How to farm your existing client data base....Orphaned Clients and ideas to bring their business back to life....

Amp Up Your Database
How To Capture "Orphaned" Clients

 

Since the housing crisis began back in August 2007, over 400,000 Realtors have "left the building." One reason for this, according to Lawrence Yun, National Association of Realtors Chief Economist, is that many who flocked to the industry for a quick buck around five years ago have left the business to pursue the same elsewhere.

But there are many different reasons people leave the business—from relocation to retirement—so who's looking out for all those former clients now?

The one who keeps in touch with them is the one who will win their future business.

Follow these easy steps to capture these potential clients:

1. If an agent is leaving or has left the business, ask if he would be willing to leave his clients in your care. If his answer is yes, ask if he would vouch on your behalf with an introduction letter. Volunteer to create this intro marketing piece yourself, or it may never happen. Then before he leaves, ensure to collect his list of database contacts either on a spreadsheet or out of his contact management system.

Alternatively, if you're part of a real estate brokerage, ask your broker for a list of "orphaned" accounts and database contacts.

Add them to your contact management system and start a marketing campaign to this group.

2. Send your introduction letter, explaining to this new group of clients that their former agent has left the business, that you'd like to keep in touch with them, and that you'll be calling in a few days to say hello.

3. Follow up with a phone call as promised to obtain an idea of their status, and request permission to gather their email address to keep them up-to-speed on what's happening in local real estate. This will also be their permission to be added to any sort of email marketing campaigns.

If anyone is going to add a slew of new names to their database by following up with these clients—while reaping the future income and referrals they can bring—shouldn't it be you? 

WWW.TRIADLENDING.COM 

PRE-QUALIFY HERE

Client Testimonials and how they can help your business success.....Marketing Tips 2015

Testimonials:
How to Market Success

Testimonials are not about bragging or tooting your own horn. Sharing your successes with your client base and associates is an essential part of growing your business and your reputation within the community. And a great way to do this is by utilizing testimonials in your marketing efforts. Not only do testimonials get attention, they can also create a sense of confidence in the idea of doing business with you.


The following are a few simple steps for gathering positive feedback from your clients:

• When clients thank you for completing a phenomenal deal, ask them to write a testimonial for you about their experience.
• If they're too busy to write it themselves, write it for them. Then have them simply approve and sign it.
• Make sure you secure their permission to use the testimonial in your marketing efforts.
• Create a file with as wide a variety of testimonials to draw from as possible.

Now it's time to leverage what you've gathered. Dr. Robert Cialdini, best-selling author and nationally-recognized researcher, has analyzed data on this topic and has discovered that the biggest and best testimonials are not always the most persuasive when it comes to increasing business.

Instead, Cialdini suggests that finding the right testimonial, one that your clients can strongly relate to, is much more effective in creating confidence. Cialdini believes that by obtaining testimonials from an array of clients, you'll create a diverse collection of simple, yet effective marketing messages that will hit the specific bull's-eye for each and every potential client.

For example, let's say you were to use a testimonial as part of a direct-mail flyer to first-time home buyers and, in your testimonial, your satisfied clients wrote about how you helped them build the retirement home of their dreams. Although your clients may have raved about your ability in that transaction, the message doesn't fit the specific needs and desires of a first-time borrower. Instead, select from your library of testimonials something that addresses the well-known fears of the home-buying process and how you were able to solve them. Something more like this:
"I was nervous about buying my first home, unsure if I could make the leap from renting to owning. But, thanks to John Real Estate Agent, I'm finally living the American Dream."
 

WWW.TRIADLENDING.COM

PRE-QUALIFY HERE

Some unique closing gifts & ideas for your clients...

Thank You for Your Business:
Unique Closing Gifts for Your Clients

 

Sometimes, a simple note is not enough to show your gratitude. Housewarming gifts are a great way to remind your clients that you're there for them, long after the paperwork is done. And, like business cards or branded mailers, these gifts are another way to market yourself to potential clients and their referrals. The following are a few great closing gift ideas your clients will talk about to everyone they know:

Decorated Dinnerware – A flock of pottery shops have sprung up across the country where you can paint ceramic pieces from little statues to plates and coffee mugs to giant cookie jars. Register your clients at one of these stores, so they can decorate their own dinnerware. Every time they use these items, they'll think of how you helped them reach their dream of homeownership. For a state-by-state list of these businesses in your area, visit www.paintyourownpottery.net.

Services Directory – If your clients are new to the area, why not compile a directory for them as a unique closing gift. Imagine a book that lists and even maps out all of the restaurants, markets, gas stations, movie theatres or playhouses in their neighborhood. Include business cards from emergency services like a plumber, electrician, landscaper, and handyman and create some outbound referrals. Be sure to brand the book with your contact info because this book just might become their go-to guide for all of their home and entertainment needs.
Basket of Goodies – Instead of the typical basket of fruit many agents give their clients as a closing gift, try something different. Fill a basket with pancake mix, muffin mix, jam, Earl Grey tea or coffee, a couple mugs, a spatula, oven mitts and anything else they might use in the kitchen. Each time your clients cook breakfast, bake a cake, or just relax with a hot cup of coffee or tea in their new home, they'll remember you and the great service you provided.

Memory Mug – Here's a great and inexpensive closing gift your clients will never forget. Take a picture of their new home and add to it their name and the date that they purchased the home. Then put the picture into one of those customizable coffee mugs and give it to your client with a coffee gift card or a pound of coffee, tea, or hot cocoa. Again, you can add your name and logo to the back of the mug, and your clients will think of how you helped them obtain their dream home every time they take a sip.Free Magazine Subscription – Not only do magazine subscriptions make a great closing gift, they're also a great marketing tool. Each month for the next year, your clients will think of you every time they get their latest issue in the mail. Some companies, such as www.magazineclosinggift.com, will allow you to add your name, logo, or even a message to the magazine subscription of their choice. Many subscriptions are less than $20, so it's inexpensive too. During the transaction, try and learn about your client's interests and hobbies. This will show them how much you care, and it will help you select the right magazine subscription as well. 

WWW.TRIADLENDING.COM 

 PRE-QUALIFY HERE

What business professionals should know about Twitter... Tips for everyday users....

 

The rules of marketing remain constant, but the media has changed drastically.Consumers have adopted social media quickly, with Twitter growing faster than most. But don't just open a profile and start tweeting! Here are six ways you can optimize your Twitter strategy for maximum business attraction:

• What's In A Name? Choose your Twitter ID carefully–make it memorable and appropriate for doing business. Your own name is always a good choice. Make sure email and social media user names are similar to avoid confusion. Upload your photo, too: Profiles with photos on average have 10 times more followers.

• Wash, Rinse, Retweet. When you embed outside photos, links, and videos into your tweets the likelihood of getting retweeted, attracting more followers, or getting a call goes up exponentially: 19 percent of all tweets have links, but 57 percent of those get a retweet. Also, asking for retweets with "pls RT" or "please RT" or "Please Retweet" scores 50 percent of the time.

• Verbs–That's What's Happening. "The Science of Twitter" webinar from HubSpot says verbs and adverbs get far more retweets than nouns or adjectives.

• Hashtag Heaven: Hashtags make tweets searchable. Make sure to incorporate real estate terms into your hashtags: #RealEstate, #Realtor, #RE, and #NYRealEstate (or whatever state of the Union) work best.

• Your Ad Here. You want as much organic traffic as possible, but inexpensive Twitter ads can help you target leaders and key demographics for your tweets. Check Twitter for Business for details.

• Rules of Engagement. People refer to Twitter as a "micro-blog" for good reason, and many of the same rules apply. Post too seldomly and you'll lose readership, post too much and lose engagement. Most retweets occur between 3-5 p.m. EST; readership declines by 50 percent after the third tweet in a single day, regardless.

WWW.TRIADLENDING.COM

PRE-QUALIFY HERE

Mortgage Insurance..Why do you need it on a Home Loan? What is Mortgage Insurance?

Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance. Mortgage insurance lowers the risk to the lender of making a loan to you, so you can qualify for a loan that you might not otherwise be able to get. But, it increases the cost of your loan. If you are required to pay mortgage insurance, it will be included in your total monthly payment that you make to your lender, your costs at closing, or both.

Warning: Mortgage insurance, no matter what kind, protects the lender –  not you –  in the event that you fall behind on your payments. If you fall behind, your credit score may suffer and you can lose your home through foreclosure.

There are several different kinds of loans available to borrowers with low down payments. Depending on what kind of loan you get, you’ll pay for mortgage insurance in different ways:

If you get a conventional loan, your lender will arrange for mortgage insurance with a private company. Private Insurance rates vary by down payment amount and credit score but are generally cheaper than FHA rates for borrowers with good credit. Most private mortgage insurance is paid monthly, with little or no initial payment required at closing.

If you get a Federal Housing Administration (FHA) loan, your mortgage insurance premiums are paid to the Federal Housing Administration (FHA). FHA mortgage insurance is required for all FHA loans.  It costs the same no matter your credit score, with only a slight increase in price for down payments less than five percent. FHA mortgage insurance includes both an upfront cost, paid as part of your closing costs, and a monthly cost, included in your monthly payment.

If you don’t have enough cash on hand to pay the upfront fee, you are allowed to roll the fee into your mortgage instead of paying it out of pocket.  If you do this, your loan amount and the overall cost of your loan will increase.

If you get a US Department of Agriculture (USDA) loan, the program is similar to the Federal Housing Administration, but typically cheaper. You’ll pay for the insurance both at closing and as part of your monthly payment.  Like with FHA loans, you can roll the upfront portion of the insurance premium into your mortgage instead of paying it out of pocket, but doing so increases both your loan amount and your overall costs.

If you get a Department of Veterans’ Affairs (VA) loan,  the VA guarantee replaces mortgage insurance, and functions similarly.  With VA loans, there is no monthly mortgage insurance premium. However, you will pay an upfront “funding fee.” The amount of that fee varies based on:

• Your type of military service
• Your down payment amount
• Your disability status
• Whether you’re buying a home or refinancing
• Whether this is your first VA loan, or you’ve had a VA loan before

Like with FHA and USDA loans, you can roll the upfront fee into your mortgage instead of paying it out of pocket, but doing so increases both your loan amount and your overall costs.

Tip: Once you’ve paid off some of your loan, you may be eligible to cancel your mortgage insurance. If you are able to cancel, you won’t have to pay the monthly cost.   

Warning: As an alternative to mortgage insurance, some lenders may offer what is known as a “piggyback” second mortgage. This option may be marketed as being cheaper for the borrower, but that doesn’t necessarily mean it is. Always compare the total cost before making a final decision.

WWW.TRIADLENDING.COM

PRE-QUALIFY SECURELY HERE