MORTGAGE MAGIC

Free Marketing Newsletter

The Free Mortgage Marketing Newsletter for Loan Officers and Mortgage Brokers Who Are Serious About Their Business

From: Ameen Kamadia, President of Kamrock Publishing

The List Makes All The Difference

Dear Fellow Loan Originator,

Have you ever tried getting a refinance loan from a person who doesn't own a home? I can tell you from experience that it's not easy. In fact it's downright impossible. Mainly because the prospect has no interest in what you are selling.

That's why it's hard to sell ice to Eskimos. They already have all they can handle.

And that is why you need to know exactly who you are targeting with your marketing and advertising. You cannot guess and you cannot kinda sorta know. If you want to close more loans with less work, you need to know every detail about your prospect BEFORE you make your pitch.

When you advertise for refinances, you need to target only people who own homes. But what if you could take it a little further. What if you could target people who own homes with a rate that is higher than normal. Would that result in a better response rate? Probably.

What if we took it further. People who own homes, have a higher than normal rate, and got their loans 5 years ago. Better response? You bet.

Let's go even further. People who own homes, have a higher than normal rate, got their loans 5 or more years ago, and have a child going to college this year. Would this be an amazing prospect or what?

Can you get a list of people that meet this criteria? Sure you can.

If you want, you can get a list of people that own Toyota 4-Runners, live in a house that is worth between $300,000-$500,000, subscribe to SkyDiving Today magazine, have three credit cards, two kids, 1 dog, and 1 iguana in Wilmington Delaware.

Chances are your list won't be very long. But if there is anyone out there that matches this criteria, you can find them. Face it, we have no privacy anymore.

So now how do we use this info to make more money?

Easy. Go through your past clients, and find the traits that most of them have in common. Put together a sketch of what your average client is like. Age: Sex: Marital Status: Neighborhood: Profession: Kids: Hobbies: Financial Status: Debt: Etc:

Once you have your list, it is time to find people just like your average client. The easiest way to do this is to call a good mailing list broker. Look them up in the yellow pages or on the Internet. They can help you determine how to refine your list to match what is available.

You now have a great chance to have your marketing message hit home with everyone on that list. Talk to them in their language. Get them to understand that you know what they are going through in life, that you understand their problems and that you have a solution.

Market to them again and again until they come into your fold.

If you need help determining your average client, I might be available for short duration consulting. Email the office if interested.

Happy Originating!

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