 President's
Corner
In the next few
weeks of my corner I am going to attempt to
explain the general process of the note business as it relates to a note broker.
The process is to Find them (the note holders), Expose them, Educate them
and Support them. If you are able to
complete the entire process you will then earn your F.E.E.S.!
So this week let’s talk about finding them.
Of course when we say Find ‘em we are talking about marketing.
I could write a book on marketing for the note business, oh and I have
Every
Single Profitable Note Marketing Idea in the World (almost), but here
I’m just going to touch on a few of the ways that you might consider putting
in your marketing plan.
Remember you must have a written marketing plan and you must have at
least 3-5 different marketing methods working for you at any one time.
A good marketing plan for finding seller financed note holders might
include direct mail, classified ads, referrals and a website (the website will
be key later when you are exposing, educating and supporting them).
With a direct mail approach you will need to make sure it is targeted and
efficient. Direct mail can be very
expensive but if done properly it can also be very profitable.
Especially if you offer the note holders something for free to educate
themselves such as a
Note
Holders Handbook. Direct
mail is a program not a one time deal. You
will need to do it consistently for at least 6 months to start seeing any
regular results. Sending out one
mailing of 500 letters will most likely get you nothing.
Classified Ads also must be targeted and strategically placed where you
think people will be more likely to carry back a note such as outlying rural
areas around major cities (i.e. not in
Los Angeles
but maybe in
Lancaster
or Pearblossom). The key is
to put the ad in for several weeks, take it out for several weeks and put it
back in on a regular basis. Putting
an ad in one paper for one weekend will get you nothing.
Everyone will begin to build a referral network if you haven’t already.
Attending networking meetings, contacting real estate professionals and
mortgage brokers is a start as well as keeping your name in front of key
individuals who have worked on a transaction with you in the past.
In conjunction with the above three methods is your website.
With all of the above you should be able to direct them to your website
for more information, to see some examples and to obtain some options for their
note. Remember people will go to
your website to learn more at their leisure rather than call you during
inconvenient office hours.
Please note that no where did I mention to go to the internet and pull
off notes that are posted on internet boards.
This is the most absolute erroneous, off track and incorrect way of
trying to do this business.
That should give you the essence of what is involved in finding them.
Next week we will touch on exposing them, the second point in the
process of earning F.E.E.S. in the note business.
Remember, Success Demands
Action!
Keep on marketing, it’s going to
work! TWITA!
|
