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Success with Subprime
by Brian
Sacks
Do you have a question for Mr. Sacks? E-mail
it to brian@loanofficersuccess.com.
Click here
for more articles by Mr. Sacks.
Letting Everyone Know You Are the Expert Part II
Hire an Ad Agency
The second thing you must do to make your media courtship successful and to maximize
your media exposure is to hire an ad agency. Getting in with the media comes down to selling yourself- it takes
persistence and it takes time. You'll make much better use of your time if you leave this job to an ad agency's
media experts. It won't be cheap, but the trade-off is in your time. You have to know the value of each of your
hours and spend your time wisely.
Look at it this way: Suppose you interview an ad agency to handle your media marketing,
and they quote you a price of $2000 per month. That sounds like a lot to you, so you decide to keep the money and
try to do it all yourself. At the end of a month of working four 40-hour weeks, you will have paid yourself $12.50
per hour, and you almost certainly will not have accomplished nearly as much as the ad agency would have in that
time. I'd say don't hesitate to pay a good agency whatever the going rate is in your market. Your time will be
better spent selling your expertise to clients so that you'll have the money you need to pay the ad agency bill
when it comes.
Here's just one possible scenario that demonstrates how hiring an ad agency can
pay off:
Imagine walking into a real estate office and saying, "Hey, you're on
the other end of the county from me, but because of my wide media exposure (TV spot, radio show, newspaper coverage,
etc.), we have lots of clients calling us from your end of town. We'd like to be able to refer these pre-qualified
buyers to good, qualified realtors. Are you interested? And, if you're interested, here's what I need you to do
for me." What a great way to start a relationship with a realty office - giving them pre-approved buyers because
you've done a good job of marketing yourself.
Establish a Good Relationship with the Media
Now, an ad agency can help you get your foot in the door, but then a lot depends
on you. When someone from the media contacts you, you need to work to establish a relationship. This is a lot like
sitting down with a client for the first time - you must discover what their needs are. Get to know the editors
- tell them what you have that's new and different that someone else may not have. Perhaps give them some case
studies or names of clients they can speak to. If you've cracked into radio or television, get to know the producer
of the show and invite that person out of lunch or breakfast and work to build a relationship.
A few years back I knew I needed to "crack" the Baltimore Sun, the
primary newspaper in our market area. I had contacted their real estate reporter and had given him a press kit.
Making this contact was so important to me that I even gave him my cell phone number. Well, he finally called.
Wouldn't you know I was in Atlanta, vacationing with my family, lounging poolside, and I was paged. Nevertheless,
I took the time to call him right back - it was that important to me.
Now, I am on the Sun's resource list as an expert in mortgage loans, and they
call when they need information. Just last week I received a call, and it turned into an article on the front page
of the Sunday business section, with a picture of me to boot.
| You have to read to become the expert, and you have to write to become known as the
expert. |
Be Active
We've already discussed how important it is to network in your own industry. Being
active in the Board of Realtors and in your mortgage bankers and mortgage brokers organizations not only helps
you acquire knowledge, but it also looks good on your resume, especially if you hold office. These associations
can also bring surprising fringe benefits. The Greater Baltimore Board of Realtors named me their Member of the
Year one year and played it up big all over the newspapers and TV. That certainly helped my exposure a little bit.
A few years ago when I chaired the Finance Committee for the Board of Realtors,
I was the contact person any time the media had a question about real estate locally. It was their standard operating
procedure to contact the person in that position, and I just happened to be in the position - all from being active
in the organization. They considered me the expert, and that was the image of me that was projected in all the
newspaper interviews.
Write Articles
In addition, you should write articles for trade journals and other publications.
You have to read to become the expert, and you have to write to become known as the expert. I've written 40 or
50 articles on various topics over the years. You might have to start out in some fairly obscure publications and
small community newspapers, as I did, but it's important to develop a track record of being published.
If you lack confidence in your writing ability, then hire someone to ghostwrite
for you. When you get published don't forget to send a copy to the publications you're still courting, and the
radio stations, and the TV stations. This will keep them updated on your expertise and keep your name fresh in
their minds.
Any article you write can easily be repackaged as a talk or seminar that you can
deliver to your targeted client groups. This type of activity actually benefits you in two ways. First off, by
doing this, you are making your future clients more knowledgeable. This can only increase the efficiency, smoothness,
and success of your future business dealings together. And, of course, it will help solidify your reputation as
the expert in the minds of those who hear you speak.
I received a call just the other day from an agent with whom I've never done business
before. She said she had a buyer with fellow agents in her office had given her my card and said she had attended
a wonderful seminar of mine a while back. So, the business opportunity that came yesterday was actually just the
blossoming of a seed I planted earlier when I gave the seminar. You see, it's all logical, but it takes determination,
willpower, and persistence to put the up-front effort into getting the ball rolling.
Let's not forget we are still on our journey to Kalamazoo for the $1,000,000 prize.
My next issue will help us make sure that we are still on course after all the hard work (driving) we have done
so far.
Next article will give you a great tool that will help you be a great juggler.
Click here
for more articles by Mr. Sacks.
Visit Brian Sacks's web site at www.loanofficersuccess.com.
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