I'll let you answer that question... The more FSBOs you have working...the more leads that are generated each week. Second, this is truly an inexpensive marketing approach. You just won't go for it on the first call or even the second call. There's no cost there. This is solely my opinion. Instead, dazzle them with what they will be getting for free...establish the relationship...gain rapport...then go for the new mortgage. If you're not working with FSBOs...you're missing an opportunity to build and maintain a continuous lead and referral machine. Let's preface this by saying, I'm not a lawyer, nor do I want to give legal advice. Of course you are! If you're purchasing leads...you need to question your lead company and how they screen their marketing. That's your initial thrust...the FSBO Kit...not a new Mortgage...that's why in my opinion; you're operating within the law. First, you can immediately become an expert with your own niche. It's much less intimidating talking to a homeowner than it is talking to a Realtor, and Fifth, since some FSBOs give up and elect to list their home with a Realtor...you now can refer that homeowner to a Realtor of your choice...this also helps you build additional relationships. OK...one last word on the No Call Registry... In May of 2005 The Federal Communications Commission (FCC) issued a forfeiture notice to Dynasty Mortgage, LLC in the amount of $770,000 for 70 phone calls made by Dynasty to 50 consumers who were listed on the Federal Do Not Call List. Here's my answer..."Be very careful." First of all, you need to review the law. On the other hand...if you have a great FSBO Marketing Program...and, it's available at a one time cost of only about three mortgage leads...why would you even go that route and expose yourself to that potential liability? The Federal Trade Commission has ruled that Realtors cannot use the opportunity to solicit listings. Here's why... You are literally missing the boat. You can do that at: http://www.ftc.gov/bcp/conline/edcams/donotcall/index.html Second, pay attention to current rulings and interpretations regarding the Do Not Call Registry so that you can keep informed and adjust your marketing if necessary. Fourth, it's an easier marketing approach. Your FSBO Marketing Program and "The National Do Not Call Registry" Many of you have asked about operating your mortgage business without violating the new National Do Not Call regulations. According to the notice, Dynasty obtained the leads from a lead broker, who claimed the leads were scrubbed (checked) prior to Dynasty's purchase of the leads. Third, and the whole purpose of this...you'll get lots of free quality leads. Probably because the Realtor is marketing a service that (1) requires a contract, and (2) will eventually cost the homeowner commission fees. A word about FSBO marketing... In our case we have a mortgage contract embedded in the loan application and we will charge for our services using mortgage fees. Instead...the FSBO Marketing Program is free to our FSBOs. If they are on the No Call list...you in violation of the law. Great for new folks in the business. Specifically, can using a For Sale by Owner (FSBO) Marketing Program be in violation of this law? Why? We're providing a program that is going to help them sell their home faster, more efficiently, and at the right price, all for free! You can be the FSBO expert in your area. If we went after the new mortgage initially, we would be doing the same unlawful thing the Realtors might do. It's my opinion that once a FSBO advertises or posts their phone number on a sign...Loan Officers and Mortgage Brokers can call them. You cannot call on FSBOs with the purpose of getting their mortgage on the new home they are purchasing. Are you going to try for the FSBOs new mortgage? Why?... We have searched scores of sites on the net in search of the optimum fee for and finalized our results on this summary location that file the sites that offer outstanding excellence in customer advantage when shopping for. One way of looking at it, a newly built website we don't much have a important extent of file on the precise search fame you we're looking for, however we're getting there. You won't believe the depth of our online investigations for file on and capture a hardly any of the best sites for you to visit. As the electronic companies phenomenon continues sites become higher quality at supplying the exact aid and support you are looking for.
Your Fsbo Marketing Program and the National Do not Call Registry