Mortgage Telemarketing

Updated: February 16, 2010

Mortgage telemarketing is one of the most competitive types of telesales and requires persistence to be productive. Outsourcing your mortgage telemarketing campaigns can be a smart way to achieve high call volumes without working 12 hour days. It is necessary to have all of your ducks in a row prior to launching your project. Preparation should include hiring a telemarketing company to handle cold calling, defining your target market, and supporting your outbound calling campaign with additional marketing channels.

Telemarketing Call Center:

First, you must choose a reputable telemarketing center to handle your calls. You can search online, use social media, or word of mouth to find the right call center. Be sure to check the call center's website for testimonials and speak with its management prior to selection. After you have narrowed down your search to a few call centers, touch base with the telemarketers who will call your lead lists. Make sure that your goals are in line, and that the call center agent has experience such as, prospecting new clients, developing new business, and meeting an individual sales quota. The ideal telemarketer will have excellent cold calling skills, the ability to set firm and qualified appointments, persistence, and should be money motivated.‚Äč Choose the telemarketing center that provides your company with a telemarketer who sounds good on the phone, is competitive, and driven to succeed. Real estate virtual assistants can be effective in this role.

Defining Your Target Market:

Once you have found a call center that will outsource telemarketing for you, you need to have a plan of action for targeting prospects. It's probably a good idea to go after the low hanging fruit first, and work on the harder leads later. The best group to initially target is probably homeowners with high current mortgage rates. These leveraged homeowners can be great prospects for loan refinancing, especially with 30 year mortgage rates at some of the lowest levels in recent history. Another good group of borrowers to call is homeowners with second mortgages. They are often strapped for cash and are good prospects for equity loans. If you are looking for reverse mortgage leads, senior citizens seeking a better quality of life are great prospects for your telemarketing program. Last but not least is subprime borrowers. As you might have heard, these homeowners have high monthly payments, and you can provide them with an opportunity to refinance their bad loans.

Marketing Support:

While outsourcing your telemarketing campaign will alleviate some of the burden you face in generating new business, it is crucial to remember that your telemarketers face intense competition, and it is your responsibility to provide them with marketing support. A popular and effective method to assist your campaign is to complement your telemarketing with direct mail. Create a simple and to-the-point mailpiece and send it out to the prospects who will receive calls. This will also give your telemarketer an icebreaker to get a conversation started.

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