There’s always something to howl about.

Who else wants some cheap and easy ways, to generate more purchase business from REALTORS?

I cleaned up my e-mail database this week and was pretty surprised.  The lion’s share of our business comes from real estate agents.  Many times, I don’t speak with nor hear from an agent for 5-6 months…then…WHAM—I get a loan call.  That call always seems to come within two weeks of one of my email newsletters.  I understand my numbers pretty well:

  • for every California agent, in my database, it results in .6 purchase loans/year
  • over 75% of that business comes from agents, in the database, who open at least 50% of my emails (that comprises just 20% of the total number)

Last year, I cleaned up the data base.  I whittled the number down to 70 agents.  15 of those agents accounted for 32 purchase loans and 55 agents accounted for 11 purchase loans.  If I want to close 72 purchase loans in 2012, I probably need 30 agents, who open at least 50% of my emails.  To add those extra 15 agents, I need to meet and add some 75 NEW agents to the database…pretty quickly.

I broke down the content offered, too:

  • the highest click-through ratio (55%) came from marketing ideas
  • mortgage tips (like how to get a VA offer accepted) generated a 35% click-through
  • mortgage rates reports were largely unread (10% click-through)

Agents want to hear how to get more business and then, how to do business properly.  Agents just don’t care about mortgage rates.  I’ll stop writing those onerous mortgage rates reports (nobody’s reading them and, because their time sensitive, they are more of a short-head).  I will start adding marketing ideas to my blog, then use those blog posts for my email newsletter content.

Here’s what I did last night:

  • I created a new list, of the serial readers, and named it the “top-gun file”.  I’ll add new agents there, check it every 90 days, and move the agents, who are not opening 50% of my emails, to the “general agents” list.
  • I pre-loaded weekly emails, for the “top-gun file”, out to April 15, 2012.  I want to insure consistency
  • The “general agents” file will get a bi-weekly marketing idea.  I pre-loaded that content, out to April 15, 2012.

Now I have to “find” 75 new agents, pretty darned quickly.  All I have to do is to secure permission to email them weekly.  I always tell them that if it annoys them, they can unsubscribe and some do.  Most just stop reading.  Almost every agent I meet gives me that permission so let’s just say I have to meet 100 agents to secure the permission from the 75 I need. Here are some ideas I have to meet those agents:

Agents who hold open houses talk to buyers.  Agents who hold open houses get bored at those open houses.  I had 100 “customized lunch boxes” printed, with my name, website, phone number, and a message (TANSTAAFL) on it.  I’m going to go to Costco and fill these lunch boxes with a couple of 7-oz water bottles, a bag of pretzels, a bag of peanut-butter crackers, and an apple.    I’ll put a bunch of cards in the front pocket, along with a couple of articles about mortgage financing.  Then, I’ll deliver them to agents holding open houses, pick up their card, and call them a few days later to see how they liked the lunch box.  I’m hoping they’ll ask what TANSTAFFL means so I can transition to the question about receiving my weekly email newsletter.

I attend the weekly pitch sessions and caravan for La Jolla Real Estate Brokers Association and have been invited to the Downtown San Diego pitch session and caravan, too.  I’m sponsoring a table for the SDAR Officers’ installation dinner, next month.  I figure that I can raffle off 2 tickets to the dinner.  Each “entry” will be a business card (and permission to e-mail), at each of those.  I might be able to partner up with an agent, who is holding a listing open on caravan, and hold the raffle there while exchanging my TANSTAFFL lunch bags for the business card (and permission to e-mail).

I could probably do a cross-promotion with Bill Lyons of Revestor.  I can ask him to “donate” a couple of 90-day “free zip codes” certificates, in addition the 90 day trial he offers (I just gave you a link, Bill so consider that when I ask you).  I can also ask him to announce our “joint raffle” to the real estate agents in his database, and have them “enter” online.  I should have two extra dinners to contribute to that separate raffle.

Consistency has always been my major challenge; I think I have that fixed until at least April 15, 2012.  I think I have a handle on which content “makes the frog jump”.  My other challenge is adding emails of quality agents…quickly.  Any critique of my current plan or ideas you might have is appreciated.