Monday, December 1, 2008

For Sale By Owner Program

An active for sale by owner program can really help you find good mortgage leads and it is a real value to the home seller. Actually, if you know your stuff it can really get the homeowner off to a great start and amplify his chances of selling his home by himself. You can't get more Win - Win than that.

Most programs consist of a fsbo manual with good information about advertising, appraisals, preparing the home, home warranty, and most importantly a guest register or sign in log. The manual will usually also contain a blank sales contract and real estate disclosures required for that state.

Your most important investment is the time you spend with the home seller going through the manual and teaching them about the contract and disclosures.

During that time you should also explain about the different loan types and the ramifications to the seller. You know, like VA paper work and inspections or tricky FHA appraisal stuff. There is also a good side to VA and FHA an that is that the seller can help the buyer get into the home with seller concessions, paying closing costs and in helping with the down payment.

You can teach them that is it better to pay closing costs and/or the down payment than to lower the selling price. This approach will cost them less and will actually find more qualified buyers. If you don't understand this concept and the numbers you need to view it at for sale by owner advantage.

It is very important to put these options in the advertising. It will help to bring out the serious qualified buyers. These are the buyers that will sign the guest register, ... and you will follow up on to pre-qualify for the home seller.

You know, I say this all the time and maybe you have heard it before but it is so absolutely true that I have to keep saying it. Fifty buyers may view this home, ... only one will buy it. The other 49 will still need financing. If you can't turn some of these potential home buyers into future clients, you are in the wrong line of work. I really mean this.

I put together a program for a company I used to work for. This program was enormously successful.

I have that manual in pdf format that you may download free. Take a look at it, give it some though, and think about how you would adjust it to fit your level of commitment.

The pdf format manual is free. If you like it and want the MS Word files so you can quickly modify it for your letter head or what ever, we do charge a small fee for those files. But hey, this pdf file will give you lots of ideas and you can develop your own program. FSBO Programs really work if you commit to working them.

Download the pdf for sale by owner manual and give it some thought.

I'll be happy to coach you on your program or answer any questions. Good Luck!