What Is Your Market Plan For The 4th Quarter???

What Is Your Market Plan For The 4th Quarter?  Summer is almost over, and Fall is around the corner.  That means that the slowest half of the 3rd Quarter is behind us, and the more productive half is just starting.  The first half of the 3rd Quarter tends to be slow because of vacations, and getting the kids ready for school.  Purchasing a house during this time tends to not be a priority, but the last half of the 3rd Quarter tends to be much busier, not as busy as the Spring Market, but it is the second busiest time of the year, at least for me.

The problem with the last half of the 3rd Quarter is that it is very short, and it is followed by a Quarter that is historically a much slower market because of the Holidays, and cold weather.  So we need to prepare for the slower months, and have a plan in place that will continue to generate business.  That means that if we want to have a productive 4th Quarter we need to start to put a plan into motion today.  But it takes more than just having a plan, we also need to execute the plan.  If we wait until the 4th Quarter to execute the plan it is to late, it needs to be executed right now before the Quarter begins.

So What Is Your Market Plan For The 4th Quarter?  Do you have a plan, or are you going to sit around and pray that the phone rings?  Waiting for the phone to ring is not a very good plan, but puting together a strategy to make the phone ring is.  So here is my plan to make my phone ring.

• First Time Homebuyer Seminars - First Time Homebuyers have always been the major source of my loans.  It does not matter if we are in a bad market or good market, First Time Homebuyers are out there buying.  Unlike existing Homeowners who have the burden of selling their home, First Time Homeowners only need to be concerned with giving their Landlord sufficient notice.  By conducting First Time Homebuyer Seminars I can reach out to these Buyers, and keep my business going in good and slow times.
• Bank Owned Properties (REO) - I will be contacting Realtors Realtors to make them aware that I am ready to assist them in selling more REO's through programs like the Connecticut Finance Authority (CHFA) HERO Program.  Even though CHFA is a program for First Time Home Buyers, the CHFA HERO Program is for both First Time Homebuyers and existing homeowners.  All buyers are eligible for the CHFA HERO program as long as it will be their principle residence.  HERO is specifically for Foreclosured, Abandoned, and Bank Owned Properties (REO's).
• FHA 203K Loans - I will also be making Realtors aware of 203K Loans and the difference between a 203K and a 203KS.  Both of these programs can be a great assistance to Realtors in helping them sell more houses that are in need of repairs, which in turn keeps me busy writing mortgages.
• Mortgage Returns - I have written about Mortgage Returns in the past and how this program helps me to stay in touch with my Realtor Partners, and my Borrowers.  Through Mortgage Returns I can quickly and effectively stay in front of my Realtor Partners, and Borrowers with up to date information of what is going on in the Mortgage Industry, and what my Borrowers can take advantage of.  With just a few clicks or a mouse, I can send out a monthly news letter, or other materials that will assist them.
• Increase the number of times that I stop by Realtor Offices, and Open Houses.
• Assist with the planning of a company wide Appreciation Luncheon in October to thank Realtors that have Refereed Borrowers to me throughout the year.  My Realtor Partners are the most important part of my business, and I need to not only let them know how valuable they are to me through an Appreciation Luncheon, but to also verbally tell them that throughout the year.
• Mortgage Inspection Letters - Sending a mortgage inspection or tune-up letter at this time of the year is a great way to make another contact with my Borrowers, and also makes them aware of options that they have available to them, especially option that can lower the interest rate, and lower their monthly payment.

There are no guarantees when it comes to maintaining and increasing your business, but by doing what I listed above right now, I am sure that I will have a busy and productive 4th Quarter.  So What Is Your Market Plan For The 4th Quarter that will keep you busy and productive?

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  Info about the author:

George Souto is a Loan Officer who can assist you with all your FHA, CHFA, and Conventional mortgage needs in Connecticut. George resides in Middlesex County which includes Middletown, Middlefield, Durham, Cromwell, Portland, Higganum, Haddam, East Haddam, Chester, Deep River, and Essex. George can be contacted at (860) 573-1308 or gsouto@mccuemortgage.com