Second, this is truly an inexpensive marketing approach. Great for new folks in the business. 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. 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. If you're purchasing leads...you need to question your lead company and how they screen their marketing. First, you can immediately become an expert with your own niche. You just won't go for it on the first call or even the second call. You can be the FSBO expert in your area. Fourth, it's an easier marketing approach. Are you going to try for the FSBOs new mortgage? Specifically, can using a For Sale by Owner (FSBO) Marketing Program be in violation of this law? Probably because the Realtor is marketing a service that (1) requires a contract, and (2) will eventually cost the homeowner commission fees. Why?... Third, and the whole purpose of this...you'll get lots of free quality leads. There's no cost there. Of course you are! The more FSBOs you have working...the more leads that are generated each week. Here's why... 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? Here's my answer..."Be very careful." First of all, you need to review the law. 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. That's your initial thrust...the FSBO Kit...not a new Mortgage...that's why in my opinion; you're operating within the law. 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. If they are on the No Call list...you in violation of the law. You cannot call on FSBOs with the purpose of getting their mortgage on the new home they are purchasing. Why? 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. The Federal Trade Commission has ruled that Realtors cannot use the opportunity to solicit listings. 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. Let's preface this by saying, I'm not a lawyer, nor do I want to give legal advice. 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! If you're not working with FSBOs...you're missing an opportunity to build and maintain a continuous lead and referral machine. 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. If we went after the new mortgage initially, we would be doing the same unlawful thing the Realtors might do. A word about FSBO marketing... You are literally missing the boat. I'll let you answer that question... Detailed test all over the net resulted in this location about for you to click to. The continued explosion of net marketing way that traders become more familiarity in providing goods and services. That's where this location comes into the picture.
Your Fsbo Marketing Program and the National Do not Call Registry