For many people, living a debt-free life is just a dream. There's no chance that they will be able to reach such a place. The problem with this idea is that it is a failure to understand what it takes to attain a debt-free life. Often, it comes down to a lack of sound strategies for addressing the problem and achieving results. So many Americans are under tremendous debt loads, living literally from paycheck to paycheck. It seems like nothing...more
Online banking is a fairly established practice in our internet-saturated world. Many people are making use of the unique and convenient options that online banking services provide. Yet, if you are a bit behind the times, but still considering the idea of upgrading your current banking practices, internet banking may be the right move. But what if you don't know a thing about online banking? Perhaps, you've thought about being hooked up to a...more
We all know that referrals are considered the "holy grail" of the mortgage business. They're an easy sell, and customers are less likely to shop around. But, the reason why most loan originators don't get a lot of referrals is that they don't know how to cultivate them. It takes time and an ongoing commitment to building relationships.If you're just starting out or don't have a large base of past customers to draw from, consider joining a business networking group. They're a great place to mingle with business professionals from other industries, especially if you work from home. And, everyone is there for one reasonto help each other generate referrals. It's a win-win situation!Keep in mind that most business groups have strict rules on attendance and meet early (usually between 7-8:00AM) before the day has started. And usually only one person from each profession is allowed to join the group. Unfortunately, there's only one loan officer position, and I must tell you that these spots go fast and are rarely given up! Ouch! With 30+ people giving you business on an ongoing basis, you can see how powerful this can be!Here are some business networking organizations to...more
The following story was shared with me recently, it's been circulating around the net for years and I now share it with you.In the United States of America lies a large industrial city which is the sight of one of the world's largest slave labor camps.Located in and around the center of this city are community settlements where the economic slaves...more
No matter how successful you are, or how many loans you have closed, you should expect hiccups. No loan every goes as smoothly as you think it will. And with all the third parties involved on any one transaction, you can and WILL have problems.Here are some of the most common "hiccups". I thought of about the top 30 I have been hit with. By the...more
Being a salesperson is never easy. To sell effectively, you must to be willing to do things that challenge you. No top producer has ever reached the upper ranks without first moving outside their comfort zone. Someone recently sent me this poem and I wanted to share it with you. I hope it inspires you to keep challenging yourself and be willing to do whatever it takes to succeed.No one ever said that sales was easy, but a little bit of inspiration never hurt either!From one friend to another, here is the poem Comfort Zone (Author Unknown) I use to have a Comfort Zone Where I knew I couldn't fail The same four walls of busy work Were really more like jail. I longed so much to do the things I'd never done before, But I stayed inside my Comfort Zone And paced the same old floor I said it didn't matter, That I wasn't doing much I said I didn't care for things Like diamonds, furs and such I claimed to be so busy With the things inside my zone, But deep inside I longed for Something special of my own. I couldn't let my life go by, Just watching others win. I held my breath and stepped outside And let the change begin. I took a step and with new strength I'd never felt before, I...more
In my last article, I covered the two main ways to start your own mortgage company. One way, was to go it completely alone apply for your own broker's license, set-up all the relationships with the various lenders, handle all the back office stuff...more
I got a call from a loan officer in Lansing, Michigan recently and he called to tell me that he was an avid reader of my newsletter but was giving-up and throwing in the towel. He said he was burnt-out, tired of chasing realtors, and dealing with...more
A couple of weeks ago, I mentioned the idea of approaching "for sale" properties (both FSBO and MLS listed ones) as a lead generation strategy. Here is a quick excerpt from the article entitled "Double Dipping Just Like The Real Estate Agents...more
How many times have you answered the phone and heard "What's your rate?" from a customer? I guarantee it comes-up on every phone call, usually within the first 30 seconds of the conversation. Customers ask it because they don't know any better. To...more
You have three choices you have in getting your mortgage site up and running. To recap, they are:1. Go it alone and design it yourself.2. Hire a web design firm to custom build a mortgage site for you.3. Use a ready-made instant website from a...more
Let your customers know that the best compliment they can give you is a referral.Here is a sample follow-up letter (I pulled out of my personal files) you can use with customers who have recently closed a loan with you. You'll see that it...more