Over my last several posts, I’ve introduce some of the basics of marketing for a preforeclosure 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 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 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 business marketing. Since we’ve now covered both your target market and your marketing message, it’s time to move onward and forward. So, let’s see where we are at for this series of posts on marketing.
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
The last of what I like to call the three M’s of Marketing for pre foreclosure properties concerns the media you will be using to deliver your message to your potential clients. The importance of media is that not all types of marketing or advertising are equally effective. You must be diverse and adaptable with your choice of media to be the most effective.
Examples of different media you can use to deliver your marketing message include a variety of price ranges.
Low cost marketing tools include:
<!-ü Doorknob tags
<!-ü Personal visits (door knocking)
<!-ü Phone calls
<!-ü Street corner (bandit) signs
<!-ü Vehicle magnetic signs
High cost advertising media include:
<!-ü Newspaper classified ads
<!-ü Internet marketing (e.g. pay per click to your website)
<!-ü Yellow Pages ads
<!-ü Radio ads
<!-ü TV ads
As you might expect, some combination from the lists above will broaden your appeal to motivated sellers. Just don’t fall in love with a single type of media as this will not appeal to all sellers. For best results, make sure your message and contact information remain consistent across your media and the total effort can start to resemble a sort of branding for your business.
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.
The Short Sale Expert to Mortgage Brokers
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