One of the biggest questions Sue and I get from our subscribers at www.reversemortgagesuccess.com is “Please tell us what your 'best' reverse mortgage marketing strategy is?” or “If you could only do one thing to get new business what would it be?”
So what is the answer? There is no such thing as a best strategy. You must have multiple ways of generating business or quite simply you will fail. Don’t believe me? OK, we’ll prove it.
What if you relied only on faxing or telemarketing?
We live in times of high regulation. We have do not call lists, do not e-mail lists and soon do not mail lists (if they aren’t here already).
Years ago many companies built their business on faxing messages to generate new loans. More recently companies used telemarketing with no concern over who was being called or when. Even more recently, during one of the numerous refinance booms, companies used bulk e-mails many of which were just spam.
If you had used any of these as your sole means of generating new reverse mortgage business you would be out of business. So what should you do?
Think of your origination business as a building. Typically it will have at least two and often times four or more entrances. Some will come around back to enter. Some will come through the front door while others will come thru the basement, a side door or even the delivery entrance.
There is no such thing as a best way to generate new deals. Worse yet, is that if you only use one method and it stops working or is done away with due to regulations, well you are $#)@(&*@_).
Brian Sacks and Sue Haviland are the co-founders of Reverse Mortgage Success. They have been in the industry for over 25 years and have closed over 5,000 transactions. Sue and Brian originate reverse mortgages each and every day and share their real world experiences with you at
