Cheap Mortgage Leads

This is an "old school" marketing technique that can still result in a boatload of cheap mortgage leads for the savvy mortgage professional.  Infact, many supposed "offline" marketing strategies are working even better now because so many salespeople and brokers are simply focusing on online marketing.

And online marketing is great, but if that's all that you are doing, then you are leaving a mightly hefty plate of profits on the table for your competition to easily eat up.   Smart mortgage professionals are using a healthy balance of offline and online marketing strategies to maximize the amount of commissions they can make.

The Free Report/Classified Ad Technique:

1.  Determine which type of client you want to attract.  The content of the free report (that you will give away to entice new prospects) will be tailored to the specific kind of business you are looking to close.  It's not effective to try and create a free report that will be targeted toward everyone.  For this marketing strategy, choose one type of prospect to attract (ie.  refinances, first time home buyers, poor credit prospects, etc).

2.  Compile a free 3-5 page report targeted at your desired prospect.  There are a few ways of doing this step.  You can either write it up yourself, or hire someone else to write it for you.  Another option is to use the vasts amounts of free content available to you for syndication.  If you Google the term "article directory", you will get hundreds of websites that are eager for you to use their quality content for your marketing purposes.  As long as you give credit to the author, you should be able to use several relevant and informative articles in order to create your short giveaway report.  Don't forget to include your contact info in the beginning and end of the report.

3.  Place a small classified ad in the newspaper of the nearest large metropolitan area.  Sometimes this is not possible.  But if you live near a busy metro area like Miami, Chicago, Los Angeles, etc, take full advantage of this relatively low cost method of advertising as a way to generate cheap mortgage leads.  In these cases, you have the potential of getting your classified ads in newspapers that have millions of daily readers.  Not to mention that the cost to advertise in the newspaper of a metro area newspaper is not much more expensive than advertising in your average sized town.

4.  Be sure to put a strong call to action in your classified ad.  When it comes to creating an effective "call to action", the best route is to be as direct as possible.  Tell the prospect EXACTLY like you want them to do.  In this case, you want them to pick up the phone and call your office in order to get a free report from you.

5.  Collect contact details and follow up.  The most important part of this marketing strategy is collect the contact information of those wanting the free report.  If they are picking up the phone to actually call you, then these inidividuals are much more serious than the average "looky-lou" online submitting their email (almost anonymously) in exchange for some valuable content.  But collecting their contact info is just one side of the coin.  Although you may get some immediate business right away, the big picture of this technique is to find and develop relationships with individuals who will need your services as some point (although it may not be right now).

6.  Rinse and repeat.  Once the amount of prospects calling you for the free report starts to twindle, simply re-run the classified ad.  Better yet, pay for a monthly ad instead of a weekly one.  Make it part of your marketing routine.  Also, you can run a new ad for a different group of prospects you are targeting.  Eventually, you will have monthly ads running that target several different types of loans that you are wanting to close on.

As you can see, this one marketing method can help mortgage professionals create and maintain a long term stream of cheap mortgage leads.  To increase the amount of leads, simply increase the amount of classified ads placed (whether in one newspaper, or branching out to other newspapers in the surrounding areas).  Never again have to buy mortgage leads from the many shady mortgage lead generation companies on the web.

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How To Generate Your Own Cheap Mortgage Leads

The ability to create a professional looking mortgage flyer can come in quite handy when trying to generate your own low cost mortgage leads.  And I'm not talking about using flyers for the business that you already have locked up.

You see, most people just don't know how to make up a decent flyers for the home for sale.  If you have looked at a few FSBO flyers, you'll know exactly what I mean.  Unprofessional flyers will result in much fewer responses and thus ultimately a lower selling price.

Fizzbos know this fact as well and are just dying to be helped out with this.  And here's where you can step in and gain their good graces.  Drive around your neighborhood and collect all of the "ugly" FSBO flyers that you can find. 

Pick the best 5 and quickly create professional looking flyers for them.

Go back and meet up with these FSBOs.  Show them their flyer and yours, and explain to them the consequences that they face by having a poorly made flyer.  Offer to supply them with as many flyers as they need.  All that you as is that you include your contact info on the flyer. 

Why is this so important?  Because most people are not going to but that FSBO home.  But they are still interested in buying a home, and this gives you the perfect opportunity to get new business (ie. cheap mortgage leads).