Automating Your FSBO Research

After managing (and then owning) a real estate office for years, I'm convinced that one of the biggest obstacles that prevents agents from prospecting as frequently, and consistently, as they should is the time consuming task of tracking down For Sale By Owner's through the local paper.

In the last several years this task has become even more time consuming because many FSBO's advertise in magazines, and others can now be found only on the Internet, and there are many such sites that must be researched in order to cover any marketplace.

I've recently discovered an outstanding service that will aid the aggressive-minded agent, called Warnock's By Owner.

Just imagine hiring an assistant to comb through the local newspaper and FSBO oriented Web sites on a daily basis, and then reporting any and all prospecting contact information collected from these various sources, for $39 a month (less with quarterly or annual contracts). This is exactly what the Warnock's Web site does.

Not only are new FSBO's researched and emailed to you on a daily basis, but all advertisements are cross-referenced with previous listings to eliminate duplication. As a result, when Warnock's tells you that a FSBO listing is new to the market, the odds are overwhelming that it really is a brand new "by owner" offering.

Warnock's research is delivered in email format. While I've changed the confidential information for obvious reasons, below is an actual example:

1 of 2, MI:Washtenaw County:All
First advertised 11/19/2002, Newspapers B
313-701-XXXX
ACREAGE in WASHTENAW AREA
Lot: 80 + ACRES
2 of 2, MI:Washtenaw County:All
First advertised 7/19/2002, Newspapers B
734-482-XXXX
CECIL XXXX
XX OREGON ST, YPSILANTI, MI, 48198
ACREAGE in WASHTENAW AREA
Lot: 10 ACRES
For those agents who wish to add these new FSBOs to their contact managers and marketing databases, Warnock's will also include the prospecting contact information as an email attachment in the widely used "comma-delimited" format. Thus, for those agents who wish to truly automate their prospecting, new FSBOs can be immediately imported into most any contact manager and then assigned an action plan.

Finally, Warnock's also includes access to a Web site database that functions much like an MLS, but for private listings. Whether this is used for prospecting, or simply for finding properties that meet your buyer's needs, it's another great tool any serious professional could use.

While not every area of North America is covered by the service, with well over 175,000 FSBO listings, most every major market is researched and reported on a daily basis.

For more information, visit their site at: www.wbyowner.com

The content of this article is based on my seminars:
Next Century Productivity
Point & Click Prospecting
Stephen M. Canale
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