Written By: Karen Deis
The National Association of Realtors reports that within the next 5 years, over 30 percent of all home purchases will be from 1st time homebuyers. In addition, 22% (of the 30%) will rent an apartment FIRST, before purchasing a home of their own.
Advertising executives are paid millions of dollars to attract 1st time buyers of their products in hopes of keeping them as loyal customers throughout their lifetime. Think about ads created for children and teens. Companies like Nike, Kellogg's, Dell and MTV have created exclusive ad campaigns to attract and sell products to the 13-22 year age group in order to get them (or their parents)
to identify with the "brand".
The same theory can be applied to the first-time homebuyer/renters' market. Get them to do their first mortgage loan with you, get referrals, and if you treat them right and market to them consistently, you will have a book of clients that will purchase or refinance with you when they need another mortgage.
The problem with most mortgage company ads is that they are too technical for the average home buyer. What does 97% LTV mean? They don't have a clue what 80/10/10 means? (Could it be lottery numbers?)
For paid subscribers, we are providing you with a sample advertisement that compares monthly payments to loan amounts. People are concerned about how much money they will need to allocate from their paycheck for a house payment. The ad attracts 1st time homebuyers and renters; a renter's free report you can download and use (7 pages) and an easy system to generate leads from this huge, niche market.
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