sales tools: Do You Know How To Develop A Business Plan?
- 06/22/07 07:34 AM
Most individuals readily admit THEY SHOULD have a business plan, however once they get down to writing one, they often get overwhelmed. The first mistake many people should realize is that a personal business plan: Does not have to be a huge document. It need only include key components and serve as a guide to building a long-term mortgage practice. It's a flexible document that should change as your business grows or the business environment changes. Consider these simple instructions when writing your own plan. <Click Here To Continue> … (0 comments)
sales tools: Why Metaphors Are Such Powerful Sales Tools
- 06/22/07 03:31 AM
What makes the use of metaphors such a powerful communication tool? In my humble opinion, it's because they simply drive home a point with a short, memorable, and emotional punch that information and logic alone do not have. I have repeatably witnessed the use of metaphors by some of the top superstar Realtors and mortgage professionals as a teaching tool, or to convey difficult concepts to their clients. The flood of information coming at our clients daily is increasing, not decreasing. More information is not the answer. In this environment, we need new tools and strategies to get our messages heard … (5 comments)
sales tools: Pre-Approval Letter Defined - Again
- 06/02/07 09:38 PM
I'm starting to see more of a dirty little secret not often discussed in the mortgage and real estate industry. It however is is starting to pop it's ugly head more than usual and I have a feeling our current market environment has something to do with that. I'm talking about "Pre-Approval Letters" and what they REALLY mean. While researching this issue, I came across a post written by Rhonda Porter titled "Pre-Approval Letter Defined." Rhonda is a top mortgage originator in the State of Washington and in her Blog she wrote a very clear and concise article about Pre-Approval Letters. Pre-Approval Letters … (8 comments)
sales tools: Leadership, Respect and Loyalty...a Lesson Learned
- 06/02/07 09:14 PM
During the early spring of 2005, I was leading a national project team that had sixteen incredible people whom I had a tremendous amount of respect for. One night while in a hotel room and thinking about the project, I suddenly realized such and became overwhelmed with appreciation regarding the individuals I was working with. It was at that point I started composing an email in which I wrote a paragraph of what I respected and appreciated about each individual on the team. When completed it ended up being a five page email. After reviewing it, I then hit the send button and … (2 comments)
sales tools: How One Client Turned Into 72 Closed Transactions
- 06/01/07 12:59 AM
We always hear about building a 100% referral based business. While I don't think very many can claim 100% of their business is referral based, I know numerous superstar mortgage and real estate professionals who's business is in fact at least 90 to 95% referral. The Best Time To Get A Referral What do people talk about with their friends when they're buying a new car? About new cars! Better yet, what do people talk about when they are buying a new house or refinancing a mortgage? That's right...houses and mortgages. More importantly, when they talk about mortgages, are your customers talking … (51 comments)
sales tools: Customer Satisfaction versus Loyalty - Mining Your Acres of Diamonds
- 05/30/07 04:42 PM
Jeffrey Gitomer makes a very interesting distintiction between "Satisfaction" and "Loyalty." In fact he will ask salespeople if they would rather have their spouse be "Satisfied" or "Loyal?" Think about the question and turn it around from a client standpoint. Now the million dollar question is how to build customer loyalty? How can you be assured of the best possibility of capturing those repeat and referral customers? Research has shown that 85 to 90 percent of mortgage customers are "very satisfied" with the service they received. However, only 10 to 15 percent of past customers are typically loyal and come back or give … (2 comments)
sales tools: What Makes A Good Mortgage Blog
- 05/29/07 03:43 AM
What makes a good blog? Given that mortgage and real estate blogs are starting to proliferate, I get this consistent question from my readers. First, I do not claim to be an expert...far from it. I can however give my my opinion on what I enjoy in a blog. Honesty Readability Transparency Sense of the bloggers voice and personality Non corporate and making sure it doesn't sound like a PR machine Fun, interesting and relevant content BrevityAdditionally, I have compiled a list of informative and helpful links you should find interesting and helpful while providing you an excellent overview of what makes … (0 comments)
sales tools: Turning Lemonade Into Mortgage Leads
- 05/28/07 09:26 AM
Just read a post that had a great marketing idea for originators calling on Open Houses. When I was starting out, one of the most effective ways I found to get Realtor business was calling on open houses. Recently I was speaking to a gentleman who started in the business thirty short months ago and last year he funded $40,000,000 (80% Realtor referred) with an average loan amount of $209,000...now that's a lot of loans for someone who just recently started in the business. When I asked him how he had build his Realtor based business so fast, he told me … (2 comments)
sales tools: Is The Customer Always Right?
- 05/22/07 03:59 AM
Is the customer always right...no matter what? My first years in the mortgage business, I believed the answer was emphatically yes. After all, that's what my business professors taught me in college. However, after a few years of dealing with more than a few difficult customers, I seriously began re-thinking the customer service mantra "the customer is always right." Have you ever had a customer who was impossible to please? No matter what you did, nothing made them happy? I have and below are a few other facts I realized: They were typically my lowest profit loans (if they closed at all) Allocated three … (8 comments)
Most individuals readily admit THEY SHOULD have a business plan, however once they get down to writing one, they often get overwhelmed. 
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