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Marketing YOURSELF or your COMPANY...... Part 1 of 2

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The longer that I am in the mortgage and real estate business, the more I have been a true believer that it should be all about me and what I can do for you and your clients. When I first got into the mortgage business, I always pursued the larger corporations just because I was new and because I wanted and needed name recognition. Sure, you need to work for a good company, one that supports you. As a loan officer, a company that may have great rates, able to underwrite in-house, and expedites the processing process. As a realtor, great education classes, continued education, access to the MLS, and state of the art software.

You the client, you are buying my expertise, my knowledge, how I communicate, my follow-up skills, and how creative that I am when it comes to financing options. Marc Blasi wrote a blog : Does Company Size = Company Quality? Basically, is a bigger company with a big name in any industry always better? I see so many people put more emphasis marketing their company than themselves. Even here on Active Rain. Now, don't get me wrong, these are some very good companies. But overall, they don't offer anything more or differently than what I can offer. It usually comes down to the individual. This is where educating your client is a big part of what will happen in the next few minutes of your discussion. And one thing I find that so many sales people do is that they don't "keep their clients level of expectations to a certain minimum". Meaning, don't over-promise your client.

Example: Several months ago I had a client that ended up going to a top 5 mortgage company because that's what they were, a top company based on volume. They received a rate about a 1/4% better than what I could offer them. I later found out that their rate was 1/8% worse than mine. The original rate was based on a stated loan, when the client even told them that they needed a No Doc loan. And that's what I gave them, a No Doc rate. But the loan officer thought they would have no problem with the income aspect, until the underwriter shot it down. Hence the reason why they ended up with a true no doc loan and a higher rate. Why don't clients then go back to the original loan officer or sales rep.? Embarrassment? They don't want to hear how wrong that they were? (which, why would I make them look and feel bad? I want their business).

A little hint: At least in the mortgage industry, most of your top companies are not based on just what their loan officers can produce. It's based on total sales from other lenders and brokers that they go out and buy from. Example: Countrywide is a top 5 lender. But lender X, lender Y, and lender Z also sell their loans to Countrywide. So, you have Countrywide's wholesale division buying loans from these lenders and their retail division that go out and network, bringing in their own book of business as Countrywide employees (loan officers). I did a blog several months ago, What's the difference between a mortgage banker and a mortgage broker , which talks about the difference between a large company and a medium sized company. Again, it comes back to the individual that is working for you.

Last, finding a company that fits your goals and what you want for your clients. And not a company that has a large name just because people will know who you work for. Renee Burrows just went through this for months, while looking for a new real estate company to work for.

Summary: In your sales pitch, don't always say what your company can do, but what you can do. Service should be your main priority when defining yourself against your competition. In my industry, anyone can offer a great rate. But as they say, you don't always get what you pay for. Or in some cases, you get what you pay for. And I will touch more on the types of features on how to sell, may you be a realtor or a loan officer, or a stagger. Listing tactics, sales ideas, and as I told Nima in one of my comments to his post, I will share some marketing ideas that we all can share.

Here is part 2: Marketing YOURSELF or your COMPANY...... Part 2 of 2

Posted by Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans on 12/30/2006 07:32 PM

Comments (75)

marketing, mortgages, jeffbelonger, jeffmortgageman, loans, competition

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75 Comments on Marketing YOURSELF or your COMPANY...... Part 1 of 2

DEC

2006

The company name does something SPELL OUT the minimum standards, but then again it's no guarantee.

The same thought goes for selecting the PERSON instead of the COMPANY:

When I found out my hairdresser (JCPenney Hair Salon) decided to go on his own, I went with him to his new place. It's HIM that I built a relationship with. Not Penney's.

I think it's the tie. When people see your "power tie" the become disciples.

I'm with Loreena on this. It's about relationships. The relationship is with Jeff, not Assured. I did a "logo alteration" in October. I sent announcement cards to my priors, sphere, etc. The calls I got were positive and some even asked why I moved. I told them the truth. It was better for my buyers and sellers, period. The phone has been ringing ever since. They forgot all about that "other" logo.

Loreena... thanks for stopping by and I look forward to those pictures for my one post.... "what you looked like 20 years ago."

I loved your example of your hairdresser. I totally agree. Someone approached me before, to use their title company because I could make money legally. But I chose to stay with who I had been doing business with for the last 8 years.

But overall.... more of the point that I was trying to make was going after new business and not so much keeping your old business, past clients, and getting referrals. But this can be seen as a two fold also.... past and present. Thanks for your input.

Chris.... welcome back. Break any limbs? Thanks for sharing about the logo alteration. And yes, just telling them the truth and that you not only want to service your clients, but service them well. And you do need a good company behind you. But as a team and not using the name of the company to get you the business. Again, it can go both ways, but I also prefer to have more control on what I do and my decisions. And I can achieve this with a mid-sized company also.

I'm not back, yet. I put the stooges on a plane today. I have a day to myself and new years in Scottsdale. Hopefully, getting home won't be as hard as getting here.

Jeff...I market "me"not my company..22 years taught me it's about people and relationships...don't matter what company I'm with.

Need to follow our State Laws to disclose company and phone number but it can be small and we rarely advertise the company just the team and our branding stands out.

Jeff - It's why we chose Keller Williams - the emphasis is on the agent not the broker. KW calls their business model agent-centric.

Jeff,

Real Estate and it's offspring (mortgage lenders, stagers, etc.) are relationship businessses... I am nothing without my peeps whether they are my customers/clients or other service providers. Size really doesn't matter in this biz, it's quality that counts. My personal goal is to provide outstanding service, very simple.

Have a happy new year!

My experience is that clients choose an agent first, and a company second. I haven’t been with a small firm, but we never get asked to validate our company or background. People know Prudential, know it has a good reputation and has been around for a long time. It’s just one thing we don’t have to justify during marketing presentations.

Jeff B: How are you my friend? Who is "Nima" that you mentioned in your last paragraph? Oh wait, that's me! Thanks for the mention. Why isn't my name linked to my page? Just kidding, inside joke we have. I will admit to it and Jeff will second it for me, I do both. I market myself and Countrywide. I mean, my business card has to have my company logo and when I do fliers, Countrywide has to be on there. When I go out I put on my Gold Countrywide name badge. It is hard not to bring up the name Countrywide. I mean, Countrywide being the largest lender in the country is not a bad name to bring up. I will admit that Countrywide was not really well-known 4 years ago here in the East Coast but they sure have made a name for themselves.

Your Countrywide Mortgage Man,

Nima

PS: Jeff B. and Active Rain Members, Happy New Year!

Great post!

There should definitely be an emphasis on you, not the company but also be careful not to cross the line of over self promotion. Your marketing should be about your customer, if you write too much about yourself and your achievement, you will not gain one vote. BTW - I'm not saying you do this Jeff (before you chew me out) - but there are a lot of REaltors and Lenders out there that focus their marketing on how long they have been in business, how many loans they have closed or homes they have sold, what designations they have......it's all BLAH BLAH BLAH to the customer.

Jeff,

"Service should be your main priority when defining yourself against your competition." That statement really made an impact on me. So true - and it has given me an idea on what the emphasis should be for my 2007 marketing campaign!

Thanks!

Your summary is great Jeff! Branding ourselves should be numero uno whether someone would personally choose a large franchise or a small independent. The bottom line is that all of us in this business are a commodity and we have choices on which brokerage will offer us the best support/systems to tailor our business model for the best split.

I am speculating that it is going to be all about product knowledge in the future as the internet is the wave of the future. The biggest/baddest/franchised brokers do not offer "product knowledge". It is something the individual has to pursue for themselves.

Thanks for the plug :)

Jeff,

Being a small mortgage brokerage business, I promote myself when I am out. Yes, I wear the company shirts that I got made with the logo, lose the golfs balls with the company logo, etc, but when I am in front of a potential client or referral source, I talk about me. I promote myself. I sell my services and knowledge and expertise.

Because I am such small time, I do have to balance out both company recognition and personal recognition. I want my logo in my local market to be a familiar one. But, I also want them to know my name. If my company was already established, it would be so much easier to just promote myself. Plus, it does not help that I am still considered a newbie in this area even though I have been here almost 2 years. (Good old boy territory... takes awhile to break in.)

To give an example of how I market, my business cards are two sided. The one side promotes the company. The other promotes me. I place them in two card holders side by side with one showing one side and the other showing the other. I also distribute postcards solely promoting the business. Then, I follow up with a personal call to promote myself.

In the end though, it is not the company that sells the client, but me. It's all about me... :)

JEFF -

Great post...as usual.

Promoting yourself in a relationship based insustry is absolutely neccessary.
However, there are certainly other reasons individual might promte a company.

One reason as pointed out is the larger the company the greater the mandate.
Established company's certainly do not want individuals corrupting their branding.

I worked for years as a small brokerage and a franchisee of a national lender.
Then 2 years ago I joined a larger company to take advantage of their brand.

It was difficult to differentiate yourself in a large metropolitan city - Chicago.
Since then I have relocated to a new market and I glad I have some branding.

As always, it comes down to what works best for the individual and their clients.

Looking forward to the marketing ideas (especially as the new kid in town).

Jeff:

I think the loan business is more than the ordinary person can understand. I do believe that trust is the biggest thing when it comes to clients. If the client trusts you as a loan officer, that's 90% of the battle. All the stuff about stated income loans, option arms, a different product will dictate a different interest rate, etc. etc. just confuses the buyer or realtor. I think sticking with the basics, i.e. trust and intergrety will go a long ways toward building the business for any mortgage broker.

Ken

It's all about you. If you change companies and have done a good job... people will follow.

moo

DEC

2006

It's true I pick and work with the agent first. But if he is with a fly by night company, I will never work with him.

Aloha to all and have a Hauoli Makahiki Hou (Happy New Year in Hawaiian)

I believe my marketing is all about ME, since I am the one paying for it and if and when I leave, I don't want to have an investment in a company.

I'm a big fish in a small pond kind of guy and don't like the environment of being a small fish in a big pond.

Just my thoughts,

Have a Blessed Day,

John Occhi, Hemet Realtor
www.JohnOcchi.Com

i cant agree with you more jeff, i promote myself . my experience and my skills on this website. I only mention the company i am an independent contractor for only once in my profile. If it wasnt for Los like us our companies wouldnt be as successful as they are today..................... Happy New Years to you and yours Bro

Eddy

I do believe it's all about the relationship between you and your clients. After all is said and done, a seller will normally list with me rather than the company.

"You get what you pay for." How true! Service, personal service, is key. Great post!

Well since I'm a one man show it's easy for me:)

Sometimes I have problems when a person moves to another company especially when they have been promoting their former company so much. If you've been telling me how wonderful your company is for the past three years and then move to another one, I want to know why? If you tell me the rates are better at your new company or the company is so much better, I then wonder about all the stuff you've been telling me previously. Why did you stay at such a bad company for so long? Can I now trust you when you tell me how wonderful your new company is?

I am in agreement with the majority. Many of our clients dont even know what company we work for. Aloha!

Chris G..... was that Larry, Mo, and Curly? In either case, hope you had a great time and Happy New Year. Have a safe trip back.

Monika..... I agree.... relationships. As I said before.... part of this post was suppose to be about new business also. I guess I didn't really touch on that. That was what sparked me to write about this. Dealing with new clients and their perception. thanks for stopping by.

Teri..... I think that is with most states and respa..... company name and phone number have to be on there. In the lending world, at least in NJ and many states, I can't even advertise with just my name or cell number. I need the office number and company's name on there. thanks for the input.

The Harper team....... I am hearing more about Kellar Williams and what they stand for and how they market themselves. Probably hence the reason why they have grown so quickly in the last few years. People are accepting and adopting to their business model. And because of the company support and training. thanks

Joanne............ I agree.... very simple indeed. Here is what I wrote to monika.... "part of this post was suppose to be about new business also. I guess I didn't really touch on that. That was what sparked me to write about this. Dealing with new clients and their perception." Again, I wish I would have made this better known in this post. I would also want opinions when dealing with this with a new client and not just past relationships.

Kevin & Sherry........... my point exactly.... they don't ask about your company, because it is well know. With a smaller company, I am sure many still get asked questions... "how long have you been around?" or " how large is your company?" etc etc. Also... it would be interesting on a survey of how many people actually picked you because of your company.

Now, don't get me wrong.... this is nothing against you. I am just using you and your company as an example. But I have had clients flat out tell me why they were using someone else.... "because they are bigger...well known" And you know what, a few of these clients actually had a bad experience with them during their process..

What I tell clients.... and pretend this is a name of a top 5 company. Biggest, Best Mortgage company and they are a top 5 company. I would say,"and will Mr. Biggest, Best Mortgage company, be handling your mortgage, or one of their employees? Sir or ma'am, it's a person behind the company handling your transaction. You will be dealing with a person just as myself.... People can make mistakes.. people can lie.... people can bait & switch"

Overall... need to educate and tell people to go on their gut at times also. There is a lot more to this which I will be sharing in part two... thanks for your input.

Doesnt matter if its CWBC or Joe Bob's joint...it comes down to the actual originator...

Many times, the larger banks higher the less experienced talent to originate, so they may pay bottom dollar and keep overhead low....This doesn't bode well for the consumer...

Ive found the best client experiences come from a Company like Jeffs....a relatively 'lesser known' company with a very seasoned entrepreneurial LO working the file.

Market your competitions weakness Jeff ;)

Nima.... well, I purposely left your name out as a link to see what you would have said. And then once you mentioned something, then I was going to change it. Sometimes I like to see who reads the whole post. You would be amazed at times.

In regards to you and Countrywide. As I have told you before.... in my honesty, I think you push Countrywide's name too much and too hard. It shows even on here and your blogs. Now, nothing wrong with it, but as you see many of the comments, the company's name should be secondary. Again, just my opinion. And I did work for a few big companies, one was Norwest Mortgage, who was number 1 back in the mid 90's and later was bought out by Wells Fargo. I was newer and used that name to try and get me business. But you know what, I didn't brand myself as much and I did okay.

As so many have stated, work on the actual relationships.... don't be running around stating.... Here comes Nima from Countrywide.... Countrywide alert... Nima... Countrywide. ONE MAIN REASON>.... it's even harder for you to ever leave and you might get caught up in the bigger companies limelight, that would and could cost you money because you didn't make a move to a company that would make you more money in many different ways.... and not just a large name.

Anyone have some added thoughts to what I just tried explaining to Nima? Nima... please don't take it personally. But I have seen TOO many loan officers that had talent, but were stuck in the middle of the group of a large company.... and never excelled because of this. Just take that advice of someone that has been doing this for 14 years..... with a few large companies.... a #1 company, a #51 company (now #15 or so), a #62 company at the time .... a few mid sized companies and many small companies.

David..... thanks for that polite compliment.... and happy New Year...

Ines...... wow, before I chew you out? LOL Would I do that to you or have I??? ;o( If so, sorry.

But seriously.... I totally agree with you. A great point Ines, over-selling yourself. If you read my profile or ever listen to how I talk to realtors or clients.... the only thing I am guilty about is telling everyone how many years that I have been doing this for. I myself don't think this is bad, because it lets a client know that I should know what I am doing.... ;o) I would like your opinion on that. But when speaking to a realtor about this, it's design to let them know 2 things... I myself am not a fly by night or a newbie (which we all had to start somewhere, but the lending market has changed so much with so many new programs, that so many new loan officers just have no clue) and 2nd, that I have been able to survey the peaks and valleys.

Ines...thanks for bringing this up and your input. And I still would like more detailed input on this thought alone, my years in the business. I am always looking for opinions and possibly new ways and ideas to make this more polished. thanks

Val....... thanks for that great comment and compliment. And my pleasure... I am glad that I could help a little and for new thoughts for 2007. Wishing you much luck & success in 2007 and to everyone else.

We promote a WIN-WIN-WIN business. The first Win is for the full range of products and great pricing that the customer has available to them. The second Win is about the great customer service that WE give to our clients. The third Win is about how we as Mortgage & Real Estate professionals get compensated for the work that we do. The first depends on what company has to offer. The second depends on US and how we conduct ourselves. The third also depends on the companies compensation plan for US. The first and third are just the tools that we work with. People do business with people so that is what we should advertise. We are not an extension of the company, the company is an extension of us. WE chose the company that we work with(not for) because: They have the first WIN covered. They also have the third win covered because it lets us own our own RE and Mortgage business and get paid beyond our own production. The second WIN is easier and the customer can tell when we are Truly happy with the first and third. So the answer to your questions is that we advertise us and then the company to the customers and we advertise the company and then us to our future business partners.

Lance & Elaine
The Wells Team

That's true Jeff, we can talk all day long about what our company can do. The bottom line is what can I offer you my customer. Thats what I try to sell most of the times and it works!

In Arizona the Department of Real Estate requires the Brokerage information to be clear and prominent - doesn't mean we can't brand ourselves - but cannot omit the Broker's info.

Yes, the name is a blue link now, sweet. Thanks.

Listen, we have talked about this like 3x a week at times. I understand all of your points but there are some advantages that smaller lenders don't have.

I will blog about the advantages of working with a BIG NAME Company or THE LARGEST and THE BEST Lender in America.

Let's see what others will have to say as well. I will state my reasons and opinions and we will have other mortgage professionals comment.

Bottomline is: We should all work somewhere where we are happy and that we can do what we do best, which is provide home financing for our clients.

Happy New Year Jeff!

Jeff - I agree that when you are speaking with a client you should always talk about what you (or your team) can do - not the franchise.

The focus, as you say, really is on you and not the company. There are plenty of big name good companies with people who can't or won't do the job (have had some personal experiences there), and terrific brokers at smaller, lesser-known companies that I trust implicitly. The same is true for agents. Great post, Jeff, as always, and some great informationo.

Jeff,

Thanks for the post. I would tend to agree that it is about the relationships. The one you are about to forge or the one that generates the referral. My repeat clients almost never refer to the company, it is the individual that provides the service that they remember the most.

In New York we also have to display the Brokerage information, however I spend time branding myself because the people who work with me does so because of my reputation.

I promote myself first, my company second. However, in Ohio, we're required to have the broker logo/info be as large or larger than the space devoted to our name/photo in ads. In my former career, I worked for the number one brand, and that's how I selected a real estate broker when I entered this career. For me, it's important to be associated with a top company I can be proud of, but that's just me.

The way I view it for listing presentations, for example, is that I have a basket of tools to use in marketing the home or services offered to the client. Most of those tools are the tools that I decide to use (web sites, photography, ads, custom brochures, etc.) Being with a #1 broker who also offers the client a bunch of tools, just adds to the total tools in MY basket. If I weren't with a top broker with lots of tools, then my basket would be smaller.

However, not all my broker's agents put the same additional tools in their basket as I do. It's MY TOOLS that make the difference. And as the Spengel's said, being with a top broker with a great reputation means I can spend less time in a presentation, justifying the broker, and spend more time on the extras that they'll get from me.

But for print ads, once I meet the legal size requirements, my ads focus on the homes for sale. I agree with Rick & Ines, I don't do the type of ads that include the alphabet soup or "I'm the top-selling agent, blah, blah, blah". My ads are intended to try to sell the home for my clients.

Excellent points Jeff!

The only reason I think we, as Realtors, need to advertise a company name is for the name recognition that so many follow. Just as people buy brand names in the grocery store, so do they follow the same concept with providers of service in any service industry. But we are definitely more concerned about service and we try to deal with every person on an individual basis and treat them as if they are the only customer we have. Individualized Service is our game plan! Thanks for an excellent post!

Lisa

My company Prudential Verani promotes the company name quite well...I spend my money on my name and if I need to put my company name on ads and stuff like that I do but I make it smaller than my name. I am promoting my brand when I spend my money....signs riders...pens..stuff like that ..my money and can go with me if I leave...not in the trash can.

Renee...... thanks for the compliment. And yes, branding and about us. The scary thing is that I do agree that it will be about product knowledge.... BUT... it still goes back to a client, at least in my business, calling in and saying.... "what is your zero pt rate for 30 yrs." And that loan officer will low ball the rate. Well, there was no product knowledge needed. It comes down to making the client aware online, before they make their decision. And telling the client... WAIT, WAIT.... let me get to know your goals first, because I might come up with something better than what you think you want. This is the part that I want to make clients aware, before they take that cheapest rate that might not be so cheap. thanks for your input

Jason..... thanks for that great comment. I agree.... even when new with a company or a new company, I do agree that you need to get that out there, to the public. But also branding your name. But overall, getting your name recognized.... also, because if you ever do leave, you might be lost in the shuffle, because you made people know who your company was and not yourself.

Brian Bass..... you make some good valid points. For the most part.... I brand myself and my name. But I don't want anyone to get the wrong point, I will market my company.... but only in one area... that we have full control over our loans, just as a big company does, and that I am able to turn around more loans than them, because we make deals work. It's been proven that the larger company is bringing so much more business in, that in reality, their philosophy is to take the good loans.... and work on the marginal deals...but now always. It's been proven. And it's just a fact, a fact that many loan officers need to face, those who work for a large lender. And will tell the client..."we are big...which means we are powerful..which means we will do the deal" NOPE.... just the opposite and this is not an opinion.

Ken...... awesome.... something that I really didn't trust upon, but I will in part 2... TRUST Just as much as I said service is key... so is trust. These both tie in together well... trust and service. After these two, you really can't go wrong. thanks for the input.

Angus...... you are so right. I left one company one year and I didn't have time to send out all of my mailers to update my previous/past clients. I had one client call my previous company and basically demand that they get a hold of me or give me her number and message. They tried stealing her away. But finally my old boss calls me and says./.... she muct be pissed at you, so here is her name and number. She has been tying to track you done.

Summary ..... but she wanted to refer me to her son.... and I ended up doing his mortgage. That was awesome, that she hunted me down and didn't give up. what a great feeling. thanks MOO

JB,

In a mortgage transaction the loan officer/mortgage broker is where the rubber meets the road. In my opinion, the success of any transaction is rooted in the LO/Broker! Not the processor or the company but not to say that they are not an integral part of the equation. The savvy, knowledgeable and experienced LO/Broker with honesty and integrity will uplift a mediocre or good mortgage lender to the next level. If the lender or broker office employs this type of LO/Mortgage Broker across the board then there is a synergistic impact in that the sum of the parts become greater than the whole. Market yourself with a demonstrated and proven track record the companys reward will come on your coat tails.

Aloha Randy.,...... That's good.... and I agree, about going with someone else if the other person is a fly by night. Some people try to use that against me since I am with a company that has only been around since 1999. But what's great is that I can underwrite and close better than most large companies... and there are many reason for this.

But my main thing is.... I have the same programs as everyone else. Me? More creative..... have a better understanding of how mortgages work and not just give you what you want. And I communicate and follow up, good or bad. SERVICE.

Hauoli Makahiki Hou to you too....

John....... I like that.... big fish in a small pond...... overall, thanks for sharing and for stopping by.

Eddy...... thanks for the comment and for sharing. And yes, Happy New Year and a safe one, to you & your family.

Diane...... again, I agree... being about the relationship between you and your clients. But as I said before.... part of this post was suppose to be about new business also. I guess I didn't really touch on that. That was what sparked me to write about this. Dealing with new clients and their perception.

Kathy....... thanks for the compliment. yes, those were the two key things that I like to point out.... Serive, personal service... & You get what you pay for. Thanks for stopping by.

Outstanding post as always. I look forward to the sequel. Happy New Year!

I have been a Realtor since 2004 and I believe you have to brand yourself. Companies may come or go, but YOU will always be the contstant. All my materials have a certain look. From business cards to flyers to letterhead to email stationery. Just this last summer I changed companies, except for a logo change my materials will remain the same. I look forward to part 2 of 2 also. Thank you.

Bryant...... I am sure.... that must be a great feeling for the most part. That is one thing that I like about my situation now. Even though I work under a corporation's name, I basically run my own show. I use their pricing and products... but I promote myself and my team...branch.

The added benefit that I have than if I went out and opened my own company is, I am not a broker... my company underwrites all loan programs, from A to Z... from good to bad. Not many mid sized and hardly any small companies do this. And I can do it better than most big companies. So many reasons why. thanks for sharing.

Tim..... a very good point... rates were my excuse the first 2 to 3 years.... because I didn't know better.... on what people and companies would charge. And not knowing how far off the company that you were with, was off a little. Besides... it was a lot different 10 to 15 years ago, when it came to rates and companies. But if they use this excuse 4 to 10 years later, then I am with you.

But if... I tell you... hey, my rates are the same and usually a tad better... say, 1/8% better... which sure, any sales person should be able to sell that. Again, it goes back to service. But if I also mentioned that I underwrite most of my deals, even the sub prime deals.... my turn around time is the same as any little or big company... everything else is the same. ME???? NOW?? I have a great underwriting team that is told to help make deals work and not just give it back to the loan officer. Basically, a team concept from start to finish. And you know what, the larger companies say they do the same, but they don't I have worked for them. They have more to risk and they get so much more business, that they don't care if they lose some deals. And that's a fact.

David.... lol Well, that might be a tad bad.... but I do get your point. Thanks for sharing and aloha...
Hauoli Makahiki Hou

Jeff C ....... my point exactly.... thanks for the confirmation. And thanks for stopping by. One thing though, because Nima would bring this up. His branch did go out and pay close to a six figure sign on bonus to a loan officer that brings in more than a ton of business. That would impress a lot of people and Nima included. But you know what they tells me? They aren't the cheapest... they need to eat up that cost. They are very competitive.... but not the cheapest as so many from that company go around and say they are.

One of my loan officers just moved from Delaware to Arizona and decided to work for Countrywide down there. She go an inside loan officer's position, feeding her leads. So, that tells you that Countrywide is changing with the times also... and not just a bunch of loan officer's from the street. They even employee inside loan officers, sitting at a desk. So many of you hate those shops that a company would have 20 to 30 loan officers in an office, as we call a sweat shop, that just answer calls. My whole point, just as Jeff Corbett has mentioned.... less experienced working and answering the phones. And nothing against this person, but she doesn't know that much and has already called me to help a client of hers out because her company can't and she knows that I am good with this stuff.... hhhhhmmmm

Lance & Elaine..... this is what you wrote prior:

Lance & Elaine
The Wells Team

Well said..... I don't have much more to offer from what you mentioned. Very well put and thanks for that great input. Overall...thanks for stopping by and for sharing.

In lending and as an agent - it is truly about you. The name recognition from a large firm can add some support to your pitch, but its still YOUR pitch and YOUR performance that will determine your level of repeat business!

Netta.... I agree....hence the reason why I wrote this blog. I basically wanted to make a few points. Thanks for stopping by.

Tony.... you are right about the laws and such. As I stated before, RESPA and advertixing for any lender, must follow a few rules. One is the lender symbol..... your company's name..... the company phone number and not a cell #.... and yes, then you. I am not sure about the real estate laws and issues, but I know some states might be different, unless it's a NAR thing.

Nima..... I am not denying at ALL, that we should work where we are happy and such. And feel like we can do the same for our clients, even at our current company.

I am not here to challenge the issue at hand and I won't say, beware... ;o) But I will give a quick thing to think about and to dwell on. Don't forget those mid companies that are bankers.. that can underwrite in-house and then sell to a bigger lender, or a servicer. The reason that I say this is that I have the ability to use ANY Countrywide product... ANY...with the same pricing. But I can use other companies.... and better sub prime programs and rates. And... WE UNDERWRITE our own deals, even if we did sell them to Countrywide. Having DU and delegated underwriting and not only CW's prices....but we sell to Wall Street also...to investors on Wall Street... and we can make our own decisions and do some things that big companies can't do. I am just saying this to give you a platform to debate against. I look forward to it.

Again, thanks for your input, I do appreciate it.

Suzanne..... again, the basic theme of this post. And I agree... but I will talk about my company in regards to one aspect... my pricing is the same and a tad better than the big boys, with respect that we underwrite our own loans, not the people that we sell to. We have both of best worlds.... I challenge the big boys to show me better... seriously. thanks for your comment.

Jeff Dowler...... first off, thanks for the compliments. Much appreciated. 2nd.... as I have pointed out and so many others. I will not fault those that need to at least start some where. Sure, everyone is brand new when starting out. It's what you learn while starting out... taking the initiative and wanting to be better and not settling for mediocrity.

Jeff

Great topic. I have always believed in promoting myself instead of the company. I believe I run a small business. To me, the company I work for simply provides the infrastructure and environment for me to be successful. This is truly a relationship business which I control, not the company. I can honestly say most of my clients have no idea who I work for. They just know they were told to "Call Russ, he will take care of you." They also probably don't care who I work for either. They just know I will get them a good deal on the mortgage which is all that matters in the end.

I had to change companies early this year. My pipeline had $10 million in loans at the time. Not a single one of my clients left me when I told them I was changing companies. In fact, some didn't even know I changed companies. They had my cell phone number and since it was a seamless transition, it never became an issue.

Jeff - you've never chewed me out...I was just kidding (but you are a sensitive guy - so at no time do I want to offend you). Telling people how long you've been in business is not bad - telling them over and over again is horrible. I think a similar topic has been discussed before here in AR about how a lender or mortgage broker can market themselves to Realtors. I can tell you that I give business and refer my customers to those people that take the time to know me and my style. It's not so much about what they can do for me as a Realtor, or what they can do differently, but for me to know the human side of them. For example. There is this great guy by the name of Ed Brill (who I invited to Active Rain, he did his profile and never got any further) - who is personable, an overall nice guy who sees me down the street and makes a point to stop to say hi. He coaches kids' sports here in my area as a volunteer and it is a pleasure to refer business to him. So the best marketing is that which does not require any money, but does require effort. Ed at no time introduces himself as a mortgage broker, he lets others do it for him, he is not pushy and that's what I like. HAPPY NEW YEAR! Hope that helps.

To a small extent a brokerage with a national or international presence does have advantages over a smaller, local firm. Because of their resources they can give properties greater exposure, and their national presence may create a larger pool of potential buyers. That being said, we always tell potential sellers that 'companies don't sell homes, agents do.' And with Keller Williams I have the best of both worlds - a large company that promotes an agent-centric business model.

Like Ines, I always recommend a special lender that is excellent at taking great care of my buyers. He's fantastic, and I can trust that when he says they're pre-qual'd, they really are. I've never had any nightmares with him since he is so good at the upfront. Plus, he has great rates, comes up with good programs that meet their needs, AND he comes to closing. My clients have always raved about him, and as he notes in his profile, 90% of his business is referrals. I don't believe he does any advertising - doesn't have to. He also hasn't done anything here except enter his profile. I suspect he's too busy.

Jeff

Happy New Year!!! And I hope that 2007 is a prosperous and Blessed year for you and your family.

JAN

2007

Jeff - Happy New Year!

I think our industry has evolved over the years.....At first, it was small, localized offices, agents who had lived in the area all their lives. Then, the focus shifted to big national chains. After a while, the emphasis became the Agent, and all our advertising and marketing promoted US. Now, the focus has changed once again, to the Customer. It's all about the Client, how can we best serve them and diligently represent their interests.

William....... thanks for the compliment. And thanks for mention both prior clients and future clients. The later was what I also wanted to talk about. And this is what most of this post was for, future clients. Many of us know about keeping those relationships, but it's getting the new one and competiting against the big boys just because of their name.

Jennifer...... yes, several people have mentioned that they have to have their company's name on their ads, etc etc..... it's interesting that many will make their company's name small....in small print. thanks for sharing.

Elaine...... interesting that in Ohio, your company's name needs to be as large as your name.

In regards to wanting to work for the large company because of their name.... there is nothing wrong with that. I truly don't think it matters as much being a realtor and working for any real estate company than it would be for a loan officer working for a lender. Now... I could be way off base and would love for anyone to explain this to me. But what I am getting at.... if I can offer more programs than a big name company, then that is better for me.... and that my rates and fees are the same or better...... I have it better. .. now, this is just my opinion, but I would love to see a loan officer prove me wrong.

Lisa & Robert....... thanks for a great compliment. In regards to what you mentioned... hey, I agree... if I worked for a large, well-branded company, of course I would advertise that. I would....why would I not use this to my advantge. But my focus would be on myself. And I see several people that market their company as much or sometimes more than themselves.... I think it hurts a little... especially in 2 cases....

1. if that company gets some bad press... or that some realtors just come out and say... I don't care for that company because they have screwed up my deals, not just once, but several times. And yes, it's been said by more than 1 realtor here on Active Rain in some comments. Now, don't get me wrong, all companies screw something up....but it comes down to that individual that was the point person, on how they handle the issue or problem at hand. Trust me, nobody is perfect. But my whole point is, this type of news will travel quicker, because people talk... and the bigger the company, more that they are recognized by the general public and by realtors. And yes, because they do more business, the percentage of this happening is greater.

2. if you happen to leave that company.... this could hurt you some, if you spent half your time marketing this company. And I don't care how many times that you will say ..."I will never leave this company" Many do. Sure, I would love to stay at my current company forever, because they have everything to offer that I need for my clients. But times change...

Monika...... thanks for stopping by again... and that's great that your company market's their name big time... and that you can take advantage of this..... and I agree....if you leave, all of that money is lost and wasted. I bought 25 books that I give to my buyers at settlement.... it is like a photo album, but it has envelopes for the client to put their documents in a safe place and for storage. It also has a business card slot, 2 ot them, for my card and for the realtors card. But on the front cover, I have just my name on it, not my company.. yes, just in case I do leave. Thanks for sharing this point.

Jeff,

I'm simply going to say 'ditto'.

No in an homage to RL :), but as in I agree - people make companies not the other way around.

Enjoy

Ron...... thanks for stopping by.... some great comments and I agree. Especially for the fact that good loan officers can elevate an okay company. But I will add this, in regards to a processor.... a very good processor and underwriting team, and your closer can elevate a very good loan officer to the next level of his or her business also. Great example.... my current processor, is on top of her job and it leaves more time to go after new business or spend more time with my current clients so I explain more things or better products. It also allows to be more creative on current clients to look at more programs. I call this a great TEAM, which makes me look better also. I am a big fanatic of the team concept.

Ed....... thanks for the great compliment. I'll keep you posted.

Debbie...... first off, congrats on becoming a realtor. Hope your 2007 is much better than 2006. Also, thanks for your comments and the compliment.

I like what you had to say, about your materials, that they represent you more so than your company. You set yourself apart from others in this way. It gives me some ideas for 2007. thanks

Kaushik......... thanks for stopping by. I like the word that you had used, "pitch". And we do agree. As I said before, I do promote my company in certain ways.... but as you said, it comes down to me. thanks

Russell..... thanks for the compliment and your comments. You input in regards to having a company that has the infrastructure is right on. That is how I hired Angela Phillips from AR who works in Florida. And you are right about the company supplying an environment, which is something that I like. I will admit, this can be missed when leaving a company that has this. My two previous company's had this and that part was hard to leave behind. Hence the reason why that is not number one for me though, but my clients are. Besides, I can create environment, which I am looking forward in doing with my new branch that I started.

You are correct on the second part also... just as when I left my previous company. My clients didn't really know until I called them. But 10 million in your pipeline? That sounds like a lot nowadays, because I turn over loans on an average of less than 30 days. Unless you have some large loan amounts at times... or your average loan amount is a lot higher than mine???

Ines..... yes, I am a sensitive guy... but I can take constructive criticism very well. It's the other BS that I tend to get over-worked at.

In regards to your comment... I agree. I will tell a client or a realtor once, how long that I have been in business...because at times, it is marketing and does sound good, and is mentioned for many reasons. But you are so right about the other part. Getting to know the other side of someone..... and I have always cherished that type of connection, that type of relationship. But I find it to be hard to do in my area, because of the types of people. So many don't have my personality.... ;o) And one that I did connect with on so many levels and could be a great relationship.... he liked girls and preferred to have a woman rep. instead.. which ticked me off. It wasn't the better person that one, but the better legs. And my legs are not bad either.... lol

Overall, yes, it did help. Thanks for sharing that. It's a great point. And I like the part that you mentioned, that he lets other people introduce him. LOL>>.. and I am laughing, because the realtor that I mentioned above, he would do this to me.... introduce me ALL the time..and even talk me up. But never gave me business... LOL And I ran into him at a Phillies baseball game this summer and he introduced me to a friend as Jeff Belonger who does mortgages... LOL And I still don't get business... anyhoo...

John N. ...... you make a great point with your first sentence. But as I said to someone else in another comment.... it's a little different when it comes to lenders though. Rates and fees add to the equation. If that makes sense. Thanks for your input.

Elaine R. ...... thanks for stopping by again. And yes, I agree with both you and Ines. But one thing about assuming that he is busy, hence the reason why he doesn't stop in here. I consider myself busy, not as busy as I would like to be. But busier than the average person. Hence the reason why most of my time on here is spent from 9 pm at night, until 1 am, sometimes 2 am in the morning. And a lot on the weekends... and yes, I am waiting to fall over soon.. lol Besides....I am very socialable, I love meeting new people (even if new business doesn't result from it), and I love blogging now and writing. And nobody in my family can believe that I have written 84 blogs in 3 months. I hated writing in school.

Overall... just my input on reasons why on here or not on here... thanks for sharing though.

JAN

2007

George.... thanks and hope you and your family had a Happy New Year. But no comment? ;o(

Rich....... Happy New Year to you too. Yes, you bring up some good chain of events. Marketing has shifted some throughout the years. For the most part you see agents branding yourself and the secondly, you would see individuals sometimes still market their company. Thanks for your input.

Christopher...... thanks for that added comment and in agreement to most of what has been said.

Jeff and others: I have this question that I want to seek some opinions on, rather than to add to the comment.

I have a good friend who joins a BIG FRANCHISE NAME. As the business slowed down, this person considered moving to a "discount" brokerage type. Yet, there are so much hesitation, going back on forth on the name where the license resides right now.

Is it true that we wont know until we are associated with the big names? This person believes that the "leads" received definitely drove the business over 6 figure in revenues.

Hi Loreena....... I am assuming that this question is for realtors? I could give a broad answer, but you might want to seek a few realtors instead, considering that our business is a little different.

You might want to explain to us in a little more detail, what you meant by "so much hesitation"??? and going back and forth. The more that I know or anyone else, the better that we could understand and possibly help.

thanks, jeff

Jeff,

I am new to AR and Real Estate, I am really interested in learning all I can about the Mortgage business, I am trying to learn about all areas of the business so that I know what people are talking about, currently I know nothing about Mortgages or the Business. I look forward to reading your Blogs :)

Jeff, are you a blogger or a mortgage broker.. :)) good stuff brother. myself particularly, I think its the person, not the company. I have met some real characters from well-know companies.

As a 'newbie' (under 5 years in the business) I never promoted # of deals, years in the biz, etc.. I would be shooting myself in the foot. In sales I use my appraiser hat as having another perspective to real estate. I'm your secret weapon, I have access to data that others don't (cue the James Bond music).

Also, for listing appts.. people seem to respond to an appraisal grid vs. a CMA. They may not fully understand it, but I emphasize the bottom line and final numbers..
The appraiser who sells real estate. (Am I shooting myself in the foot there?)

I always promote my Mission Statement, which is on the back side of my card. I hand my card to prospects with the Mission Statement side up.. and let them know.. Here is my mission, and BTW, my contact info is on the other side. :)) I figure companies have them.. why shouldn't I?

hey, I think I may have shot both of my feet in this comment!

JAN

2007

Monica.... Welcome to Active Rain and welcome to world of real estate. And also thanks for stopping by. Maybe we can catch up some.

Nick...... I am a blogging mortgage banker..... ;o) And thanks for the compliments.

In regards to your comment.... nah. Having info that others don't have is key. In any case.... I don't do much in Florida now, after I have hired Angela Phillips. But send me an e-mail in regards to what areas that you do. jbelonger@assuredlendingcorp.com and or comcast.net thanks

This is an interesting topic for someone just entering the industry. As an experienced business person and marketer I'm a firm believer that business is mostly about the relationships that are built. People make repeat purchases from someone who has honest dealings and integrity.

At the same time I think that there are different things needed at different stages in a persons career. Perhaps when you first start out it's important to go with a "big companies" name recognition until you have a chance to build your own. Later, once you've built that positive reputation it may make more sense to move to a different company.

I'm struggling with this very question right now. I'm entering the mortgage industry in 2007 after being away from the work force for 10 years to raise my kids. I'm still in the research process and am blogging on my search for the right company to join. Comments and advise are always welcome.

This is a relationship business, there's no question about it.

Katie Bourland

http://activerain.com/blogs/westcoastkate

Katie..... thanks for the compliment and comments. You are absolutely right when it comes down to building relationships with that individual.

Great example... I left my company over a month ago and it's sad, but I haven't been able to send out postcards to my previous clients, telling them that I have left. But I received a call from two different people today. One guy who I have helped 3 times prior and he called my old company, but they told them I am not with them anymore. He called me on my cell phone and asked if I was still in business. I said yes and I am working on numbers for him. What a great feeling.

I then received a call from a lady whose sister is a part time realtor in North Jersey. This realtor was impressed with how I handled her previous client, that she had her sister call me a few months ago. They never bought. Well, that's when she called me today on my cell phone, after calling my previous office.

Overall.....sure, I haven't gotten out a newsletter in regards to my new company, ... no excuse, but it was more work starting up my new office.

Katie..... in regards to getting back into the business. I would love to talk to you and at least give you my insight and perspective of today's market. I am working on a new blog in regards to part 2 right now. Check it out.

As usual Jeff you are correct. Anytime your service becomes a commidity, then there is always some other person who will sell their cup of porridge for less. Define why your better to the client, and why they need your service over someone else and most of the time you can get them.

Good information, Jeff. For new real estate agents it's easy to rely on the company name to get your foot in the door but it's what you do from there on that differentiates you so that, hopefully, you don't need the crutch (company name) any more and buyers/sellers are seeking you, personally, out... regardless of what company you are affiliated with.

Karl...... thanks for the comment and the compliment. Thanks for pointing out that we need to make the client aware why we are better than our competition.

Leanne..... thanks for stopping by and the compliment. And yes, I agree when you are new. Thanks for pointing this out again.

Here is my part to... the follow up to this blog.

Marketing YOURSELF or your COMPANY...... Part 2 of 2

JAN

2007

Jeff, this is some good information and input. It is all about yourself and I agree. Nice job.

Jim... thanks for stopping by and for the compliments...

Branding yourself has always been a priorty with me. However, you must sell your company because it is a reflection of your good judgement.

I generally talk about why to use me and mention that I chose World Wide Credit Corporation because:

1- longevity in business

2- They pay their bills

3- I like everyone there

Brian..... these are some other good points.... thanks for sharing.

FEB

2008

Yours is a post that keeps on giving. I agree, Jeff, that it's all about the agent you work with - whether a big company or a small one, it's the individual that matters.

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