Top Three Ways a sales manager used iEmergent Market Opportunity Reports

Posted By Bernard Nossuli on Mar 15, 2019

iEmergent has recently created new reports that focus on the mortgage market in a single Metropolitan Statistical Area (MSA).  These reports contain an overview of the chosn market's mortgage opportunity - both for the current year and with some insight five years down the road.   The report quantifies the market opportunity - in size, speed of growth, and density, along with a look at the current competition.   In addition, it focuses on the market mix of mortgage loan types (Conforming, FHA, VA, FSA/USDA, Jumbo) and on the different borrower groups (Asian, Hispanic, African-American, and the very important First Time Home Buyer market segment).   The opportunity data points are illustrated with detailed maps that highlight where these pockets of opportunity reside within the market -- drilling down to the neighborhood level.  

Although these reports are also utilized at a more macro level by executives, business development teams, and compliance professionals, this blog shares how one producing area sales manager (ASM) found value.  This ASM (who has asked to remain anonymous because he wants to keep this competitive advantage to himself) purchased one of our reports for his mid-tier central market in November and raved about it just six weeks later  Here are the top three benefits he mentioned:

  1. Great Conversation Piece: He shared the report with his top referral partners and together they developed joint marketing plans that targeted specific neighborhoods highlighted in the report.He was also able to go after first time homebuyers and other borrower segments. The data allowed them to develop a more comprehensive lending strategy with specific action plans.
  2. Targeted Advertising: Based on the report information, the ASM was able to go after specific zip codes and neighborhoods within areas of the city.He commented that he observed a noticeably increased click-through rate, particularly with regard to Facebook ads.Instead of covering the entire MSA, he was able to be much more precise, which decreased his advertising costs.
  3. Recruiting/growing the business: The ASM was able to get a much richer understanding of the competitive landscape by utilizing the table detailing the Top 25 lenders in the market. Armed with this information, he spoke to agents and other lenders that were also interested in growing their businesses, creating a virtuous cycle whereby successful agents wanted to work with the ASM and he could refer them more business.This process was particularly helpful when he wanted to grow his jumbo loans and he focused on working with agents to pinpoint areas with higher loan amounts. Beyond that, he utilized the report to size his market's opportunity - which helped him determine how many loan officers he needed to cover his market adequately.
Grand Junction Example PurLo

If an ASM - or his LOs - originate only two or three additional loans PER YEAR based on the information contained in our Market Opportunity Reports, these reports pay for themselves.  Considering the benefits this ASM saw after only 6 weeks, the ROI goes far beyond three loans.   An example of a Mortgage Opportunity Report can be found here: Market Opportunity Overview - Atlanta - 2018 Example.

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