Bliss Sawyer's Marketing Blog

Are you talking to clients about dropping rates?

Rates are dropping and may continue to do so... this is a great piece of news for you to share with clients and Realtors.  I read an excellent article stating the case for a possible significant rate decline.

"The Federal Reserve said Tuesday morning it would spend $600 billion in coming quarters to buy the bonds and mortgage-backed securities issued or guaranteed by Fannie Mae (FNM, Fortune 500) and Freddie Mac (FRE, Fortune 500). The move, the Fed said, aims "to reduce the cost and increase the availability of credit for the purchase of houses, which in turn should support housing markets and foster improved conditions in financial markets more generally."

 ...the government will need to bring the rate down into that range to create demand for mortgage refinancing, and to get current homeowners who'd like more room or a better location to think about making a change.Larkin notes that homeowners who took advantage of the last refinancing opportunity in January, when rates on a 30-year fixed mortgage dropped briefly to around 5.5%, won't be tempted to refinance again - thereby incurring additional fees and in many cases having their houses assessed at lower values - till rates go substantially lower."

Click here to read the article in full.  Share this article with your Realtors - potentially great news for their business!

IF this government action works (and that remains to be seen) you just may have a bit more job security moving into 2009.  Here are some marketing ideas for you:

• Send an email to your database with a quote from this article.  Let them know you are monitoring rates and can answer any questions they may have.

• Create a flyer or letter to send to your database with information on rates and what is happening in the market.

• Offer to do a 5 minute presentation at Realtor sales meetings on current marketing conditions and how they can sell more homes by helping their clients to have more confidence in the market.   Let them use your email/flyer/letter from above as a template for a marketing piece to their database.

• Contact local radio stations and ask if you can do a question and answer segment on this topic.

Realtor Phone Calls for Thanksgiving

If you are going to be in town over the holidays, here is a no-cost marketing idea.  Today or tomorrow, call the Realtors you would like to get business from with this message (if you get them in person, be more conversational, asking about business,etc.)

"Hi, this is Bliss Sawyer with ABC Mortgage and I wanted to wish you a Happy Thanksgiving.  I will be in town all this week and weekend if you or your buyers have any questions.  Interest rates are great and I would love to help your buyers with their mortgage needs.  If you have any questions or would like me to prequalify your clients, I can be reached at (cell phone).  Have a blessed holiday."

Happy Thanksgiving! 
Bliss Sawyer

Not sure what to say in a presentation?

I was recently working with one of my coaching clients who was preparing for a 15 minute presentation to her networking group.  She also wants to start doing presentations for some of the Real Estate offices in her area.  This basic formula can be used for just about any presentation opportunity. 

1.  Why the fear?

q       Jobs market

q       Credit crunch

q       Dropping values

 

2.  Reasons YOU (your audience) should be confident

q       We are close to the bottom (try to find a quote from an economist or the Realtor Assoc.)

q       Rates are great!

q       Tax credit for FTHB

q       Buyers market

q       Real Estate always has been and always will be a great long term investment

 

3.  How can YOU benefit? (remember to always spell out "what's in it for them")

q       Great time to purchase a new home or investment property

q       Young families and professionals are in a good position to purchase a home

q       Excellent time to refinance for a lower payment or consolidate debt

 

4.  Why (your company) and (you)?

q       Stability

q       Products

q       Experience

You can also use this as an outline for a letter to your database.  Give people a reason to trust you and feel confident in their choice to purchase a home or refinance.

Speeding tickets should be tax deductible

    

I have been trying to obey the speed limit.  I admit to having a small problem with this in the past, but am now dedicated to being a law-abiding citizen.  Unfortunately, last week I was traveling back from a hike with my kids and dog and when I went from the Interstate to the Highway, I didn't notice the change in speed limit.  The highway patrol officer did. 

I must have a sign on my forehead that says, "No second chances.  She doesn't deserve it."  Because I NEVER get warnings.  My mother does.  My husband does.  I don't.  The officer also might of had a problem with my Chihuahua that really wanted to eat him.  Income from speeding tickets goes to fund government spending.  Donuts, coffee, etc.  And since, like taxes, we are required to pay our speeding tickets, they should be tax deductible.  I think I'll start a petition.

What does this have to do with mortgages?   Remember, I can relate pretty much anything to mortgages and marketing.  Our industry was on the interstate for many years.  Maybe even going a bit over the speed limit - but hey, we didn't get pulled over so it must have been ok.  Now we have been detoured to a one lane country road with potholes and roadkill.  It's a whole different game and if you don't pay attention to the rules, you will not make it to the end.

Every originator I talk with is feeling the frustration of changing underwriting guidelines and seemingly unnecessary conditions on loans.  You thought you had done everything right; you just didn't see the speed limit change a half mile back.  You can get upset, even yell at the underwriter; but I pretty much guarantee that you won't win.  The best piece of advice I can give right now is to be flexible and remember that this hasn't been easy for anyone.  Everyone is trying to survive.

Your ability to be flexible and likeable, even in stressful situations, will gain you more support and assistance than any argument you could come up with.  Yes, you still need to work hard for each client and loan, but do it in a kind and considerate manner.  And be glad you don't have to pay a fine for each underwriting condition... even though that would definitetly be tax deductible.

The Exceptional Presenter

I highly recommend that originators do presentations in order to increase visibility and improve their reputation as an expert.  Presentations can be anything from Realtor sales meetings, networking club meetings, First Time Homebuyer seminars, credit card seminars, one on one meetings with financial planners, divorce attorneys or CPA's to really any opportunity you have to offer information.  Yes, it does take work but costs are usually fairly low and returns can be high.

The Exceptional Presenteris an excellent book to help anyone that is going to be in a position to present information - in any format.   Timothy Koegel does an outstanding job of breaking down the work it takes to be an exceptional presenter. To quote Koegel "It's not rocket science - it's rocket fuel."  If your business needs a bit of fuel to bring in referrals and high-quality loans, then consider improving your presentation skills and then offering information to a variety of audiences.

As I was reading the book, the one section that at first I thought didn't really apply to originators was about job interviewing.  Then I realized that the majority of what Koegel discussed could be directly applied to working with prospects.  In reality, you are applying for the job of their loan originator and I wonder if you improved your presentation skills if you would also improve your prospect to closing ratios.  It's worth spending $15 bucks and a few hours reading to find out.

Gift certificate idea...

I've had a couple of loan officers that I work with mention www.restaurant.com as a great place to get gift certificates at a lower price.   Giving a gift certificate as a thank you is a great way to strengthen those referral relationships.  I still remember a thank you note with a restaurant gift certificate that I received over 10 years ago.  I hadn't expected it and the gesture was obviously remembered!

This is also a great resource to get discounted coupons for you to use to take Realtors and others out to lunch.  Watch for restaurant.com specials as you can often get great discounts on their promotions.  If you have had experience using this site, let us know in the comments below... or let us know what you use for a thank you gift.

The power of a greeting card

I recently heard that greeting cards have a much higher "open" rate than regular #10 size envelopes.  I'm sure this is because we all have memories of the birthday cards Uncle Joe used to send with a few dollars each year.  There is just something a little more personal about a greeting card. 

 

Last week, I received this card from a friend that uses Velma print on demand features.  The card was to congratulate me on the Texas Tech win over Texas.  (Of course they won because I was the ultimate fan, wearing my Texas Tech shirts three days in a row while on vacation.) 

The card definitely brightened my day and will long be remembered.  Print on demand programs such as Velma or Send Out Cards are a great way to get personal with clients using technology.  I also received another card recently (I must have misplaced it, so I can't show a photo) that had 4 business people on the front holding a large sign that said "Bliss Rocks".  The inside was a simple thank you note.   Huge impact.

The best part is that it is so simple to add a photo or image with print on demand systems.  Much better than using generic thank you or note cards.  I also love that I don't have to go to the store to find the right card and since I am usually out of stamps, print on demand is perfect for me.

I realize that I've done two posts in the last two weeks on writing personal notes... but hey, it's important!  Who have you written to today?

Do you need a new picture?

As many of you know, I am a big advocate of using a professional photo in your marketing efforts.  Business cards, websites, marketing pieces, etc.  Unfortunately, we often get a nice photo done and then use it for many, many years.  This was the case with the previous photo I had here on my blog.   I didn't want to repeat the photo I have on my website, so I resorted to an even older picture.  After more than two years on the blog... it was time for a change.

A blog is a bit more informal than a website and I wanted (wrinkles and all) a new photo.  In my coaching and teaching about utilizing a blog as a marketing tool, I always tell people that their blog is a place to let their personality come through.  They can express opinions (to a point:), show their funny side and even give people a glimpse into their personal lives.  This gives others the opportunity to say "hey- we have something in common" or "this person is interesting" and you are then on your way to a relationship. 

If your current professional picture is past its prime, consider getting a new one done.  Ask your photographer if they will do different shots of you in different outfits.  Some, of course should be very professional and then get a few with more personality.  Even if you don't have a blog - look for ways to use different photos in your marketing.  Often times, people feel that they know you after seeing photos.  A great start to building a relationship.

Back in October, 2006, I did a post on why we used a Shan Renee for our family picts.   Two years later... there wasn't anyone else I would consider for another fun session of family harmony as I yelled at my kids to stop ruining the pictures with their arguing and the swarm of evil mosquitoes's tried to kill all of us.  Here are two of my favorite (informal) shots...

 

The Boys:  My husband (the professor), Andrew (18 - the college man) and Braden (13 - our musician)

 

The girls:  Me (the marketing guru), Kayla (21 - just left on a church mission) and Shea (9 and the center of the universe)

I love candy!

Ok... If you are like me, you are on sugar overload.  I always eat too much over Halloween... hey, I figure I am protecting my kids teeth by eating their candy.  So even though it might be bad timing, I wanted to share a website with you.  www.southwestcandy.com is a great place to find bulk candy.  For the office, for marketing events or just for fun, this is a great site to find what you need.

I love those small candy canes... you could do a fun marketing campaign around the holidays.  "I "can"e do your loans!  Merry Christmas" or something less corny....  the creative side of my brain still seems to be on vacation and that's all I could come up with at 10 pm on a Wednesday.

I know these mints are used by restaurants... but why not have them on hand for clients or to put with a thank you note.  A nice way to let people know you appreciate them.  They are small enough to fit in an envelope.

 

Video Marketing Webinar

During my recent Database Strategies Webinar, Jacob Nordby mentioned that he stays in touch with his database (and attracts new clients) by using video through YouTube.  This live class will be on held on November 12 at 12:00 CST.

Jacob has had great success with this technique and is known as an expert in his community.  (One of the easiest ways to get referrals!)  This virtually no-cost marketing is a must for anyone that wants to do something that will set you apart from all your competition.  Join Jacob and I next Wednesday for this great e-class.

Click here to find out more and register.

Keep that $200 in your pocket

I have recently had a good friend (insurance agent) and a mortgage originator pass along some valuable feedback on Jeffrey Gitomer's live events.  As many of you know, I often recommend Gitomer's books and Sales Caffeine newsletter.  I have found his information to be entertaining, highly valuable and right on target with what I call "high-quality originating".  I've quoted him in many of my presentations and encourage people to purchase his books.

After the feedback from these two people (who attended live events at different locations) I am going to recommend that you DO NOT spend the money to see Gitomer live.  I have been told that he is very abrasive to the point of offensive and this takes away from the message he is presenting. 

So save yourself some money and just purchase one of his books or sign up for his free newsletter.  If you have opinions on this... feel free to comment below.