Rates are increasing, which means there is a shift occurring from a refinance market to a purchase market: Every time rates go up, the industry moves to a purchase market. Fact: They are rising again. And, it might be a while before the housing market increases enough for another refinance boom.
The difficulty with marketing for purchase business
The difficulty is that there is really no way to tell when someone is “interested” in purchasing anything. It’s a thought, and it cannot be read. Even Google’s algorithms cannot read people’s minds … yet. So the real question is: How do you find people who are genuinely interested in purchasing a home?
The simple answer is … you can’t. But luckily, we are moving into Web 3.0 which brings the Internet and traditional marketing techniques together. What this does for you as a mortgage professional is provides people who are genuinely interested in purchasing a home. We know this because they’ve gone online and have asked to be contacted by a loan officer.
Now, you have interested people who want to buy, but how do you know if they qualify?
The solution to this key problem lies in cutting-edge software systems that marketing companies have. It’s within these systems that they can combine Internet leads with traditional data files, and thus, traditional marketing strategies. This process produces a lead that’s interested in purchasing a home, and is qualified to buy (we know this from a combination of Internet data, traditional data files and consumer surveys).
How do you put all of this together to produce quality, interested prospects for yourself?
That’s completely up to you. One of the best parts about this new style of marketing is the versatility that it offers. Depending on how you best close new business. There are several places to get quality Internet leads for purchase prospects in all 50 states. You can partner with a call center to call on past and current leads to produce live transfers. You can buy bulk aged Internet leads also called (Opt-in Data) and send them direct mail. Or, you can call a marketing firm that combines all of these verticals and is already producing leads throughout the nation.
In all of the above referenced scenarios, you get a quality lead that closes at higher rate … producing closed loans in your area at profitable acquisition costs.
Medford, Ore.-based TagQuest is a full-service marketing firm created specifically for the ever-changing business world. TagQuest assists companies with their direct marketing, advertising and branding needs, and knows what it takes to generate quality customers and, most importantly, how to retain those customers for years to come. TagQuest brings forth a unique opportunity to utilize our experience and expertise in varying consumer sales and marketing environments. For more information, call (866) 376-5540 or visit Tagquest.com.