OK I have been doing this for a while and all my business its generated from referrals cold calling and advertisments. and Ive done really good. now I want to double my income,but to start I dont want to spend to much, and I want to train my jr loan officers on how to generate business without relaying on the phones. IM looking for new fresh Ideas.
2007-01-23 06:15:47 · 8 answers · asked by 4walls 2 in Business & Finance ➔ Renting & Real Estate
Scott if I do that my comission wont be as good. And Im really good with the phones I just need other ways.
2007-01-23 06:27:29 · update #1
oh and now that housing market is low what is the best weapon and benefi to get people to refi?
2007-01-23 06:34:38 · update #2
please explain the investment group idea whatevit...
2007-01-23 06:47:02 · update #3
Yes. Many. But better yet, let me help you tap ideas you might already have and just not know that you have...
As you know, Realtor leads are getting to be fewer and fewer as the business of selling homes becomes internet based. The under-30s don't go to agents to find a home the way the over-30s do. So the business model for LOs needs to change, too.
You need to target people that need mortgages directly as opposed to having the agents get them to buy their mortgages from you. Here's a leads generating exercise on this point. Have everyone write down what type of people need mortgages. Some answers are easy - someone purchasing a home, someone with lots of debt to consolidate. But let them keep going and they'll get more creative answers. (The best I've heard, someone who wants cosmetic dentistry.)
Then have them choose a couple of their answers and ask them how they would find those people. (In the answer above, by networking through dentists.) Then have them develop and work a marketing plan targeting that business.
Once they've reached the people, hold 30-minute informational seminars discussing how the mortgage can be used for that purpose. Hold them online and live.
Another example using this method - market to people with kids heading to college the idea that purchasing a home for the child is cheaper than paying for the dorm. How could you reach these people? Advertise in a school publication, or just ask someone you know who falls into this group how to reach the market. Hold a seminar on the "Kiddie-Condo" concept, and you can close many loans.
The key is to have each person work a concept they enjoy. There is no single right answer. What works for one person might not work for another. If you like helping people get in a first home, then that would be who you would target. But if you don't have that patience, then it would be a bad business move for you to head there.
Good luck!
2007-01-23 06:26:36 · answer #1 · answered by CJKatl 4 · 0⤊ 0⤋
I have been trying to get into this business, I would be glad to be your trainee. Just E-mail me:
You have a list of past clients, Mail a coupon to them to give to friends and associates. In the letter you tell them that their pass loan # should be written on the coupon and they will get ($25) whatever, if their contact apply for a loan through our service.
Or Mail to the same people the opportunity to be entered in a drawing one time for each person that an address is forwarded for a loan recommendation.
Or Invite all of your pass clients to be part of an investment group to fund a loan. $100 X 400 clients = $40,000 / This gets tongues wagging and develops business.
Would like the opportunity to move forward in this field.
2007-01-23 06:32:20 · answer #2 · answered by whatevit 5 · 0⤊ 0⤋
Join or start a 'lead generating breakfast / lunch group" of people. Every week each member [only one from a specific industry] would offer his/her info on new business for the other members.
It works quite well & you find out information before it hits the streets
2007-01-30 21:10:44 · answer #3 · answered by Jim W 4 · 0⤊ 0⤋
make flyers up telling about how good you are, what you can do, the type of rates you give how fast you can give results, 100% of the time ppeople work with loan officers than can give results in a timely manner,get into your car go to all the realtors office in your area sell your self the best way you know how, prove yourself with your first deal and that will get the ball rolling, brokers net work with each other they share information.
2007-01-28 23:05:10 · answer #4 · answered by jewbrod 4 · 0⤊ 0⤋
issues are demanding on the prompt, the finished market is useless. attempt an digital mail chain and do a touch chilly calling, telemarketing nonetheless works, have self belief it or no longer. Get the present financial ruin information and word who's out of their financial ruin 13 and would refinance now. good success.
2016-10-16 00:04:41 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Partner with RE agents, Financial Planners, CPA's, divorce attorneys, estate planners, trust attorneys.
All these are good sources for business.
2007-01-23 06:26:09 · answer #6 · answered by loanman46 2 · 0⤊ 0⤋
work for a direct lender who supplies you with a ton of fresh leads and millions of dollars in advertising, its worked for me!
and to be a sucessful sales person in this industry the phone needs to be your biggest tool
2007-01-23 06:19:55 · answer #7 · answered by Scott K 2 · 0⤊ 0⤋
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2007-01-23 06:30:42 · answer #8 · answered by flavorlicious 2 · 0⤊ 1⤋