How often do you get a call from a past client, neighbor or friend with a question or just asking your opinion on a mortgage-related item? I just received a call from my mom. Now, I know... you're thinking "It's your mom. Of course she's going to think you're the best mortgage person out there." But this is a perfect example of the many phone calls I had over the years.
She called about a mailing she received. A very deceptive mailing. She thought it was from her servicing company. (It wasn't) New payment of only $109 per month. (Negative amortization in itsy, bitsy print most grandma's can't read) Receive $35,000 cash for only an additional $11 per month. (and I have some ocean front property in AZ to sell you) Rate is only 0.375% for SEVEN years. (Rates and terms subject to change without notice in even smaller print) I could go on.... but you get the picture.
My mom is smart. (see post) But she thought it was from her bank and there was some great new program out there. I think she forgot all those times she told me, "If it sounds to good to be true, it probably is." Many consumers get enticed by these deceptive marketing practices and make long-lasting mistakes.
This is where my original question came from. If you have a reputation as a high-quality originator and run your business on integrity and trust, you become a resource to others. This will even spill over into your non-client associates, neighbors, friends and family. Being known as knowledgeable, approachable and as an expert are the greatest marketing tools available.
Interestingly enough - the company that mailed this was so proud of their offer, they didn't even provide their name. Glad my mom called me!