When Lenders Assist FSBO's

By
Mortgage and Lending with Coastal Mortgage

When it comes to lenders assisting FSBO's, I know there are two schools of thought from the Realtor's perspective. The first is that anything promoting FSBO's is bad for the agents. The second is an appreciation for the opportunity to get listing referrals from converted FSBO sellers.

I have had remarkable success marketing to FSBO's in the last five months, which is when I started an aggressive targeting program. I have been able to funnel several listings and buyers to a core group of Realtors that I work with. I have also closed a number of loans.

So, for me, it's great. I've boosted my income and strenghtened my existing referral sources.

How do the real estate agents here feel about it?

Comments (4)

Ann Guy
NA - Allentown, PA

Hi Jason,

Are you doing the pinto program?  I've heard about it and was curious to know if it actually worked.  I thought it was a good idea but have not tried it, yet. 

Aug 29, 2006 08:05 AM
Jason King
Coastal Mortgage - Mandeville, LA

Hi Ann,

The system is my own. I have heard of the Pinto system, but do not know its details.

Aug 29, 2006 10:17 AM
Sam Thompson
BIC Services, LLC - Fayetteville, NC
BIC Services, LLC
Here's how successful LO's in my company do it.  They get the agents to visit the FSBO just to see the property and offer their services that includes pre-approving their buyers!  This helps build the relationship with the agent and allows you to pick up leads from the FSBO.
Jan 07, 2007 11:04 AM
Calvin Neely
FLI Properties - Lagrange, GA
Let's get you moving!
Just found this blog and had to comment.  I am meeting with two loan officers this week to finalize our "win-win" plan.  I will provide them the FSBO information that I gather in my contacts.  They will contact them and offer to pre-qualify any potential buyers.  If the potential buyer does not buy the FSBO the lender will provide me with their contact information.  They are looking to buy and just might buy from me. 
Jan 08, 2008 01:43 AM