Mortgage Marketing Animals Issue 1

THE LOAN OFFICERS’ INNER CIRCLE

MEMBERS ONLY EXCLUSIVE NEWSLETTER

LEADING LOAN OFFIC RS TO FREEDOM

ISSUE 1

THE 4-PART FORMULA YOU’RE MISSING OUT ON FINISH YOUR FIRST BRIDGE, THEN MOVE TO THE SECOND

“Half-built bridges” is a term I like to use when people jump from one project to the next without finishing the previous one. For example, let’s say you just found out about Facebook marketing and decide you want to get started with that. You get signed up and are really getting into the process,maybe 80 percent done with it,when you see there’s a new LinkedIn ad.You immediately jump into this second project, leaving the first incomplete,

about your history and the things you’ve achieved up to this point and rationalize if it’s a strategy you are likely to complete.An excellent method to approach this step is to start out with a simple project and then move on to somethingmore complex. If I start a project and realize that I’m not going to complete it on my own, I may need someone to helpme get through each step. The third step is “Can I delegate it?” In other words, once I’ve made my first dollar, once I’ve completed it and have it up and going, is this something I can delegate to somebody else? I’m getting closings and money to hire somebody to help me so that I can delegate this out. I’m receiving the benefits from this strategy, and someone else is doing the work. I get it up and going,make it sound, and make it better, and then I can depute it. If I’m unable to delegate it, I’ve just created myself a job, and I don’t want to do that, and neither do you.We’re looking to build a business, not a job. Finally, the fourth step of the formula is “Does it look like fun?” In other words,will you enjoy working through this strategy? Let’s face it: People like doing what they like doing. If you don’t enjoy something— if it’s more of a chore for you—you’re not going to want to go through with the project. If I’m not fond of a project, I end up sabotaging it because I want to deal with it as little as possible.Go with a strategy that you’ll enjoy, and you’ll find the project as a whole will run much smoother. I tend to keep a little spiral notebook in the front left pocket of my jacket,where I keep a list of good ideas I hear. I write themdown so I don’t drop the original project that I’mworking on at that moment. I make sure that I finish bridge No. 1, then I look in my notebook and start working on bridge No.2 and work throughmy four-part formula all over again.The positive effect of this strategy is that once I finish a project I’mworking on, I get the feeling of victory in my head and have money in my pocket.

and while you’re researching this new ad, you learn about a new marketing technique fromYouTube.You hop from one stretch to the next and never finish the first one, and that leads to problems. When you never finish a project, you won’t get the results you want.You might be 3–4months down the line and think, “Geez, none of this works. I’ve tried everything, and none of it works.” That’s because you never finished anything you started.The real secret to success is to focus on one bridge at a time and not to leave your bridges half-built. What’s a strategy to fight against this? I have a four-part formula that I use so I’m not starting a bunch of projects all at once.The first thing that I do is look at all of the strategies available and decide which one is going to make me the first dollar or the first closing, not which one is going to make me the most closings or the most dollars. I choose the one that’s going to give me the first one the fastest.The reason why this is important is that once we have income coming in and we can start hiring assistants to help us out, it changes everything.Things will become much easier once you get some money in your pocket. The second step in this formula is “How likely am I to complete this strategy?” This one takes brutal honesty.You have to think

Carl White

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TYLER OSBY SHARES HIS WISDOM MEMBER SPOTLIGHTS

ON HOW TO USE GOOGLE

Tyler Osby shares his knowledge of why it’s important to use Google. One of the most essential things you can do in marketing is to list your business on Google. Let’s face it — if someone is looking for a mortgage company, they’ll start there. Let’s go back 10 years. It was once essential to be listed in the phonebook if you wanted to have any success in your profession.

and have access to your positive reviews. This strategy will give you an advantage over your competitors. Your first step should be to claim a location. To do this, Google will ask that you submit the address of your business to verify that you have an address. This is what they call the “Postcard Dance” — a little strange, I know. They only want to ensure that your business is legitimate. It’s all part of the listing of your business, and when you enter the pin they give you, your company name, hours of operation, and location will be at potential clients’ fingertips. There are many benefits to being listed on Google. You get organic findability and proof that you are an excellent business. You can also run ads through Google, which will help your company be more findable. With these ads, you can drive your name to be featured in the top results that come up when a person first Googles for a mortgaging company in your area. Every month, I’ll share a quick tip you can employ to build your business. With next month’s article, I’ll go over the steps needed to get great reviews and why reviews are so important. Stay tuned!

Today, no one looks at a phonebook, and many people don’t even have one. The current phonebook is Google, and the approach is very similar. Much like you would provide the phonebook company your information to list you, today, you need to do the same for Google. What I recommend people do is to claim their position in Google; that way, when someone is searching for a mortgage company in your area, your name is likely to come up. You’re in a better position to get reviews as well. When you have as solid and consistent position on Google, searchers can view all the information about your company

PERSISTENCE PAYS

CHUCK WALDEN – SENIOR BRANCH MANAGER

Chuck Walden, Freedom Club Member and Coach, shares his story of how he followed up with a potential partner for 40-plus weeks before he won them over. Once upon a time, there was a real estate agent who I met, and she told me we would definitely do business together. So, as Jim Carrey would say, “So, you’re telling me there’s a chance.”

persistence, so, I kept calling her. Right when I was about to give up on her, I sent her a video, letting her know how many weeks I had called, and how disappointed I was that we hadn’t talked or connected in over two years and reminding her that I had called 117 Mondays in a row. Low and behold, she called me! I’m now seeing a steady stream of referrals and I’m looking forward to seeing where our relationship goes. Carl White tells you to follow up with someone for 12 weeks, but I’m telling you that that’s a minimum, not a maximum. Every time I get an agent to refer, that agent is worth $25,000 a year, so, yes, everyone is worthy of a longtail follow-up. Bottom line — do the things you are supposed to do consistently and be persistent. I’m living proof that it works.

Obviously, she was put on my Monday call list, and after 12 weeks of calling, she had gone silent.Well, I’m a big fan of

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‘I’M ALREADY PREAPPROVED’ SCRIPTS WITH SCOTT

The following script was first developed by one of our coaches, Michael Mann, and recently posted by Pinky Shah (Freedom Member), and she enjoyed great success with it. “I’m already preapproved …” “Hey, that’s great that you’ve taken the first step. Congratulations! My job as a Realtor is to look out for your best interest as the buyer and as the client. You see, you as a buyer have the right to choose whomever you want for a mortgage. However, over the past few years, the mortgage industry has changed drastically. I’ve had some really horrible settlements with lenders I don’t know. (Give an example here.) “I felt horrible for my clients because I couldn’t control the transaction. I couldn’t pick up the phone, and I couldn’t tell the loan officer to get this done because these clients need a place to live. I felt really bad for them. You can choose whomever you would like for your mortgage. However, I’d like you to talk to [insert LO name] mortgage team, because I have direct access to them and do a lot of business with [insert LO name] team. She’s never left my clients or me at the closing table. She guarantees that she closes on time. In fact, we often have a clear to close way in advance, and she typically sends the wire a day in advance. No other lender in the area does that. She is very prompt and proactive in updating you. “That’s why I work with [insert LO name]. I urge you to have a conversation with her team. If you don’t work with [insert LO name] and her team and you choose to work with [other lender], quite frankly, you’re going to be on your own when it comes to getting a mortgage. I couldn’t help that family I mentioned to you. There was nothing I could do, and I felt helpless. Do you want me to have [insert LO name] team give you a call and at least have a conversation with her? “[Insert LO name] lives here in our community and has a great reputation to protect. If something goes wrong, there’s someone to be held accountable. If you’re working with someone out of Indiana, they don’t care. It doesn’t matter to them. This gal is vested in the community. She’s right here. I can call her up and say, ‘Hey, you better get this done or you’re not getting any more of my business.’ Quite frankly, I have a little bit of control over [insert LO name] and the mortgage team.”

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WHAT DOES A DSP MANAGER DO?

Kristen is one of our Freedom Club coaches. As part of our teaching, we advocate for our members to hire a DSP (daily success partner) as part of their business growth plan.We are often asked what a DSP manager’s responsibilities are. Below, Kristen describes what those responsibilities entail.

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