I have spent a bit of time at my favorite title company this week. They have been slammed. Crazy. Utter chaos at times... especially since they are at the mercy of the mortgage company closing departments and often they don't receive docs at the appointed times, requiring them to shuffle everything else to accommodate as best as they can.
Throughout my 19 years in this business I have had some wonderful title companies, escrow officers and assistants that have made my job much easier. Why not recognize them in some way? Now is the perfect time drop of a fruit basket or sandwiches and sodas. Take a few flowers to your favorite closer that has probably been buried in the office the past month.
Let me ask you this... Have you received referrals from your title contacts? The loans I have done for Realtors (their own personal loans) and my title friends have truly been some of the highest compliments I have received in my career. It says they trust me, they value my expertise and I have greatly appreciated each one.
I know you are probably very busy, perhaps headed out of town for the holiday, but take a few minutes today or next week to recognize the hard work of your title company.
If you are in town this weekend, take a few minutes to call all the Realtors you work with Friday morning and leave them this message: "Hi, this is (name) and I wanted to let you know that I am in town and available all week. Interest rates are edging down and I would love to help your clients get into their dream home."
If you call their office number early enough in the day, you will most likely get their voice mail (my preference.) You can also use a system such as Slydial that allows you to leave a message without their phone ringing. Of course,contacting them in person and having a short conversation is especially great if you haven't talked with them in a bit.
For Realtors that don't currently use you, but you WANT to get business from, use this message: "Hi, this is (name) and I wanted to let you know that I am in town and available all weekend if you are unable to get a hold of your current lender. Interest rates are edging down and I would love to help your clients get into their dream home."
This is a great reason to contact each Realtor and show your dedication to helping their clients. You can also send an e-mail, though it isn't as effective. Better yet, leave a message AND send an e-mail. It can't hurt - and it just might bring in a few referrals!
Happy Memorial Day!
After my post yesterday on asking for referrals, I got an email from Ryan asking this question: "when I send a thank you note, should I just leave it as a thank you note, or also take the opportunity to ask for referrals?"
Here is how I responded to Ryan:
I always write a nice thank you message (making it personal to their situation) and then under my signature, in smaller writing, write "p.s. I would love to help any of your friends and family with their mortgage. Feel free to pass along my card." I also include at least two business cards.
I feel this emphasizes the purpose of the card but doesn't miss out on the opportunity to reinforce that I work on referrals. Set a goal to send out a thank you card within a week of every closing. If you aren't in the habit of doing this, make the task an assignment on your calendar with an alarm.
My friend Mark, who originates out of Florida shared one of his marketing tools with me yesterday. It's so simple and fabulous, I can't believe I hadn't thought of it before.
Once his refinance borrowers three day right of rescission is past and the loan has recorded, Mark calls to let them know the loan has funded and see if they have any questions. Here's the fabulous part:
He asks for referrals!
Now, you were probably at your closing, and hopefully you asked for referrals; but you now have an additional opportunity to educate your borrowers that you work on referrals. Here's my favorite way to ask... "By the way, do you know of anyone else that might be interested in refinancing?" Low-key, non-pushy and it works!
You may be thinking “UGH! Open houses are a waste of time. No one shows up and it’s my weekend!” This assignment is only for those that want a business based on relationships. First of all, open houses are not to meet prospective clients. If that happens it’s a bonus. The primary reason you go to open houses is to develop your Realtor relationships. Realtors are often bored at these events and have been pressured from their seller to offer it. Breeze in, break up the day and be their hero.
Let me give you a few ideas. Modify to fit you and COMMIT.
1. Dedicate two weekends a month to visit at least three open houses.
2. At least one of the three should be with a Realtor you do not know well (or at all).
3. Take something like a small cooler with ice cream if it’s hot, donuts, hot chocolate, promotional items, etc.
4. Go with a positive attitude. Have information to share…something good about interest rates, a new company moving to town (jobs growth is directly tied to local housing markets), or the real estate industry in general.
5. Share your Rule of 5 or other strategy you have to help their business.
6. Follow up on Monday with an e-mail, thank you card or invite to lunch.
This week, contact your Realtors to see if they will be having an open house in the near future. Schedule time to go to at least two open houses over the next couple of weeks.
As many of you know, I have a BHAG (big, hairy audacious goal) to bike 50 miles in all fifty states. I did the first half two years ago during a camping trip.... and will tell you that 25 miles road biking is much easier than 25 miles mountain biking. But don't worry, I have plenty of reasons why I almost didn't finish my goal.
So why did I finish and what does that have to do with YOUR marketing? I finished because it was the absolute right thing to do. For me. For my life. To prove to myself that I have drive, passion and won't quit even when it isn't easy.
Look back at the goals you have set. Both personally and professionally. Are you working towards those goals even when you don't feel like it? Even if it means you might hurl up a lung? If your current production isn't meeting your goals then it's time to do more. Take more action and work harder.
And being able to say that you did everything you could to accomplish your goal is a great feeling.
What was the last thing you sent to your database? (feel free to also share how successful you thought it was)
The blogs I enjoy reading the most are those that seem to have a lot of comments from readers. I often gain as much insight from the comments as I do the original post. We can all benefit by sharing ideas and thoughts so please share your answer to this week's question.
If you haven't commented before, it's EASY to do! Simply click on the comment tab below the post and type in your thoughts. Your email address is NEVER shared and will always be confidential.
Feel free to suggest questions for future posts as well. Thanks for your help with this project and check back often to see what others have shared!
I am always looking for ways to increase my productivity and help me reach my goals so I was pleased when a friend recently shared this article... How To Predict Your Future by Anthony Fernando.
"More than anything else, it is the regular weekly activities that you pursue during these blocks of time that will determine the nature of your future."
The article also includes a free download of his Habitual Activity Chart.
"By creating your own Habitual Activity Cart and learning to analyze your weekly habits, you too can quickly gain a powerful insight into what the future has in store for you.
The most exciting part about this technique is that if you don’t like the future that your current habits are leading you towards, all you have to do is change your habits.
Remember, your weekly habits crystallize to form your character, and ultimately it is your character that determines your future in life."
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We've all done it... had a fleeting thought. A great idea. Something you don't want to forget. But then didn't take the time to capture it and it becomes the great idea that never was. This week I want you to create a place for these ideas as well as other tidbits of information such as those random underwriting guidelines you know you need to remember, but probably won't. This is also the place to jot down reminders and tasks you want to complete.
Here are a few tips to get you started:
It may take awhile to get in the habit of gathering your ideas and capturing information this way, but can be well worth the effort. Here's how one blogger utilizes an idea notebook.
Thanks for following my weekly coaching tasks, hopefully you are getting more organized and focused on your marketing... if you are just jumping in, see all Monday's Coach posts here.
The blogs I enjoy reading the most are those that seem to have a lot of comments from readers. I often gain as much insight from the comments as I do the original post. We can all benefit by sharing ideas and thoughts so I decided to create this new series.
Once a week, I'll be asking a question for you to chime in with your opinion or suggestions. If you haven't commented before, it's EASY to do! Simply click on the comment tab below the post and type in your thoughts. Your email address is NEVER shared and will always be confidential.
Feel free to suggest questions for future posts as well.
What is your most successful Realtor marketing tool?
Thanks for your help with this new project and check back often to see what others have shared!
I've been around this industry long enough (19 years!) to have seen several of these busy markets. Its a great thing to have loans in process and I know they take a lot of your time to get through the system. But there are a few pitfalls you need to be cautious of. Realtors remember when things are busy and they are ignored by lenders.
You may not intentionally be pulling back on your marketing, but simply not have enough time to do what you want to stay visible to your referral partners. This could be disastrous to your future business.
Here are a few tips to keep your marketing on track even if you are short on time:
Most importantly, remember that things will slow down. You won't always have to work these crazy hours, but if you want to have business during the slow times, then you MUST take the time to strengthen relationships even when you feel like you don't have the time.
I recently had the opportunity to go to a New Realtor Orientation at our local Board of Realtors with a loan officer buddy of mine... BTW, this is an activity I recommend to all loan officers. It's gives you a chance to get to know those just starting out in the business and to network with seasoned Realtors assisting with the orientation.
After the loan officer did her (spectacular) spiel about the importance of having a strong relationship with a knowledgeable lender, there was a panel of three "old-timers" to give the new Realtors a bit of advice. Once of the Realtors shared that the secret to her success in the beginning of her career was For Sale By Owner properties.
At this point,I mentioned Landvoice. Surprisingly, none of the new or old Realtors had heard of this service. When I got back to my office, I checked the map on their site to make sure that Lubbock was one of the area serviced by Landvoice. It is!
So... what is the next step?
Share the information!! And that is my recommendation for all of you. Send out a quick email to your Realtors and let them know of this great FSBO service. You assistance will be greatly appreciated! This is a simple example of always looking for opportunities to be a resouce and of value to your referral partners.
Every 10 weeks I'm going to recommend that you review and revise where you are at with your goals. Not only do things change, but by reviewing where you want to be you will be able to re-focus yourself to the goals you have set.
1. Review your Sales plan 2010.
2. Update your Realtor Marketing Form and take off any non-producing Realtors and then add any new ones you may have discovered.
Take some time to analyze your current marketing. Are you getting the results you want from the effort you are putting in? If not, then you probably need to start a new marketing strategy, pick up the pace with current ones and focus your attention on those things that will provide new leads.
If you have missed any of the coaching tasks, take time during this week to bring yourself up to speed with everything that has been assigned.
Thanks for following my weekly coaching tasks, you should be more organized and focused on your marketing... if you are just jumping in, see all Monday's Coach posts here.
I'm not quite sure how to relate Mother's Day to marketing (that may come as a disappointment to some of you) but I do know that I wouldn't be the person I am today without the wonderful influence of my mother .
For this, I say Thank You.
Love you Mom.
The first Friday of each month, I share "the best of" from the past 3 years of my blog for those that are new readers or anyone that wants a look back at some great ideas.
One Year Ago:
Two Years Ago:
Three Years Ago:
Imagine my surprise last week when I received a friendly email from Bliss Green. She is a loan officer with Myers Park Mortgage in North Carolina and after finding my website was very surprised that we have the same name. Maybe you know multiple people with the name of Bliss, but I have only met one!
I asked Bliss (feels weird even typing that!) if she would share some of her secrets to successful originating. I figure you all hear my rantings often enough :)
What do you feel are the top three reasons you are able to be successful?
What advice would you give a loan officer that is trying to get their production up?
Try something New. If what you are doing is not yielding your desired result, copy someone that has what you want. Find a Loan Officer who has the income & relationships you desire. Ask them what they do, and how they do it. Success in business is not luck, it is a choice of calculated disciplines that result in a positive monetary outcome. The choice is always up to you to decide. Choose success. Be willing to do what you would never do, and you’ll open up the doors to receive what you’ve never had.
Any other thoughts or suggestions?
Whatever you do, get peace of mind about it! This is what produces feelings of contentment & happiness. No one is on cloud 9 all the time, but you also can not afford to allow life and your emotions to be your compass. Desperation, Confusion, Aggression, Depression, and Frustration are very much so communicated non verbally and in our energy levels. Before you start your business day, or meet with clients, always raise your energy levels. If you do not, you will do yourself and your business a more harm than good.
What a fun thing that we are in the same industry and have the same work ethics and marketing philosophy. I guess it was just like my rantings... but I think that is a good thing.
As you may know, HUD has extended the tax credit for members of the military and certain federal employees. This is a great piece of information to pass along to your Realtors and other referral partners. You may even want to send it out to your database and in case they know of anyone that fits this category.
Here is a link to the IRS website with all of the details on the Homebuyer Tax Credit Extension.
You may also want to take a look at what the National Association of Homebuilders has put together.
Even if you don't think this applies to anyone in your area, consistently offering this type of information will build your reputation as an expert. This marketing strategy costs you NOTHING and takes VERY LITTLE time. A perfect combination!