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 profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?
Now that you've completed the Quick Start Guide portion of my online posts, let's dive into the next series of material, which covers how to effectively market your . Remember that my entire short sale course for mortgage brokers has nine main subjects that it will cover. So, let's start by quickly reviewing all of the topics that will be covered over the next several posts.
Types of offers you will be making to motivated sellers
Benefits of a business model that focuses on pre foreclosure
The 3 M's of Marketing Part I ? Your Market
The 3 M's of Marketing Part II ? Your Message
The 3 M's of Marketing Part III ? Your Media
Marketing budgets
Implementing your marketing plan
Trust me when I tell you that your business is only as effective as how you market it. For this reason, the next several posts will be very important to your overall success. Now, let's go into the heart of this week's lesson. With any type of real estate investment purchase, there are a number of ways to buy and pre foreclosures are no different. What may differ in helping a client work through the foreclosure process is how they want to proceed. Many sellers see the light and realize that their best option is to sell the home. In this case, there are three primary options for you to work with them to help stop foreclosure:
1) A ?subject to? purchase, where you help them remedy their default with the lender and continue making their payments until you can sell the home. Although we will cover how this type of deal is structured, foreclosure laws may vary from state to state so make sure you understand how to best proceed where you live and invest.
2) A real estate short sale purchase, where you help the client negotiate a discounted payoff with the lender
3) A wholesale purchase, where you get a pre foreclosure property under contract with the seller and then assign the contract to another investor for a fee
Every pre foreclosure deal is different and so too should be your decision in how to purchase each deal you come across in your real estate investing business. Sometimes, though, sellers may be in a position to stay in their homes and there are also ways to help them accomplish this. These include :< br>
Helping them work out an arrangement with their lender
Helping them refinance their current loan
Arranging a lease back where they repurchase the home from you at a later date (this strategy is a sensitive one when it comes to state foreclosure laws so be sure you research this one thoroughly before ever doing it!)
With all of these options, there are likely few real estate foreclosures for which you will be unable to at least have some idea how to best pursue a solution. 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.
D.C. Fawcett
The Short Sale Expert to Mortgage Brokers For more information Please visit : http://www.realestateforeclosuresinvesting.com
How do you compare to your competitors? To you, the differences may seem obvious, but to a Realtor, all mortgage companies seem alike. When you meet a Realtor, they automatically assume that you are like every other loan officer they have met. This can make your loan officer marketing incredibly frustrating.
How can you develop your loan officer marketing plans to change the mind of Realtors? Simple, loan officer marketing has to include brand image as an essential component. What do Realtors see when they look at your flyers, newsletters, postcards, brochures, website, ads and even your business cards? Are you clearly communicating an image?
Click on a competitor website. If you took their name off the site, would it be virtually identical to your site? Unfortunately, all too often the answer is yes.
It does not matter whether you are a small broker or part of a large financial institution. You still have to establish an identity that is unique from your competition. That identity is your brand image.
If you are not sure how to develop your brand image, there are four questions that can guide you through the process.
Is your name recognized? Are you memorable? What do you specialize in? Are you visible in your business?
Your response to these questions helps focus your brand image.
Name Recognition
How well is your name recognized? Are there opportunities in the local media where you or your business is featured or quoted? In an overcrowded marketplace, it can be difficult to establish that recognition.
When you launch your attempt to establish brand name recognition, you can do so through a step by step process. First you start with establishing a reputation for service excellence, then you tell your story, and finally by building your relationships and working to maintain them.
Make Yourself Memorable
Provide visual cues or slogans that serve as a shorthand for your business. You need either a memorable logo or slogan, something that Realtors will see and instantly make a mental connection with your business.
Specialize, Specialize, Specialize
When you go to a doctor for a particular problem, generally you go to a specialist. The same is true for Realtors. They look for someone who specializes in solving their problem, especially when their income is on the line. Direct your materials towards your specialty, show them how you can help them solve problems.
Visibility
Develop your loan officer marketing plan with opportunities that create exposure for you and your business. Attend networking groups, association meetings, listing tours, etc. Making sure that you are visible to the Realtor, sending out materials on a consistent basis, and actively expanding on your advertising helps keep your image alive.
Creating a brand image takes time and effort, but offers big paybacks for you and your business. Devote your time to establishing your brand, and before long, you will have no difficulty distinguishing yourself from your competition.
Both D.c. Fawcett & Jeffrey Nelson are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
D.c. Fawcett has sinced written about articles on various topics from Real Estate, Mortgage and Foreclosure Help. The author is a business building coach to The Foreclosure Industry. To Get a Free Foreclosure and short sale Course including how to buy REO Properties, Go here. D.c. Fawcett's top article generates over 2900 views. to your Favourites.
Jeffrey Nelson has sinced written about articles on various topics from Debts Loans, Marketing and Real Estate. Go to to get a free copy of Jeff Nelson's Marketing Planning Guide, a 20-page workbook designed to help you outline a str. Jeffrey Nelson's top article generates over 33100 views. to your Favourites.