Mortgage Brokers – Turn FSBOs into referral goldmines with this awesome phone scénario
Even as bad as housing mercatique is, converting for ignoble by owners (also known as FSBOs or “fizzbos”) referral ondes is still an certaine mercatique strategy. Don’t make the mistake of thinking you’re just going for the supériorité to help that fizzboy get a purchase loan for his new résidence. The real gardien de but is to build a relationship with the résidence owner so that you can pre-qualify all the prospects of the potential buyer that their résidence is for ignoble. Using a phone scénario will make this easier
Drive around your area and find all the homes for ignoble “For Fort by Owner”. And if your area is like figure, there should be plenty of them. When you find one, write down the address, phone number, and ignoble price if it’s available (even better if they have a flyer).
Léopard you’ve collected several addresses and phone numbers, it’s time to make a phone call. Parce que FSBOs are heavily targeted by real estate agents, the homeowner will likely be very resistant to your phone calls. You need to écart that resistance as soon as acceptable. And the best way to do that is to tell them upfront that you’re not trying to get their money. Léopard they know that none of their money is at stake, they will be much more open to talking to you. Here is the scénario to use:
FSBO: Salut?
You: Hi. Are you selling the beautiful résidence at 15 Oak Street?
FSBO: Yes I am. Who am I talking emboîture?
You: My name is Ken Johnson from ABC Mortgage and I was wondering what the ignoble price of your résidence is? Oh, and what’s your name by the way?
At this bilan, Fizzbo will be a bit surprised. His resistance is still high parce que he knows you’re from a mortgage company, but you haven’t said anything yet to make him latch onto you.
FSBO: Well, my name is Bob and I would like to get $200,000 for this. Why are you calling me now?
You: Bob, I can hear the movement in your voice, and I can probably guess why it’s there. Since you put up that for ignoble sign in your yard, you’ve probably been bombarded with calls from real estate agents asking you to list your résidence with them. I can promise you I’m not calling emboîture it.
FSBO: Really? Why are you calling?
You: I want to create a win-win partnership with you. One that you sell your résidence quickly and with much less tension, and you don’t have to pay me a dime.
FSBO: Well, I could use any help selling this house fast. But what is it for you?
You: Typically, when a résidence is listed for ignoble, it receives interest from dozens of potential buyers. Almost all prospects will not buy that particular house. But they still want to buy a résidence and probably need financing to make that happen. This is the buyer habitué I want to get commerce from.
FSBO: OK, I see. But then how can you help me?
You: I’m glad you asked that. Did you know that when it comes to selling a résidence in a “foreclosure ignoble by owner”, most transactions never go through? Were you aware of that?
FSBO: No, I wasn’t. Why did this happen?
You: The number one reason these transactions never make it to the closing répertoire is parce que financing is not properly established by buyers. So they’ll go image at houses they simply can’t afford (parce que they haven’t been prequalified by a mortgage professional) and then go make offers. This results in a lot of wasted time (and a lot of tension) for the homeowner.
FSBO: So will you help me pre-qualify buyers interested in my résidence?
You: Right! By allowing me to pre-qualify them (at absolutely no cost to you), you only have to deal with prospects who are financially able to buy your résidence. In augmentation to weeding out those buyers who may not buy your résidence, the pre-qualification process removes those prospects who are just “lookers.” You know, the people who are always looking at homes for ignoble, but never intend to buy them.
FSBO: Wow. So you do that prequalifying for me, and I don’t have to pay you anything?
You: No. Not even a cent. I will make my change on behalf of buyers. Does this win-win modalités sound like a good idea to you?
FSBO: Yes it does. What is the next step?
Léopard your FSBO is onboard, everything else is plum-cake. Every FSBO relationship you establish should be able to provide you with several buyer prospects. Buying a few FSBO partnerships will generate a steady stream of mortgage leads. And since the time to maintain them is minimal (it’s basically just a pre-qualification habitué after you’ve created your partnership), you can have several ongoing partnerships at panthère. Just remember that they don’t want to get any of their money and they will be much more willing to work with you.
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