Bliss Sawyer's Marketing Blog

What's Your Motivating Message?

By David Bush

To live out our dreams and to truly live the life we were created to live, we must stay true to our Life Plan that includes all our life goals and dreams and we must have a motivating message to keep us focused.  Life sometimes doesn't recognize that we have a plan and sometimes we veer off the intended course for one reason or another.  The primary reason we see most people defer from their plan is due to a lack of self-discipline and commitment to their long-term dreams and goals.   

A former NAVY SEALS Trainer was once asked in front of a large audience what it was that they did inside their SEALS training that prepared this group of special forces officers to endure such dire circumstances in battle without losing their focus on the job at hand and the trainer responded "We teach them to NEVER QUIT".  The audience wouldn't accept his answer.  "Come on you must train them using unique psychological techniques or have some special program to train them to endure such things as torture and other near death circumstances" and the NAVY SEALS trainer responded quite firmly "We train them to NEVER QUIT". 

The reason why the NAVY SEALS are so highly regarded in their field is because they NEVER QUIT.  They have an extremely high success rate of accomplishing goals because of this act of self-discipline.  Now let me ask you a question.... What if you decided not to quit on your plans, dreams and goals?   Where would you go in the world today?  I imagine you'd go as far as you wanted to go.

Motivating Message
What is the message that you repeat to yourself when you're tempted to veer off the course of personal success?  Each of us needs a motivating message that brings back our focus and motivation to stay the course to help us achieve our goals and dreams. Let me share a few examples with you....

"My long term commitment is greater than my immediate desire!"
"I won't quit"
"I can do this"
"Failure is not an option"
"I was created for this moment...I will stay the course!"

By saying a statement like this when you're tempted to give up and/or veer off from your plan, you'll be energized and motivated to accomplish the things you've always dreamed about and you'll live the life you were created to live!
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David Bush is the founder of eLifePlans.com and is a speaker, coach and consultant to mortgage business owners, managers and loan originators across the nation.  David is also one of the founding members of MyMortgageCommunity.com, the nation's premier online community for mortgage professionals.

My (not so great) experience as a seller

I am currently in the process of selling a rental property.  The contract was signed almost 5 weeks ago, with a closing scheduled for this Friday.  At the beginning the lender assured my agent that the buyer was excellent and there would be no problems.

As we have gotten closer to closing, my agent repeatedly left messages for the lender to get an update on the appraisal, etc.  No return calls.  The buyers agent said the appraisal was ordered a week ago.  The appraiser just called yesterday to say she just received the order.

I decided to make a call to the lender.  My first message was not returned.  Luckily, my second call went through.  I explained my concerns regarding closing on Friday and the lender informed me "I close 3 million a month and have zero fall out because of my error.  If I wanted the appraisal this afternoon, I could get it."  I was so shocked, I could only respond with "Then I will plan on closing Friday" 

The only problem with this is that the title company just received the order and say there is no way they can close this transaction on Friday.  Well, I did what hopefully every consumer does in this situation.  I called the manager.

Lesson to be learned - Who is to say I am not a potential borrower?  Or perhaps the listing agent is looking for a new lender.  Your reputation must be evident in every contact you have.  EVERYONE has the potential to increase your paycheck.  Cocky and patronizing are not words you want used in describing you as a lender.  Empathetic and considerate would have gone a lot further.

Priorities

I loved this article on Priorities by Peter Lowe.   We can all use a dose of what's important now and again!  Enjoy...

P - People over things.
We all work and spend a lot of time pursuing our vocational goals. But the danger comes when a "job" always takes precedence over people and our relationships with them. Are you working primarily for job recognition, financial rewards, or power? In your pursuit of your vocational goals, people and their needs must always be kept in mind. Working 10-12 hour days and just tossing crumbs of time to your spouse, children, close friends and employees will achieve nothing but alienation and loneliness.

R - Realistic Attitude.
There are very few people who achieve everything they set out to. Making a list of all the things you consider important, the tasks you want to perform (daily, weekly, long term) will inevitably result in some things not being attained. William James once said that being wise is "the art of knowing what to overlook." Refuse the little "power sappers"

I - Ideals.
Make room for your ideals and dreams. It was probably some part of your youthful dreams that brought you into your current profession. You still have those dreams inside of you. Keep them alive. A person who has dreams is filled with expectation, and no obstacle seems insurmountable. He has a positive attitude, is excited and is never bored.

O - Order your life.
Forty years ago, a time management consultant was asked by a steel company president to share his best one idea for time management. The consultant thought for awhile and replied, "I will do that on one condition: that you will pay me after one month of implementing the idea what you honestly think it is worth." One month later the steel company president sent the consultant a check for $25,000. The idea?
Start working each day on your top priority and keep at it until you're done. Always be doing your top priority! Robert J. McKain has said, "The reason most major goals are not achieved is that we spend our time doing second things first."

R - Risk
It's difficult to achieve greatness in life without occasionally taking a risk. Most great leaders throughout history were never men and women who "played it safe" all, or even some of the time. For example, think of people like George Washington,, Florence Nightingale or Martin Luther King, Jr. Risk taking was a way of life for them. A study was once done in which 50 people over the age of 95 were asked
one question: "If you could live your life over again, what would you do differently?" Three answers constantly emerged from their answers.
* If I had it to do over again, I would risk more.
* If I had it to do over again, I would reflect more.
* If I had it to do over again, I would do more things that would live on after I die.

Don't worry about failure. He who does not attempt a task because of the possibility of failure has failed already. We should fear stagnation, laziness and boredom much more than we fear failure. Teddy Roosevelt once said, "The credit belongs to the man...who strives valiantly, who errs and comes short again and again; who knows the great enthusiasms, the great devotions, and spends himself in a worthy cause--who, at best, knows in the end the triumph of high achievement; and who, at worst, if
he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who know neither victory nor defeat.."

I - Initiative.
Take it! True leaders push on with ambition and drive. You know what needs to be done and you must have the confidence that you are the best person to do it. Also realize that there are some things on your list which can be best achieved by someone else (a co-worker, etc) who has the expertise to do it faster, better, and with more enthusiasm. Take the initiative and ask!

T - Take Control.
Always keep in mind that you are the "Master of the List" and not the other way around. A young concert violinist was asked the secret of her success. She replied, "Planned neglect." Then she explained, "When I was in school, there were many things that demanded my time. When I went to my room after breakfast, I made my bed, straightened the room, dusted the floor, and did whatever else came to my attention. Then I hurried to my violin practice. I found I wasn't progressing so I reversed things. Until my practice period was completed, I deliberately neglected
everything else. That program of planned neglect, I believe, accounts for my success."

Y - You.
Your priorities must reflect you - who you are, what you want to achieve in life, your dreams, your goals, your investment of all that you are. Invest in yourself daily and try to live a balanced life--physically, spiritually, mentally and socially. Stephen Covey observes, "The spiritual dimension is your core, your center, your commitment to your value system." Take time to pray and read the Bible, for as Dwight Eisenhower said, "In no other book is there such a collection of inspired wisdom, reality and hope."

Some years ago a newspaper story told of 300 whales that suddenly died. The whales were pursuing sardines and found themselves marooned in a bay. Frederick Broan Harris commented, "The small fish lured the sea giants to their death....They came to their violent demise by chasing small ends, by prostituting vast powers for insignificant goals."

Remember these principles and you'll come to the end of your life with very few regrets

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Selling to the Seller

High producing originators are successful because they continually look for new ways to market and place themselves in front of an ever increasing number of potential buyers.  Every day and at every opportunity, these originators are trying new ideas.  Today's marketing tip is one of those ideas.  We are currently in a purchase market.  Take this opportunity to sell your services to everyone involved in each transaction.

    In my 15 years of originating, training and coaching, I know of only one other loan officer that solicited business from the seller. The majority of people selling properties are relocating within commuting distance and will be purchasing a new home once their current home sells.  This is one more simple step to put your name in front of potential buyers.

    As you begin the loan application, send out a letter introducing yourself to the seller.  Let them know you are the contact person and are aware of the agreed upon closing date.  This is a nervous time for many sellers - show your empathy to their situation and give them reassurance that all will be well with the settlement of their home.  Then offer your services, emphasizing your strengths or those of your company, ie:   years as an originator, "number one company in the area" or special programs you may offer.  Add a coupon, magnet or personal brochure to your mailing to increase the odds of it getting read and kept. 

    Your success rate will also increase if you take the additional step of making a follow-up phone call.  The letter has already paved the way as an introduction and you can simply ask if there are any questions you can help with.  Use this phone call to find out their reason for selling.  If you are associated with a company licensed in multiple states, this is the time to sell this point to those that are moving out of state.  Remember, this is a relationship business.  People want to work with someone that cares about them.

    I have attached a link to a sample letter.  Use your creativity to make it fit your personality - this letter should sell you!

Seller Letter

"Owning" Your Production Business

If you want to increase your income, start looking at yourself as being self employed.  Employees of an organization tend to base their performance on what management or “the boss” expects.  Individual owners of a business, on the other hand, think about the results - regardless of who is watching.  Human nature is such that we take better care of something we own.   You will find yourself doing whatever it takes to remain successful and competitive, because that is how you now define your business.

Individual loan officers, regardless of their company marketing strategy, should have their own marketing budget.  This can be anywhere from 5-15% of gross income.  Realtors have been using this philosophy for years.  The successful ones follow it.  One of the natural results of spending money on your business will be branding yourself as a long-term professional that is trustworthy and credible.  If you utilize a combined plan of “buy-in” (spending money for name recognition and referrals) and “work-in” (spending time for name recognition and referrals) to your business, the benefit of higher production will come at a faster rate.

There are as many ideas as there are dollars to spend, limited only by your own imagination.  There are lenders that spend their budget on “wine and dine” tactics to develop relationship with Realtors and other referral partners.  Other lenders spend money on big ticket items and have done such things as purchasing a moving van with their logo on it for customers to use or hiring a marketing assistant. 

Also, the simple idea of giving closing and referral gifts can be highly successful. Giving something that says “Thank You” and reminding people that you work on referrals is a great way to end a transaction.  A gift for the home, such as a self-inking stamp, a basket with cleaning supplies or a potted plant, are all inexpensive, thoughtful tokens.  Use this as a place to brand yourself by putting a label that has your name, phone number and “Thanks for Referrals.”

As you look at your current marketing and business practices with the idea of ownership in mind, a surprising thing will happen.  You will find yourself spending more time expanding, or tweaking current marketing strategies and allowing your mind to open up to new, innovative ideas.  Your motivation starts to change and you create excitement for this business of yours.  It is as if your marketing goes into perpetual motion.  One exciting idea leads to another and so on and so on.

Neighborhood Letter

Realtors are constantly being asked to give referrals to us, yet they rarely see referrals come back from originators.  Some Realtors are even stating this as a requirement if you want to have a relationship with them.  This is a great opportunity to get your foot in the door.  Let agents know that you understand the importance of a win-win relationship and want to reciprocate their referrals.  Here is one way you can help the Realtors gain more exposure.

The Neighborhood Letter (see link below) is an effective way to show Realtors that you want to help their business and are willing to take action.  This step also reinforces to borrowers that your business is based on referrals.  At closing, ask buyers for their permission to send a letter to their new neighbors introducing them along with mentioning the role you and their Realtor played in the transaction.  Most borrowers are more than willing to let you introduce them to their new neighbors. 

This marketing tool is a fantastic way to show that you are trying to give back to the Realtor.  Invite your Realtor to lunch and take a sample letter to explain what you plan.  To be in compliance with RESPA, the Realtor must participate in the expense of this venture.  You can invite the agent to cover postage or provide the letterhead and envelopes.

This letter is one sample of what you receive in our Realtor Marketing Program. 

Neighborhood Letter (word document)

No Cost Closing Gift

Being present at your closings is one of the best places to market and reinforce a business strategy of working primarily on referrals.  Take this opportunity to give some type of closing gift to help cement a relationship with your borrowers.  This can also help to smooth over any rough edges that may be left over from the loan process.

In the past, I have given everything from a plant, a candle, a jar of house shaped pasta and a self inking stamp.  These are all great ideas, but the return on investment is probably not as high as possible.  The following idea is free and can also help you to develop other referrals sources.

Create a "Welcome to the Neighborhood" packet with offers from local businesses.  Such items as $5.00 off an oil change, 10% savings on plumbing services, buy one sandwich - get one free, etc.  This does require time and effort, but that is also the best part, as this is another networking opportunity for you.  As you contact local businesses, give them your business cards and explain what you are doing and that you want to help expand their business.  As you show  interest in their business a mutual feeling of trust will develop and leads will naturally follow.  Here are a few ideas to get you started:

Plumber
Electrician
Landscaper
Sprinkler installation/repair
Pool guy
Handyman
Car repair
Furniture store
Oil change
Local pool or rec center
Computer repair
Nursery
Ice cream place
Restaurant
Pest control
Bowling alley
Carpet store
Cleaning service
Accountant
Jewelry store

You could probably open the phone book and find many more.  It is a good idea to get places close to your location so you can visit their business regularly and hopefully maintain a long-lasting networking relationship.

At the point of prequalification or application, mention this package of savings you provide at closing for your borrowers.  This may be one of the small things that sets you apart from other lenders and lands you the deal!

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