Do you target this market with advertising or just capture it with you normal method of advertising or networking?

Hi Pam,
I see no one has responded yet, I won't leave you alone. This year I am targeting this group. I've selected two large apartment buildings to farm. Today, along with my mortgage specialist, we sent 300 introductory letters, with our business cards, to the residents advising them that we will be educating them about our services throughout the year and also encouraging them to contact us for a free consultation. The second mailing (postcards) will go out in a couple of weeks, we will be advising them of a local grant (25K) which I'm sure will get the phone ringing.

Hi Pamela
I don't especially target them, but I think that Janet has a great idea, which I would like to "borrow". Most of my business comes from 1st time homebuyers and I meet them through the open houses I host; which are in the 1st time homebuyer price range.

Hi Liz, Hope you had a good week. I can send you a copy of my introductory letter if you want.

Hi everyone,
Just came back from a fantastic convention in Dallas. I plan to send out a postcard to targeted apt complexes that carry a theme that our local area realtor association has published in newspapers. "Want to buy a home but think you can't get a loan" I have a local builder that will host a meeting that will show them how we restore and build credit. Most first time homebuyers may not have past pay histories to get a loan or the scores needed to qualify. So I will be providing them with something other realtors are not doing.

I sent out about 700 first time home buyer postcards about a week ago. It used the $7,500 tax credit incentive as a call to action, reminding them that this will expire in June. It asks them to call me to see if they qualify. I got one response so far, but she is a divorced single, who has owned property with her ex in the last 3 years. She was proposing that if she uses her maiden name,would this qualify her. I told her no, but that I was sure we could find a program that might work for her. The cards are now outdated, because we have a new plan about to be signed. I am still debating as to whether or not this incentive will be enough to get these buyers into the market.

Hi Debbie...we can only hope that now this it going to be a true tax credit ($8000) and not a loan, with a very narrow window of opportunity (8/31/09) that perhaps it will spur some of the fence sitters to action. I think some of them have been waiting to see what the new administration was going to do. I do know that none of my closed 1st time homebuyers were excited about the 7500 "loan" and don't think they used it!

Hi Debbie and Elizabeth,

I think that the main problem is FEAR of rejection that causes first time homebuyers from applying. I don't think they are sitting on a fence but hiding behind the door. They may not have any good pay histories to qualify for a loan or past mistakes.

Debbie in your piece you did not address their problem just told them about a tax credit. Not many people are taught or naturally know how to budget to prepare themselves for homeownership.

I drive around with a sign on my car "Raise your credit score now ask me how" 95% of the people who call me want to buy a house and they know their scores are too low. I get all income brackets calling. I feel like the pied piper of hamlet.

I don't think the tax credit is really an incentive to purchase. I haven't seen it work for an agent yet. The people that are most excited about the tax credit are those that are already in the market for buying, this is just my observation.

I think we need to send out stuff on how we can help people prepare for home ownership, encourage them to call your for a consultation, make them feel that you care and are on their side. I agree with Pamela it's the fear or embarrasment that's preventing many from taking that first step.

Pamela from other blogs and this one, I see that you go over and beyond to help first time homebuyers and that's okay but I'm wondering if you have time for "A" buyers, you need to make money now....I'm assuming. Are you ofloading all these repair stuff to someone else because potentially you can assist in the area all day, everyday.

Hi Janet,

You hit it on the nail. I don't do any of the work. I have a online distributon center of financial services that I enroll people in and get paid a fee. I think everyone in real estate will have this within the next 2 years. Just I am one of the first. An agent in my downline got a commission on an auto loan by someone going on her site and enrolling. She didnt know until she got paid.

Once they enroll the company handles everything. In my back office of my website I monitor their progress. When I see enough things come off I call them to go house hunting. I have a lot of time for A paper and leases.

In Houston a lot of the A paper go directly to the builder thinking that they will get the agents commission. There are so many realtors giving up part of their commission to get a sale. I lost a client due to her nephew telling her about a discounter who just walked in at closing and gave her a percentage. When you listen to the national battles that NAR fights for us..Banks wants access to our MLS. Consumers have more access with the internet to bypass agents. I am working on a plan B.

I am working part-time building a network of online financial centers across the country.Real Estate Brokers leverage our time to get income. So am I and my goal is to have a network of over 50,000. Check out my site www.GetyourCreditClear.com