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Benefits of Loan Officer Training
[July 12, 2008] by Broker-Trainer
Filed under: loan officer training

Over my last several posts, I’ve introduce some of the basics of marketing for a preforeclosure based business, one that can produce thousands in profits. I’ve also mentioned on many occasions what you may already see as an obvious reality, that being the current challenges in working the mortgage business. 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 effectively market to new clients, profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?

I’ve also introduced my system for working this business that works and that works consistently! If you really think about it, a foreclosure investment course (or any real estate investment course for that matter) should focus on giving you repeatable results, not just something that may work for a few select people.

Now, let’s continue this next series of posts, which wraps up the series on business marketing for preforeclosures. Since we’ve now covered the 3 M’s of marketing and details of setting a marketing budget, it’s time to seal the deal and execute a plan. A good plan is based upon action and execution so let’s see where we are at for this week.

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

Let me reemphasize that your business is only as effective as how you market it. For this reason, having a solid marketing plan is essential to capturing as many quality leads as you possibly can. A marketing plan utilizes the concepts we have discussed over the last several posts and boils down to nine key steps:

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1) Set a marketing budget that meets your current financial capabilities and remember that marketing is an investment in your business, not just another expense.

2) Outsource the “busy work” part of your marketing campaign (e.g. stuffing envelopes or handwriting post cards) to maximize your time to work deals

3) Identify your target markets for your campaign, especially if they are in addition to your standard pre foreclosure property lists.

4) Identify areas to scout for properties to build a database within your target market(s)

5) Build property lists for each phase of your marketing campaign (e.g. rundown houses, pre foreclosures, 60-day NOD list properties)

6) Make a decision as to what your primary marketing message will be. This may vary slightly among your different property lists.

7) Decide what marketing media you will use for each part of your campaign.

Create your total campaign strategy (including locations and timing for different types of media)

9) Get out there and do it! Be prepared to crank out the marketing and the results will speak for themselves.

All of these steps are essential to executing an effective and profitable marketing campaign. They all hinge on you taking action so don’t forget that this is just a concept until you go out there and make it happen!

Now that we have completed the second of nine sections in this valuable series of posts that I’m offering to you, I’m sure you can see how my free foreclosure investment course allows you to follow this business at a pace that matches your lifestyle. 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

To get a FREE Short Sale Course for Mortgage Brokers, go to:

Short Sales for Brokers

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