Archive for December, 2009
A Reality Check for Loan Officers!
Posted by: | CommentsI credit Chad Weber with the following piece that changed my entire reality about how I conduct my business….
NOTE: This article is very direct, and pulls no punches! If you are serious about making a change for the better, you should read the entire article now!
In today’s article we’re going to deal with cold hard facts and nothing else. No opinions, no fluff, and no candy coating the truth or pulling punches! This article is going to give you a close look at the reality of your current situation. Then let’s get started!
With picky underwriters and lenders putting every loan underneath the microscope, it seems almost as if you’re rolling the dice as to whether a loan (Even those with 720+ scores and good appraisals) will be approved or not. When you face a situation such as this, there are 3 things you can do:
1 – Generate more prospects (Of a higher quality)
2 – Close higher dollar loans
3 – Complain about the market (And remain stressed, broke, and angry)
Which would you rather do? If you’re serious about remaining in this business, then you must choose now between closing a higher volume of loans, higher dollar loans, or do nothing? Do you have a preference?
The business of sales is not rocket science. While the process of sales and marketing may be difficult at times, there are only a certain number of challenges you will face, and a finite number of mistakes that can be made. (Often, it’s the same challenges over and over again right?) If you feel as if you’ve tried everything, and absolutely nothing seems to be working for you, then the problem is not with the market, and it’s not with the customers… The problem is most likely with your marketing/sales process. (This can be a bitter pill to swallow – But take heart in the fact that there is a solution!)
It’s that small and elusive 10% that is missing and wreaking all sorts of havoc with your paycheck. Let’s see if we can help you to identify the culprit by reviewing a series of essential elements that absolutely MUST be present within your current marketing plan and sales process. (No exceptions or excuses allowed here. If even one of the following elements is missing, then you are slowing down your ability to close more loans)
Here’s what you need:
- Drip email
- Automated marketing elements (Auto-responder, web forms, etc.)
- Network of referral sources (Realtors for example)
- A minimum of 2 self-generated sources of leads (Not purchased leads, but self-generated)
- A database/lead management/CRM
- A way to establish credibility and differentiate
- A call to action you can add to your marketing
Now let’s see what you’re giving up if any of these elements are missing:
Drip Email
More leads are lost through lack of consistent follow-up than any other reason. If you do not have a drip email campaign in place for your database, past clients, current clients, realtors, FSBO, and any other niche you may be marketing to, then you’re leaving money on the table. It’s as simple as that. Email is quick and free.
Most common reason this element is missing: Procrastination, lack of confidence in writing an effective series of messages, lack of time management, lack of technology. (These should be automated, not delivered manually)
Automated marketing elements
You’re a busy person aren’t you? Chances are you don’t have a spare 10 – 15 hours available each week to complete the tasks necessary to create an effective prospecting, touch point, and follow-up campaigns needed to increase your closing ratio by 20 – 30%.
However, even with an average auto-responder or lead management system you can delegate those tasks to your PC so that a huge chunk of your day to day marketing activities get done even when you’re at your busiest. It’s like having a personal assistant that never takes a break!
Chad Weber – http://www.loanofficermarketinglab.com/chrish
Generate Local Mortgage Leads First
Posted by: | CommentsThe best audience to go after in the beginning of your mortgage marketing venture, is to target those who are local to your county or state. You need to incorporate the following mortgage marketing tactics to get the attention of everyone local, seeking a mortgage loan:
1. Get a Website
The Loan Officer Marketing Lab can help you create a website for FREE! We know exactly what the consumer wants to see in a mortgage website. And we know how to properly optimize it so you can generate a truckload of mortgage leads!
We can also help you start a WordPress.com blog. It’s free and Google Search loves blogs. By adding new content to your blog on the regular, your mortgage marketing and mortgage lead generation efforts will increase exponentially!
Another advantage of having a blog is managing the customers’ expectations. Online customers often want the opportunity to engage and interact with businesses before they call or buy. A blog allows you to demonstrate trust, personality, and give the customer some value before doing business with you. This is mortgage training for the customer!
2. Get Listed in Google Local
Google Local is like the yellow pages online. TONS of Internet searchers turn to Google Local because they prefer to work with a local business, rather than a company that is halfway across the country.
Joining Google Local takes only 5 minutes and you can be up and running in no time flat! You can target a pretty nice radius, so don’t worry about not having enough “reach” with your customers.
3. Submit Your URL to Local City Directories
Local city directories are also often neglected, but very powerful local search results.
Submit your website to local directories. Directories are not totally dead yet 
They still have value, but DO NOT pay to have your business listed, as there are too many FREE resources to get listed in. If you do a simple search for business directories, you should get LOTS of results that come up. But first, go with the names you recognize, such as the Yellow Pages or Localism.
4. Put your URL EVERYWHERE!!!
Your website URL should go everywhere you advertise. If you want to generate traffic, you need to advertise in all possible places. Your email signature, your e-fax, text message footer, I mean everywhere. Try to make it a local household name.
Chris Hallmark – http://www.loanofficermarketinglab.com/chrish
Every LO Needs an Autoresponder!
Posted by: | CommentsEvery serious Realtor, Loan Officer doing mortgage marketing, or salesperson in general should have an email autorespnder in place. An autoresponder is a pre-written email, often times a series of emails, saved online and then used when someone opts in to your website. The purpose is to utilize it to stay in touch with you clients. an autoresponder can be used to broadcast TONS of emails to your target audience, with out have to do it all manually. Talk about efficient mortgage lead generation!
Often times, the emails that you send will be “touching base” types of emails. You can list facts, market conditions, reports, special links, virtually anything you want, in your autoresponder emails. Just make sure that you use solid information and add VALUE, otherwise your cleints will OPT OUT.
Always be sure to include an unsubscribe link in your emails. You don’t want your contacts to opt out of your emails, but you do need to provide the option to stop receiving autoresponders from you. It is now a RULE that you have to have an unsubscribe link in your emails, or you can be banned form certain companies or servers and get put on a “blacklist”.
Having a good autoresponder campaign is like having clients work FOR you, without having to pay them. Imagine having to manually touch base with them all the time? You would go insane. Autoresponders take all that pain out of the equation for you. You can not only use emails, but also set up text message autoresponders.
In order to really harness the power of autoreponders, you should get a professionally designed autoresponder program. There are many out there. Some allow you to pay a monthly fee. Others charge per email and/or bulk email. Still, there are companies where you can purchase an autoresponder “script”, and have it installed on your server, with only a one-time setup fee!
Chris Hallmark – http://www.loanofficermarketinglab.com/chrish
Essential Elements of Quality Ads (Real Estate or Mortgage)
Posted by: | Comments1) Too Much Information – I see too many agents and LO’s giving away the farm when they make up an ad. Wether it is in the newspapers, online, whatever, agents are divulging so much information that the customer has no incentive to call anymore. That = NO SALE! Stop giving away the fam, Realtors! Leave something to be desired, and give the reader just a little taste, so they have to inquire further.
2) Font that is Too Small - Don’t use print that is way too small in your ads. People can’t squint to see property descriptions and such, without getting a headache. If they are driving by and looking at a sign on a lawn, they CERTAINLY won’t be able to see what it says! Make you print bold and exciting!. Wake the reader up a little bit.
3) Over-Using Images - People are naturally visual by nature. They like to be able to see or touch things. Pictures are good for catching the attention of prospects as they are driving by. However, the picture or image should not be the core element of the sign. You still need to use creative verbiage when you are making ads. The image should represent something, but not be the be all end all of your advertisment. Pictures are a great supplement to your message that you are conveying.
4) Over Selling Your Company or Service - It’s okay to brag a little, just don’t overdo it! People like to know that they are dealing with a great agent or company, but bragadocio needs to be kept to a minimum. People really just want information about the product or service that you have to offer, not a flashing billboard about how great and wonderful you are. Benefits, benefits, benefits!
5) Wrong/Too many Colors - Make the colors simple. Red, Black Yellow, White, you know, NORMAL base colors. It’s not graffiti time when you are doing real estate ads. Don’t make your ads an eye sore, make them easy on the eyes! People pay more and longer attention to things that are easy to visualize 
Chris Hallmark – http://www.loanofficermarketinglab.com/chrish
My 4 Favorite Social Websites for LO’s
Posted by: | CommentsFacebook Review
Simply put, Facebook has over 250 million users, and has totally eclipsed Myspace. Facebook is an awesome site to market your business in the “Groups” area. You can gain “fans” or “friends” and start a cult-like following. Think of Facebook as a much more mature version of MySpace, with more features and applications. There are TONS of high profile business people on Facebook. When you make posts, you can insert your URL into the bottom. YES, Facebook is link-friendly
Twitter Review
Twitter is the latest craze to hit the micro-blogging world. The term “Tweet” has VERY quickly become a household catch-phrase. Using Twitter to engage with others and provide frequent updates about your life and business can prove to be extremely beneficial. It is merely a super cool way to keep your inner circle or SOI, updated into your world! With Twitter, you gain”Followers”, as opposed to “Friends” like on other sites. Twitter is a blog, NOT a group-type site like Facebook or Myspace. You can make promotions on your Tweet posts, but they have to be kept relatively short. And the more often you make Tweets, the more followers you will gain. YES, Twitter is link-friendly!
YouTube Review
Everyone knows that YouTube is THE place to go to see videos about anything your heart desires, so I won’t even start to rave about it, as it’s been done to death. You also probably know that if you’re trying to promote yourself or a company, video is the way to go these days. Now, it’s becoming a necessity to have a web video for your business, not just a normal website. Youtube already has a HUGE captive audience, so there is no need to worry about generating traffic. The most effective videos are kept 5-7 minutes in length, as viewers do have a short attention span
LinkedIn Review
LinkedIn is the most notorious site for professional networkers, period. EVERY professional, wether an employee, business owner, investor, should be on LinkedIn! With over 200 different industries covered and close to 65 million memebers, Linkedin is an amazing, easy platform for networking and connecting with other professionals. Lots of deals originate through LinkedIn! It is also a great social network for recommending job seekers to employers through the use of your Linkedin contact list. There is also an incredible LinkedIn marketing guide for beginners. YES, it is link-friendly!
Chris Hallmark – http://www.loanofficermarketinglab.com/chrish
Two Major Reasons Why YouTube is Awesome!
Posted by: | CommentsThe web has revolutionized the field of real estate like no other niche. Video Marketing has become THE staple in promoting a product or a service online. It has impacted real estate and mortgage marketing tremendously. The Internet and video has made it so simple for people to shop online. However, there is much more to it…
The video revolution has arrived. You can find almost anyone or anything on any topic, on YouTube. YouTube is THE major video online site. The benefits for real estate sellers and buyers is un-ending. Many others have tried to imitate YouTube, but it hasn’t happened, at least not so far. But there are really two major benefits you get from using it:
Let’s imagine that you put together a short (or long) video of your property that you are looking to sell. If you do things the same way that every other seller is doing them, you will get virtually the same result…SQUAT! Why? Because there is no traffic coming to your site. But if you leverage the power of YouTube, you already have a huge, steady stream of buyers looking for homes…probably just like YOURS!! You don’t have to go looking for traffic.
The second thing you need to remember, is that YouTube videos come up higher than ANY other videos, in Google rankings. In essence, Google LOVES YouTube, especially when you advertise your video with lots of key words and link to it on other authority sites. That is a video marketing double-whammy!
Try Marketing your listings on YouTube today…you will be utterly amazed by the results! It does not matter whether you use it for mortgage lead generation or real estate lead generation.
Chris Hallmark – http://www.freerealestatemarketinglab.com
10 Super Effective Blogging Tips!
Posted by: | CommentsIn updating my own blog this morning, I realized what makes it successful. I wanted to share these things with you, so that you too can get the most out of your blogging efforts
1. Near a Holiday or special event, the right blog post can be HUGE. Try to time them perfectly and watch the traffic flow surge!
2. ALWAYS give your personal opinion or make the reader feel like they are right in your shoes. Make your post an experience!
3. Get People to subscribe/sign up immediately. Use te RSS feeds and gain fans and followers ASAP.
4. Be original in your ideas. Popular things spread like wildfire but quickly burn out. Keep your content fresh.
5. Make sure you update your blog every other day for SEO purposes. Always ad relevant information and keywords to your blog.
6. Make sure you are on the same page as your readers. Even basic concepts and information can be great discoveries for others.
7. Tell stories!!!! People love to hear true stories and see how they pertain to your post. Just don’t write a whole book
8. Add QUALITY over quantity. Writing a lot of boring garbage is the fastest way to lose followers.
9. Want good SEO content about yourself on your blog? Interview yourself with some keyword rich questions. It’ll be fun too
10. Bold your keywords, use header tags, and make you blog easy for Google to read.
Chris Hallmark - http://www.loanofficermarketinglab.com/chrish
How to Not Burnout in the Mortgage Business
Posted by: | CommentsBy far, the biggest source of burnout for mortgage brokers and loan officers, as well as any other sales profession, is focusing on an audience that does not want to do business with you. This is called REJECTION, and although many people claim to “love” it, I don’t think that’s the case, at least not in the long run.
The #2 reason for burnout is instability in your lead generation. Not having a good system in place will burn you out QUICKLY. When you are self-employed, you want to have consistent systems that bring in nice, steady flows of leads on a regular basis. You can’t just “wing it”.
Let’s review the four criteria that will help you eliminate the frustration of wasting your time on rate-shoppers, tire-kickers, ‘looky-lou’s’ and other time-wasters.
Your prospect must be:
1. Interested. They must want to have a legitimate reason for wanting to do business with you. Find out what their motivation is and capitalize on it.
2. Pre-qualified. I still see professionals working with unqualified prospects. Talk about a waste of time and marketing dollars.
3. Sold on You and your Service. They want to do business with you. You’ve positioned yourself as the person to get a mortgage from… they trust and respect you, and are ready to work exclusively with YOU.
These are the criteria that you want to have in place before the prospect even sits down with you. The prefix “pre” could not apply more in this situation. You absolutley need committed, motivated people from the get-go, or you will hit burnout really fast! Solid mortgage training and mortgage marketing plans will bring you these pre-qualified prospects in abundance!
Chris Hallmark – http://www.loanofficermarketinglab.com/chrish
The Best Sources of Referrals!
Posted by: | CommentsRealtor Referrals are by far the most effective tool in your mortgage marketing arsenal. Realtor reaferrals can flow with abundance if you hook up with the right real estate agents. Go for the top 10% of agents in your marketplace, and you should have no problem generating TONS of referrals from them, and having fun fillling your bank account. Let’s not neglect the other types of referrals out there, however
Past Customer Referrals
Customer referrals are the most sought after by Realtors and Loan Officers. These are referrals generated by customers you have already served and either done a loan for, or helped on the real estate side. These clients are happy with their past experience with you and your services, and have gladly referred you to their friends and family. They are the “gravy” of the mortgage business. They can often be a “lay down” because you come so highly recommended.
Sphere of Influence Referrals
They may not count for a lot of your business, but a mortgage professional should be able to count on their friends and their family for referrals when they do come up. Your family and friends should absolutely KNOW that you are in the real estate or mortgage business. If they don’t, shame on you! And the bigger the family and SOI you have, the more referrals
Mortgage Marketing Referrals
These are the kinds of referrals that you get from offering an incentive to another business professional, who refers clients to you. Attorneys, accountants, pizzeria owners, literally any other business contact that you can co-market with.
Internet Referrals
There are also internet referrals. This is where good Google Mortgage Training can come in handy! Getting high rankings in Google means that lots of customers will be able to easily find your site in searches, and fill out your lead capture forms! These referrals are amazing because you are getting the prequalification information up front. These are FREE to get and there is literally no end to them. I have been at the point of getting 15 plus leads PER DAY from this kind of mortgage marketing!
Chris Hallmark – http://www.freerealestatemarketinglab.com
Improving Your Clicks on Online Ads
Posted by: | CommentsAn extremely thing to keep in mind when you are putting together the ads for your online campaign is that, first and foremost, you want visitors to the site to click on your ad. It does not matter how effective the body is if everybody just skips clicking on the ad.
The first key here, of course, is the headline. You must have a headline that compels a reader to click on your ad. Otherwise, your great message never gets delivered. With my idea, there is a simple way to help your results in that regard. Call it “Sneaky Little Secret No. 2.” You want to make sure that your headlines or subject lines of your ad are loaded with keywords that are relevant to the kind of leads you are trying to attract.
The little trick that I use to accomplish this is the free keyword tool of Google. If you go into Google and you search for “Google Keyword Tool,” the first result will be this little tool. What you can do is type in a phrase, and it will show you how much traffic variations of that phrase gets. What you will find is that a slight difference in a phrase gets extraordinarily more traffic than a slightly different variation of it.
Here is how that is powerful, in two reasons.
1. If that particular phrase is very common, and people are typing it into Google – searching, for example, “free foreclosure listings” – and that phrase gets lots of traffic on Google, it stands to reason that if you put that in your CraigsList ad, it is going to also draw attention for the same reason.
2. The other big thing is, because CraigsList gets so much traffic, CraigsList ranks very highly in the organic results of Google. So let us say somebody is not searching directly on CraigsList, but they go to Google and put in “free foreclosure listings Middletown, NJ.” This is mortgage marketing at its slickest! If your ad has that general content or those keywords in it, you are very likely to show up very highly in the organic results because CraigsList ranks very highly. So you get additional traffic that you would not have gotten because the people did not start on CraigsList, but the result came up and they ended up clicking through.
Chris Hallmark – http://www.loanofficermarketinglab.com/chrish
