Very CounterIntuitive- but it works
Niches do bring in business
One of the ideas I have managed to build my business on is the formula of
PICKING A NICHE
BECOMING THE EXPERT
LETTING EVERYONE KNOW ABOUT IT
There are many niches in our industry :
Reno Loans
CLients with BK or Credit Challanges
Divorce Buyouts
New Construction
Condo
Self Employed -no tax returns
Asset Programs
Tax Id for immigrants
No- First Time Homebuyers and investor loans are really not a niche- nor is FHA /VA/CONV
these are programs everyone offers so nothing truly unique.
But the fear many originators have is being known for just one product and excluding others.. The reality is actually very different.
IT’S COUNTER INUITIVE
Let me give you some examples:
Buyers who have had a bk-
If you are able to do these and have expertise you can
-teach classses on it for agents at your board of realtors
- market to bk attorneys
- market directly to these consumers since they are easily identified
These buyers will actually LOVE and appreciate you — because no one else is willing to work with them.. THey will tell all of their friends how great you are and will also leave you great reviews
When you do a loan for a buyer with a 800 score and putting 20% down- you might not even get a thank you !!!
When these credit challenged buyers buy a home- you now have the opportunity to build a relationship with a new agent and a new listing agent and expand your network..
When these buyers send you a referral - the buyers they refer probably have good credit.!!!!
Start exploring some of the niches I mentioned - and go after referral sources for those leads…teach classes - write a book- and get your name out there!
Divorce- Family law attorney
Condo- management companies and agents
Reno- home improvement contractors
Try it- it works- the formula again is Pick A Niche- Become The Expert - Let EVeryone Know about it
Last friday I closed a loan for a bankruptcy attorney in Maryland- I have been referring clients to him and he has been referring clients to me. Now he used me for his personal loan
BTW- it was a bank statement program loan - no income-
His accountant wasn’t even aware of this program- so he asked to set up a time for us to meet so he can learn more about it and be a resource for his clients..
( see how that works!) and I will be asking him to introduce me to the AICPA
( associatioin for accountants) so I can teach a class for them!
Dedicated To Increasing Your Production
Brian Sacks
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