Have you been searching for a new source of leads? In today’s market, when truly qualified prospects seem to be few and far between, you need every reliable source you can get right? Enter the FSBO…
You may have mixed feelings about marketing to FSBO’s for no other reason than most loan officers and real estate agents seem to run into major difficulties. (Despite the fact that this niche seems like the perfect source of endless, and superbly qualified leads)
1 - I call, but I’m always told “I’m not interested”
2 - When I reach the FSBO, I’m told 10 other lenders or real estate agents have already called
3 - The FSBO accepts my help, but offers nothing in return
Any of these complaints sound familiar? The good news is that you don’t have to keep spinning your wheels! These objections are often the symptom of someone using the wrong approach for their market. We are about to show you why you run into these challenges, and better yet, what you can do about it!
Let’s get started.
1 - You sound like…
The most common approach is to solicit the FSBO seller’s business through a phone call. Unfortunately for you, everyone and their friend seems to have decided on this approach as well. This means that by the time you call, the prospect is likely already frustrated and wants nothing to do with you.
So does this mean that you’re doomed to failure? Of course not. See, when picking up the phone to place your prospecting call, you must first give some thought as to how the FSBO will perceive you.
If you make the same offer as everyone else, then why should the FSBO seller treat you any different than everyone else? On a more subtle note, you should also consider the fact that most real estate agents and loan officers that have reached the prospect before you have made a lot of claims without offering anything to build their credibility, or to mask that notorious affliction known as “commission breath.”
That’s right… Most consumers can tell when a sales call has not been well prepared, or when they are being sold to without a solid foundation of trust established. Why not offer the FSBO valuable articles, tools, or even mutually beneficial marketing plans before you start the selling?
Please notice that I said “mutually beneficial” marketing plans. Too many lenders and real estate agents are ready to start working hard to prove themselves to the FSBO without first gaining any sort of commitment. This often leads to a whole lot of work, and a seller that may be taking advantage of your time and energy with no intention to offer a thing in return. What happens then? Burn-out. You can only spin your wheels so much before you suffer from burnout, and then write the campaign off as a failure.
So how exactly can you balance your sales and marketing efforts so that everyone wins? Part 2 of this article will cover this in more detail. Stay tuned.
You may also register to receive all of our FSBO marketing articles and tips at http://www.fsboleadportal.com - The launch is coming!
Chad Weber - www.loanofficermarketinglab.com
