Who Says Crime Doesn't Pay?

By
Mortgage and Lending with Southwest Funding

Use Identity Theft To Grow Your Business

 79 seconds, a thief steals someone's identity, opens accounts in the victim's name and goes on a buying spree.
- CBSNews.com

The Federal Trade Commission claims that identity theft is the fastest growing crime in the country. According to the FBI, financial institutions reported that incidents in mortgage fraud have increased by more than 200% in the last two years, and losses have skyrocketed by more than 350%.

In a market that is challenged with fraud and identity theft did you know you can help protect your clients while also differentiating yourself from your competition? Today's tip is to present an identity theft solution to new clients for added credibility and repeat business. Have you ever thought of pre-paying 12-months of credit monitoring service for your client after closing? This innovative approach will not only protect your client, but in turn gain you referral business.

In your initial presentation to your new clients, teach them about the concerns for identity theft. Tell them how you'd like to help protect them. Mention the safeguards that your company takes to protect client's information through the process. You should tell each new client how you encounter identity theft on a regular basis as you review the credit reports. Explain that you first hand see the aggravation and grief caused by identity theft.

By taking a step beyond the average loan officer and actually investing into your clients, your value-added services will gain you credibility and quickly distinguish you in your market.

There are several companies who offer credit monitoring services for as little as $10 per month. Here are a few links to credit monitoring services you may want to check out:

http://creditguardcoach.com/index.php?step=Home

http://www.identityguard.com/se/landing_se_fam.asp

http://www.truecredit.com/

http://www.mycreditkeeper.com


You could even consider hosting identity theft classes and bringing in experts on the subject. Market the free classes to your Realtor database and past clients, while inviting their friends and family to come along. You could create a great opportunity to capture potential clients for the future, while distinguishing yourself among your Realtor base.

DFW Loan Officer 

Jeff Schraeder

Imperial Mortgage

 

Comments (2)

Ricardo Bueno
Diverse Solutions - Los Angeles, CA
That's a unique closing gift.
Jun 07, 2007 08:33 AM
Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker-Owner,CRS,GRI,SRES, Brea,CA, Orange Co

Jeff,

Great idea. I also love the idea of hosting a session like this. I'll look into it, thanks!

Jun 07, 2007 08:40 AM