Mortgage Marketing Tactics

By: jeffn
Some real estate agents will never be loyal to one loan officer, instead they give their potential homebuyers three business cards of lenders for them to select from. What do you do if you're not getting a ringing endorsement from the agent? How can you beat the competition, so you get every lead each time the agent gives out your card and two others belonging to competitors?

Here are three specific tools that give you an edge over the competition, whether or not the agent endorses your services.

Power Tools for Self Promotion

You can get real estate agents to promote your services better when you give them tools that are helpful for them and the buyer. The best ones are perceived as high value and don't get tossed in the trash. In fact, just the opposite occurs. The tools are passed along to friends, family and other agents. This is called viral marketing - a strategy that encourages individuals to pass on your marketing message.

Audio CD

CD's deliver high-perceived value and have an eternity for shelf life. Think of the impact when an agent hands the buyer three business cards and one of them is your audio CD. From the three, which one will the buyer call first? Not only does the CD distinguish you, it sends a message about the quality of your service.

What should the CD consist? Write down the 10 most frequently asked questions by buyers during the loan application process. That's your content. Keep the message to 10 minutes or less and you have an excellent tool that agents will be happy to give out. Why? Because it makes them look good too!

Have I hit your creative button? That's right...produce a CD that partners you and your agents. Now they're more likely to give it away as the only business card of choice because it includes them as part of the marketing and part of the message.

Informational Booklet

What do you get when you fold 2 pieces of paper in half twice? - A sixteen page informational booklet. It can be a great compliment to your audio CD or it can stand-alone.

Your booklet could highlight the benefits of the most popular loan programs in your area. Or it could have a booklet targeted to different types of buyers, i.e. first time, investor, affluent, seniors, etc.

Business Card

The business card still plays a vital role as ever in marketing. Often it's the first impression people have about your services. Look at your card, does it make you appear professional, distinctive and help you stand out from competition?

Here some do's and don'ts on professional business cards:

Do Include Your Photo - Do go to a professional photograph, don't use your digital camera with your back against the office wall. If you're going to put your picture on a card, do it right, it'll be worth every penny.

Do Hire a Professional - Do hire a firm to professionally design your card. The design should carry over to your brochures, flyers and other marketing materials so you get your money's worth. Don't do it by yourself using a program like Microsoft Publisher.

Do Print on Both Sides - Do offer your free CD or information booklet. Do include your website that highlights helpful information and offers a free newsletter for subscribing. Don't print a list of documentation needed for the loan application. Don't overcrowd either side of the card with too much information. It'll appear cluttered.

Do Use High Quality Paper - The quality of your paper is critical. People feel the thickness of the paper between their fingertips, and if it's thin they perceive you as being cheap.

Two of the three tools reported here are unlikely to be used in your marketplace. And if you collect your competitors' business cards, you'll find many that leave a lot to be desired.

Work at creating tangible marketing tools that support your services and makes the agent's job easier and you'll find more buyers calling you ahead of the competition.
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