Mortgage Broker Marketing Tips

Mortgage Broker Marketing Tips

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 preforeclosure business . 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 :

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

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