The mortgage business has gone through a tough time‰Ū_ Our database now is down to a little less than a thousand people, so we wanted to make the most of those leads
Mike Foley is the co-owner of Foley and Co., a family-run mortgage business based in Campbell, CA. Now that the housing bubble has burst, they need a way to consistently produce revenue to stay in business.
It's the constant contact that reminds people who you are‰Ū_ A lot of mortgage brokers have gone out of business, but one of the reasons we're still in business is the constant contact [we make] with postcards.
Every time we send out a postcard [to our database], we generate a dozen calls‰Ū_ People keep saying I got your postcard. I got your postcard. I got your postcard. And we love hearing that.
Foley & Co. has been able to thrive while most mortgage businesses are going under because they understand one basic rule: repetition works. Even with a dwindling database, they are seeing great results because they are consistent with their mailings.