The pre-foreclosure workout business is a continual process of finding new defaulted homeowners. You should target your marketing to homeowners facing foreclosure and the content of your marketing no matter what the form should always focus on how you can help them.

The top ten most popular and most effective marketing resources are:

• Classified or Display Newspaper Ads: Ads can be expensive so choose your word carefully.  Think: Attention, Interest, Desire and Action.  Advertise often.  Try ads offering FREE information on how to stop foreclosures.

• TV: Very expensive to produce so test out to a 10-15 thousand local cable channel.  Think carefully about the content of your commercial and the type of show your commercial is preceding, during or following.

• Radio: Less expensive than TV but still costly.  Like TV, think carefully about who listens to the station and the time of your ad.  Persons usually stressed with financial considerations often stay up late worried about their problems.

• Internet Websites: Designing and publishing a website is very time-consuming. Consider hiring a freelance webmaster or other multimedia freelance jobsites.  Carefully consider an easy to remember domain name and think about the positioning of your site on search engines.

• Bandit Signs: These signs are usually 12x18 or 18x24 inches and made of corrugated plastic. The cost is usually between $1.50-2.00 each.  The best utilization of signs is to place them at traffic intersections because it gives them time to read it. But be careful to check your local laws about restrictions on placement or use.

• Business Cards: Be distinctive and memorable. Try using a colored heavier cardstock.  And if your company name doesn't reflect what you do, make it very clear with a brief description but keep it simple!

• Direct Mail: Define a clear objective. What idea are you attempting to convey.  Tell a story and put your message in it. Use unusual pictures.  Always uses lots of active verbs. Make it look personal. Handwrite and use stamps!

• Magnetic Vehicle Signs: Put a bright colored one on your car wherever and whenever you go.  You never know who may read it.

• Business Referrals: Establish relationships with local loan officers, mortgage brokers, real estate agents and REIC.  Let them know who you are and what you do.  Extend referral bonuses. 

• Word of Mouth: Tell your neighbor, your cousin, even your hairdresser what you do and how you can help.  People talk and so should you.  You never know where your next deal may pop up.

No matter what form of marketing avenue you use, you should always convey how you can help and try to appeal to a variety of persons and interests through the use of different wording and pictures/graphics.  What grabs the attention of one person facing foreclosure may not be the same as the next person.

Home sellers/investors are feeling the pinch of a market swimming in foreclosed houses.  Everyone is screaming for...MOTIVATED HOME BUYERS!

Need a solution? Then get ready for this...

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Make it a prosperous Day!

Luis Echevarria

Title & Escrow Consultant

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