|
Professional individuals are often one of the best ways to work
this business long term. Everyone will have different preferences
perhaps as to which professionals are best to work with. If you have a
background in finances on the mortgage or real estate side you might
prefer real estate agents or brokers or Title companies. If you have
worked around numbers or the accounting side of finances then you will
likely be more inclined to talk to the accountants and financial
planners. All of the professionals listed on this page may be good
possible contacts.
- Accountants, CPAs and Bookkeepers
- Attorneys (Real Estate, Estate and Probate, Divorce, Bankruptcy)
- Mortgage Brokers and Loan Officers
- Board of Realtors
- Builders, Contractors, Developers
- Title and Escrow Officers
- Mobile Home Sellers
- Nursing Homes, Retirement Homes
- Property Management Co.
- Real Estate Agents & Brokers
- Financial Planners
- Mobile Home Parks
- Bail Bondsmen
MAKING YOUR VISITS TO PROFESSIONALS
Most of these professionals will not have a clue about what you
do in this business. Most are not familiar with the note industry or
even know what a note is. For this part of your business we recommend
you start with a direct visit to these individuals. Each time you will
be in their office for only a very short time. For the first visit, you
will need only your business card.
For the second visit, you will want to have a newsletter or a
flyer that describes what you do. You can get these printed through OvernightPrints.com for very good prices. Understand
that 90% - 95% of these individuals will not know anything about this
business. This is usually because they do not have the type of
relationship with their clients that will cause the client to come to
them if they are in need. The newsletters you create should be designed to help them understand what the business is all
about and how it may help their clients. Obviously, the professional who
does not have clients with notes is NOT your prospect. It
will just be a numbers game again. Get by 10 or 20 to find the 1
that will be your referring professional.
It takes time to develop this strategy. There are two main
things that you have to overcome.
- First, you will find that even those
professionals that tell you that they might need your help with a
client, may not need your services more than once a year.
- Second, the professionals that can refer clients to you will need some time to feel that you are credible.
The newsletters
we provide will be a great benefit in this area. If they are
professional looking they will give you a great deal of
credibility right from the start! You will want to have a new edition
of the newsletter every month for this small, select group of
professionals that have indicated that they will send you referrals. I
suggest creating a very custom newsletter that give some very clear
details about how you can help them.
How many
You really need just a couple dozen professionals
sending you notes for this to be a successful part of your business. If
each of that small group send you only one referral a year, that's 24
deals each year. This will occur as you start this approach. If your
commission is only $2,000 per deal (and it will almost certainly average
more than that) you will earn $48,000 from this source alone! Obviously
this can be a magnificent part of your note business.
The best thing about this strategy is that it
eventually grows by itself. With direct mail you are constantly
purchasing more lists of people to mail to. With professionals, once you
do a deal that helps one of their clients, they will refer you to other
professionals. Over time, your small select group of professionals will
grow by itself. In the long run, this strategy becomes more like Public
Relations than marketing, advertising, or selling. In the initial
development there is definitely a lot of contacting and selling.
|
cash flow notes referrals-b
