How To Get FSBOs To Call You
Keywords: Mortgage, Mortgage Professional, Loan Officer, Mortgage Broker
Are you actively pursuing the FSBOs in your marketing area? You should be…because you’ll generate a never ending supply of inexpensive purchase mortgage leads if done correctly.
Here’s a really great tool to add to your marketing bag of tricks: “Hold a conference call for FSBOs.” This idea can be used in other niche marketing areas as well…but, for now, let’s concentrate on FSBOs.
Here’s how it would work:
Set-up an account with a company that provides conference call capability. Check-out your local telephone company and compare rates and features to get the best deal.
You should look for the following features:
1. Dedicated phone number for your use.
2. Instructions on how to set-up the call.
3. Caller ID so you have a record of everyone that participated in the call.
4. No contract, no set-up fees, no minimums, no cancellation fees, no per conference fee.
5. Muting capability.
6. Permanent toll free number and pass code.
Pick a convenient date and time for your conference call and promote it. Create flyers letting FSBOs and potential FSBO know the date and time of your call.
Advertise your call as a “FREE For Sale By Owner Conference Call” and try to set a scheduled time for the calls such as: The 1st or 15th every month, or every Wednesday evening…at 7:30PM.
Post your conference call information in Laundromats, home improvement centers and, any and all bulletin boards you can find. Deliver flyers or mail flyers about the call to all FSBOs. Advertise your call in a local publication.
Look for FSBOs on-line. There is a growing number of websites FSBOs use to advertise their home. You can specify your city or marketing area within these sites. Many times you’ll find contact information about the FSBO as well as an email address. Use this information to promote your conference call.
Prepare and print hand outs/mail outs for everyone that participates in your call.
It’s your job to talk:
Plan your call and simply carry on a conversation. Thank your callers and let them know they can ask questions at the end of the call. Initially, plan a 30 minute call. You can make them longer as you gain experience
Mention your phone number and possibly your email address in the beginning, middle, and end of your call. Let your callers know you are available for private consultation if they would like to contact you.
Offer FREE advice to the FSBOs that will help them sell their home. A few examples would be:
1. Setting the correct value of their home,
2. Pros and Cons of “Open Houses,”
3. Financing options for their home,
4. Qualifying buyers,
5. 100% financing of their home, and
6. Tips for a successful “Open House.”
There’s plenty to talk about and all of the information is great stuff that FSBOs want to know. Offer your FSBO Manual to anyone that shows a willingness to work with you. If you’re short of material and don’t even have a FSBO Manual check out my FSBO Marketing Kit. There’s so much material that you could have a series of conference calls covering various aspects of the FSBO selling process.
Finally, un-mute and allow for a few questions. If the question is off the topic, ask them to call you direct and you’ll be happy to help. Ask them to call you with their experiences and problems. Keep at it…you’ll build credibility and gain their confidence
You could invite guest speakers such as a real estate attorney, appraiser, home inspector, home warranty representative, Realtor/Agent, or whatever. Many of these people would even pay for this opportunity and cover some of your costs of the conference call.
If you let your mind wander a little, you could organize a conference call for investors, home buyers, re-financing in today’s market, and many other topics and niches.
Now…why does this idea work so well with FSBOs and other topics?
1. It’s FREE to the caller,
2. its comfortable…they don’t have to attend a meeting,
3. It’s convenient,
4. They can attend from any touch-tone-phone,
5. It’s non-confrontational,
6. They can join the call and leave at any time, and
7. It’s low-key and anonymous,
What’s even better, you don’t even need an office to do this; it can be done in the comfort of your own home. And best of all…nobody knows if there are ten people on the call…or one!
Personally, I think this is a much better idea than organizing a seminar. Now I don’t have to worry that too many, or worse yet, too few people are attending. Plus…my actual cost is a factor of the number of callers and the length of the call.
Now…I’ve done a little searching and comparing and I was impressed by “Budget Conferencing.”
They provide a “call calculator” so you can estimate the cost of the call before hand. As a reminder you are getting a Toll Free Number assigned to you.
Using their calculator, I entered in 10 participants, a 45 minute call (allows for questions), and 2 calls per month. My cost was $54.00 per call. Sprint would charge $198, MCI $211, and ATT $238 per call for the same (or even less) service.
WOW…I think that’s a great price. Especially since there’s no contract…you can afford to try it out and see how it produces for you.
A few words about this kind of marketing…this is low key and “I’m available to help” type of marketing. You’ll win over your FSBOs by providing valuable information and assistance they need to sell their home and save money.
This is niche marketing at its very best. Don’t expect results over night. As you continue to work with FSBOs and others, you will be looked upon as an expert in this field and more and more home owners will seek you out.
Tom Domin is the author of “101 Ways to Originate Mortgages” and publisher of “Tom’s Mortgage Tips” a twice monthly Mortgage Newsletter geared for Mortgage Professionals. Put your mortgage career on the fast track and sign-up for FREE at www.MortgageMarketingToolKit.com
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