Lunch Time - 08/31/06 07:49 PM
As a life long californian I am very fortunate to have my office located here in the south bay. For some of those who are out of state the south bay is minutes away from the always busy los angeles international airport. Once or twice a week me and my colleauges go … (2 comments)
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What i look for in a realtor....................... - 08/30/06 03:10 PM
As a Senior Loan Ofiicer When i come across people who need realty assistance outside of California i have a few things i look for when considering a Active Rain Realtor:
- experience , computer savy, regions of the state that they service, accuracy of their testimonials, if they have a picture up … (0 comments)
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Networking ................. - 08/30/06 02:56 PM
Here on activerain i have got plenty of messages from people. For the most part these messages are from people trying to sell me a specific product and or service. I believe that AR along with other "networking" websites are meant for real estate professionals to exchange leads or discuss general … (4 comments)
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People cease to amaze me............................ - 08/28/06 10:58 PM
I recently got a note from a fellow loan officer on another networking website. This woman claimed that she had "8 years of financing and banking experience." In short the credentials she displayed were quite impressive. A few minutes ago i got a personal note from her asking me the following … (2 comments)
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Do`s and Do Not`s - 08/21/06 02:32 PM
Retention is key in this business. Here is a brief list of things I have done over the years and have earned repeat business / referrals. The Dont`s section are things i have seen many other loan officers who i have seen come and go actually do. Do`s: Follow Up------ Return Phone … (2 comments)
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How being on time counts.................... - 08/15/06 08:00 PM
A couple of weeks ago i ran into a very nice lady at the car wash. During our conversation she told me that she was looking to refinance her ARM that had already began to adjust. I told her that i did loans and real estate for a living i gave her my card … (3 comments)
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Peers........................ - 08/07/06 12:32 AM
I often get the most stupid and odd emails from people who claim to be loan officers or "brokers" here is one for instance This came from a very member of a very popular website trying to "network" :
7/12/2006
From: "Mortgage Broker"
"Hey how are you, as you know I am a … (2 comments)
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The Rate Buydown................................... - 08/06/06 11:32 PM
In lending there is a tremendous amount of competition. Lenders will often promise clients the world but dont explain anything. Clients that i would come in contact with or would contact me telling me that certain lenders were very aggressive and offering them extremley low rates. These rates that were offered … (1 comments)
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Financing and Real Estate Terminology In Spanish.............. - 08/05/06 09:59 PM
I hope this is helpful for all of you non spanish spaking or spanish speaking professionals out there. I am mexican so the diatlect might slightly differ from other latinos and the terminology they use.
Mortgage = Hipoteca ----- Hipoteca Ajustable = Adjustable Rate Mortgage --- Hipoteca Fija = Fixed Rate … (3 comments)
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Conversation............. - 08/05/06 09:29 PM
As real estate professionals we have alot of lingo and sophisticated terminology. When talking to clients i employ the cliche know as KISS...........Keep it simple stupid. Clients are clients we are the professonals who are supposed to make their transaction as understandable and eduacational as possible. It isnt necessary to wow … (5 comments)
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The Real Estate Industry...................... - 08/05/06 09:08 PM
is not for shy people, real estate is a contact sport. The more people you contact the better chances you have in earning clients business along with starting relationships with realtors or othr real estate professionals. You are around new people everyday. Going to the grocery store,gas station,restaurants,etc provides limitless exposure … (8 comments)
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Thank You........... - 08/04/06 08:44 PM
TO the creators of this awesome website i would like to thank you for this ingenious point system, I have played sports all of my life and i love competition. THis is also a reason why i began my career in real estate due to the challange of beating the competition!!!!!!!!!!!!!!!!!!!!! … (2 comments)
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Creativity - 08/04/06 08:37 PM
As i stated in my previous blog there are may ways to EARN business from realtors and other loan officers. Obviously, i wont give out all of my tricks :-).
One way i often get business from other real estate professionals is by conversing with them and trying to get them know … (4 comments)
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Common Sense In My Words............... - 08/04/06 08:15 PM
I havent been on these networking websites a long time but i do have ideas on how to gain business from this website and from loan officers / realtors in "real life". I will explain this in my next blog. As a loan officer or realtor you cant realistically expect to … (1 comments)
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Courtesy - 08/03/06 07:55 PM
There is a realtor that i work with from time to time and a couple of things that he does towards his clients bother me. For one he misleads clients into beleiving that they are qualfied for a home he knows nothing about financing or DTI issues. He wants me to run … (6 comments)
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The Follow Up.......... - 08/03/06 05:53 PM
One of the keys to longevity being a loan officer or just being in real estate is the FOLLOW UP. If i client doesnt want to do a loan with you at the present time follow up with them a week or so later. Sometimes their prepyament penalties have yet to … (1 comments)
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Leads........... - 08/03/06 05:24 PM
Here at my office we are often provided nationwide leads on a weekly basis. The leads are purchased from lending tree,lowermybills,americas lead source, etc. The clients who fill out the forms range from the worst credit to the best credit. i have been very successful with leads. The clients who are … (1 comments)
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Recommendation................. - 08/01/06 07:48 PM
United Title and Escrow company is the best title company ever. I have worked with them for years. They have this porduct called CLOSING - POINT it is awesome. It directly imports your pre-lim onto your point file. Escrow is quick and easy. They also have this other product you can look at … (1 comments)
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Problems - 08/01/06 07:33 PM
Attention Loan Officers and Real Estate Agents !!!!!!!!!!!!!!!!
What are the most common problems with your clients ?
As for me
- clients understanding of prepaid interest
- clients not keeping their word, procrastinating in sending in their stips but yet stil want a quick close
- clients wanting escrows added at the last minute when … (1 comments)
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Fakes - 08/01/06 07:14 PM
Having been in the business over 6 years and have seen many Loan Officers aka LOs come and go. In the past 6 months or so i have seen more and more mortgage companies and as a result more LOs come to fruition. They all claim to offer the best rates , loan … (2 comments)
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