zenithadvisorscom: Sorry, Your House is Worth TOO Much!
- 02/17/10 10:27 AM
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 … (7 comments)
zenithadvisorscom: Lenders often look the wrong way
- 02/25/07 01:23 PM
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 … (2 comments)
zenithadvisorscom: They Come to me Pre-approved...
- 02/25/07 11:59 AM
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 … (3 comments)
zenithadvisorscom: Are you being seen?
- 02/25/07 07:34 AM
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. When I realize that, I get … (13 comments)
zenithadvisorscom: What forms of Technology are best?
- 01/26/07 01:41 PM
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. … (8 comments)
zenithadvisorscom: Your best source for new ideas...
- 01/21/07 07:12 AM
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 … (3 comments)
zenithadvisorscom: Win the Day!
- 01/20/07 02:09 PM
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 … (10 comments)
zenithadvisorscom: Foreclosures as a symptom...
- 01/07/07 03:05 PM
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 … (8 comments)
zenithadvisorscom: Contract Processing
- 01/07/07 06:10 AM
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. … (12 comments)
zenithadvisorscom: How should I find new Loan Officers?
- 01/06/07 03:42 PM
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 … (3 comments)
zenithadvisorscom: Is Real Estate a 24/7 job?
- 01/06/07 03:22 PM
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 … (8 comments)
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.
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