FSBO Marketing Puts Your Foot in the Door With Agents
by Erik Baty, president, FSBO3k.com
As interest rates rise, competition for purchase loans also rises. Fewer borrowers want to refinance while rates are high so many Loan Officers look to the oft neglected purchase business to sustain their production level. Referrals from Real Estate Agents are what most Loan Officers want, but few know how to get them.
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The hardest part about building and maintaining a professional relationship with a producing Real Estate Agent is getting one’s foot in the door. Once you have an in, you can show the Agent you are good at what you do and you will take care of their buyers. However, with a thousand other Loan Officers knocking down the Agent’s door, how are you supposed to differentiate yourself from the crowd?
For Sale By Owner (FSBO) marketing is the key that unlocks the Agent’s door. What makes FSBO marketing so great is that it gives you a chance to get to know buyers and sellers on your own, who will often decide they want to work with an Agent. When that time comes, you can make the referral to the Agent you are trying to impress. Nothing says “I mean business” more than business itself.
Real Estate Agents are marketers, just like Loan Officers, and if you present a plan that will increase their bottom line they are more apt to listen than if you want to bring doughnuts or bagels over and simply increase their bottom in size. If a thousand others are preaching “great rates” and “best service” while you preach “more commissions” in addition, who do you think the Agent is most likely to open their door to? That’s right - to you.
Take advantage of the power inherent in FSBO marketing to get your foot in the door with new Real Estate Agents, and earn your own purchase leads and Agent referrals.
©2005, Erik Baty. All rights reserved. Erik Baty is the founder of FSBO3k.com, one of the leading for-sale-by-owner websites in the U.S. FSBO3k.com’s tailor-made mortgage marketing system helps FSBO sellers work with Loan Officers to pre-qualify buyers. Learn more at FSBO3k.com.