Are you looking for new ways to attract business? When looking at a mortgage transaction, most prospective clients are faced with the fear of being taken advantage of with fees, rates, etc. Referrals are one of the safest places to start when selecting who to go to for help. However, there is a percentage of the general population who don't know who to turn to for mortgage services.
In absence of a referral, many prospective buyers will turn to local companies, or professionals, assuming a community bond is a safer resource than the yellow pages. While doing some personal shopping this past week, I found myself using local community magazines for a convenient resource. As I flipped through several publications, I noticed local companies advertising special discounts and even donations to local charities as a result of each new transaction that came through the publication. I thought to myself, "Why aren't more loan officers and realtors doing this?"
Fortunately, there are hundreds of local publications that you could choose to run some local advertising that is inexpensive, yet effective. In my opinion, the key will be consistency as well as special incentives for prospective buyers to call. Running an add for 6 months vs. 1 month will increase your ROI (return on investment) based on potential clients knowing where to find you. You could consider pet lover magazines, and offer to make a donation to the local SPCA. You also could consider environmental and community magazines and make a contribution toward community clean-up programs. You could even target local entertainment publications and offer donations toward fund raisers or opera guilds. You can tap into loyal community patrons as well as provide a valuable service to charitable organizations.