Marketing for Preforeclosures- Way Beyond Mortgage Broker Education

Education & Training with

Over my last several posts, I’ve introduce some of the basics of a preforeclosure based business, one that can produce thousands in profits. I’ve also mentioned what you may already see as an obvious reality, that being the current challenges in working the mortgage business. After all, what are the formal mortgage broker training, attendance at mortgage seminars, and time and effort that you’ve put in doing for you now?

There has to be something else in today’s market. As someone who has had mortgage loan training and who I’m sure pays attention to the news and realizes how many foreclosures are out there right now, aren’t you ready to learn how you can profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?

I’ve also introduced my system for working this business that works and that works consistently! If you really think about it, a foreclosure investment course (or any real estate investment course for that matter) should focus on giving you repeatable results, not just something that may work for a few select people.
Now, let’s continue this next series of lessons, which focuses on business marketing. Since we covered the types of offers you’ll be making in my most recent post, it’s time to move onward and forward.

ü    Types of offers you will be making to motivated sellers
ü    Benefits of a business model that focuses on pre foreclosure
ü    The 3 M’s of Marketing Part I – Your Market
ü    The 3 M’s of Marketing Part II – Your Message
ü    The 3 M’s of Marketing Part III – Your Media
ü    Marketing budgets
ü    Implementing your marketing plan

Getting into the heart of this week’s lesson, let’s talk about some of the benefits of working pre foreclosures. First, you have the opportunity to buy great investment properties from highly motivated sellers. Second, you have the opportunity to help someone who is in a situation that they may not know how to remedy. Your knowledge, expertise, and compassion are all elements that can contribute mightily to the growth of your business.

You also have the option of helping someone actually save their home, as was mentioned last week. You need to tread carefully here, but there are some clear benefits to including this feature in the options you offer to your clients:

1)    Indicating that you can help clients help save their home will likely improve the response rate to your marketing. There are plenty of investors who offer to buy houses, but not all will offer that they help a homeowner save their house like you can.

2)    Instant cash flow. When you help someone save their house, be it through a refinance or helping them work out terms with their current lender, you can charge a fee for your services. We normally charge a flat fee of $750 up to 4% of their loan amount. This fee can help support your marketing budget, even when you don’t end up buying the house in question.

3)    Increased short sale leads. Sometimes, a work out plan simply will not work for a homeowner (e.g. they’re just in over their head). In these cases, you have an established relationship with the client and you can pursue a short sale on their behalf.

4)    You are helping someone preserve their version of the American dream. Home ownership has long been one of the top goals for American families and the fact that you can help preserve that for your clients should be a source of pride and satisfaction for you.

5)    Referral leads. When you help one client, that can lead to countless others through referrals. Marketing will itself generate its share of leads but referrals can also be highly lucrative.

6)    Future profit. The sad truth is that even when you help a homeowner work out an arrangement to keep their home, sometimes things don’t work out and you may very well be the first ones they call when past clients get into a bind.

Since you are in the mortgage lending business already, the idea of marketing your services should be something that you are well on top of, again a huge advantage you have over other investors. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. Please take the time to review the action steps and tips from all of my recent posts and make sure you’ve paid attention because we’re going to move onward and forward and I want you to be in an ideal position to act upon what you are learning. Stay tuned, I have so much more to share with you, and all the best to you in success.

D.C. Fawcett
The Short Sale Expert to Mortgage Brokers

To get a FREE Short Sale Course for Mortgage Brokers, go to:

Short Sales for Brokers

Mortgage Broker Education

Comments (0)