| Need a few more loans but don't have the cash | | | | more resources really turns them on. |
| to do some serious marketing? Have no fear. In | | | | If you have the time, and are brave enough to |
| this issue I am going to reveal 7 fantastic ways | | | | be seen doing it, try it and see what results you |
| to generate leads almost for free. These | | | | get. I wanted to test it in my market. So I went |
| methods are super cheap (most are free) and | | | | to three bookstores and put in about 120 cards. I |
| work like gangbusters. | | | | got 2 calls, and one of them is a very serious |
| How do I know? Because I shared them with my | | | | prospect. If I do it more often, I have no doubt |
| coaching clients and they had excellent results. | | | | that it would work for me as well. |
| These 7 methods are just a few of the over 30 | | | | Cheap Mortgage Lead Generation Tp #3: Orphan |
| cheap marketing methods I share in one lesson of | | | | Files |
| my 24 lesson Jump Start Your Mortgage Career | | | | When a loan officer leaves a company the clients |
| E-Class. This new class is for any loan officer who | | | | he/she brought to the company are called |
| is new and struggling or any verteran that just | | | | orphans. These clients now belong to the |
| needs a little help with their marketing. It took me | | | | company. Ask your manager to see if you can |
| over 2 years to create the content for this 12 | | | | contact any orphan files in your office to see if |
| week, 24 lesson class, and I can honestly say | | | | they need any mortgage or real estate help. Be |
| there is nothing available out there that compares | | | | nice enough, and they will allow you to add them |
| to this class. | | | | to your database. |
| If you could use more loans, then do yourself a | | | | Cheap Mortgage Lead Generation Tip #4: |
| favor and check it out for yourself. | | | | Tradeshows |
| Here we go... | | | | Another coaching client of mine goes to |
| Cheap Mortgage Lead Generation Tip # 1. Join an | | | | tradeshows. But not the ones related to our |
| Association | | | | business. He goes to unrelated trade shows: |
| People join associations for one of three reasons: | | | | electronic shows, design shows, car shows, and |
| Social - they want to build or maintain friendships | | | | his favorite: women's trade shows. |
| and influences that may have taken years to | | | | Most of the time, he is the only mortgage |
| build; | | | | company there. And he is averaging 2-3 loan |
| Promotional - they want to offer their own | | | | applications per show. The trick is to tie in your |
| products or services to others in in a cost | | | | business with the show. If it is a car show, you |
| effective and positive way; | | | | can advertise that you can help anyone buy any |
| Educational - they want to see what their | | | | car in the place. |
| competition is up to, and find out about the latest | | | | If you can pre-approve someone at a car show |
| developments within their industry | | | | for a cash out refinance, they can go and buy |
| Grow your network and your database by joining | | | | that hot car they have been salivating on for the |
| groups of already established people. By socializing | | | | last 2 hours. Instant gratification. |
| with people who have something in common with, | | | | Cheap Mortgage Lead Generation Tip #5: Join A |
| it makes it easier to generate business. People like | | | | Local Real Estate Investment Group. |
| to do business with people they like and trust. | | | | Every major city has one. And they are full of |
| Most people like others who have the same | | | | people buying and selling houses. They need |
| interests as they do. | | | | money to buy houses, and they need money to |
| Cheap Mortgage Lead Generation Tip #2: Use | | | | help others buy their houses. |
| Book Stores | | | | Cheap Mortgage Lead Generation Tip #6: Realtor |
| One of the questions I keep asking all my | | | | Open Houses |
| coaching clients is "How can you tell if someone is | | | | Stop by at realtor open houses on the weekends. |
| getting ready to need a mortgage? What do they | | | | Offer to leave some financing materials. |
| do? How do they act?" | | | | When you get to know a realtor, you can offer |
| This is the million dollar question. If you can | | | | to do open houses for her where you sit in the |
| answer this question, you can easily be rich in the | | | | house instead of her. It is not a fun way to spend |
| mortgage business. By being able to identify that | | | | an afternoon, but you might get some good leads |
| they want a mortgage before they start looking | | | | out of it. |
| for one, you can get a jump on all the other loan | | | | If you decide to go this route, make sure the |
| companies. This is one area of our business that | | | | house is in a well trafficed area and easy to get |
| still annoys me. Most other businesses, have a | | | | to. And make sure the agent does some |
| way to identify when someone will need their | | | | advertising and lends you signs and balloons. You |
| service and can market to them accordingly. Like | | | | do not want to sit in a house, where no one |
| when someone buys a new home, they most | | | | shows up because it is hard to find or no one |
| likely will be buying furniture, blinds, home | | | | knew about the open house. |
| accessories, etc. So if we were selling any of | | | | Another tip is to meet the neighbors of the home |
| these items, all we need is a list of new | | | | you are holding open. See if they know anyone |
| homeowners to market to. And that list is easily | | | | wanting to move or buy. Chances are someone |
| available. But how the heck do we figure out who | | | | will know of a family wanting to move into the |
| is "thinking" of getting a mortgage? | | | | neighborhood. |
| The answer one of my coaching clients came up | | | | Cheap Mortgage Lead Generation Tip #7: Realtor |
| with was that they might go to the bookstore or | | | | MLS |
| library to read books on home buying, or | | | | Want a source of thousands of people who will be |
| mortgages, or real estate in general. And that's | | | | getting a mortgage within the next couple |
| true. Every bookstore has a real estate section. | | | | months? |
| And most of the books are for consumers who | | | | It's sellers. And the Multiple Listing Service used by |
| are buying and selling real estate. | | | | Realtors is full of them. Do a search of homes for |
| So my next question is, "Now that we have | | | | sale, get the owners' name from the tax records |
| identified what they do, how do we get our | | | | and you have yourself a good prospect list. |
| message in front of them?" | | | | Mail them something about you or an offer for |
| And my client came up with this simple method: | | | | free information. Call them if you can get their |
| Go to the bookstores and libraries and insert a | | | | phone number and they are not on the Do Not |
| business card into each book. | | | | Call list, or just drop by their house if you have |
| After doing it for a couple months, he came up | | | | the guts. |
| with some simple observations: | | | | This is exactly what one of my coaching clients |
| First, he learned that the best place to put the | | | | does. He calls Realtors who have listings and asks |
| card was somewhere in the front. Try for the | | | | them if he can market his services to the home |
| first chapter because not everyone reads the | | | | sellers. Many Realtors say yes. When they do, he |
| whole book. | | | | contacts the sellers, and tells them that their |
| Second, pick the books with the best covers and | | | | realtor said it was ok to call on them. |
| graphics inside- they sell the best. | | | | He tells me the majority of home sellers he talks |
| Third, not all books sell and some are sent back | | | | to are willing to talk to him and he gets several |
| to the publishers. | | | | loans a month using this trick. |
| Fourth, having a USP on the card helps boost | | | | If you liked the above lead generation tips and |
| response. | | | | would like more, check out my Jump Start Your |
| Fifth, it takes about 10 minutes per bookstore. | | | | Mortgage Career E-Class today. As I said these |
| Sixth, he averages 3-4 calls a month, and one | | | | are just a few of the dozens of cheap lead |
| loan per month. | | | | generation techniques I share in one lesson of the |
| Seventh, he now has his assistant do it. And she | | | | course. The other lessons cover every aspect of |
| goes once a week. | | | | mortgage marketing that you need to suceed in |
| Eight, the people who call are in search of more | | | | this business. |
| information, so offering them unbiased advice and | | | | |