FSBO Marketing - The Dream Niche For Mortgage Brokers

Apparently, I got on someone's e-mail list last week. I've been getting more and more of these e-mails buzzing about FSBO Marketing. Does it work? Can I really get loans by marketing to FSBO's? For those of you who don't know what a FSBO is - it's code for - For Sale By Owner. Now, most of the articles I write are written to Realtors. I believe Realtors came up with the acronym FSBO. My point is that FSBO Marketing has been around awhile. And it's just NOW that Mortgage Professionals all over the country are warming up to this Dream Niche. I personally have been marketing to this group for years now.

The only difference now verses back then is - we've created better mouse traps - so to speak. But, let me speak frank and talk to you now as a Mortgage Professional - who has 20 some plus years under his belt. When our market went BUST, you were faced with three choices you could make. The first choice - Get out, and many did and some still are. The second choice - Keep doing the same old thing, paying for internet leads... hoping that someone will want to refinance their mortgage. Or the third choice - Niche! Most of us realize that markets run in cycles. Back in the 80's - in the Retail Market - the BIG super stores like Wal-Mart and K-Mart came on the scene. Mom and Pop Stores were left with the same choices we now have. Get out of the business... get clobbered by the competition... or Niche. And so now we have retail stores like Victoria Secrets and Starbucks who have created a Niche.

Well, the Mortgage and Real Estate industries are no different. Right now, the Mortgage Companies and LO's that are having success are the ones that are knowledgeable in FHA products, VA loans, Jumbo Mortgages and Small Commercial to name a few. More importantly, they have Marketing Systems in place that promote themselves as experts on these particular products and programs. These Marketing Systems then create streams of revenue by focusing on relationships with different groups. It is there that they have created a Niche. They have carved out a segment of the population who they want to have a relationship with. Don't confuse products and programs with a Niche. Because look... we all know the Mortgage Professional who knows their products and programs inside and out but, doesn't have any business. Their pipeline is empty! They don't know when they will get another paycheck. They don't even know where their next deal is coming from. They spend 80% or more of their time physically doing the loan and 20% or less of their time marketing. This should not be so.

It should be the other way around. What does all of this have to do with FSBO Marketing? Everything! Here's why. It's not marketing, unless it's measurable. Unless you know where your home buyer leads are coming from. Unless you know how many home buyer leads will be there each week and each month. Unless you know how many of those leads it takes to convert or close a loan. Unless you know approximately how much you will make on each file... it's not marketing. So, a Niche is a group? A group of people that YOU want to have a RELATIONSHIP with. FSBO Marketing is more than just putting a sign in the yard that has a call capture number on it. It's about helping a home seller market their property. That FSBO, who YOU have built a RELATIONSHIP with... will soon become a HOME BUYER. And guess who will be in the front of their mind when it comes time to get a new house and mortgage? Is that why you call FSBO Marketing - The Dream Niche for Mortgage Brokers? Well, before I answer that, let me say this. I feel that every Mortgage Professional should be marketing to at least 4 - 5 groups of people. That's right! That way if one income stream dries up do to the market conditions - you still have 3 - 4 groups bringing you in income. Here are some ideas of groups that you may want to consider marketing to.

FSBO's, Realtors, First Time Home Buyers, Veterans, Military People, Newlyweds, Accountants and Financial Planners.

I personally market to Realtors all the time, because they touch about 80% of the market. To ignore this group would be marketing suicide. So, now let me tell you why I think FSBO Marketing is The Dream Niche for Mortgage Brokers. It is because YOU will be maximizing your marketing efforts by essentially working with 3 groups at once. Buyers Agents, because you now have the qualified home buyers... the home Seller, who will become a Buyer... and First Time Home Buyers. I have found that most buyers that look at FSBO's are First Time Home Buyers looking for that fantastic deal. Oh, and there's one other reason why it's the Dream Niche! My partner and I were just talking about it this very thing this morning. It's the fact that FSBO Marketing is one of the fastest ways to grow your database. I will have to talk more about that some other time. Until then, Niche!

Jim Eggers is an Author and the National Sales / Marketing Director for ByOwner247.com. He and his partner Chris Clements are FSBO Marketing Experts. They provide Mortgage Originators and Realtors with all the tools necessary to be successful at FSBO (For Sale By Owner) Marketing. You can get more information by going to http://www.UltimateFSBOMarketing.com or you may contact Jim directly at 239-878-7873 or by email at jim@ByOwner247.com

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