I was speaking with a fellow mortgage lender friend today. His marketing is based on buying mortgage leads from websites and then telemarketing people to refinance.
He was very excited as he told me about a story he read in the newspaper today that wrote about millions of people whose numbers will start dropping off the national Do Not Call list in June of next year.
"I can start cold-calling again without buying leads," he said proudly.
You see, when you signed up for this service, and 149 million of you have, to avoid those annoying calls from home, it wasn't forever. Apparently, this is only good for five years.
As a telemarketer. you can be fined $11,000 for each violation for calling someone on the "Do Not Call" list.
This hasn't stopped everyone. There have been $17 million in fines and redress paid already by violators in the last four years. DirecTV was fined over $5 million alone.
The people who first signed up in June 2003 will lose the peaceful silence of their home phone ringing off the hook from carpet cleaners, sweepstakes offers, credit card protection, and yes, mortgage companies, starting next June.
Now, the FTC, who regulates this program, says you can simply sign up again but you have to wait until your five year anniversary. I have no idea when first I signed up. Do you?
There are congressmen fighting to make it so you don't even have to do that. However, we all know how that goes.
It brings up an interesting proposition for mortgage guys and real estate agents who love to "cold-call" and were most affected by this change.
Starting in June 2008, and every month thereafter, you guys will probably have a small window of opportunity each month to start jumping on people who aren't aware that they have to re-enlist in the program.
There may be some deals in that. Will you take advantage?
I don't know about you but I have no idea what month and year I signed up.
One night, in the next couple of years, I will come home, kiss my wife, hug my kids, and settle down on my couch for a little "Sports Center."
Then the phone will ring. Louder than normal for some reason.
I will answer it and some guy will say "Mr. Gordon, as a loyal customer of ABC Bank MasterCard, you have been selected to...."
I will hang up the phone without saying a word, go to my computer, and type in www.donotcall.com for five more years of peace and quiet at home.
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I never liked cold calling and developed other means of marketing with better results. All my phone numbers are on the do not call list including cell.