The Zenith Advisors

Realtors Be(a)ware!

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Fri, 20 Nov 2009 10:10:31 -0600

I just had a client call and say he had an accepted offer on a new home, and renting his old one out. I knew the guidelines changed a few months ago for FHA, increasing the reserve requirements in that situation. I covered that with him, and we still had a green light.

Upon closer inspection of the new guidelines, it turns out that without 25% of DOCUMENTED equity in the house that they are vacating, lenders will not consider any income from their existing home. That means the buyer had to qualify with both homes counted against him.

When I called my wholesalers to confirm, they agreed that those were the current guidelines, and told me that the process of "documenting" the equity is a HUGE pain in the @ss. Should be as simple as an appraisal of the old...but we all know what should be and what is don't always align well.

So, a simple caveat here. Buyers renting current to buy a new one may not be as simple as a downpayment and good credit on the new purchase.

Do you see what I see?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Tue, 10 Nov 2009 20:45:27 -0600

As I said in my previous post "Are you a Giver?", most of us live an die by referral. We all love to get them, and say we give them at every chance, but is that actually true?

Here's a dialog that I have with as many people as I can... "Hey Sam, on a scale of one to ten, please rate your CPA/Financial Planner/Attorney/etc. If the answer is less than a 7, I refer them to one of the professionals that I have worked with.

If the answer is 8 or higher, I ask to get contact information for that person. Again, the dialog goes like this: "Hey George, it's great that your CPA is a 9. In fact, I'm always interested in meeting the best people in their profession, and I'd love to be able to refer my other clients. Do you mind if I call them and use your name as a reference?"

The CPA will be happy to hear from me: "Hi, my name is Bob, and I'd like to refer you clients....is that OK?" They will appreciate their client endorsing them to me, and I have added a quality referral partner to my network.

When is this appropriate? Every day! Need a reason to call your clients? "Hey Paul, I was looking for a great plumber to refer to my clients. Do you happen to know one who is excellent?"

If the answer is no, tell them you'll call them back when you find one, just so they know.

If the answer is yes, you've made your client feel good by helping you, gained a potential referral partner, and most importantly, found someone who can serve your client at a high level.

Take this everyday, work it, and let me know how you and your business grow.

Are YOU a Giver?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Mon, 09 Nov 2009 21:02:31 -0600

In the real estate and lending business, we all work for referrals. My business over the past 12 years has been built entirely by referral. I appreciate them, work hard for them, and like to think that I deserve them.

I used to get this all the time, let me know if it sounds familiar: "Hey Bob, good news! I was talking to a friend of mine and they said they really want to refinance/buy a new home. I told them you were the best, and gave them your card." To be truthful, the people call no more than 50% of the time. What opportunities are lost? How much money? How many clients end up working with less qualified, or less scrupulous mortgage advisors?

I have made it a point to educate my best referral sources. People with the best hearts, who want the best for their friends and family members. Now, I ask them to "sing my praises" and ask permission for me to call them. If I can call them, I can ensure at least one contact between us. It's infinitely more effective than me waiting and hoping that they call me.

So here's my question to you...do you refer people the right way? Do you get permission to give their contact info to the people who can serve them? Here's what I say:

"Say George, do you have an excellent realtor that you are working with?" Ususally, the answer is "Well, I get listings emailed to me by someone (they usually can't remember the name BTW).

I say "Listen, Lisa is one of the best realtors I've ever come across. With your permission, I'll have her call you within the next 24 hours. What is the best number for them to reach you?"

Can you see the difference in value between this and "Here's Lisa's card, give her a call."? It's night and day, and the only way to refer someone you really WANT to get the business. So, are you giving referrals the right way? Shouldn't you be?

Are you in a committed relationship?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Tue, 03 Nov 2009 10:01:54 -0600

I think everyone can agree that the real estate landscape looks different today than it did two years ago.

In 2007 there were an estimated 14,000 mortgage professionals practicing in the state of Massachusetts. In 2008, the number of licensees was estimated around 6500. Today, the number stands under 2000. While I recognize that some of these people may have gone to banks, which don't require licenses be held, there has still been a massive exodus from the business.

This question is primarily directed towards realtors. Are you loyal to your lenders? Do you work to switch every borrower to your mortgage professional? If not, you're missing a huge opportunity. I worked diligently to make my realtors look better, and do more business in less time. Any lender who's been able to weather the storm most likely has similar values.

The most successful and lasting relationships are ones which are mutually beneficial. While that statement may seem obvious, many people seem to miss that point. Don't let your lender lose deals to Internet mortgage companies. There's a strong likelihood that you'll lose the deal to because the company doesn't know the local market, the newest guidelines or the newly implemented state laws.

Stand by your lender, and they'll stand by you.

Are you being seen?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Tue, 03 Nov 2009 09:43:09 -0600

It's a funny thing. I've been in the mortgage business for 12 years now. When I started, I visited realtors offices four days a week. I spent time with them, asked questions, and offered my services. I built a successful business that was consistent and predictable.

As the years pass, I lose sight of the very actions that created my business in the first place. I stop visiting my realtors, stop calling past clients, and then wonder why my business is not as consistent as it used to be.

Then coincidently, as happened last week, I go out and see some people. All of a sudden, I have new buyer prospects, new appointments with realtors, and renewed enthusiasm.

My point is this; do people still know you're in the business? Do people know you're serious about what you do? The more you can gently and casually remind people what business you're in, the better you'll be. I make it a point to have updated mortgage information in my e-mail signatures, which consistently creates opportunities for me.

I met a mortgage professional with 15 years experience recently. I wanted to reach out to him a week later, could not find his contact information online anywhere. He simply does not exist on the Internet. When I finally did reach him sometime later, I was dismayed to hear that he has left the business. Apparently, being invisible on the Internet does have an impact on people's business.

Make sure people can find you. Make sure they know what you do. It can make all the difference.

Recruiting

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Tue, 28 Jul 2009 16:00:30 -0500

I know this is a common theme in all online forums, but here goes. I am looking to hire new loan officers and salespeople. We have a great infrastructure, more than able to support our staff, but have trouble finding the right people. I understand that the answer is referrals, so here we go...do you know a great salesperson in MA looking for a change? Would you object if someone in your network called you or wrote you asking for a referral to a salesperson? Thanks!

A sense of belonging...

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Fri, 09 Nov 2007 13:59:26 -0600

I made a new friend today through active rain...Jackie Peraza. We had a great meeting, and hopefully will be able to enrich each others businesses. Jackie wrote a post Won't you be my neighbor? that was thanking the Active Rain community for their warmth and hospitality. It got me to thinking...

We, as a society, lack a sense of community. This may be one reason that we have such rabid loyalties to our sports team. I am a season ticket holder for the Red Sox. There is no scarier place to be for a Yankees fan then Fenway on game night. We are the Hatfields and McCoys. We dislike the Yankees players, and the Yankees fans. They dislike us. Why is that? I think it is because it is a chance to belong to a family. It's a chance to be part a a group with common interests. We need that as humans, and we have lost this in our neighborhoods in large part.

I grew up in CT. There were 58 houses in the neighborhood, and I knew the families in every one of those houses. We still refer to the homes by the names of owners who haven't lived there in 20 years. That is because we no longer know who lives there. It's sad.

I have lived in the same house with my wife and 3 kids for 6 years now. I couldn't tell you the name of the people who live DIRECTLY across the street from us. That was until 2.5 months ago when my wife passed away. Then, people I had never met reached out to me, to offer food support, even money. It was shocking. Having been where I have in the past few months, I write this to encourage each and every person who reads this...reach out to someone you don't know well yet.

Try to foster a sense of "old fashioned" community with people around you. Say hello when you get home at night instead of pulling into the garage and closing the door behind you. Be hospitable. Be kind. You never know how you might impact someone with your thought.

Arrange a block party, or a cocktail party at your home. It won't cost much, and it might even boost your business. I know it will boost your sense of belonging and connection to others.

Are you being seen NOW?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Tue, 30 Oct 2007 10:41:23 -0500

Are you being seen?

John Keil wrote a blog awhile ago (Right place right time) about being in a realtors office, and getting a couple of loans out of it. That got me to thinking. Initially, my new business was built exactly that way. I visited realtors offices, trying to build and develop relationships with them to get some leads. While tedious at times, it worked. I built a business that has grown into a very solid income stream from realtors and past clients. Over the course of 9 years however, I have gotten lax with that aspect of my lead generation.

When I realize that, I get my butt back on the street and go see my realtors and past clients. Invariably, I get business out of it every time. It's not only about meeting new realtors, but rather about reminding my realtor friends and referral partners that I'm still alive and in business. I say that only partially tongue in cheek.

No one stays up at night wondering how to send you business. If you aren't there, consistently asking for it, you're not likely to get it. I've seen it with great friends, family, etc. Out of sight, out of mind exists even in the strongest of relationships. Go see your people!

I live this on the other side as well. As the owner of my office, all the wholesalers and AE's want to get my business. If they try to schedule meetings, I blow them off or stall. I'm a pretty busy guy. However, if they are consistently stopping in to see if they can help with any loans, they almost always leave with a deal. I may just not think of them for that particular scenario, or loan.

An AE came by last week. In passing he mentioned his strong ALT-A program. He was right, and will get 4-5 more loans from me every month now. I didn't know they did any ALT-A business, let alone having a great program spread. Was it his fault or mine? If he didn't tell me...it was his, and it cost him! What are you missing out on?

Go see your people. Lenders, go see realtors and closing attoneys. Realtors, go see your lenders! They have business to give...are you asking? Everone should go see their past clients once in a while. Face to face...it's the best way to sell!

Lenders often look the wrong way

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sun, 25 Feb 2007 21:23:39 -0600

Yes, I am a lender. In fact I have been for almost 9 years now. I know lots of other lenders who bitch and moan about realtors. Admittedly, from time to time, I'm among them. However, purchase business is without question, the best way to add new relationships into the fold.

Not only do we meet a new, paying client, but also a professional on the other side with whom we may be able to forge a mutually profitable relationship. A decent realtor should be able to send a deal a month to his or her lender. A great realtor will be able to send much more.

If we as lenders have 10 decent realtors who all send a deal a month, we can make a very nice 6 figure income. Also, with 10 good realtors, we should have enough self-generated to send at least one referral back to each of our supporting realtors.

It's a simple dynamic that we all need to remember. We work better together than we can apart.

They Come to me Pre-approved...

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sun, 25 Feb 2007 19:59:50 -0600

This is related to my earlier post Are you being seen? Mark Brinitzer asked about realtors having less opportunity to refer business out, and that promted this post.

I have heard this too many times from too many realtors. I know that since the internet has changed the world, the power in real estate has shifted to the buyer from the realtor. Consumers have more power and knowledge than ever before.

However, in my opinion, realtors not "being able" to refer buyers to us lenders is BS! It seems to me that there are a couple of simple explanations for this.

1) They may not recognize the opportunities as they present themselves. This is our (lenders) fault. We need to educate realtors on how to refer us. They need to be trained (sorry realtors).

2) They are afraid of "rocking the boat". Many realtors are so happy to have a live buyer, that they don't want to scare him/her off by offering an opinion about the lender.

3) They don't believe that we are different than the internet lender that has done the preapproval in the first place. This too is our fault. If we can't communicate our value to a realtor, how can we expect them to know what it is. Know what makes you different, and tell everyone.

4) They just don't "get" the referral dynamic. They don't realize, or haven't experienced a good lender who can and does refer business back to them so they get paid. A lender worth working with should have at least 6-10 deals a year that he/she can refer out. If they don't understand, teach them!

I have plenty of realtors who refer buyers to me. Both people who have no lender affiliation, and those who are already preapproved, but my realtor convinces them to call me for "a second opinion". You can have these relationships also, but it takes consistent work on our part, and some benefit (i.e. genuinely better service) to the realtor. Make them look better and they'll send you more work.

It's amazing how this happens. You make a realtor look better, and miraculaously enough, they "see/find" more opportunities to send clients. Try it, you'll see.

Are you being seen?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sun, 25 Feb 2007 15:34:19 -0600

John Keil wrote a blog (Right place right time) about being in a realtors office, and getting a couple of loans out of it. That got me to thinking. Initially, my new business was built exactly that way. I visited realtors offices, trying to build and develop relationships with them to get some leads. While tedious at times, it worked. I built a business that has grown into a very solid income stream from realtors and past clients. Over the course of 9 years however, I have gotten lax with that aspect of my lead generation.

What forms of Technology are best?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Fri, 26 Jan 2007 21:41:43 -0600

Aside from the standard PDA's and Crackberries, what tools are you using to provide better service to your clients? I have been using GoldMine and ManageContacts, to stay in touch, Mortgage Coach to improve my presentations, and Mortgage Market Guide to stay better informed and educated.

What presentation programs are being used out there? Analysis software? Share your "best practices" with the rest of us si we can all be better.

Your best source for new ideas...

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sun, 21 Jan 2007 15:12:34 -0600

I have written several blogs now about developing business, Win the Day, being the most recent of them. I spend a fair amount of time and money trying to build out my business and come up with new ideas to make things better or stronger.

I regularly seek associations (Look to a Higher Power) with people who are more successful than I, in my field or others. They will have ideas that I can implement, or adapt to my business. I also consume a steady diet of books. I get at least one good idea or viewpoint from virtually every book I read.

My question for you is this...where are you getting your new ideas on ways to develop your systems or business? Is it from books? Mentors? Coaches? Website?

Let's share what's working so we can all be better than we are today.

Some of my favorite books:

Good to Great by Jim Collins
Play to Win by Wilson and Wilson
The E-Myth Revsited by Michael Gerber
The Power of Full Engagement by Tony Schwartz

Win the Day!

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sat, 20 Jan 2007 22:09:34 -0600

This is a page out of Brian Buffini's coaching, but relevent to all, and important to remember as we begin the new year.

It's easy to get carried away with the urgency of our business models. Clients call, expecting or demanding an immediate returned call. A deal seems to be on life support, so we give it CPR to the end, a buyer who needs everything right now, and not tomorrow...you get the picture.

Here's what we need to make sure we do...spend time every day working ON our business, not just in our business. The ideal; 2 hours a day of proactive lead generation. Personal notes, calls to past clients and referral partners, visits to past clients or referral partners. Business to business lunches, etc.

Now I understand that everyone has a different business model, but ultimately, we all need to continue to prospect for new clients. I don't care how much business you do, or how long you have been in it. You need to continue to prospect.

It is easy to forget the value of a single day. We get caught up in putting out fires, and haven't worked each day to make our business stronger. Every day, we need to ensure we put at least one foot forward in our business. Each and every day can have a HUGE additive effect. Win today, most days, and you will win the week, month, and year. Let's all have our best year ever in 2007!

Foreclosures as a symptom...

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sun, 07 Jan 2007 23:05:20 -0600

This particular post started as a followup to a very active and thought provoking post by Caron Mosey entitled Stand up and be counted. Thanks for the inspiration Caron.

One of the comments on the topic spoke about forclosures being a byproduct of the cyclical nature of the bond market. While there may be some merit to this argument, I happen to believe it is a symptom of a much more serious, widespread social ill.

As I have mentioned in many of my posts, I am a student of Brian Buffini, and consequently I share many views with him. One of the expressions he has used repeatedly is this.

People buy things they don't need, with money they don't have, to impress people they don't know.

I think this is incredibly accurate. The average size of new homes being built is 2.5x the size of homes built in the '50's while the average family is actually smaller. Why do we all need such symbols?

Add to that the fact that the national savings rate is now officially a negative number! This hasn't happened since the great depression in the lates 20's and 30's. What are we doing? Why do we buy plasma TV's on credit just because they are interest free for 12 months? If you don't have the money now, you likely won't have it then either.

I know I sound like a conservative, maybe bordering on communist, but I am as guilty as anyone. I have a large home, a new luxury car, etc. But I often wonder who I am trying to impress. Why should I try to keep up with the Jones'? They are likely headed down a path of financial ruin...do I really want to keep up with them?

Fiscal responsibilty starts at home, and we must make sure that when people place their trust in us profesionally, we have their long term best interests at heart also.

Contract Processing

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sun, 07 Jan 2007 14:10:11 -0600

Has anyone out there used contract processing? There are many companies that offer this service for a nominal (~$400) fee, but I'm not sure about the quality of the work.

I have an excellent in-house processor now, but she'd be better utilized in a sales/LO role. I can't let her originate business until I have someone who can adequately fill her shoes when she transitions.

So the questions are these:

Do they follow through in a timely fashion?

Are they courteous on the phone?

Are they as competent as the parent company advertising would lead us to believe?

Any thoughts would be appreciated.

How should I find new Loan Officers?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sat, 06 Jan 2007 23:42:06 -0600

As the owner of my office, I have an obligation to myself and my current employees to grow the business, and serve each client better. The dilemma is this: I need to attract new talent to my office.

I have created an environment of support and capacity for high production, but it seems to me that the only time good LO's change companies is when they are mad at their current company for a real or perceived slight.

How can I spread the word, and confidene I have that LO's could produce and earn more inside my organization? How have you other owners grown your businesses?

Is Real Estate a 24/7 job?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sat, 06 Jan 2007 23:22:15 -0600

I have been a lender for 8.5 years now. In that time, my business model and outlook on our industry has shifted quite a bit. I had been told, and told my clients, that being available at a moments notice was a key to "good service", and I was willing to do that.

I have had a change of heart though, brought about largely by the teaching and coaching of Buffini and Company.

It seems to me that if I am great at what I do, people should be willing to wait a few hours, or even until the next business day, to hear from me. I have not had any noticable loss of business from this perspective, but I have had a tremendous increase in my quality of life.

If I were to call a doctor, and he offered to come to meet me on a Sunday night at 7pm, or Monday anytime, day or night, I would question his value. People want what they can't have. If we conduct ourselves professionally, there's no reason we shouldn't have the same opportunity to command respect.

Being available all the time burns us out, wears us down, and prevents us for giving our clients our "all" because we never have scheduled time to recharge our personal batteries. I think this is also one of the reasons that real estate has one of the highest divorce rates of any profession.

Real Estate is not my life, it's what I do to support my life outside of work.

Good Afternoon!

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Sat, 06 Jan 2007 22:35:01 -0600

Hi all,

I wanted to take a minute to introduce myself to all of you in the New England Professionals group. I have been part of AR for about 4 months now, but only recently spent any significant time exploring the depth of the community.

I have been in lending for 8.5 years now. About 18 months ago, I opened my own office, which is a branch of a nationally (31 states) licensed company. I am a long time client of Buffini and Company, which is a business coaching company that preaches and teaches doing business by referral.

I have built a team that work with me, and we have developed some great customer service models that seem to be more involved than most other lenders. I am always looking to develop new relationships with lenders and realtors in other areas to brainstorm with and/or refer business to.

If I can help any of you, please let me know, otherwise, I'll plan to get to know you through our posts. Happy New Year!

Bob

The Unheralded Value of Referral Partners

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Thu, 04 Jan 2007 20:36:43 -0600

As I spend more and more time looking for new business sources, I realize I have been neglecting to capitalize on one that is close, able, and willing to create opportunities. My current referral partners.

I have now gotten in the habit of consistently asking them not only for referrals to borrowers, but also to their friends and co-workers who might be a good person to know. My definition of someone good to know:

1) Someone influential or a frequent advisor among their friends.

2) Someone who is excellent at what they do to whom I can comfortably refer business to, thus serving my clients as their advisor.

3) Someone in a related or tangential line of business. For example, realtors and lenders should all have a good relationship with a divorce attorney.

Even though real estate has one of the highest rates of divorce of all professions, that isn't why. In almost every divorce, there are associated real estate transactions. One person refi's to buy out the other, or they sell, and one or both buy a new home. There are up to 3 potential transactions in every divorce. Yet few realtors or lenders pursue that. They do open houses, and complain that no one shows up, or they come in preapproved already.

Who can the people that you know put you in touch with? You might surprised by the answer.

Only Clubnetters??

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Wed, 03 Jan 2007 23:16:41 -0600

Fran,

Are we the only clubnet members in here? I actually just invited a couple of members to active rain. I'll refer them to this blog too. See you in FL!

Limited Project Review

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Wed, 03 Jan 2007 10:25:55 -0600

Here in MA, there has been a glut of multi-family to condo conversions, as well as a large number of condos in general. For the first few years of my career, condo docs presented a cause for concern, as did the owner occupancy and investor concentration.

In came "Lmited Project Review". A wonderful DU enhancement which basically says we don't care about O/O ratios, investor concentration or any of that, provided a few conditions are met. All we need is a condo questionaire, to answer those "few conditions".

Here's the question/dilemma. My investors are now allowing ME, as the broker/lender to warrant the condo and fill out the questionaire. While I don't believe in mis-representing the truth, it seems like a huge opportunity for mortgage fraud. Why wouldn't they mandate that a condo trustee fill it out?

Are the people who lie about the questionaire really to be held accountable with fines and/or sentencing? Seems like an easy opportunity to commit mortgage fraud, and the lender/investors are giving us more opportunties, not fewer.

What are your thoughts and experiences out there?

Resolutions are Bull@#*t

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Tue, 02 Jan 2007 17:29:34 -0600

I don't believe in New Years resolutions. I think we all owe it to ourselves to "Refine" what we are doing on a regular basis. I am a proponent of taking stock of where we are and making sure that we are pointed in the right direction.

There are 2 problems with that theory.

1) Many people have no idea where they aspire to go in any real, concrete terms. "I want to be successful" is NOT an answer. It is wishy-washy and meaningless. Joe Niego says " Most people aim for nothing and hit it with amazing accuracy"

2) We can't see our own path. It is always easy to see faults in the actions of others, while we never put a foot wrong ourselves! My advice, Get A Coach! I have worked with Buffini and Company for years, and have been blown away with the progress I have been able to make, both personally and professionally. Thet certainly aren't the only game in town, and many coaching companies are excellent at what they do.

Just remember, your best decisions got you where you are today. If it's not where you want to be, maybe you could use some unbiased advice.

I have NEVER accomplished anything great by myself. My biggest successes are my children, and I obviously had help there (thanks Beth). My business...prompted by the encouragement of others, continually supported by the support of friends and family...you get the idea.

What steps are you willing to take make tomorrow better for you than today was? Most people I encounter have no specific plan to try something different to acheive an ever greater level of success. However, the MOST successful people I know are constantly refining and honing their gifts, and always in a quest to learn more than they knew today.

I know that I owe it to those around me to be the best person, the best lender, the best father, friend, etc. I'm not satisfied to only promise to be that at the beginning of each calendar year. Take a hard look at yourself and then take massive actions to fill the holes you see.

Successful People Do What Other People WON'T!

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Fri, 15 Dec 2006 20:35:26 -0600

A couple of people have now asked some of the "secrets" I learned from talking to the highest of producers. I'll offer a couple of more points. Please realize the people I have met with, and consistently ask for advice are realtors doing 75+ transactions per year, and lenders who do 200+ per year. THey may not have all the answers, but they are doing something right.

1) They don't pay for leads, and aren't bothered by trigger leads, or any of that other stuff. The majority of the business comes either as repeat or referral business. They stay in CONSTANT communication with their "inactive" clients. Offering their service, advice, professionalism. They have built, and consistently continue to develop relationships with their clients. The stronger the relationship, the more profitable the business.

2) They spend a significant amount of time giving to others. How much time do you spend in a week trying to help the people you know make more money or experience greater levels of success? Your business will grow in direct proportion to the effort you expend building the business of others.

I spend an hour or two a week talking to the local car dealer on how he can bring in more customers, or an insurance agent on how to network. In return, when they have an opportunity to refer me business, they go out of their way to do so. I generally believe that my referral partners would lie down in traffic for me. Do you have those types of relationships?

3)They spend more time reading and learning than most. What are you learning? When was the last time you went to a conference on sales skills? Ever read a book on creativity? How about self-esteem? How about a great book about networking? You may be surprised how these varied topics can impact you daily life and business.

You can get great ideas for mortgage related items from Todd Duncan's books and CD's. Jeffrey Gitomer wrote a very easy to read book called "The Little Red Book of Selling". Thomas Stanley wrote 2 great books about millionaires called "The Millionaire Mind" and "The Millionaire Next Door". Jim Collins wrote 2 exceptional books entitled "Good to Great" and "Built to Last". Also, try "Winning" by Jack Welsh.

How good do you want to be? Do you spend more time reading or watching TV? It's not hard to understand, but it does take effort and discipline.

Can you use Technology to develop a relationship?

Bob Prevelige, CMPS (Zenith Mortgage Advisors) — Fri, 15 Dec 2006 15:33:14 -0600

As I'm sure many of you here have done, I have built a business over the past 8+ years that relies entirely on referrals. I can honestly say i have never bought a lead, and wouldn't know what to expect of it if I had.

As such, I am always looking for other ways to deepen and strengthen the relationships that have provided me a stable and comfortable income and business for many years now. I have recently found a tool that I would encourage all of you to look at. It is called ManageContacts.com and it is a web based, mortgage specific, contact manager system.

It automates many client contact points to streamline the process and keep clients and referral partners better informed. I have found that it can make my process more standardized, so that each borrower has the same, high quality expeience.

Please note that I have no ownership or vested interest in ManageContacts.com, nor do I receive any perks from endorsing them. In the spirit of this web community I wanted to share something that I believe can make the process of obtaining a home loan easier for us, and better and less stressful for our clients.

I wish you every success in the coming year. If you'd like details on how I've utilized Manage Contacts or the successes I've had with it, please feel free to call or email me.

Bob