MODULE 10 BANK MARKETING STRATEGIES Presented by Kimberly Stevens Independently owned and operated
MARKETING STRATEGIES:: How to get business from banks Who to contact What to ask What brochures and letters What is the best pitch What report forms to use
Market Segments Banks:_______________on new home construction. 2) Banks:_____________________on existing buildings. 3) Mortgage Lenders—Residential loans on existing and new homes.
Introduction to your Bank Strategy Banks provide short term ________________ to builders and may require or recommend inspections to their lending customers. ________________________, located at banks or independent mortgage companies, provide longer term mortgage loans (e.g. 15-30 yrs on residential and commercial property) and can refer their lending customers to you.
Question • Type your answer in the dialog box. • Have you marketed to banks?
Draw Inspections for Banks • Banks release funds to builders in a series of “draws” over the course of constructing a home or commercial building. • Before each ___________________ a draw inspection is typically performed to assure sufficient progress is being made on construction. • Someone must go out to the construction site over time and note the ________________________________of roofing, siding, interior components, etc.
So…what’s the strategy? • A) Start with gathering information before you start “pitching” your service. Stop by or call the bank and ask to speak to the ____________________loan department or the _________________loan department. Ask if they loan to builders of new homes. • B) Ask for the person in lending who is responsible • for ordering____________________Be sure to get their business card or their contact info. • C) Introduce yourself and ask if they they have 5 minutes or to set an appointment.
3 key questions… • Ask who currently does the draw inspections. It might be a loan officer, appraiser, national draw company or another home inspector. • "How is your current draw system working for you?" (Open ended questions, your job is to listen for problems or opportunities.) • “Are you experiencing any challenges getting your draws covered due to time restraints or location? “ If so, suggest that you can help solve their problem and explain how you can do so.
Get your foot in the door • If the bank has their own loan officers do the inspections, ask, "Have you considered that having an independent third party inspector such as NPI perform your draw inspections would better protect the bank since we are unbiased and completely impartial in our reporting?” • Suggest it might be more effective for their loan officers to be working on new business loans instead of spending time on draw inspections, without tools, proper attire and training. • If they have a system in place and seem reluctant to change, ask if they would try you as a back up in overflow situations, out of town locations, or for appointments that haven’t been booked yet.
If banks are using Appraisers you can say • “Draws are meant to protect banks from builder’s taking advantage of the banks $ and taking off right? Appraiser’s know values of homes but as inspector’s we know construction and inspections, which is entirely different. • “As a trained inspector I am trained to report if a builder starts cutting corners I am the banks eyes.” • carpet in before it should be • vinyl flooring in house that should have tile
Follow Up Email To the decision maker once a month to get a meeting. "This is _______ from National Property Inspections I wanted to ask how your draw inspections are coming along and see if there is an inspection I could help you with this month to give you a chance to see my service in action. I know in business it is always good to know your options, and knowing you have a reliable choice with National Property Inspections could serve you well.” ____________
Commercial inspections on existing buildings for banks. Performed for the buyer, may be required or recommended by the bank. Ask , “Can I speak to the head of the commercial loan department and ask about their requirement on loans for existing buildings, whether they require or recommend inspections. Ask for an appointment but realize this might be a different decision maker than who is in charge of Draws.
Home inspections on existing and newly completed homes for mortgage Lenders. Mortgage offices can recommend you to home buyers applying for mortgages, for existing and new homes. Mortgage offices are located in many banks plus there are many independent offices. They establish a trust relationship with clients and have influence.
Bank Letters & Bank Brochures LETTERS AVAILBLE FOR YOU Commercial Inspection Letter Commercial Draw Inspection Letter Construction Progress Draw Inspection for Commercial and Residential Commercial Inspections Impartial Inspection of a New Home Construction Progress
Reports for Bank Inspections Some banks have their own report forms, ask preference We have fantastic report forms for you in your web library _____ is your go to EXPERT on bank, commercial, draw phase and other field inspections. Take advantage of his vast knowledge, experience and help from biding these jobs, doing the inspections and writing the reports. NPI has your back!
What we learned and discussed SUMMARY: How to get business from banks Who to contact What to ask What brochures and letters What’s the most effective sales pitch What reports to use
Knowing is not enough, we must apply. Willing is not enough, we must do.Johann von Goethe
Question, Answer & Share Time Please contact me with questions, comments or to discuss your strategies M-Thursday I take calls and you can email or text me anytime! Kimberly Stevens 402-658-5939