MARKETING TIP - The Dollar Letter

Mortgage and Lending with First Capital Mortgage
I have found a very unique way of marketing for mortgages. Its called a dollar letter. I find a neighborhood that I want to target for refinances. I write down the street addresses and hen write a short note, attach a crisp one dollar bill to the bottom of the page and mail the letter out. I do 100 at a time and usually get a pretty good response, I would say 15 - 20%. If you do the cost averaging it is great, especially since you can make several thousand dollars on one closing and you have just created a pool of 10 or 15 new prospects. I haVE DONE RADIO AND NEWSPAPER, SPENT THOUSANDS OF DOLLARS AND GOTTEN LITTLE TO NO REPSONSE. This has pretty much guaranteed me a solid influx of leads to get me through this tough economical correction. You can also get more marketing ideas on my new group that I have formed.

Comments (4)

Bart Smith
First Capital Mortgage - Richmond, VA
If you look at any marketing, there is always a good time and a bad time for certain techniques I guess, however by using none you dont really get anywhere. I think this has gotten me the best out of any marketing program I have used though. Thanks for the comment Mike..
Aug 28, 2007 05:59 AM
Billy J. CarrollJr.
Bullard Homes, Inc. - Ocean Springs, MS

Can anyone send me a sample of this letter that would be good for Real Estate Agents?

Dec 02, 2007 03:26 PM
bart smith
sure, give me a call and i will have one forwarded to you. 804-398-2030
Dec 03, 2007 02:06 AM
Billy J. CarrollJr.
Bullard Homes, Inc. - Ocean Springs, MS
Thanks a bunch Bart.  Feel free to email it to me at  Thanks again!
Dec 03, 2007 04:56 AM