Reverse Mortgage Marketing

Are you aware that very soon Reverse Mortgage Marketing will become the hottest ticket in the U.S. domestic real estate marketplace?

Why?

Because the baby boom generation is beginning to retire and the marketplace is bursting with new senior citizens.

Think about this: In the United States there is well over $4 trillion dollars in home equity currently owned by men and women over the age of 62!

And even though reverse mortgage marketing has witnessed phenomenal growth over the last couple of years — the market penetration is still less then 3%.

How to Market Reverse Mortgages

The keys to successfully marketing Reverse Mortgages are really no different than any other product or service:

• Identify your customers
• Understand their distinctive problems
• Recognize how these problems motivate their decision making process
• Offer a real solution to their problem

Since reverse mortgages can only be marketed to persons 62 years of age or older, your customer is easy to identify.

The next step is to recognize what members of that age group are thinking about: their concerns and their needs.

What distinctive problems do your customers face today?

Here are a few:

• The economy is the worse since the depression
• Social security earnings are inadequate to live on
• The price of health care is escalating.
• Losing their homes
• Protecting their assets for their children.

What do these fears mean for individuals?

They mean many seniors today are faced with sudden late in life unemployment, dwindling savings, staggering health care costs, and real concern about their future and if they will be able to stay in their homes. They also fear they will be unable to pass on any inheritance to their children.

Seniors today make decisions based upon obtaining peace of mind. They want to know they will be able to keep their homes, supplement their social security income, and afford health care insurance (both before, and after, they qualify for Medicare).

Peace of Mind through Reverse Mortgage Marketing

A reverse mortgage can offer them a better quality of life without selling their homes.

Many seniors use their reverse mortgage to supplement social security and to pay for medical insurance.

Numerous others have found it is the best way to increase their peace of mind and enjoy a higher life quality without ever having to worry about selling their homes.

They have learned that a reverse mortgage can reduce estate taxes and maximize their estate value.

It is no wonder that Reverse Mortgage Marketing is becoming increasingly popular in the United States.  The number is growing exponentially and the increases by percentage are huge.

Tremendous Career Growth in Reverse Mortgage Marketing

What is needed?

Obviously you need to identify with your marketplace.  In this case you should be able to work with senior citizens and empathize with their problems.

It would be beneficial to have experience marketing loans or other financial products, but it is more important to have organizational skills, persistent follow through, and good verbal and writing skills.

Above all else, professional integrity is essential.

Successful Ways to Market Reverse Mortgages

Obviously customer referral is one of the main ways.  Build upon your happy customer base. Ask for referrals and testimonials – but be certain to get their permission to use these in promotional brochures and other material.

Contributing articles is another successful method.

Write articles that have relevant content and answer the questions seniors are asking.

Submit your articles to daily or weekly newspapers, newsletters (particularly those published in the retirement community), and real estate magazines.

Hold free seminars or offer to speak to senior groups.

These settings are perfect for educating your future customers about reverse mortgage solutions. A few topics might include:

• Paying for long-term care with a reverse mortgage
• Adding additional income to the family
• Reducing estate taxes with a reverse mortgage.
• Reaching maximum estate value through a reverse mortgage

Use these occasions to speak to audience members one on one.

We have seen several successful seminars that teamed a reverse mortgage marketer with an estate planning expert.

Use your knowledge and show your concern. Listen to the problems your audiences bring up – and take the time to come up with bona fide answers to their concerns.

Then of course there are other tried and true methods of marketing: newspaper ads, direct mail, cold calling, and sponsoring community functions.

You will find that Reverse Mortgage Marketing to the senior community will be very fulfilling.

If you are in a position where you already work with seniors, you may consider reverse mortgage marketing.

What occupations are we talking about?  Well, if you provide home health care, work with hospice, sell and fit hearing aids, supply home medical equipment, work in a senior community, or any other number of positions, you may find reverse mortgage marketing a good fit.

Best Candidates for Reverse Mortgage Marketing

Also, if you are currently a CPA or other financial adviser, an elder care specialist such as an attorney or insurance agent, a mortgage broker, realtor, or just any type of professional that works with, and cares about, seniors, you may very well benefit by including reverse mortgages in the services you provide.

If you do enter the field of reverse mortgage marketing sincerely, you will be able to establish relationships with wonderful people that will not only provide you a comfortable income, but will also give you the peace of mind and self satisfaction that only comes from truly helping people.

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Click the following link to discover one of the very best:

Reverse Mortgage Marketing Training Courses

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There are many resources to assist you in your reverse mortgage marketing.

There are several reverse mortgage marketing blogs that you can refer to.  Also, there are several FHA reverse mortgage guides help you understand reverse mortgages.  Two of the guides are on FHA reverse mortgage marketing training and FHA reverse mortgage qualifications.

Another helpful guide is “HUD Top 10 Things to Know About Reverse Mortgages.”

Don’t forget helpful information regarding senior citizens, such as “The Senior Citizens Journal.”  Seniors rely heavily on the AARP. Familiarize yourself with various articles that they have published on their website:  AARP Reverse Mortgages Information.