post by Sam Collins

Recently I have received many calls from reverse mortgage originators expressing concern about their business or lack thereof. 

Most LO’s are concerned about the lack of response to  direct mail, seminars, and other promotional efforts.    I think there are several reasons why response rates are down and there is no one answer. 

Here they are the primary ones:

1.  Time of year.  Traditionally August is the biggest vacation time of the year.

2.  Clients are scared.  Many seniors are scared about what is  going in the world that could possibly affect them, such as the recession, declining home prices, cost of living, and the all the talk about the national health program.

3.  Selection.  The old days of merely sending out mailers to seniors 62 or older homeowners is history.  You can no longer afford this luxury.  Therefore, you must establish specific “predictive” data that gives you  the most probable client to send mail or invite to a seminar.  Mailing cheaper may not be the answer.

4.  Increased competion.  Yes, there are more folks  originating reverse mortgages, which still represents a very small portion of eligible borrowers.

5.  Demand.  The demand for leads is more than supply.

6.  No system.  Most have no system for follow up and no referral marketing program.

Knowing the reasons  above  do not really help you much or give you more  business.  Many of you are already REMALO members and take advantage of our many resources.  You need to review all the help guides and information provided for you, refresh yourself  and take action to implement them. 

If you want to get some help with your business, don’t miss our webinar this Wed. the 19th, Click Here.

Also, don’t forget to come to the member call in on the 26th.  Here you will have a chance to pose questions, give answers and talk to your peers.  Click Here

You are not in the reverse mortgage business; you are in the marketing business.

Remember, keep moving forward to stay ahead in reverse.

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Join me and Finn Anderson next Wed. August 19 when we will introduce our latest new product.
Making money on the other 95%.
Register now:   CLICK HERE

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