I got this email tip from Rick DeLuca today:

I want you to picture yourself as a prize fighter.  Climb into the ring, warm up and the bell rings!  You jab your opponent, then move to your left/right, then jab again.  However, the most powerful thing you can do is jab and immediately follow-up with a right/left cross.  You don’t need to know anything about boxing to understand the example I’ve drawn for you.  Jab and punch.  Seldom do you see a prize fighter not “follow up” with his first jab/punch.  It’s the “combination” that takes a toll.

So, what has this got to do with what we do for a living?  I see too many agents do one activity and NOT follow up with another.  An example is you do a mailing/email to your database and nothing else.  You have a phone conversation with someone in your database and nothing else.  How about this?  You do a mailing and follow up with a phone call.  You have a phone conversation and follow up with a handwritten note.  You do a listing presentation and follow up with a note and/or phone call.  You add someone to your database and follow up with a note, etc.

The point is this.  When you do any activity, look for an opportunity to FOLLOW UP with your second punch.

Rick is a really nice guy, was met with incredible success in his career, and is quite knowledgeable.  What strikes me is the simplicity of the message.  We all know what to do.  There are no "secrets"  to sell Real Estate.  The question is always the same: "How consistently are you doing what you are supposed to be doing?  Following up is a perfect example of that. 

Realtors of the world.....I need some help.

I had an event last week, where I flew Rick DeLuca in from the west coast, and hosted a seminar for the realtors I work with.

Rick is a well known, well respected speaker, with a very full schedule.  I provided the venue, 2 meals, and the presentation itself, all for one low price of NOTHING.  We hosted a networking mixer after the "main event" so people could get to know one another and potentially pass referrals.

I invited about 125 people by email 3 times over the course of 4 weeks, and about 70 never responded.  I know they got the emails because I tracked delivery.  I even called a few directly and left VM's, with no response.

The presentation was for realtors, by a high producing realtor.  No sales pitches, just a service courtesy of Zenith Mortgage.  Why wouldn't someone at least say "no thanks"?  I was pretty surprised at the lack of social grace in a relatively small industry.  Am I missing something?  Are mortgage professionals offering this all the time, and it becomes background noise? 

Maybe I overestimated the value to "most" realtors.  I would go see a renowned speaker on my own nickel let alone someone elses...wouldn't most professionals want to get better at their craft?

Seriously, I need some feedback please. Did I expect too much?

I reviewed some interesting data this morning.  It shows that MA was one of 10 states with appreciation last year, and one of only 8 in the country that appreciated last quarter. While no one is going to jump for joy on the raw numbers (.38% and .03% respectively), it sure is nice to be moving in the right direction.

Does this mean we can all breathe easily, and start coasting? No, it means we can continue to build excellent careers that will sustain our families and lifestyles for years to come, beginning NOW.

There's no reason to whine, complain, or feel sorry for yourself.  Now's the time to know your numbers, let your clients know that you are a true professional, and get after it.

I tell clients all the time "If you think it's expensive to hire a professional, try hiring an amateur!"  Let's be professionals, and earn our commissions.  Who's with me?

I try to read as many books as I can.  I have 3.5 kids, so free time is pretty scarce.  That generally means that I only read books on sales, attitude, influnce, or other business or personal development topics.  I don't have enough time to read novels and other works of fiction.

I find that reading gives me a fresh perspective on lots of different subjects.  I can then teach people what I've learned, if I think it could change their perspective or positively impact their business. 

Some of my favorite books:

Play to Win! by Wilson and Wilson
Who Moved My Cheese? by Spencer Johnson
The Richest Man in Babylon by George Clason
The Greatest Salesman in the World by Og Mandino
The Fred Factor by Mark Sanborn

I collect recommended reading lists, and always looking for suggestions.  What are some of the best personal growth/business development books you've read? What have you got for me?

I consider myself lucky for many, many reasons.  One such reason was being able to see Zig Ziglar when he was "at the top of his game" a few years back before his accident.                     

I was listening to his series entitled "How to Stay Motivated" in my car over the past few weeks, and I heard, in typical Ziglar fashion:

"If you help enough people get what they want, you can get everything that you want"

I've heard this a thousand times. I'm sure many of us have. The question is, if we believe it, what are we doing about it?  Are you truly trying to embody his from day to day?  I spend a good portion of my day, EVERY day, trying to help my employees and referral partners earn more money and have more balance in their lives.  It makes me feel good to do it, so I win.  They generally reciprocate, and I make more money in less time, so I win.

So if I were to take inventory of my practices, I try to help others rather than myself, and I win both ways?  yes.  I guess I have no choice but to believe 'Ol Zig.  Thanks Mr Ziglar.

I have a client who may not have a merry holiday season after all.  He was scheduled to close on his new house on December 30. The loan process was moving smoothly despite the fact that it's been interrupted with holidays for the past month.

Yesterday, he got a hard dose of reality. He inadvertently missed a $10 minimum payment due on a store credit card in November. It got reported to the credit bureaus, and his score dropped by 60 points! As if that weren't enough, that drop was enough to disqualify him from the mortgage program he was in.

Instead of being concerned about whether he would close in the morning or the afternoon, now he's faced with fighting to get his deposit back, and trying to repair his credit and determine when he can buy another house.

The missed payment was nothing more than oversight. The creditor doesn't care either way. The investors guidelines are very clear and completely unbending. He will not buy his new house on December 30. I only hope we can find some way to salvage this for the spring.

Please make sure you pay every bill, even the smallest ones on time. The impact can be devastating.

Here's a warning tale for all the realtors and lenders AND CONSUMERS out there. 

I had an easy purchase loan all set.  The borrowers made tons of money, perfect credit, big downpayment.  The loan was approved, appraisal signed off, etc.

The day before closing, the investor (who shall remain nameless to protect the not so innocent) pulled a credit inquiry report.  The borrower had just applied to refinance their primary residence.  The payment was DROPPING by $750.  After explaining this to the investor, the answer came back...no deal!  They didn't care the cosumer was saving almost $10,000 /yr in payments.  They insisted that nothing change from the way it was originally sent unless the refi were almost clear to close (3 week delay)

In short, the borrower had to cancel the refinance transaction in order to close on the second home 4 days later than anticipated.  The moral of the story: with Fannie Mae's relatively new Loan Quality Initiative (LQI) there can be virtually NO CHANGES in credit.

For more than a decade, I have been telling customers not to buy furniture, clothes, appliances, until AFTER the closing, just in case things change and the lender finds out.  Now, the lender will find out 100% of the time, and at best it will slow the process, and at worst, kill the deal.

Please know this is happening, on EVERY deal now.  Let's prepare our borrowers properly.

As a mortgage professional since the 1990's, I have seen hundreds of mortgage programs come and go.  It's my job as a service provider, to make sure that my partners have all the tools they need to sell more homes.  There's one around that is routinely overlooked.  USDA, Formerly known as Farmers Home mortgages.

I've met with top producers as well as brand new agents, and few if any understand the power of the program.  In short, in this area, if you earn less than $91,000 as a household, and the property you intend to buy is on the USDA map, you may be eligible.

There is no downpayment required, no PMI, the rates are exceptionally good, and they give you credit for having children towards your max income.  Furthermore, you can even finance costs above the purchase price under some circumstances.

Realtors generally think the property needs to be just west of nowhere, but that's not true.  I can help identify a property address as eligible as soon as a listing is taken, so agents can advertise with "no downpayment required, low rates AND no PMI"

If anyone wants more information about ask your lending partner.  If they don't have experience, call me and I'll educate you about the program.

I've been a lender for 12 years.  I've helped hundreds if not thousands of clients get financing on their homes. I've seen lots of odd and goofy things before.  This one takes the cake.

I have a great client.  A repeat client, many times in fact.  They want to refi, and the numbers make sense.  There is value for them, it's responsible and appropriate.  All systems go...

The loan is approved, they have good stable jobs, great credit, and enough equity to make the loan possible.  They have PMI now, and because the market is what the market is, they'll still have PMI moving forward.  We just need the appraisal done. New HVCC rules, appraisal is a blind draw from the lenders themselves, not my "chosen" company.  I suggest on the application a value for the house.  When the appraisal comes back, it $25,000 higher than I expect!  YAHOO!  Maybe the client can get rid of PMI afterall.

The underwriter comes back and says the appraiser needs to modify and clarify the report.  Ok, done.  Then, the underwriter says the value is too high on the appraisal (There were 8 comps to support value).  The loan is denied.  WHAT??? No "counter offer" of value?  No option to have another HVCC, randomized, chosen by the lender and paid by me appraisal??? Nope.  The new HVCC policy doesnt allow for a second appraisal to support or contest value I am told.  Just S.O.L.

I'm left to explain to a great client that her home is worth too much in the eyes of a non-biased, professionally trained, randomly chosen appraiser.  And the lender won't accept the file.

WOW!  Thank GOD HVCC is here to protect the consumers from unscrupulous mortgage professionals who exert undue influence on the process.