A recent survey we conducted showed that 62.1% of mortgage originators feel that First Time Homebuyers are still the most popular and profitable niche. It stands to reason that it is still a profitable niche for real estate agents as well. Every one of these first time homebuyers needs an agent, right? ~Source: In Touch Today 2008 Client Survey
Four Steps to Target First Timers
Step #1:Get a List
For any marketing campaign to be successful, you must have a targeted list to start with. Contact a list company in your area and ask for a list of folks in your geographic area that currently do not own a home. Keep in mind you will most likely need to clean up this list after your first mailing since many renters are constantly on the move.
Step #2:Start Contacting Them
Get in touch with your list ASAP! The best (and least expensive) way to begin educating and building a relationship with these potential clients is to send postcards. Send one outlining some of the benefits of owning a home. Send another explaining the brand new first time homebuyer tax credit. You could even partner with a mortgage originator in your area and send out postcards together (effectively reducing your cost by 50%).
Step #3: Educate For Free Hold a free educational seminar on buying a home. For best results, make the seminar an ongoing event – every week or month at the same place and time. Don’t forget to invite your favorite referral source to present with you. Double you exposure and cut your costs in half yet again! Send a postcard announcing the seminar to your databases and hang posters or distribute flyers at local businesses (such as grocery stores).
Step #4:Give Them Something to Think About
Hand out free educational brochures at your seminar. Use them to get prospects to raise their hand in interest by offering them for free on your postcards. Keep a supply of them in your office so new clients can grab them on their way out. Include them in welcome packets. Don’t forget to give a supply to your professional referral sources to hand out to their clients.
Follow these four steps and you may be surprised by the amount of business you can generate – all while helping first time homebuyers make the most important purchase of their lives. What could be more rewarding than that?
© 2008 by In Touch Today Corporation and its licensors. This article may be reproduced only in its entirety. In Touch Today is a marketing company based in Denver, Colorado, that assists professionals in increasing their repeat and referral business as well as building professional referral sources and prospecting new clients. www.intouchtoday.com |
