Bliss Sawyer's Marketing Blog

Where'd I get that crazy name...

When people ask why I was named Bliss – I like to say I was born in the sixties (wink, wink.)  I was born in the sixties, but named after my great-grandmother.  I guess that’s why this article caught my eye.  It Might Seem Like A Commune But Co-housing Is Not A Sixties Idea was recently posted on the Mortgage News Daily.

This was an interesting article about a housing trend for communities built by residents with common interests or concerns.  I think the most familiar would be those for retired people or those over 55 with no children.

There is great value in staying abreast of housing trends and real estate facts.  Remember when your mom or teacher told you to read the newspaper and it would make you a more interesting person?  That’s what I’m talking about here.   Knowing about the real estate market (including the not-so-common, such as the article above) will give you a reason to talk to others and create opportunities for questions about mortgages.  In a non-intrusive way, you let others know you are an expert in your profession.

For the last 10 years, CNNMoney has been my home page.  There is a wide variety of articles related to every aspect of finance that will give you a broad range of topics to discuss with others.   Mortgage Market Guide is another place I go every day for instant information on interest rates and market news.  Whether you read online news and articles, industry magazines or the Wall Street Journal; you will keep your business moving forward as you work to stay up-to-date with this industry.  Someone may even find you interesting!

Does your underwriter like you?

How about your processor?  The receptionist, closer and funder?  Wouldn’t it be great if there was a way to gauge your likeability factor when it comes to support staff.  If you have worked in a tense office situation before, you know what I’m getting at.  Your success as an originator can be greatly helped (or hindered) by those you work most closely with.  Let me give you a few tips…

Underwriters – don’t overuse.  Think about your question before you waste their time.  Show them respect, and they will respect your need for answers.  Take the time to research questions before you ask.  If you are disputing a condition, have documentation to support your argument.

Processors – find out what they are looking for in paystubs, w-2’s, tax returns, bank statements etc.  Look first!  Ask your processor questions before you ask underwriter – you may be amazed at their knowledge or ability to find answers!

Don’t place blame.  It very well may be someone else’s fault, but you will go a lot further in this business if you accept responsibility for what you can change and stay as far away from blaming others as you can.   And remember, don’t go near any conversations about someone else in the office.  Unless of course, it is to praise them.

Rewards – everyone loves to be appreciated.  Come up with some creative ways to say thank you.  How about a pedicure, massage, lunch brought in, or (if you’re the boss) an extra 2 hours off for a movie or Christmas shopping.

Comment on this blog with your own ideas and experience in working positively with staff.  We’d all love to hear it!

Asking for Referrals

Does the thought of asking for referrals cause you to break into a cold sweat?  Are you worried about making the other person feel uncomfortable?  I have a simple piece of advice for you.  Get over it! This is one of the most effective (and cheapest) ways to increase your pipeline.

First, everyone you meet should know what you do for a living.  If they don’t, tell them that you are in the mortgage business.  The next step is to get in the habit of asking for referrals.  And just like everything else new, it will feel uncomfortable in the beginning, but gets easier with time.

Whether you are talking with Realtors, borrowers or business associates, end each conversation with the following statement:  Do you know of anyone that is looking for a mortgage?  If the answer is yes – write it down!  If the answer is no, follow up with:  Here’s my card in case you do come in contact with someone that needs a mortgage. 

Many times, people do not think to pass along your name simply because they have not been recently reminded that you are in the business.   Your reputation as a high quality originator coupled with a strategy of consistently asking for referrals will keep your phone ringing and pipeline full.  Try it today!

Sales Caffeine

Every Tuesday, I look forward to reading Jeffrey Gitomer's Sales Caffeine e-newsletter.  As you can tell from my recommended reading list - I've also enjoyed his last two books.  Loan officers that recognize the power of sales and marketing on their production are constantly looking for new ideas, guidance and inspiration.

Gitomer's books and newsletter have all three.  In his humorous way, you are shown how to truly succeed in your sales job.  It doesn't matter what interest rates or the real estate market is doing--if you continually strive to improve your sales and marketing, there will always be loans to fill your pipeline!

The bad news is that you will never master all there is to know in sales, you must ALWAYS strive for improvement.  The good news is that you are surrounded by resources!  You can also subscribe to my 2x monthly newsletter on marketing that is written specifically for mortgage loan officers.  Happy Reading!

Right from the horses mouth!

Dawn Parrish with Ameris Bank isn't actually a horse, but she hit the nail on the head when she sent in the following 'best marketing practice' to enter our contest.  If you are truly trying to develop and maintain a reputation as a trusted resouce, this will put you in front of Realtors, borrowers and closings agents (at a time when they are all most likely feeling good) giving you the opportunity to establish strong referral relationships.

I am a very new originator but I am already finding that the old reliable ATTEND YOUR CLOSINGS is still working wonders. The title company loves when I am there to answer questions and they are more than willing to have me make the explanation to the borrower.

Not only does it make an impression on your buyer, seller, realtor and the title company - but a recent experience emphasized how important this was. Another realtor had stopped by the title office to drop something off and the closing agent introduced us. The realtor said, "My lender never attends a closing." I smiled and handed him my card and said, "But she can - just call me." He was delighted and he called!

This is a practice that I truly feel contributed greatly to my success as an originator.  If you are feeling too busy, take the time to be there for the settlement statment, note and trustdeed, explaining that you can be reached by phone if there are other questions.   Especially if there were problems during the loan process, this step will be the one that is remembered.  Thanks, Dawn for the great reminder!

Give Yourself a Christmas Bonus

Each year it's the same.  We get to November and everyone starts slowing down.  I don't mean production slows down, though that is what happens in the end – just like a self-fulfilling prophesy.  I'm referring to the slowdown that comes because we think one of these thoughts….My Realtor’s are taking time off this holiday season, they won’t want me bugging them.  People aren’t thinking about buying a house right now.  I’ve worked hard all year, I’ll get back to work in January.

Guess what?  People are buying houses and looking to refinance or get a second mortgage.  If you want to end the year with a great month (and start off 2007 with high production) don’t get caught in this trap.  Keep working.  Or think about working even harder!  Take the time to market yourself in some way every day. 

The sweet thing is this – most of your competition is slacking off right about now and there is a need for you out there…you just have to make sure everyone knows you are working.  Everyone likes the thought of a Christmas bonus, you have the power to give yourself one.  All you have to do is find one more loan. 

 

Look at your schedule this week.  Take at least two Realtors to lunch.  Send out thank you's for recent closings.  Make sure your sphere of influence gets something from you in November and December.  How about handwritten Christmas cards to all the clients you closed in 2006?  Spend some time today brainstorming marketing ideas for the next six weeks.  I'd say a nice Christmas bonus is worth it.

New and Improved Website!

  I have wanted to update my website for some time...and after preaching the importance of "taking action" to all the loan officers I work with, I finally took my own advice.  But I could not have done it alone! 

Daniel Ingram with Media Cafe has been fantastic to listen to my ideas and mold them into something that works!  And again, Shan Renee with Captured Photography came through... making me look great (and not the least bit crazy!)  See the post below for more on Shan.

I'm also grateful to the many people that offered suggestions and comments.  This is still a work in progress and we have other great ideas we'll be implementing, but would love to hear your opinions!  Please take a look at the new website and let me know what you think.

Remember to bookmark the new website - our goal is to regularly update the Free Stuff! section with great ideas to help you succeed.

Win a ticket to M.O.M Success Seminar in Houston or Orlando!

 

E-mail us your best marketing practice by November 22 and your name will be entered in a drawing to win a ticket to Mortgage Originator Magazine’s Success Seminar ($169 Value) in Houston, TX on December 8 or Orlando, FL on December 14.  There will be four tickets given away for each seminar.  Enter today!!

Houston speakers:  Bliss Sawyer, Sue Woodard, Jim McMahan

Orlando speakers:  Bliss Sawyer, Greg Frost, Barry Habib

Entries can be emailed to: Bliss@blisssawyer.com and must be received by November 22 to be eligible for the drawing.  Winners will be notified by email on November 25^th.

How You Approach Problems is Crucial to Your Success

In this business, problems are going to come up.  Have you had a 'fire' to put out lately?  Exactly.  You may try to know every nuance of each loan program and diligently work make sure your borrowers have all their ducks in a row before submitting a file; but we all know problems will creep up.  Sometime we may be at fault, but more than likely, it is something that was beyond our control.

That doesn't mean it isn't in your control once you know about it.  How you handle a problem as it arises is critical to your reputation, peace of mind and continued success as an originator.  Let me give you a few suggestions.

1.   Immediately look for a solution.  If you can take care of the problem within a short time, get it done and then life can go back to being fun. 

2.  If a solution must involve other people, do not wait to ask for help.  You may be tempted to sit back and worry about the implications of asking for help...big mistake.  Being proactive in this situation is the best course to take. 

3.  If it looks like a solution will take a while, contact the parties that will be affected (borrowers, Realtor, builder etc.) If you feel reluctant to pass along the bad news - get over it!  Taking action is the only appropriate way to handle your business.  They will appreciate your action-oriented approach.

4.  Sample script to Realtor or borrower:  "I'm calling to let you know that we discovered a problem with the appraisal (title, bank statements etc.)  I have already (list what actions you have taken) and will stay in touch with the appropriate people to make sure this is resolved.  I hope to have this taken care of by (it is important to give an approximate time frame, but be conservative.  It is always best to solve problems sooner than expected.)  I will contact you tomorrow to give you another update.  Please know that we are doing everything we can to get this resolved."

This approach to problems serves many purposes.  The stress of problems will become more manageable as you feel in control.  Realtors will want to trust their future clients to you.  They know problems come up.  They just don't want to work with a lender that doesn't take care of them properly.  Borrowers will appreciate your straight-forward manner and closing will still be a happy event, even if their were problems during the process.