Niche Marketing for Mortgage & Real Estate Professionals

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Niche Marketing for Real Estate and Mortgage Professionals

 

 

2018 Tax Reform Bill & the Effects on Divorce & Mortgage Financing

Jody Bruns - Wednesday, January 03, 2018

2018 Tax Reform Bill is bringing a lot of changes to tax payers in the United States. One of the bigger changes that will affect the divorce market is that alimony/maintenance will no longer be tax deductible.

 

This carries a greater impact than just the removal of the maintenance deduction for paying spouses. There will be a huge impact on how a divorcing borrower will qualify for a mortgage. Actually, if they pay maintenance they may have a much tougher time qualifying for a mortgage at all.

 

Additional effects include the mortgage interest deduction for a spouse paying the mortgage interest deduction when title to the marital home is still owned jointly.

 

Be sure you are up to date on how the changes will affect your divorcing borrowers as well as how you approach a mortgage with a divorcing client.

 

Jody Bruns

Innovator vs. Competitor

Jody Bruns - Monday, December 18, 2017

 

Do you see yourself as an Innovator or a Competitor? Here’s the difference.

 

Competitors want everything on a level playing field. They don’t want anyone else in their market to have a better marketing tool for listings or a better first time homebuyer program. They want the same tools and methods as everyone else.

 

Innovators want to be different. They want to stand out from the crowd and be known for something that differentiates themselves from the competition.

 

For example, working with divorcing clients is a great way to become known as the innovator in your market place. I joke when presenting live classes to real estate and divorce related professionals that by the end of the class, they will think of me as having the word “Divorce” stamped across my forehead. I don’t have a problem with that because in a very competitive market, you need to be the first person your referral partners and/or sphere of influence thinks of in special situations, like divorce and real estate. This allows you to get your foot in the door that might otherwise be closed to the simple competitor.

 

Think of it as your Perception of Value. Perceived customer value is a concept that points out specific benefits that a customer believes you bring to them directly through your relationship with them as well as how they will benefit from doing business with you.

 

There is a difference between “Perceived Value” and “Actual Value”. The actual value is a measure related to cost, whereas perceived value is what your client believes your services are worth. As a mortgage or real estate professional – have you given thought as to how you want your clients to perceive the value of your services? Have you given any thought as to how the perceived value of your strategic business partners transfer over to YOUR perceived value in your client’s eyes?

 

Niche Marketing opens the door to being the Innovator and not the Competitor.

 

Visit www.JodyBruns.net for more information on niche marketing in the real estate and mortgage industry.

 

 

 

REPLAY - Webinar: Niche Marketing for Mortgage Professionals

Jody Bruns - Sunday, December 10, 2017

Replay Jody's Webinar: Niche Marketing for Mortgage Professionals

 

https://www.youtube.com/watch?v=mEu2mtH1Luk


 

Building a Corporate Benefits Referral Program

Jody Bruns - Friday, December 01, 2017

Have you thought of the benefits of creating a Corporate Benefits Referral Program?

We all have had those moments where we wonder where our next transaction is coming from. We constantly reach out and market to our sphere of influence and referral sources hoping for a new referral that turns into our newest live client.

The problem with this cycle is that we are focused on building our business one client at a time when we should be focused on business one company at a time! Would it relieve any stress on you personally, if you could count on a specific number of transactions annually from a specific source?

Think about this:

The current home ownership rate is 63%

According to FNMA, an employee is expected to use a mortgage professional once every 5 years.

According NAR, an employee is expected to use a licensed real estate agent once every 7 years.

For every company that has 100 employees:

  • 63 currently own homes.
  • 13 will need the services of a mortgage professional every year.
  • 9 will need the services of a real estate professional every year.
Multiply this by 4 companies you might have corporate benefits referral programs for!

For more information on building a Corporate Benefits Referral Program, please visit 

http://www.jodybruns.net/b2breferral.html


 

 

 

Why Every Real Estate & Mortgage Professional Needs 3 Strong Niches

Jody Bruns - Thursday, November 30, 2017

Why Every Real Estate & Mortgage Professional Needs 3 Strong Niches

Choosing which aspects of the real estate industry to focus your business doesn't need to be as hard as it seems. Every real estate and mortgage professional should have 3 strong niches as the foundation of their business plan

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Niche 1: Stick to What You Know Best

Where does your knowledge and experience come from? What experience and knowledge did you base your decision to become a real estate or mortgage professional on in the first place?

Focus your primary niche on what you know best. Do you have a commercial background? Then focus on commercial property. Do you come from the hospitality industry? Then focus on resort living or second homes. Do you have a building or construction background? Then focus on new construction or renovation.
 
The key is that you will never fail at what you know.
 
Niche 2: Chose a Niche that you are Passionate About
 
The dictionary definition of passion is "a strong feeling of enthusiasm or excitement for something or about doing something." Your secondary niche should focus on something you feel very strongly about. It is always easier to focus, learn and be motivated when it is based upon something you are very passionate about.
 
Identifying your niche of passion doesn't need to focus on a specific area of real estate or mortgage financing. Your niche of passion can be working with cyclists if you are an avid cyclist.
 
If you have a military background or are from a military family, your passion may be working with our veterans and military families.
 
I'm sure you get where I am going with this - you can build your secondary niche out of networking with other who share your passion.

Niche 3: Go Big with a Niche that brings in the Closings!
 
You have to dream big to go big and reap the rewards. There are many opportunities in the real estate and mortgage industries to find a very lucrative niche. Finding this specialized niche; however, will take some research, time commitment to learn the industry, language and build your network.
 
Your big niche may seem difficult to break into and leave you wondering how to make it your own. These bigger niches should be part of an industry that is big on it's own yet needs a strong real estate or mortgage professional to raise the level of service needed within.
 
For example, the divorce industry is huge. With over 2.4M divorces every year in the United States and 70% of all divorces involving real estate, the divorce market can be a very lucrative niche for both real estate and mortgage professionals.
 
The Probate industry is a 6 TRILLION Dollar industry - building a niche working with probate attorneys and listing estate owned real estate can be huge!
 
Being successful at almost anything starts with knowledge about what you are doing. Niche Marketing is no different!
 
Our niche marketing guides and marketing are focused on the 3rd Niche. Niches that require knowledge, marketing and networking. Please checkout our resources for real estate and mortgage professionals on defining your own niche in multiple areas to help boost and stabilize your referral pipeline.

Visit www.JodyBruns.net for more information on creating your Big 3 Niche!

 

 


The Cost of not being at Capacity for Real Estate & Mortgage Professionals

Jody Bruns - Wednesday, November 29, 2017

Are you at your Maximum Capacity for closed transactions every month?

Maximum Capacity: The number of closed loans or real estate sales you personally have the ability to close in a given period.

If you have the ability to close 20 transactions each month but are only closing 15 – you are NOT at maximum capacity. You have a “Capacity Gap” of 5 closings.

What is the significance of identifying your Capacity Gap? If you have a Capacity Gap of 5 loans every month and your average commission is $1,800 per loan – you are losing $9,000 every month or $108,000 every year in lost revenue.

Most mortgage and real estate professionals look at their monthly closed loan volume backwards. They look at what they closed rather than what they lost. When you look at your closed volume from a capacity point of view, then you begin to identify and focus on opportunities available to shrink the Capacity Gap.

The obvious next big question is: Where will you find those additional transactions to meet your maximum capacity?

First - identify your current referral sources:

Past Clients - this is huge in the current market because rates are so low; but will you be able to pull 5 new loans consistently every month from past clients once rates start to rise again or you successfully refinanced all of your past clients?

Real Estate Agents - always a great source for your purchase business; however, the real estate purchase market is cyclical and many agents are still elusive with having their own lender, etc.

What are your other options?

Should you consider diversifying your mortgage referral sources into another strong referral market? The answer is Of Course! - you should always look for new avenues to create strong and consistent mortgage and real estate referrals - especially when you are not at your maximum capacity.

Close your capacity gap by focusing on a narrow market or niche! visit www.JodyBruns.com - Niche Marketing Resource for Real Estate & Mortgage Professionals

Corporate Benefits Referral Program for Real Estate and Mortgage Professionals

Jody Bruns - Monday, November 27, 2017

 

Corporate Benefits Referral Program

Create a successful Corporate Benefits Referral Program for employees and owners seeking real estate and mortgage services.

As a real estate or mortgage professional, adding a Corporate Benefits Referral Program to your business plan provides you the ability to predict with greater certainty your future pipeline of referrals. When building referral relationships with companies, unions, associations and not-for-profit organizations, you can create long standing and loyal relationships resulting in strong consistent referrals.

Understanding and presenting the benefits to employers on offering a real estate and mortgage benefits package to their employees is only one step in creating a successful Corporate Benefits Referral Program. Real Estate and Mortgage professionals can create a successful and tailored corporate benefits program to corporations in five easy steps. Identify. Introduce. Initiate. Interview. Launch.

The easiest part of developing a Corporate Benefits Referral Program may be determining your unique benefit offering, One of the toughest parts of developing your referral program is presenting the benefits to the employer and decision makers.

Program includes detailed information on creating a Corporate Benefits Referral Program including business targeting, meeting points and marketing Power Point presentation.

www.JodyBruns.net/b2breferral.html

 

 

 

 

Just Released! The Lender Ate My Condo

Jody Bruns - Sunday, November 26, 2017

JUST RELEASED!

The Lender Ate My Condo - Become the condominium expert in your market!

Mortgage Lenders are always getting the blame when a condo deal dies because of the property. Use this program to your advantage and target real estate attorneys, real estate professionals and condo buyers as the Condo Mortgage Expert in your market!

Build Credibility: Becoming the subject matter expert requires more than just an understanding of product guidelines. Demonstrate a deeper knowledge and commitment while standing out in the industry by communicating your expertise and credibility when working with condos and townhomes.

Differentiate Yourself in the Field: This program is designed to provide the candidate with more than just a thorough understanding of the financial challenges and requirements for specific property types in the marketplace. In order to become an expert you need to understand the history and cycles of the industry, The Lender Ate My Condo program provides you will 100% of the information needed to become and market yourself as the condo expert!

Comes complete with a strategic guidebook and corresponding marketing Power Point Presentation for marketing to real estate attorneys and real estate professionals.

www.JodyBruns.net/condoniche.html

 

 

 

Welcome to Niche Marketing for Real Estate and Mortgage Professionals

Jody Bruns - Wednesday, November 22, 2017

Welcome! I am super excited you have visited our new blog, "Niche Marketing for Real Estate & Mortgage Professionals!" I have focused my business on specific niche marketing for the past 25+ years. Niche marketing has given me a steady referral stream and consistency in my mortgage business.

I have helped many real estate and mortgage professionals build very strong businesses in many niche markets and I am excited to share these same practices and successes with you!

Please be sure to sign up for our newsletter, "Building a Niche", and don't miss an opportunity you might not have known about!

Much success,

Jody

Niche Marketing for Real Estate and Mortgage Professionals

Jody Bruns - Wednesday, November 22, 2017

 

80 percent of buyers would prefer to work with a real estate or mortgage professional who’s focused on a particular property type or niche.

A survey of buyers and sellers by the NATIONAL ASSOCIATION OF REALTORS® reveals that 80 percent of buyers would prefer to work with a real estate and mortgage professional who’s focused on a particular type of property or niche. While specialization has always been important, industry leaders say it has taken on an even greater importance in recent years—and not just because of the challenging economy.

How does your marketing plan measure up to the survey by NAR?

  • Do you market yourself to the masses?
  • Are you making cold calls?
  • Are you constantly reaching out to your sphere of influence for referrals?
  • Is your focus on being the 'go-to' guy for real estate or mortgages in your neighborhood?

The problem with this is your competition is doing the same thing!

Can you identify with these three problems?

  1. There is a housing inventory shortage in your market.
  2. The response rate to your marketing efforts is very low or unmeasurable.
  3. Your referral sources are sporatic and cyclical.

Niche marketing can be a solution to these problems.

  1. Many niches are completely unrelated to the typical real estate demands. For example developing a niche working with estate attorneys and working with estate and probate clients.
  2. Niche marketing is very targeted. Your marketing dollars result in higher response rates because your target audience is smaller and when it is focused your results are higher because your message can be very direct.
  3. Your referral sources know who to refer to you because they now understand what your focus is.

I have specialized in working with specific niches during my career and have helped many real estate and mortgage professionals identify, define and develop their own specific niches and I would like to share these same strategies and successes with you.

My book, "The Unfair Advantage of Niche Marketing," shares with you not only how I became known as the expert in my niche, Divorce Mortgage Lending, working with divorce attorneys but how I also turned my expertise in this niche into a national certification program for both real estate and mortgage professionals.

This book not only provides you with an inside look at the Top 15 Niche Opportunities in real estate and mortgage financing; it helps you structure and jump start your own successful niche.

You cannot be all things to all people. The real estate and mortgage industry is just way too big to generalize your services and products while still expecting to have consistent break out months, years and sustainable success. You must find a way to differentiate yourself from your competition. You must find a way to become focused on your marketing and your target client and or referral sources.

"The Unfair Advantage of Niche Marketing" is only for the real estate and or mortgage professional who wants to stand out from the competition, build a steady stream of referrals resulting in a higher income with more focus an fun in their business plan!

The majority of real estate and mortgage professionals have a general all over the place marketing strategy focus on real estate listings, home buyers and refinances. Their typical audience is family, friends and building sphere of influence. Those who desire a more focused audience and greater monetary success need a defined niche. A defined niche that they not only relater to but one they can become passionate about.

Please checkout our resources for real estate and mortgage professionals on defining your own niche in multiple areas to help boost and stabilize your referral pipeline.

www.JodyBruns.net

 

 

 

 

 

Contact Jody

 

Direct: 720-692-7261

Email: Jody@JodyBruns.com