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DS News October 2018

DSNews delivers stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry.

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62 I N D U S T R Y I N S I G H T / A L F R E E D M A N It is always a tricky balancing act when it comes to the inven- tory level brokers have versus the number of properties they are working on. How many is too many and how many can you effectively manage? If you subscribe to the theory that you need to keep the funnel of your sales pipeline full as you work on the properties at hand, you might find yourself working 60-hour weeks, looking for new business while keeping tabs on the current challenges of live projects. e time to look for new business, new clients, and new projects should be the next moment after you start working on your current project. With today's market dominated by low inventory, it adds additional stress, knowing that you need to be creative and think outside of the box when bird-dogging and trying to uncover new business, properties, and business relation- ships. STAND OUT WITH DIRECT MAIL inking outside of the box also involves diversifying from what you have been doing in the past. If you are a staunch advocate of never dealing with homeowners, you need to change that mindset. It might even take you down the path to consider creating a marketing campaign through email or direct mail to let the audience of homeowners know that you are also an expert in working with them. If you are open to staging a marketing campaign, consider direct mail. Direct mail has lost some of its allure in recent years, surpassed by email marketing as the latest and greatest way to communicate and attract attention. Now that everyone is being bombarded with emails, what was old can be new again with direct mail. You can create an attention-getting campaign by sending physical promotional material, such as a USB drive with your logo on it, to a prospective or existing client in the hopes of showcasing your skills to secure their business or nurture an ongoing relation- ship. e message points in a direct-mail campaign should include relevant information or an offer to entice recipients to respond. If you don't want to use a promotional product, think about directing Expanding your real estate broker business requires not only recognizing opportunity when it comes calling but also seeking it out in places and with strategies beyond just what has worked before.

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