There are several marketing techniques that are in use today.
#1 You can purchase leads from a lead provider normal cost is approximately $25.00-$35.00 per lead and there is a minimum purchase amount like about 100 per purchase. Some of these are retreads, so you are really guessing which are real or is this someone that just like talking on the phone.
There are cheaper ones but they have been around the block a few times. So you are really guessing on these leads.
#2 There is telemarketing, but then there is the “Do not call list” So you have to be careful there and not make a mistake or you will be sued.
#3 Advertise in the local newspaper that you are now in the business of doing loans
#4 You can direct mail to individuals that you are in the business of doing loans.
I suggest you secure your own leads by leaving the office and spending time in a area that you want to work and get to know the people that could be your future clients.
Find an area in your city that you want to work approximately 5,000-10,000 houses. Make you enough flyers to cover your area. If you have children this will be a good weekend activity for them as well as yourself. While walking the area passing out your flyers, if you see someone out doing the lawn or just out introduce yourself, give them one of your cards. See if they are willing to give you their name and email address so you can email them, on a monthly basis, things about the mortgage industry as well as your monthly newsletter. Place any information you collect in a data base that you should start.
Your flyer should tell them a little about you a few of the loan programs that you will be offering and introducing. This is an introductory flyer that you can make on your computer. You can get them ran off at Staples or Office Depot.
You should pass these type flyers out at least 3 months in a row. This will let them know that you are sincere and look as if you will be there for them.
You should also visit the local commercial places in the same area. Find out if they will allow you to place a flyer holder in their business, give them one of your business cards, find out their
name, write it down you never want to forget it because they will become one of your partners. Buy something even if you are gonna give it away and don’t need it. Do this to as many commercial businesses in the area as will allow you to place a flyer holder in their place of business. You will find the flyer holders at Staples or Office Depot..
Call the post office and inquire about their bulk mailing stamp. Get one and learn the system of bulk mailing.
Also call your title company and get them to provide you with the names of the people in your area that you have been passing out your flyer.
Remember your data base you were starting and now should have over a thousand names that you alone should have been able to get if you have been walking the area.
Once you have passed out the flyers for at least 3-4 months start you a newsletter covering topics on the mortgage business. Get articles from your local newspaper as well as off the internet. Just remember to give credit to the author of the article. You might have a doctor, lawyer or some other professional to help you on your articles. Charge them for the articles, about 50% of the cost of the newsletter.
Now remember the businesses that you had your flyers in and you now know their names because you have been there to change your flyers about 2 times per month. Place your news letter in these businesses also.
The best thing about these businesses is now you want to see if they will advertise in your business newsletter being sent to the local area in which their business is located. You should be able to charge them about $45.00 to $50.00 per business size card advertisement. Try and get them to place a coupon in the flyer offering some type of discount if the customer bring the coupon in to their store.
Now you will need a professional team to assist you in your business. You will need an attorney, a notary, a title rep, an insurance agent that sell homeowners insurance policies and a real estate agent. You should pass out their cards to your clients that need their services and they should pass out your business cards to their clients that need your services. This should give you a steady supply of referrals. This should not be a one way street, they should be helping you as much as they are in the habit of helping you. So you might have to change your professional team to get what need to be accomplished.
Now that you have your bulk stamp, your newsletter and your data base that you have now added from your title rep to the names you had already. You are now ready to mail or email your newsletter each month.
Don’t forget to offer your clients a FSBO package, where you will qualify their possible buyers if they are not pre-approved already. You will want to assist them in setting up an open house where you will be there to assist potential buyers and most importantly pre-approve all those that come to look at the house that aren’t. This will give you a steady source of leads also. This should always be in your monthly newsletter that you will assist all those that want to sell their own property. You can charge them $500.00 for providing escrow service, title services, appraisals and other services they will need to close the transaction. With the $500.00 you should be able to place an ad in the local paper of all open houses you will be conducting on the 2nd and 4th weekend of each month or whatever weekend you chose to have open houses.
What ever you do, don’t try to talk them out of selling their own home, you are there to assist and get to the clients that need pre-approval for loans to purchase homes. They would not be at an open house unless they were considering buying. Always have an ample supply of 1003’s on hand.
I hope this has been of some help to you, good luck.