Mortgage marketing

By reklicom

Here's what you need to do...Promise yourself that you'll spend 30 uninterrupted minutes each day working on the marketing part of your mortgage business. Set aside a 30 minute block of time. Turn off your cell phone. Checking your email and surfing the Internet is not allowed. Answering the phone is not allowed. Out bound calls are allowed. Use a timer or alarm because clock watching is not allowed either.The next 30 minutes are your marketing minutes, so make the most of this time. Here are but a few suggestions on how to spend those precious 30 minutes:

Schedule your 30 minute marketing period every day and over time, you'll see some pretty significant results. Incidentally, this little technique works for other chores you've been putting off.

Unfortunately, it's going to get a lot worse before it gets better. According to the latest estimates, over 2 million subprime and Alt-A adjustable rate mortgage (ARM) holders will face payment increases of up to 30%-100% when their loans reset in the next 2 to 18 months. These loans make up less than 40% of the total mortgage market, but the negative effects, as we have seen, of increased foreclosure activity can have a ripple effect throughout the industry and around the globe.

Thou shalt say "Thank You" often. Every savvy marketer knows that a 'thank you' is important. They don't have to be showy or expensive. Just make sure the 'thank you' is classy and considerate, and the kindness you have shown will eventually be repaid to you many times over.

There is no doubt that all of us have broken these commandments from time to time. Should you consistently break these Ten Commandments of Mortgage Marketing, you do run the risk of a mass customer and prospect exodus the world has yet to see.

Subprime mortgages have now been credited for bankrupting well over 135 lenders and seriously damaging operations at many major mortgage firms. They've reportedly wiped out 5 hedge funds, tens of thousands of jobs, and have led to millions of foreclosures with millions more on the way. And, as if that weren't enough, subprime mortgages are also blamed for massive volatility in the stock, bond, credit, futures, and real estate markets here in the US and around the globe. Some say losses in the mortgage securities market alone could reach hundreds of billions of dollars this year.

Thou shalt steal good marketing ideas only from successful competitors. Add your personality and experience to the mix and make it your idea. Just be sure you do not violate any copyright laws.

Thou shalt set aside time to build a web presence and spend a little time each day promoting your site and building your Mortgage Business. The Internet has come of age and you can either join and prosper as a result, or be left behind to ponder your demise.

Yes, I'm very much a believer in continuing education and self improvement. There's no doubt you need to allocate time every day to do these things too. But, this 30 minute block of time we are scheduling is your "marketing time" and has a direct bearing on your loan originations, your pipeline and your bank account. Start this little program today, your mortgage marketing success depends on it.

What does this mean to you and your mortgage?Sellers: If you're planning on selling your home, be prepared for an even smaller pool of qualified buyers. While some experts predict a settling of this credit crisis over the coming year, tightened credit guidelines and diminishing mortgage products could knock out as many as 15%-30% of potential qualified buyers.

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