Knowing what to do is the easy part. Knowing the "how to" is easy! The problem is
not with the strategies and techniques of how to do something; the problem is that
we don't "do" what we know. We don't use the knowledge that we have. And even if
we step out and use what we know, most people tend to give up too easily. The key
is to pick an idea for gaining new business and stick with it until you find a way to
make it work!
To make the most out of the following information, review this material several times
first, because you may have tried some of these ideas in the past with little or no
success. Keep in mind that there are several different strategies that you can
incorporate with each of the following ways to obtain new business. The trick is to
pick a dozen or so to focus on, and try different approaches and strategies for each
one. Perfect them, don't give up, and you will eventually find your niche and make a
lot of money.
1. Visit real estate offices consistently, with or without flyers. When you call on
these offices, be effective. Give them the impression that you are very serious
about your business and adding value to the people you are talking with.
Don't rely on flyers to grow your business for you. Flyers are only useful to let
Realtors know that you were there, or for announcing a new program that's
unique to you or your company. If you are using flyers as a crutch (to give
you a sense of security) to call on offices, do it!
2. Ask to talk at weekly meetings for real estate offices. When you do land a
meeting, be sure to prepare. Make them want to do business with you. Do
something different from everyone else. Make them laugh, make them better,
and make them want to do business with you.
3. Attend weekly real estate office meetings and bring goodies. Answer
questions, be available, and build relationships. Make your presence known
when you attend these meetings. Let them know (in your own way) that you
are there to do business and to add value to them.
4. Go to real estate events and parties. Make friends and build relationships at
the events. Caution! Don't drink too much. Your conduct must command
respect if you are attending these functions to grow your business.
5. Offer to sit in the real estate office on weekends with the Realtors to be
available for prequalifications, answering questions, and taking new loan
applications. This is an aggressive move and shows them that you mean
business and are willing to do whatever it takes to make it happen.
6. Attend real estate conferences and seminars. This is a great way to build
long-term relationships with prospective clients. Because of this environment,
your chances of "hitting it off" with others attending the seminar or
conference increase dramatically.
7. Join all local and national real estate related organizations such as your local
Board of Realtors, Association of Professional Mortgage Women (APMW), or
other appropriate group. The more places you put yourself in that give you an
opportunity to meet people who can give you business, the more business
you'll get. While getting involved in these organizations is good, nothing will
replace going up to a Realtor or builder or borrower and asking for business.
Asking for business point-blank will always work if you do it enough.
Remember that this is a numbers game.
8. Join local business related organizations such as the local Chamber of
Commerce, or Leads. Let people know who you are and what you do. Leads
groups are a great way to get instant referrals.
9. Start your own Leads group. Call your local Chamber of Commerce for
information on starting your own group.
10. Join builder associated groups such as National Association of Home Builders
(NAHB) and the local Building Industry Association (BIA). Your involvement in
these organizations must be consistent to get the most out of them.
Understand that it's difficult to be all things to all people. Narrow down what
you're going to commit to and get involved in.
11. Join local affiliated groups such as The Rental Housing Association and others
such as escrow and title company groups. These relationships are what I call
non-direct or affiliated relationships. They have some business potential but
don't devote too much time getting involved in everything they do.
12. Host an event for the local real estate professionals. You can get the local title
companies and others to help sponsor to keep the costs low. I conduct
seminars on peak performance and I always get a sponsor and invite the
Realtors. I have anywhere from 50 to 150 attend. They love it because my
focus is on helping them out. As a result, I get business.
13. Join and attend all Multiple Listing Service (MLS) and Board of Realtor
functions. If your business is Realtor-based, you must campaign for yourself.
Look at yourself as a politician. If people know you and you have a great
reputation, you will be in a position to get lots of votes...or loans in our case.
14. Be involved in a committee that serves through the Board of Realtors. This
will heighten your relationships with these Realtors. Don't join a committee
and be a wallflower.
15. Send a weekly flyer, newsletter, or other mailer to Realtors. Include small
mom-and-pop shops even if they have just one person. This is a must. There
is no excuse for not having and sending out a personalized professional
newsletter to clients and potential clients. So many great companies offer
your name, picture, and personal information on their pre-written newsletter.
All you have to do is pay the fee and they do all the work.
16. Check the newspaper for open houses. Call Realtors and do financing flyers
for them. They always appreciate this because again, you are helping them
out. It's easy to get them to say yes to open house flyers. If you get them to
say yes there, it will be easier to get them to say yes to giving you some
loans.
17. Stop by open houses on weekends. Bring goodies and be prepared to do
financing alternative flyers, pre-qualify borrowers and/or take a loan
application. This is the easiest way to expand your business. Realtors are
always approachable in this setting.
18. Stop by new subdivision model homes and build relationships with sales
agents. Do cost sheets on all of their models.
19. Offer to sit on their model home tract on a weekend to prequalify borrowers.
You can do this with builders or Realtors. But do not let them take advantage
of you. Make sure you're getting business from them if you are providing this
service.
20. Teach a class. Call an adult school or community college and offer to teach a
class on credit, appraisal, real estate, and/or mortgage finance. Being an
expert is not enough. The trick is to let everyone know that you are an
expert.
21. Attend real estate continuing education classes to renew your real estate
license. Don't do home study. This is a great place to meet and build
relationships with Realtors.
22. Conduct or sponsor seminars that help Realtors and/or builders increase
sales. One idea would be to interview the top 10 Realtors in your area. They
will love to do an interview because they all love to talk about their success.
Then offer to present the results of your interview to other real estate offices
to help them increase business. This also gets you in-the-door with the top
producers.
23. Conduct "New Homebuyer" seminars for the public. When done right, this
works great! You can get a sponsor or two to help make this more of a
success. Title and escrow companies, Realtors, and financial planners are
good contacts for sponsors. Use ads that catch attention such as: "Don't Buy
Your First Home Before Attending This Free Seminar!"
24. Conduct real estate finance seminars for Realtors and/or builders. This is a
great opportunity to show your stuff as an expert. There are always new
Realtors entering the business. This offers a tremendous need that you can
fill.
25. Take real estate and affiliated classes at your local adult school or community
college. This is a great way to build relationships with Realtors and potential
Realtors.
26. Attend self-improvement seminars. Many Realtors attend these on a regular
basis. Be a student of the game. Try to attend the ones that you know
Realtors will attend.
27. Call and/or visit FSBO's. Do a computer cost sheet and help them pre-qualify
the potential homebuyers who look at their home. You can also offer signs,
guest registers, and market analyses on their home. This is an easy sale
because they are also very concerned about qualified borrowers.
28. Consistently build off your past borrowers. Have a contact management list.
Send a mailer to all of the loans you've closed and keep in touch with them.
Ask for referrals! You're throwing business away if you don't keep in touch
with your existing clients.
29. Keep a journal or some kind of record on who has called on loan information
and check back with them within a week. Many loan officers talk to potential
borrowers, then throw the information away. Start a file for floor calls. Make
notes to call these people back as follow-up.
30. Keep a tickler file on leads. Never stop prospecting leads. If they said no
once, ask again and again and again.
31. Join outside organizations such as, clubs, singles groups, ski clubs, gym
memberships, and churches. Whatever your interest and beliefs are, make
sure you tell everyone what you do! Always keep your business cards with
you and ready to give out.
32. Take part in community events and remember to wear your name tag. Always
wear your name tag, even at the grocery store!
33. Have and work a booth at business and trade shows. Exposure! Make sure
that you follow up on all of the leads you receive at these shows.
34. Contact your local TV and radio stations and offer your expertise for news
specials and industry changes. I once took calls for one hour on a TV show
regarding refinancing and received a ton of business. Get to know your local
TV and radio personalities. Once you get in with them, they will continue to
contact you as an expert.
35. Put your cards and flyers on bulletin boards of businesses. Especially those
real estate related businesses like license training schools, and classes.
36. Hand walk all appraisal and status sheets to real estate agents or builders.
This is a great excuse to see them again. The more you see them, the better
the relationship you will have with them, and the more business you'll
receive.
37. After you close a loan, send a thank-you note to the borrowers and both
Realtors. Then call them to ask for referrals. Make it a point to call on them
personally as well. This is great timing. They will appreciate you for closing
the transaction.
38. Use "Promos" like pens, note pads, and coffee cups: anything that will help
you gain exposure. Keeping your name out there is critical.
39. Ask your manager for specific floor times to answer calls from new applicants.
If you're going to be in the office doing paperwork, make the most of this
time.
40. Send flyers and business cards to CPA's and financial planners in your area.
Many times, loan officers overlook these professionals. They can provide a lot
of steady business to you.
41. Send flyers and business cards to attorneys. Promote yourself and your
business. This also helps you separate yourself as an expert.
42. Build relationships with title representatives, escrow officers, sales managers,
and account representatives. These affiliated businesses and people can be
the key to many referrals.
43. Build relationships with other lenders who don't offer the same loan programs
that you offer. Trade business with them.
44. Build relationships with appraisers and trade business leads. You never know
where your next lead will come from. Make it a point to tell these people that
you want referrals. Always ask for the business!
45. Build relationships with termite company and trade business leads. Like #44,
always ask for new business!
46. Ask your dentist or doctor if you can leave business information on residential
home loans in their waiting rooms. Remember, you're a politician
campaigning for yourself.
47. Have a large plastic holder made with your picture and office information to
leave with various different model home tracts, builders, and Realtor offices.
These also work well at open houses.
48. Call on bank tellers and bank officers to trade business. Most banks don't
offer the same loan programs that you can offer. You'd be surprised how
many referrals you can get from this source.
49. Get a list of potential refinance customers from a title or escrow company.
These lists are usually free and you can team up with the title company to
grow your business. This is a must because it's an inexpensive way to reach
many customers.
50. Start a brainstorming group of professionals. This works best with affiliated
businesses. However, professionals from other industries work well.
51. Do joint advertising with top Realtors or builders. This is a great way to team
up to help each other expand and grow business. Make sure to monitor what
you invest to make sure you're getting a return on investment. To do this,
you must be getting a lot of business from your partner in advertising. Of
course, you don't want to alienate other Realtors who might not use you
because of your affiliation with your advertising partner.
52. Mail out quality letters to renters in apartment complexes where they are
paying high-end rent. Make sure rents are high enough so that borrower has
a chance at qualifying for the potential mortgage. Otherwise, you could be
wasting a lot of time sending information to individuals who may not qualify.
53. Put a flyer in a tax shop or a CPA's office regarding the use of income tax
refunds for a down payment on a home.
54. Target certain groups who would benefit from your loan programs such as
Public Employee Retirement System (PERS) or local bond loan programs.
55. Hold seminars and workshops for these groups such as PERS. Call employers
who qualify under this program as a benefit to their employees.
56. When you advertise, target your advertisement for promoting both you and
your company in addition to your loan products.
57. Offer gift certificates for a free appraisal, lower closing cost, or free credit
report for new borrowers. There are several advertising sources to place your
coupons, such as phone books, newspapers, and Realtor magazines.
58. Offer free credit counseling for people interested in homebuying. Free credit
counseling can be a big draw for new clients and referrals. Make sure you
give them accurate and professional advice. If they can't qualify for a home
now, let them know when they can and advise them accordingly.
59. Ask local city and county housing or planning departments for local
contractors that are active for rehabilitating homes. They will give you this
information by phone or by mailing you a list. These contractors are a great
source of referrals for first and second mortgages. Especially if you do a lot of
FHA 203K loans and the like.
60. Fax your loan approvals to everyone involved in the transaction. Flaunt your
stuff.
61. Have your picture put on your cards and flyers so that people know who you
are. It's exposure!
62. Talk to students during career week at the local schools. This separates you
as an expert and helps you gain exposure.
63. Send congratulation cards to parents of newborns. They can be found in the
newspaper. Many times, they are looking to move into bigger homes, or they
may know someone who is purchasing.
64. Prepare a cassette with information on the mortgage process, prequalification,
mortgage options, documentation, etc. Make sure all the real
estate offices, builders, CPA's and others have your tapes ready to give out.
65. Ask for referral letters from your borrowers, Realtors, and builders. Start a
notebook to show potential new clients proof that you do a great job.
66. Set up a hot-line for question and answers for pre-qualifying and other loan
questions. If you do set up a hot-line, make sure that you advertise well to let
people know it's available.
67. Improve your platform and public speaking skills by joining a speaking
organization such as Toastmasters. Always be looking for ways to improve
your image and presentation skills. The better you are, the more money you'll
make.
68. Hold an open house for your office and have food, drink, and music. Make
sure your office is presentable and professional. Have a drawing or giveaway.
69. Develop a tri-fold marketing brochure to hand out. These are easy to create
on the computer. If you're not computer literate, they are inexpensive to
have done.
70. Do a mass mailer to select groups. You must also make sure your mailer is
going to the right people.
71. Use a laptop computer to originate loans. Once you learn how to originate
loans on the laptop, show your clients, Realtors, and builders. Don't just show
them your new toy, show them what it will do for them.
72. If you have some computer skills, offer your services. Offer to do a tri-fold
flyer for one of your Realtors in exchange for their business. Get familiar with
the Internet as soon as possible!
73. Develop a website. This is a must. This is an inexpensive way to let many
people know who you are and what you do. You can get a basic website for as
little as $150. Get your website started and improve it as you go. You will
want to be included in as many search engines as possible.
74. Visit new model homes on the weekend. The key to builder business is
starting relationships with the builder's salespeople sitting on the new home
tracts. Look in the weekend newspaper for their locations. It's important to be
as familiar as possible with the particular builder you are calling on.
Consistently visit their site so that you can get to know the homes as well as
the people selling them.
75. Write out names of everyone you know. Most people know at least 250
people. Those 250 people know 250 people each. That's 62,500 people that
you are connected with right now. I promise you that out of all those people,
you will find new mortgage loans.
76. Advertise. It's impossible to advertise too much. Go to seminars and
workshops to learn as much as you can on how and when to advertise in
newspapers, real estate magazines, specialty magazines, billboards, radio,
TV, and any other place to get your name out there. Keep trying until you find
what works for you!
Have the belief that there are a thousand ways to grow your business. Find what
works for you! Commit and make it happen. Fate, destiny, or luck: whatever you call
it, hard work must come first. They say the hardest workers are the luckiest. No
matter what some speakers and trainers tell you, becoming a top performer comes
with many challenges. Just being smart and having a "cutting edge" strategy is not
enough. While it is great to have cutting edge strategies, the key is to work on and
perfect those strategies until you get the results you are looking for.
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