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!
Monday, December 1, 2008
For Sale By Owner Program
Monday, May 19, 2008
For Sale By Owner Manual
If you are a homeowner and you say, I want to sell my home fast, I would suggest that you seek out a mortgage broker that has a For Sale By Owner Program. Mortgage Brokers have a wealth of knowledge that they are more than willing to share with you.
Most programs include providing you with a yard sign, an information manual, home fliers, and instructions on how to fill out the required paperwork. They will also follow up on everyone that views your home and will pre-qualify them so you don't have the worry of wondering if the buyer can get a loan.
They cannot negotiate for you, but what most people don't understand is that after the contract is signed it is the broker that handles the rest of the transaction.
The lender orders the appraisal, and inspections, and title insurance, and everything else that is needed ... and does all the coordination.
If you don't have a mortgage broker with a for sale by owner program assisting you, you are missing out on the best free help you could possibly get.
FSBObasics.com is a free fsbo website where you can list your home free of charge. They also have a list of real estate professionals in your area that have free programs. I would check that out. If there isn't anyone listed in your area, just get on the phone and call some of the brokers in your neighborhood. Most brokers have a program.
FSBObasics.com also has a For Sale By Owner Manual ($27.94). The manual is in pdf format and it's focus is toward the mortgage broker. I guess by that what I mean is it is an ebook that contains a FSBO manual and ideas for the broker so they can set up a program for their own company.
The video below illustrates to the broker the manuals covered in the pdf, how they are put together and replicated for their loan officers at a cost they can afford.
If you are a For Sale By Owner, you could purchase the ebook/manual but I don't recommend it. What I recommend is what you really need, a Broker to support you and help you along the way. I actually have an ebook almost finished that will be focused just for your use. I hope to have it completed by the end of June.
If you are a seller and have any questions send me an email. I'll be happy to support you anyway I can.
IF you are a broker or loan officer I hope this video helps to clarify any questions you may have.
This program works, ... but like any program, it only works if you work it, ... consistently.
You can purchase this program on on our web site at fsbo manual, www.fsbobasics.com/fsbo.html
Always,
Connie