I am in the mortgage loan business. How can I get people motivated to buy?

Deal Score0

Any advice. I am looking for motivated buyers. Or people looking for a refinance.

  1. Reply
    February 18, 2011 at 8:04 pm

    If you are any good the local real estate agents will recommend you and you will not have to beg.

  2. Reply
    Spock (rhp)
    February 18, 2011 at 8:05 pm

    you are in the tough part of the cycle. my guess is that about half the people in your business are going to leave it — as measured from cycle top in 2006 to the future cycle bottom in maybe 2009.

    my guess is you’ll do well, even so, to keep 1/2 your prior income level.

    great product at good rates is a requirement. check your lenders regularly for rates and terms. prune and replace as needed.

    then you have to get the word out. Lord knows what will actually work [we don’t know where you are and so have no idea of the market conditions] … and you need to try near everything advertising and marketing wise.

    every house in my subdivision got a slick multi-color flyer hand delivered to the door just this week from a mortgage broker who’s doing whatever to find business.

    and send a letter to everyone you’ve ever done a deal for offering to search for a refi.

    you also need to find some of the local RE bottom fishers — the fixers and income investors. We’re looking for good deals, as usual, and will need financing. BUT, (at least in my area) prices have a ways down to go yet.


  3. Reply
    ERIC D
    February 18, 2011 at 8:10 pm

    I was once in your situation. Don’t worry, everything will work out for you =)

    A year ago I found this organization that gives people up to $ 1500 in renter or mortagage assistance! They operate in most US cities, I highly suggest you try to get some of this money.


    Good Luck!

  4. Reply
    Jeffery B
    February 18, 2011 at 8:50 pm

    Good finance question! I know of an organization that gives up to $ 1500 to people to help them with their rent or mortgage. It’s available in most US cities, I highly suggest you check it out.


    Best of Luck.

  5. Reply
    sacha F
    February 18, 2011 at 9:36 pm

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