Why I Love Using Door Hangers In My Mortgage Business

Every day we go through hundreds of doors without even thinking about it. How would you like to be able to make people stop and take notice of your mortgage marketing message?

The answer is “Door Hooks” or, if you prefer, “Door Knob Hooks.”

If you’re like me, you’d probably love closing on a mortgage with a low-cost origination idea. Door hangers definitely fit into that category and are a great funky tool.

These are some of the advantages of using door hangers:

1. They are cheap,

2. They are easy to generate,

3. The response is almost immediate,

4. They help you establish a growing area,

5. They can be directed to a specific market,

6. Someone is going to exercise a lot.

As noted above… There are many very good reasons why you would want to incorporate the door hanger idea into your marketing plan. But, here’s the biggest reason of all: You’ll get an immediate response by using door hangers. If you’re new to the mortgage business… this is exactly what you want… you want leads now… not next week, not next month and certainly not next year.

If you’re a mortgage expert but experiencing a bit of a lull in your business… this gives you a quick boost in finding new prospects.

And remember… this is low-cost mortgage origination you can do right away. If you need business…and you don’t incorporate this idea…I can’t really help you…you have other issues that need to be addressed immediately.

I’m sure you realize that door hangers are meant to be used as a one time effort to gain leads. There is no tracking because there is no contact information. Only when your mortgage prospect calls you is the beginning of any kind of two-way communication. Door hangers are meant to get your message across quickly, efficiently, cheaply, and in large numbers.

So… your door hangers are delivered. What’s next and what can you expect?

First of all, hopefully you will receive immediate calls. In fact, unless you are prepared to collect information while delivering; you may have to turn off the phone for an hour until it is convenient for you to call back.

Second, you may run into people who are willing to have a conversation with you right then and there. Just be ready for it.

Third, the lifespan of your door hanger is short, typically three to four days max. This is an immediate response idea with no long-term residual value.

Fourth, your response numbers will approximate the response rate of direct mail without the associated costs. Expect a one to two percent response.

Fifth, you will receive complaints. Don’t worry about that; just be aware that you will get them. He’ll find they fall into two categories, both of which revolve around that little sign posted at the entrance to the complex where he posted the signs on the doors. He says, “Don’t solicit,” or something similar.

You may receive a call from a resident who is actually applying. Apologize profusely and move on. His response is: “Sorry, no offense meant…I have done many refinances in the community and everyone is very pleased…I provide a valuable service to your community.”

If you’ve just hit a rental community… you’re getting a call from a not-so-happy property manager. If you don’t get that call; they are not doing their job. So wait for the call and get ready.

They will call you and threaten to contact the Sheriff or local Police. This is his response: “I’m sorry…I didn’t realize…it won’t happen again, I assure you.” He be humble and apologize and diffuse the situation.

Just so you know… I’m not aware of anyone in the mortgage industry serving jail time for violating that little posted sign. This is not an offense that will land you in foreclosure jail, trust me.

In the case of a rental community, I usually wait a year and then do it again. You can always blame your staff (even if you don’t have one). next time… but, chances are there will be a new property manager to yell at you instead. They rotate at roughly the same rate as rental units.

Okay, back to basics… Let’s pick a target for the door hangers. It can be a rental community, a residential area of ​​single-family homes, condominiums, or townhomes. Obviously, if your door signs are geared toward rentals, your theme may be “Renting is Dangerous to Your Wealth,” or something similar.

For residences, a refinance booklet with a free report is always a good option. In both cases, give them a reason to call you now…give them something that’s free if they answer.

Personally, I prefer to deliver my door signs in rental communities, townhomes, and condominiums rather than neighborhoods with single-family homes. Because? Because I can deliver a large number of flyers in a very short period of time.

I also like to deliver them on Saturday morning. You can count this as your exercise time or hire a couple of kids to post on gates in a particular neighborhood. If you hire children… get parental permission and supervise the posting of door signs.

You can buy blank door hangers that are already punched and print them yourself. Here are some sources you can check out or use Google search if you prefer. You will have many options.

paper.com/index.html – Use your search box and type “door hangers.” Your 8.5″ X 11″ 3-in-1 Door Hanger comes in a pack of 250 sheets (750 door hangers) for $33.08 plus shipping and handling.

pcform.com/doorhanger.asp – Your 3-up in a pack of 250 sheets (750 door hangers) is

priced at $45.00, 1500 door hangers for $72.00, etc.

kwiktickets.com/updh_3up1.html – Your 3-up package is 333 sheets per package. 1 pack equals 1000 door hangers for $28.00. Available in white, green, blue or yellow.

You can also make your own using a full page letter size flyer.

First… design a nice flyer on yellow letter-size paper. Use the entire page. If you’re heading to a residential neighborhood…use a refinance theme like “Don’t miss the boat, rates have never been lower.” If it’s a rental community…”Renting is Dangerous to Your Wealth” is a good choice.

Second…let’s take that full page flyer and turn it into a door hanger.

Fold the flyer as if you were going to put it in an envelope…in thirds. The secret here is to fold your flyer with the print on the outside so that even when it’s folded… the first third is still visible and legible.

Third…while folded…drill a single hole centered on one end and thread a rubber band through it for hanging. Done… so simple… so fast… and so cheap. Now… Let’s get them delivered.

Keep this little gem of origin in the back of your mind… there are many door knobs that need door hangers.

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