Many analysts are forecasting very dark forecasts for 2006 loan representatives and real estate agencies.
What will you go to when the interest rate rises and the real estate market declines?
If you follow my seven strategies, I can spend a wonderful year 2006!
1. Goals and plan. Although this is obvious, I say that 95% of lawyers are not writing goals and are trying to achieve that goal. This one step is the most important step in this field. How do you think will succeed if you do not know where to go and where to go?
Take the paper and write on it "I will earn $ XXX, XXX as a commission for the next 12 months".
Next, I will decompose that number into months. Next, divide the average monthly commission amount for each transaction. This indicates how many transactions you need to aim for in the month.
The next part is to enumerate at least 10 actions that will help you reach that number and you will do this monthly. By taking the first step in this goal setting and action plan, you will be able to advance 95% of other loan representatives.
2. Effectively use technology. The true power of technology is the ability to automate business and you can concentrate on other business building activities.
Do you know what an auto response is? It is a simple e-mail program managed by a third party company like GetResponse (www.Get-Response.com) and responds automatically with arbitrary messages each time an e-mail is sent.
It is one of the methods you can use to automatically acquire more leads. Place a classified advertisement in the newspaper advertising a free report called "7 mistakes made by home buyers when you pick a lender." Prospective customers send empty mail to freereport@abcmortgage.com.
Here is where the magic happens. When the prospect sends an e-mail, the report is sent automatically by automatic response. After that, you can set up an auto response to send a series of follow-up e-mails after 1 day, 5 days, 2 weeks, badly, 1 year later.
This happens automatically, even if you receive two answers or two thousand answers.
In automatic response, we will automatically contact you and keep you fresh in your mind. Because the cost of the autoresponder service is cheap, it is a real wonder to me why more loan officers will not use them.
With autoresponders, there are websites, automatic greeting card mailing, 1-800 hotline, virtual tour, business card CD-Roms etc.
Maximize database possibilities. It is amazing to me how much time an average loan officer spends getting a new business and how much attention is paid to his database of past customers.
Most of them are unaware that the past customer database is their goose laying golden eggs. It has been proved many times that it takes more time, effort and cost to get a business from a new perspective than getting a business from a previous customer.
A successful loan officer recognizes the database as an asset. Certainly, they are actively marketing to find new prospects, but they are spending time on an average loan officer database.
Using quality contact management software like Act! (Www.Act.com) can make you feel free to care about your database.
4. Create two new referrals every month. Loan officers are enjoying the amount of refinancing work in recent years. However, as we are steadily rising, we are focusing on acquisitions and new construction projects.
All you need to do is find two high-quality referrers in a month. At the end of the twelve months, there are 24 referrals, which should provide a decent amount of new business leads.
The best referrals I found for lawyers are: Real Estate Agents, Contractors and Contractors, Lawyers, Financial Planners, Insurance Agents, Human Resources Managers.
Every month, we survey and select 10 potential referrals. Send letters of introduction to each person and let you know that you can call up follow-up. No matter what you do, do not ask for reference. yet.
Please tell him that you are looking for an expert to send you your introduction.
If you do all this out of the original 10 potential references, you should end with 2-4. I repeat this process every month, so that the business from these referrals will stabilize.
5. Run three direct mail marketing campaigns. With the emergence of e-mails and websites, the number of home loan experts has decreased, and the types of e-mail campaigns are also decreasing. I encourage you to do three campaigns, two focusing on previous customers and one working on agriculture for new prospects.
You need to connect to the database throughout the year, but these two email campaigns need to focus directly when asking for new business.
Previous customer campaigns usually consist of letters that appreciate past support and ask them to help them grow their business with referrals.
Sometimes, the survey or introduction form and self-reporting prepaid return envelope are included. As a normal incentive, we will offer gift certificates as words of appreciation.
The response rate is higher than usual, leading to lead and immediate business.
I called the third letter "Agriculture for New Perspectives." I do not mean a geographical farm where most sales representatives direct marketing campaigns.
You can purchase a mailing list of any type of potential customers you want. Your ideal customer is between 35 and 50 years of age, annual income exceeds 100,000 dollars, has less than 70% loan in current residence, 675.
Do you know that there are mailing companies that can get a list of names and addresses that meet ideal customer standards? That is incredible.
This allows you to tailor your e-mail to accurate prospects. An average business letter will reach him so you can relate to him at the defect level.
6. Start or join the business network. A business network is a group of experts in an industry that is related but highly competitive, regularly meeting and exchanging ideas and introductions. The most famous business network organization in the world is Business Network International (www.BNI.com).
So I recommend you to locate the BNI regional chapter in your city and launch a business network group yourself.
Most groups include realtors, insurance agencies, loan officials, financial planners, lawyers, domestic inspectors, appraisers, and so on.
This group is an ideal environment for sharing ideas and leads for crossovering needs and services.
For example, a couple is coming to talk with a financial planner. Their youngest children just got out of the house, they sold their homes and are about to move to a small apartment.
In the next business network meeting, financial planners are gathering customers. Situation. As a result of this, you will get real estate brokers (to help you buy condoms by selling your home), loan officials (those who can help finance condo purchase), home supervisor, appraiser.
All of these are from this couple. Can you see the power to be involved in the business network group?
7. We will advertise once a year. Local newspapers, radio, television stations love reporting about what I call "felt good" news stories.
As a loan officer, you have luck to help people who need it every day. And if you are exposed to the media, you can get temporary fame right away. This will instantly improve your business.
It is difficult to find a way for local media to notice it and report it, but possibilities will stand out. There are a couple of things you can do, such as Habitat for Humanity volunteers, people who can not speak English, bringing out free pumpkins at Halloween, giving free turkey at Thanksgiving, dinner with blessed homelessness .
Please be sure to tell all media outlets in your area, as scheduled to attend before the event.
Whatever happens to the market, you can confidently predict success by following the seven strategies I presented.
After all, even if industry analysts in the dark and fate are in line with forecasts, you can fully control the amount of business you can generate.
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