2 Tips For Focusing On Your Purchase Business During the Refi Boom [Repost]
Rates have dropped and refinance volume is up. When forced to prioritize, our non-urgent marketing disciples suffer. A bird in the hand is better than two in the bush after all. We also know that refi cycles come to an end and the more you neglect your purchase business, the steeper the fall. There are two things you can do to make sure you are ready for the market shift.
Get creative with Your Realtor Communication:
Even if you can’t get out of the office, staying top of mind is essential. When you don’t have time for a face to face meeting, you can create impactful communication on the fly. The key is a disciplined and novel approach.
Voice: A friend of mine moved to France and she was blown away that most people send voice recordings over text. You get tonality and you are likely the only voice memo on someone’s phone.
Personalized Video: Our Branch Manager is recording 10 videos every Tuesday and sending them via FB messenger to his Partners. Double win, he can point them to his new content and has a personalized communication. His response rate is near 100%.
Start Buying Buyer Leads:
A consumer-direct discipline is the ultimate hedge against the market changes. There are two reasons to pull the trigger on a lead generation system now, 1) You have the money, and 2) It takes 6 months to get results.
You have the money: The initial investment in lead generation can be significant. Beyond buying the leads, you need a no lead left behind methodology and a great sales funnel. This takes investment. With volume at record levels, now is the time to jump in with both feet!
It takes 6 months: The average digital lead takes over 120 days to close. That leads you generate this month are likely next years revenue. If you start in January, your results won’t hit your paycheck until summer. Lead generation is not a strategy you just turn on tomorrow and create revenue, it is a discipline that requires patience and persistence.
You are busy, I get it, now is a great time to plan for the future. The best time to invest in your purchase business is today.