Archive for September, 2011
If you are looking for a first time home buyer list, you’ve clicked on the right place.
Gone are the relaxed underwriting standards of yesteryear when you needed little more than a Social Security card and claim to have a job in order to qualify for a mortgage. With lenders being tighter than ever, it’s vitally important for you to reach only the most eligible candidates for home ownership, and credit score is the paramount consideration when reviewing loan applications. Our first time home buyer lists can zero in on homeowners with excellent credit.
There are a plethora of homebuyer leads on the web. The biggest negative feedback we’ve received about internet based leads is the low conversion rates because their credit history is in the dark. You can spend a lot of money to get in front of one would-be homeowner that filled out a website form as a last resort because they were repeatedly denied a loan through other channels. You can avoid this costly mistake by focusing on pre-screening. In a word, pre-screening is what we do.
With interest rates as low as they are, FHA loans have surged in popularity. While a FICO score of 620 is the minimum requirement, many lenders raise the bar, so we will be looking for consumers that have exact scores north of 640.
Like credit issues, income can stop a deal dead in its tracks. We can predict income based on the consumer’s auto loan payment. Auto payments of $350 to $600 are the most accurate barometer of income. We can also narrow the data down to credit utilizations south of 50%, which will improve the DTI ratios once the application reaches the underwriting department.
Armed with such a targeted set of data from the leading credit reporting agencies, a pre-approval mailer is a tried and true method to generating a brisk response. The letter informs your potential client that they have been pre-approved for an FHA loan and matches them with a REALTOR to go “house shopping”.
To bounce some other ideas around, call a mortgage marketing expert at 1-866-490-3459 or send us an e-mail.
Hello all, hopefully upon clicking here your real estate business is thriving.
There’s no doubt that You Tube is a mass medium with over 35 hours of video being uploaded every minute. You Tube is “always on” and you can watch just about anything imaginable on demand, it’s free, and you can watch it anywhere. And in today’s fragmented media, younger home buyers and sellers aren’t flipping through the newspaper or watching television, they are zipping through cyberspace and congregating on You Tube, where you as the agent can communicate with them on their own turf.
I view my job as a messenger of what has worked for other agents in the sphere of marketing to distressed homeowners and so I want to share with you a hugely profitable You Tube video that one real estate team launched that has generated quite a lot of new short sale listings. Take a look and my thoughts follow afterword.
The viewer flows nicely with the question and answer format of this team, and the interview format breaks up the monotony of just one person talking. But what’s more is this duo establishes trust and credibility by educating homeowners on all of their options. The clip is more advisory, it is NOT a sales pitch to list their home with them. Homeowners that facing challenges want answers, they don’t want a sales pitch. The video does an excellent job speaking to the needs of those mortgagors.
This video is also a testament to how direct mail and online marketing can work in tandem and actually create synergy. You can use your mail piece to drive the eyeballs of struggling homeowners to a You Tube page to learn more about their options. Your mail piece doesn’t ask the homeowner to list the home with you – it merely asks them to click on a video in a medium they know very well, You Tube, to get acquainted with some unfamiliar terms and get the answers to questions that are on their mind during this trying period in their life.
Here’s a fascinating statistic – an overwhelming majority of readers will view the “P.S” first, before they read any other part of the letter. Why? Because the postscript is viewed as the most personal component of the mail piece. Consider inviting your recipients to your You Tube page in the P.S. to give your video maximum exposure.
Unless you own a piano-playing cat or a sneezing baby panda, your video may not go viral and get millions of hits. But it can put more real estate signs in the ground.
The biggest determinant of your marketing success is the list. As partners of the major credit reporting agencies, we can target distressed homeowners with surgical precision. To learn more, visit www.preforeclosuredata.net.