I mentioned here that I loved the idea of sending birthday reminders to Realtors and I've been wanting to implement this for quite some time, but I haven't even been sending birthday cards out myself so I had quite a bit of work to do to get this rolling.
"Great intentions are like crying babies - they should be carried out."
So I finally kicked myself in the fanny and got a system put into place. Luckily I have an assistant that can help me once I decided how I wanted to manage the system etc. I created a spreadsheet in Google Docs with a page for each month. I've gone back to January 2012 and we input all the birthdates along with their agent name (if it was a purchase) so I can easily send a reminder to the agent.
I picked up a variety of birthday cards from the dollar store to have on hand. I write a personal note and send a coupon for two free cupcakes.
Here's a sample email that I send out to the Realtor. Of course I try to make it personal and add other things as I am inspired.
Subject: It’s (name) birthday this week!
Hi (Realtor name),
I just wanted to let you know that (name) is having a birthday this (day of week) and I thought you might like to reach out with a birthday wish.
I hope everything is going well with your business. Please let me know if there is anything I can do to help you or your clients. Have a great day!
Over the years, I have been approached by many companies looking for an affiliate relationship. I truly haven't seen the value in these for my origination business or for the loan officers I train and coach. A few months ago, Homes for Heroes kept popping up on my radar. A couple of my coaching clients were becoming affiliates and a new member of my mastermind group was having great success with this program.
I decided it was time to investigate. Homes for Heroes is a non-profit designed to give back to our hometown heroes. This includes police, fire, current and ex-military, medical professionals and teachers. Rather than go into all the details here, I recommend you check out their website: http://www.homesforheroes.com/
I became an affiliate earlier this month and have already received two leads. One of those clients just got an accepted offer on a $350,000 home. I am also connecting with two Realtor affiliates that I have been trying to get business from, but until now have not had any success. I feel this is just the tip of a very big iceberg and plan to spend time developing my relationships with local police, fire and national guard. Once I have done this, I will move on to teachers and then medical professionals.
Homes for Heroes only allows one lender and one Realtor per zip code and I know that many areas are already reserved. Check it out and see what is available in your area.
p.s. This is not a paid-advertisement. I simply believe in the system.
Once a month I take refreshments to a CE class held at our local Board of Realtor office. Attendance ranges from 8-20 and I am given 5-10 minutes to speak in front of the group. I usually go over rates and any major changes and then open it up for questions. This has been very well received.
I take my water bottles, fruit and pastries so the cost is very minimal. There has always been at least one Realtor that already knows me and gives a (completely unsolicited) testimonial. I am given the roster of those that attend and follow up by email and facebook.
Contact your local board office to see if this is an option in your area.
So... if you have absolutely no interest in increasing your production or if you truly aren't worried about the market slowing down then read no further. Go back to your full pipeline with confidence that you just saved a few minutes.
On the other hand, if you DO want to increase production and you ARE worried about refi's drying up then read on. I am going to share a little insight into my production. Please, please don't take this as boasting, I am only sharing these statistics with you to show that what I have been doing for the past 20 months truly works. And it can work for you.
April Closings: 12 Purchases - 6 (all Realtor referrals) Refinances - 6 (5 are Realtor referrals and one is a past client - and remember that my past client list is over 8 years old)
May Pipeline: 6 Purchases - 5 (all Realtor referrals) Refinance - 1 (SOI referral) I also have a number of other files that are close to application
To put things further into perspective, I only have 25 hours a week to originate mortgages. The rest of the time, I am busy with my coaching and training business. When I moved back to Utah after 7 years away, I knew I would have to work very hard to build my business. This is what I share in Go Ahead... Steal my Stuff. You also get a personal coaching session to help you get on track to increasing your production.
do you overcome rate shoppers? Those that you have talked with and think
you have an application, only to find out they are also talking to another
lender that has a better rate. How can I make sure to keep that deal?
Here's my answer:
That is a GREAT question with no easy
answer. I am pretty up front with
borrowers that I know are shopping. I
ask them to get me a copy of the other lenders estimate so I can see if I can beat it. Warning though – there will always be someone
willing to go lower than you so you have to not let it get you down if you lose
a few this way. I always tell the client
that they are welcome to call me even after they start with the other
lender. I want to keep that door open in
case they are unhappy with the other lender.
I have had people close with the low cost lender, but then do future
business with me because of that relationship I established.
Here's an email I sent out this morning to all my Realtors....
Subject: What do you think of this strategy?
I saw this little video clip over at the National Real Estate Post... be sure and read the comments as well. I can definitely see where this might be a problem with fair housing, but I also know there are many, many buyers that are trying to get an accepted offer and keep missing out.
As many of you know, one strategy that I offer is a quick phone call to the listing agent when you present your buyers offer. Everyone has an approval letter, so just this won't set your buyers apart from other offers. When I call the listing agent, I emphasize that these buyers are truly approved and working with a reputable lender that will make sure the transactions gets to closing on time.
Let me know what you think of the video and please pass along my name to your next buyer. Thanks much and have a great day!!
Bliss's book is packed with so many great ideas--that if you only choose
one--and consistently work it--you'll be successful. I really love that Bliss
"walks her talk" and shares it all with you. Karen Deis,
Whether you are a
novice or an experienced originator, and regardless of the size of your
pipeline, Bliss will provide you with ideas and tips to streamline your workflow
while growing your pipeline. Her humor and honesty nicely frame the pearls of
wisdom she generously offers from her many years of experience as both an
originator and coach. Matthew Howell
Bliss - you are AMAZING! What great ideas, strategies, and step by step instructions on how to be successful in Originating loans. My goal is to increase the market share for my branch so that we command the highest market share of any branch in our company. The best way I can achieve this is to have each of my LO’s increase their business. By requiring them to implement your tools of success, I can see my goal being met by the end of this year! This also gives me the tools, as a manager, to track how the LO’s are progressing in following your systems for success. Thank you very much for sharing. –Rhonda Johnson, AlaskaUSA Mortgage
I have been coaching with Bliss for a few years now. Our calls and tasks that we create keep me accountable and has done wonders for my business. I have more than doubled my business and income and a ton of that is thanks to her help! This book is filled with her awesome tips to help take your business to the next level. It’s a MUST READ. – Kelly Waugh, Fairway Independent Mortgage
I just wanted to tell you how much I enjoy your website and how I get lost in all the fun blogging and interesting articles. When people do a good job, as you do, I think it’s important to tell them. Thanks for encouraging me in these trying times.
Charles G. HauserHauser Financial
Your marketing blog, titled Great Example, featuring Sandra Scott was great. I found it very educational and inspirational, in fact so inspirational that I printed it out and hung it by my computer so I can read it every morning. Thank You very much for all your hard work and time you put into helping us become better Mortgage Planners.