Mortgage broker needing help

Mortgage and Lending with A1A Mortgage, LLC


I am brand new to this community and I need some advice. I have my broker's license in Florida but I need some assistance in markerting and getting some leads in. I have mailed flyers, called quite a few realtors that I did business with personally. I have business cards placed in gas stations, etc. I am not getting any bites. Any advise?




Comments (25)

David Boone
A1A Mortgage, LLC - Jacksonville Beach, FL


thanks for the link! There are a lot of things you listed, I am going to give a try.

May 27, 2007 07:36 AM
Joe Long
Waterstone Mortgage - Madison, WI
Purchase Perfect

Join several networking groups and become active in your local chambers!  Always measure your ROI!

Get your "voice" ot there, I would be surprised if you get a call off of a business card or flyers, ROI on that is usually about .5-1%.  Also, be careful when giving marketing materials to Realtors, all advertising must have the cost shared or you are in Violation of Respa laws.  Good luck on your business venture!

May 27, 2007 07:49 AM
Jacob Morales - Arizona Mortgage Planner
US Bank - Scottsdale, AZ
I would love to be able to give you some solid advice about starting off there David. Feel free to email me anytime. Good luck and I look forward to talking to you soon. 
May 27, 2007 10:25 AM
Beth Bastian
Rosemont Financial Inc - Simi Valley, CA
Simi Valley Real Estate
There are so many way to get business.  I did a blog on this click here. 
May 27, 2007 01:12 PM
Nima Rezvan CT Lender CT Senior Mortgage Broker
Nima Rezvan Prosper First Funding Corporation NMLS#110681 - Fairfield, CT
First Time Home Buyer Expert - CT FHA Loans - FHA

David Boone, find a niche where you can target your audience as well.  For example, I am in Tau Kappa Epsilon Fraternity and I have made myself known to 275,000+ TKE brothers that I am the self proclaimed "Mortgage Man".  I was born in Tehran, Iran and I try to attack some of the small Iranian community here locally in Connecticut.  Most of my business comes from Iranian realtors and the small Iranian community knows who I am and what I do for a living.  The TKE's internationally and locally definitely know what I do for a living as well.  Find a niche and pound it hard.  Remember, if you buy a list of 1,000 names and mail out to them and you get no calls or just one call that doesn't turn into a deal for you, don't get discouranged.  I was in the corporate marketing world and I want you to know that it takes time to grow a great business.  If you like doing Direct Mail Marketing then do it over and over again.  Find a cheap way to do it and do it well.  I wish you the best in this slow market but even in a slow market, the heavy hitters are closing 10-20 million a month, so they must be doing something right.  I am not one of those guys yet but some day, I definitely will be one of those guys/gals.  Happy memorial day weekend!

Your Active Rain Mortgage Man,

Nima Rezvan

May 27, 2007 02:30 PM
David Boone
A1A Mortgage, LLC - Jacksonville Beach, FL

Thank you all for your tips and advise. These are great pointers for a newbie like me.

There is one issue i would REALLY appreciate advise on. I know in this slow market, all the brokers and loan officers are out beating down realtors doors, bringing donuts, etc. Do you have any advise on how to stand out from the pack. what is a key element realtors, title agents etc. will remember. I feel like now, I am not standing out in the crowd. I have invested in some of the business card magnets, and from a previous tip, I am having a few card laminated. What else can I do, other than making myself present as much as possible, can I do to be remembered after the donuts are gone. :)

May 27, 2007 05:47 PM
Todd Clark
eXp Realty LLC - Tigard, OR
Principle Broker Oregon

I work with many mortgage brokers and I help them ALL! I do a lot of owner financing and lease-option. If you find an agent that works this angle, you can become rich! What happens is if you have a person that calls you and doesn't qualify for traditional financing you in the past lost this client. But, if you get them into a lease-option or owner financing situation, you can work with them for the next two years fixing their credit and they will then refi with you and give you referrals for those 2 years.

So a lead that you used to throw out is now a profit center!

May 27, 2007 05:53 PM
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

David.... pick out and focus on one realtor from that office. Don't target that whole office. Get one to work with you and then have that person spread your name. Find someone that you have things in common.... there is more to it than this. But drop the donuts at the door. If you get 2 to 3 people that are interested, might throw some business your way, have a pizza party then. Spend $40 to $50 on pizzas for the whole office though, depending on the size.

Get to know your competition in that office. Who uses who and why. Possibly go after a few very new and grean realtors, 6 months or less in the business. I just picked up one barely a year in the business.

Show them Active Rain on the computer. How it works. How to network online with not only realtors, but on the net. I am setting up a few blog sites. Get them involved. Maybe link each other to each others sites.  But promote AR and show them how they search between 4 and 6 in Google. 

But before showing them this, tell them all about it except the name and ask them to lunch to show them how. That's how I just got that one barely a year in the business. And part of it was because she knows the importance of the net.

                                                                                                   jeff belonger

May 28, 2007 12:07 AM
Michelle Spalding
Transaction Management Consultants - Waco, TX
Time and Money Saving Solutions for Savvy Realtors
David - I suggest that you make a list or a profile of your ideal client.  Not every buyer or Realtor is a good fit.  Once you'd narrowed that down and you can visualize your client, then you'll know what to find .  Your time and marketing dollars are far better spent on a defined group than trying to reach everyone.  Good luck :-)
May 28, 2007 12:29 AM
Steven Shewell
Primary Residential Mortgage, Inc. - Ephrata, PA
The Mortgage Maverick

Start with contacting everyone you know and letting them know of your business.  Stay in touch with them on a regular basis so that when they are ready to move you will be in a position to help them.

As to Realtors, schedule a meeting and find out what they NEED do that you can decide if you can provide it for them.

May 28, 2007 04:05 AM
David A. Podgursky PA
THE PODGURSKY GROUP @ Re/Max Direct - Boynton Beach, FL
THE PODGURSKY GROUP - Make the Right Move!

David... a really good start is to ditch the link to your company website... you're not on the staff directory anyway so you're basically attracting people to your coworkers

you don't WORK for them - you have to get it into your head that you WORK for YOU and YOU ALONE

sending postcards is a waste of effort you need to make contact - if you're new it is important to be face to face asap

all your efforts need to be put towards SETTING THE APPOINTMENT

Check out Brian Brady's blog and Vyvyan Du - his new LO apprentice

this is NOT an easy business... you can't count on people's leads

I'm actually curious as to your split vs what you're getting from your company.

too many people get into lending wanting a huge split when they should be getting a far smaller one but having good support, structure and training... then leads ... while you generate your own you could get a few to practive on even if they're garbage...

the huge split doesn't even usually work for top producers! 

May 28, 2007 04:58 AM
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

David Podgursky makes a great point. Don't brand your company, brand yourself.

And the split vs structure is a huge one also. SO true in what he said. I had a semi argument with a previous loan officer that I had hired...the next day, they start wanting more money because two other companies were now going to give him more money. I talked about support and structure... they had no answers to those questions. My opinion... sad...

                                                                                                          jeff belonger

May 28, 2007 07:05 AM
David Boone
A1A Mortgage, LLC - Jacksonville Beach, FL

wow! You are absolutely right. I have removed the link to the company website.

As for the split, it is 70/30 for the leads I bring in and 50/50 for company provided. The shop does have warm transfers but most are usually shopping and not ready to commit. There are also a few days a week (kind of random- no set days) I am unable to go into the shop- due to caring for my daughter.  As luck would have it- those seem to be the times they get the good calls coming in. The managing partner in the shop is great and is training me as I go- but I feel I would be more confident with the training before hand. He is a train by fire type of person. What are your opinions of having the shop number on my cards- should I leave it and the website or do I only put my cell?

May 28, 2007 12:37 PM
eric manthey
Vid2r - Denver, CO


I was in the mortgage industry for a few years back in the late 90's, and i worked in a  shop where the leads were all AD calls coming in. I too used to think they were "shopping" , and not ready to "commit" until I started treating every lead as if it were my own, and we'de already spoken. If they are calling you, they are ready, but they didn't commit to you because they were not given enough reason to. Trust me, even if you had the best rates, once they get off the phone with you, they are gone for good.  You have to give every client a WARM FUZZY feeling and show them you aren't just another guy willing to quote rates. Hold out on quoting a rate as long as possible. Treat every call as if they are calling you and ready NOW,TODAY, RIGHT AT THAT MOMENT!!  Explain to them that the mortgage industry is not about rates, and calling to see what they are at any given moment, because you know a lot better then they do that is COMPLETELY NOT THE CASE. Spend time with them, comfort them, find out what they are refinancing for, or if it's a purchase, find out more about the home they plan to buy, ask them if they found one, ask them if they have a realtor yet. Show them you are the professional and much more qualified to be doing their loan then the guy they called right before you. This is also a perfect way for you to make a relationship with a realtor(when you bring them deals, all of a sudden they think you are GOLDEN).

It isn't even about being aggressive like a used car sales person, just be the professional. After-all, if you call a Lawyer, does he just tell you a rat without finding out about you and what your needs are ?

May 28, 2007 02:49 PM
David Lawson - NMLS #252510
Gateway Funding - Yucaipa, CA

Keep being consistent and persistant. Get a relationship with the agents and they will start to use you.


May 28, 2007 04:22 PM
David A. Podgursky PA
THE PODGURSKY GROUP @ Re/Max Direct - Boynton Beach, FL
THE PODGURSKY GROUP - Make the Right Move!

David - your job isn't to cherry pick leads... it is to get appointments.  Those "great leads" that come in on those days may never close!

as far as training - is there a manual? how are you held accountable for your progress?

there are lots of reasons you should demand training...but most of real estate IS trial by fire. 

the days you're with your daughters should still be productive outside the office.  I know this is hard... I worked out of the house while my wife was recovering from a C-section with our son and I was on call for her constantly...

just remember - in this type of business - when you lose 1 week of productivity it could mean 1 month of no pay!

May 29, 2007 03:06 AM
David Boone
A1A Mortgage, LLC - Jacksonville Beach, FL
Thank you for all the assistance! I will be calling to set up appointment. As for days I have my daughter,
I will spend those days calling attempting to set appointments. I will not go the gimmicky route, I will talk to the realtors and honestly see what their needs are compared to what I can provide. Hopefully, I will find a few realtors, where our needs match. I did get a lead in from a hard money lending looking to refi some of his personal loans and refer a few clients. I thank each of you for all your wonderful tips. Keep them coming!  
Jun 01, 2007 02:22 PM
Galel Fajardo
Costa Mesa, CA


What is your Unique Selling Proposition? Why should a Realtor send you their business? What do you have to offer that is different than someone else?

As you know, this is a relationship business. Have you tried getting to know agents on a personal level first? Try to put their needs before yours - and it looks like you're on your way there. You said: "I will not go the gimmicky route, I will talk to the realtors and honestly see what their needs are compared to what I can provide. Hopefully, I will find a few realtors, where our needs match." Instead of seeing if your needs match - ask how you can assist them.

What are their struggles? What are your struggles? Can you collaborate on anything?

The first step is to figure out what makes you unique. After that, I can add some more bits of advice.

Good luck,and keep your head up! Don't get discouraged!

Galel Fajardo


Coast Mortgage Group 

Jun 02, 2007 06:16 AM
David Boone
A1A Mortgage, LLC - Jacksonville Beach, FL

I have an update for you all. Everyone has given me such great advise, and the question David Podgursky posed really made me think. to quote "as far as training - is there a manual? how are you held accountable for your progress?" There was NO training manual, really no resources for me to guide me, other than calling the AE's to all of our lending and asking. This question stuck with me. The shop is VERY non-chalant and laid back- which is not a bad thing. For me, however, being so new, I would feel more comfortable with a little more guidance through my first couple loans. I am currently working a deal and am getting NO assistance. I have talked to a few other brokers in town, and have decided to go on board with a different shop. This week I will retrieve my license and hang it somewhere that will help me obtain the knowledge to succeed. The shop I am moving to- seems the exact opposite- cheat sheets, checklists, a guide to understand what lenders will do what. I REALLLY thank you all for all of your advise.

I honestly feel, if I am comfortable with what I am saying to realtors and clients, it will show.

I really can't thank you all enough.

Jun 09, 2007 05:16 PM
Mike Jewett
JaxHomeSpy, LLC - Jacksonville, FL
David- welcome aboard! Are you working for a company or self-employed? Do you have an online presence? This is of course invaluable. Obvious things I can think of are phone book listings, joining local organizations (NEFAR for one), and doing presentations at real estate offices. I hope you get some good business soon, and look forward to your future posts!
Jul 24, 2007 12:17 PM