Contact Why Your 50-Year-Old Clients May Need You The Most Mortgage Sales Letter Tips

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Mortgage Sales Letter Tips

A good mortgage sales letter can be worth 1000 times its weight in gold by generating leads from cold lists or new business from your old client list.

Let’s say you have a list of 50 customers and 50 leads who haven’t converted yet. If you send a letter at a cost of $0.42, it costs $100 to print. The total cost of a basic mortgage sale letter is only $142.

A new loan can generate thousands of dollars in commissions. If you just get a new loan from a mortgage sales letter, you’ll make a profit (assuming you’re not mailing to a huge list).

Therefore, it is important to create effective mortgage sales letters to maximize your lead generation efforts.

The key is to write effective mortgage sales letters that people read and respond to. Most mortgage brokers don’t know the power of effective writing and rely on hype and deceit in their letters.

The good news is that you don’t need to hype your letters, nor do you need to rely on tricks like old fashioned “fake window check” letters (which, by the way, do work, but only if you don’t cheat the recipient do so below).

If you want leads and referrals, here are the three most important parts of a successful mortgage sales letter that will help you increase your response rates and build your business book:

1. A compelling headline. Almost every mortgage sales letter must have a headline. Why? I’ll let the late, great David Ogilvy explain it to you:

“On average, five times as many people read the headline as the body copy. When you write the headline, you’ve spent 80 cents.” —David Ogilvy

The job of a headline is to get people interested and excited about what you have to say. For example, a poor headline might say: “Introducing Your Local Home Loan Specialist!”

A better headline would be “Susan Johnson Saves $498.95 Monthly on Mortgage Payments – Here’s How You Can Save That Much and More!”

This headline needs some work, but it predates the average mortgage broker marketing letter by many years.

2. Story sales. There is nothing like a good story to get people engaged and motivated to take action. Rather than flooding potential customers with hype about your products and services (which can put them on the defensive), tell them a story of a customer saving money right away. With that savings, she can pay for child care or buy a minivan, or take a vacation she’s been putting off for years.

Their key is to write a story that fits the mindset of the audience. If you’re targeting subprime mortgages, tell a story about how a down-and-out client had no hope. How he took his family out of a rental in the slums of town to own a nice house in a great school district.

3. Call to action. The next important area of ​​an effective mortgage sales letter is the call to action. You want your prospects to take action and call you or fill out a reply card.

For example, a weaker call to action would be “Call me at 555-555-5555, Monday through Friday, 8:00am-4:00pm.”

An even stronger call to action is, “To get a free no-obligation consultation to see how much you could save on your mortgage, give me a call today: 555-555-5555. We can arrange a time to meet and discuss your financial situation , or by phone. You can reach me anytime during normal business hours at 555-555-5555. Alternatively, you can call my 24-hour toll-free voicemail at 1-800-555-5555 and leave your contact information, I’ll send you more information.”

In addition to a headline, story, and strong call-to-action, your mortgage sales letter should include Post Script (PS) and testimonials. Research shows that as many as 80% of readers read PS first. This is where you reaffirm your interests in a conversational manner. Testimonials are very effective in building credibility and can strengthen your claim.

If you follow these simple guidelines for writing more effective mortgage sales letters, you’ll generate more qualified leads and referrals.

Sit down tonight and write a mortgage sales letter instead of watching The Fringe or Dancing With the Stars. Send it to your current and returning clients. You have nothing to lose and everything to gain.

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