is unique, and nothing offers PROOF of expertise. This is why I had a website I sent the fsbo's to that demonstrated my expertise and specialty.
Hope this gives you some ideas. The fsbo market is great, but you need to be strategic in your approach.
CW - www..fsboleadportal.com - www.loanofficermarketinglab.com
quote:
Originally posted by eric_veronica
Has anyone ever had any success marketing to FSBOs. I have tried numerous marketing to FSBO. I found it to be a tragic waste of time. Even the sellers who wanted your help ended up ultimately going with a realtor anyways
Hey Chad, here is my million dollar question: how do you monetize your FSBO program? Everything I read about FSBO's talks about yard signs, call capture, and pre-qualifying potential buyers for the FSBO. I would love to nationalize my bait and avoid the local traffic generated by local signage, etc. Just not sure HOW to effectively take that step?
Can you supply us with some HOW in addition to the WHAT? Thanks in advance. Tom
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twincse
4 Posts |
Posted - 10/27/2008 : 06:34:15 AM
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Good morning Chad. Thank you very for your "how" packed reply
Yard signs would be a viable option for me because we recently opened a RE company to complement our Mortgage Company.
I also have a membership in a company that creates single property web sites for home sellers. I ahve been using this tool to create relationships with Realtors and I am considering utilizing this another tool that I can provide to FSBO sellers to increase their exposure and hopefully trigger the reciprocity and authority figure emotions. |
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averagejoelo
453 Posts |
Posted - 10/27/2008 : 06:56:55 AM
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No problem. You are in a unique situation then having the dual mortgage and RE company setup, so it sounds like signs are a viable option. However, just to cover and protect yourself, I'd place a quick call to the local AR and county to make sure there are no stipulations on signage, as even realtors can get sued for "practicing real estate without a contract" when working with FSBO if not careful. Don't want to give them ANY excuse to chase you down right? :)
With the packaged websites to give to the FSBO sellers, make sure that you get some sort of commitment from the seltake action. The prize is not always the seller, but often the potential buyers. Mini-websites are an ok tool to lure them in, but you need to find your spin on how you're going to get the site traffic. Once you have your traffic source dialed in, thats when things get fun! :)
CW - www.fsboleadportal.com - www.loanofficermarketinglab.com
quote:
Originally posted by twincse
Good morning Chad. Thank you very for your "how" packed reply
Yard signs would be a viable option for me because we recently opened a RE company to complement our Mortgage Company.
I also have a membership in a company that creates single property web sites for home sellers. I ahve been using this tool to create relationships with Realtors and I am considering utilizing this another tool that I can provide to FSBO sellers to increase their exposure and hopefully trigger the reciprocity and authority figure emotions.
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marketsvcs
50 Posts |
Posted - 10/27/2008 : 5:34:32 PM
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not angry, just making an observation!
The guy asked for a simple sample of a letter prospecting fsbos...
did he get???
anyone??
awfully quiet out there! |
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marketsvcs
50 Posts |
Posted - 10/27/2008 : 5:40:40 PM
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go see a local fsbo for fee web site, has the local market
anyone can do this with macromedia dreamweaver
www.fsbobr.com |
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abrodetsky
80 Posts |
Posted - 10/29/2008 : 5:49:30 PM
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There will be a seminar that everybody and anybody invloved in the loan modification and short sale business MUST attend. We will be discussing:
Violations & Penalties assessed against a broker without an approved advanced fee agreement
Legal Ramifications & Elements of an Advanced fee agreement
Lear how to get your advanced fee agreement approved by the DRE
Under what circumstances would your client need a loan modification?
Helpful underwriting tips to qualify your loan modification clientelle
Broker's Guide to understanding basic Trust Accounts
Discussion of outsourcing your loan modifications to a DRE approved Broker
Synopsis of recent legislation passed by Congress
Under what circumstances would you want to audit your Client's loan files?
Self-auditing tips any Broker can use on their client loan files
Broker's Guide to understanding Truth in Lending and RESPA
Discussion of Attorney outsourcing service for loan audits (and the AFA crossover)
RESPA Section 6 (Tips and tricks in making a Qualified Written Request)
Truth in Lending Legal Update
and More
See www.loanmodseminar.com for details
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U812
390 Posts |
Posted - 10/29/2008 : 7:19:48 PM
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quote:
Originally posted by abrodetsky
There will be a seminar that everybody and anybody invloved in the loan modification and short sale business MUST attend. We will be discussing:
Violations & Penalties assessed against a broker without an approved advanced fee agreement
Legal Ramifications & Elements of an Advanced fee agreement
Lear how to get your advanced fee agreement approved by the DRE
Under what circumstances would your client need a loan modification?
Helpful underwriting tips to qualify your loan modification clientelle
Broker's Guide to understanding basic Trust Accounts
Discussion of outsourcing your loan modifications to a DRE approved Broker
Synopsis of recent legislation passed by Congress
Under what circumstances would you want to audit your Client's loan files?
Self-auditing tips any Broker can use on their client loan files
Broker's Guide to understanding Truth in Lending and RESPA
Discussion of Attorney outsourcing service for loan audits (and the AFA crossover)
RESPA Section 6 (Tips and tricks in making a Qualified Written Request)
Truth in Lending Legal Update
and More
See www.loanmodseminar.com for details
I'm sorry, I thought this post was about aquiring a FSBO letter.
If your going to push this stuff, at least have the decency to post it in a thread with relevant content..... |
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velecico
3991 Posts |
Posted - 11/03/2008 : 1:33:29 PM
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quote:
Originally posted by twincse
Good morning Chad. Thank you very for your "how" packed reply
Yard signs would be a viable option for me because we recently opened a RE company to complement our Mortgage Company.
I also have a membership in a company that creates single property web sites for home sellers. I ahve been using this tool to create relationships with Realtors and I am considering utilizing this another tool that I can provide to FSBO sellers to increase their exposure and hopefully trigger the reciprocity and authority figure emotions.
How will you get business from other realtors if you own a RE company or even another mortgage company would not give your RE office a lead , they are really not complementing each other , you just dont realize it yet |
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KellyVanguardNM
509 Posts |
Posted - 11/04/2008 : 09:37:59 AM
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| I just mail a FSBO package; included a flyer of their property with several scenarios for pricing. I give them examples of what I can do for them at no or little cost. I have about a 99% success rate with FSBO contacts. I generate good leads from FSBO open houses. And when the owner gets tired, I turn the listing over to a competent Realtor who is very appreciative and reciprocates. |
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marketsvcs
50 Posts |
Posted - 11/20/2008 : 7:16:30 PM
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quote:
Originally posted by KellyVanguardNM
I just mail a FSBO package; included a flyer of their property with several scenarios for pricing. I give them examples of what I can do for them at no or little cost. I have about a 99% success rate with FSBO contacts. I generate good leads from FSBO open houses. And when the owner gets tired, I turn the listing over to a competent Realtor who is very appreciative and reciprocates.
care to share that fsbo package?? |
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