Over my last several posts, I’ve introduce some of the basics of marketing for a foreclosure based business, one that can produce thousands in profits. I’ve also mentioned on many occasions 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 loan officer 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 effectively market to new clients, 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 posts, which focuses on how to find fopreclosures for loan officers. Since we’ve now covered your target market, it’s time to move onward and forward. So, let’s see where we are at for this series of posts on marketing.
- Types of offers you will be making to motivated sellers
- Benefits of a business model that focuses on pre foreclosure
- The 3 M’s of Marketing Part I – Your Market
- The 3 M’s of Marketing Part II – Your Message
- The 3 M’s of Marketing Part III – Your Media
- Marketing budgets
- Implementing your marketing plan
The second of what I like to call the three M’s of Marketing for pre foreclosure properties concerns the message you will be delivering to your potential clients. The importance of your message cannot be understated. Think about the benefits of a good first impression and you will understand the value that accompanies your message.
If your primary mission is to buy properties from clients, then you will want to consider the following features in your marketing message:
- Emphasis on the speed with which you can operate. Nothing talks quite as much as a fast closing, especially in a pre foreclosure situation.
- Competitive offers. You are often looking for a discount but you can still make competitive offers and acquire deals so be sure to point this out.
- As is purchases. Unlike many traditional buyers, you can handle taking a property in its current condition and this can be a big selling point to many sellers who don’t want (or can’t afford) to make repairs just to sell
- Emphasize that closing with you can be at no to low cost to the seller. Compared to a realtor commission, your services are a walk in the park so be sure and point this out.
When your services also include helping homeowners to save their homes, this clearly needs to be incorporated into your marketing message. Example statements include:
- Save your home!
- Avoid foreclosure!
- Refinance with any credit score!
- Keep your home!
- Multiple strategies for staying in your home
As you might expect, some combination from the lists above will broaden your appeal to primary market sellers. Remember that your message needs to have appeal and also reflect the types of deals you wish to pursue.
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 foreclosure 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.
The Short Sale Expert to Loan Officers
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