How would you go about reaching this audience?

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I just got a sales position in the finance industry. Basically a loan officer for a private lender.

I have some very nice selling points because the product is one of the best in the industry with the benefits that they offer. I've been hearing that there are a few things that are typically unheard of that we do, such as giving people rehab money at closing. I have to target real estate investors that need lending (or better lending/or more lending/etc) for a potential project.

I don't have much money to test out multiple avenues like I want to, so I wanted to gather some opinions first.

My original two cents: With my limited knowledge of the current IM economy, I'd go with facebook ads either using the selling point that we pay people to start their projects (and collect basic info + phone number for direct contact), or be more subtle about it and offer foreclosure list for an email address (and reach out with lending emails once a week or so).

I have a little over 60 days to build a book of business. I move on to 100% commission January 1st.

My goal is to convert 8 leads a month. The commission is pretty great and repeat business is huge in this industry so it will snowball.

How would you guys go about gathering leads for this online? Is it plausible or waste of funds in your opinion?
#audience #reaching
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  • Profile picture of the author OptedIn
    Originally Posted by iRunThis View Post

    How would you guys go about gathering leads for this online? Is it plausible or waste of funds in your opinion?
    While there are always specifics in attracting leads in any niche, much of what you do will be generic as far as the actual process. Finding and targeting your prospects will require highly-targeted Facebook ads, aimed specifically at those individuals. Not sure what the targeting options are on FB in that area. It seems that whenever I want to target a very narrow niche, I'm left with options I find very underwhelming.

    There are a few people on this forum that operate within this niche. I'm sure they'll have something to offer in the way of more concrete suggestions.

    Congratulations on moving on to 100% commission. If you are good at what you do, it's the only way to fly!
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  • Profile picture of the author Kay King
    Does your company take apps and grant loans online? Is this an exclusively online 'mortgage lender'?

    Is this mainly for real estate transactions? Is it residential or commercial - or both?

    Your best source of leads are real estate sites (and offices) - real estate agents - and brokers. Unqualified leads are worthless to you - so unless you have very lenient underwriting...FB ads may not be good ones.

    My guess is if your product is superior - a mailout flyer sent to RE agents/brokers might have better response than FB ads. That will be increasingly true as interest rates continue to rise.

    The first thing you need to do is LEARN your products thoroughly and know exactly how they compare to loans of other lenders targeting the same market. If you offer unique products your interest rates may be a bit higher so you would downplay that....goes back to knowledge of your product.

    You could target adsense ads to financial/investor/remodeling/real estate sites I think you'd have better leads. The only way you will know is to test ads and track the results.

    To begin with, choose a focus - do you want to work in foreclosures? Will you specialize in construction loans than transition to standard loans - or work with remodelers and 'flippers' using rehab loans? You can expand later but start with a highly targeted approach.


    I don't agree with listing how many conversions/month or worrying about Jan 1. 100% commission is a good thing. Every time you close a loan ask for referrals....from the person who got the loan and the agent/broker who sent them to you. Learn the laws in your area (and the rules of your employers) - can you offer 'incentives' for referrals? (i.e., gift card for dinner for 2 or sports/concert tickets)?


    Good luck.
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    • Profile picture of the author iRunThis
      Originally Posted by Kay King View Post

      Good luck.
      Thanks a lot for all of your advice. My focus would have to be with re modelers and flippers using rehab loans. I get much better commission from those because it's a purchase loan + rehab loan most of the time.

      All of my referral sources actually get paid more than me when they send me a referral that goes to closing. I do it that way in hopes of turning that referral into repeat business. Since we're a private lender, I can quote the broker a 9% rate for their client and the broker can bump that up to 11% and keep the additional commission I'd get from raising the rate by 2%. I've talked to about 30 brokers so far on linkedin and typically don't get a response much greater than a "thanks for the info". I've just been playing the numbers game.
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  • Profile picture of the author Benjamin Ehinger
    Originally Posted by iRunThis View Post

    I just got a sales position in the finance industry. Basically a loan officer for a private lender.

    I have some very nice selling points because the product is one of the best in the industry with the benefits that they offer. I've been hearing that there are a few things that are typically unheard of that we do, such as giving people rehab money at closing. I have to target real estate investors that need lending (or better lending/or more lending/etc) for a potential project.

    I don't have much money to test out multiple avenues like I want to, so I wanted to gather some opinions first.

    My original two cents: With my limited knowledge of the current IM economy, I'd go with facebook ads either using the selling point that we pay people to start their projects (and collect basic info + phone number for direct contact), or be more subtle about it and offer foreclosure list for an email address (and reach out with lending emails once a week or so).

    I have a little over 60 days to build a book of business. I move on to 100% commission January 1st.

    My goal is to convert 8 leads a month. The commission is pretty great and repeat business is huge in this industry so it will snowball.

    How would you guys go about gathering leads for this online? Is it plausible or waste of funds in your opinion?
    While Facebook ads may work, I've always liked straight PPC on google better. If you can find some low-hanging fruit, even if it's not perfectly related to your niche, you can lead your potential customers in the direction of your product. Often, you can get a better return on Google PPC, but if you know Facebook well, I say, go for it.

    Benjamin Ehinger
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  • Profile picture of the author Jason Kanigan
    Go to the Offline subforum and ask in there. Much better level of experience and expertise in there.

    Loan Officer is not a new job, of course, so how about doing a couple information interviews with successful independent ones and find out what they're doing. Pretend you are looking for a job and wondering what the day to day activity is like.

    A client of ours in this field did very well with a playlist of about 20 YouTube videos talking about the issues, 2 - 3 minutes each. They would run ads to them but also people would find them organically. Prospects who had the problem would binge-watch the whole playlist. What do you think that does to credibility, pre-qualification, and readiness to buy when the prospect gets on the phone with you?

    Of course there has to be a call to action and that was to get an ebook (pdf) on the topic. They'd have to sign up for that and now they're off YT and onto the marketing platform. The email series would then encourage them to read the book...and then sign up for a call. Then it was our turn to play: we did the high ticket closing.

    So have a plan to differentiate, educate, and warm up your market, making them ready to buy when they talk to you. You'll need a quantity of these people every week coming into your system, or you'll never have a chance of making sales. If it's a dribble, it won't work.

    Get on over to the offline subforum and ask in there. Claude Whitacre in particular has some stupidly inexpensive, highly helpful Kindle books on selling which will be useful to you. There's a lot more to this than "just run some ads."
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