Archive for Mortgage Training

Aug
17

SEO For Loan Officers!

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Mortgage marketing ToolsToday we begin a 2 day exploration of using SEO as a mortgage marketing tool. Many loan officers find this topic intriguing, but few know how, or where to get started. Today and tomorrow we’ll spend 1 hour each day showing you everything you need to know to start marekting your business online, and slef generating leads for your pipeline.

Join us by registering here:

https://www2.gotomeeting.com/register/247877651

Categories : Mortgage Training
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May
04

Loan Officer Unleashed Round 2

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So we wrapped up our first round of Loan Officer Unleashed last week Friday. We had more than 600 loan officer participate. We spent 5 days going through the proper steps to generate more referrals from Realtors. I had a blast, and we had loan officers telling us about their results before we even finished up with day 5!

Exciting to be sure, but we did have 1 small problem… Nearly 2,000 loan officers registered! No matter how badly I’d like to help everyone at the same time, it’s just not realistic to pack that many on 1 webinar and expect that your questions will be answered.

So what does that mean? It means that we’re hosting a second round of Loan Officer Unleashed! If you missed round 1, and want to join us for Round 2, then you need to register now before I send out the email invitation to the 1,400 that registered for our waiting list. Here’s the link:

https://www2.gotomeeting.com/register/666206915

Come see an effective mortgage marketing strategy laid out for you step by step in just 1 short week. See you there!

Categories : Mortgage Training
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Landing pages are a great way to generate real estate leads through your website. But many agents don’t know what a landing page is to begin with, and how to use them to produce leads. In today’s lesson, I’ll talk about each of these things. I’ll also give you a sample landing page to reinforce the lesson, and to get your marketing wheels turning.

So What Exactly is a “Landing Page”?
Within the context of Internet marketing, a landing page is where a person “lands” upon reaching a certain website. So in a sense, every page of your real estate website could be a landing page, because you never know where somebody will land upon finding the site.

But you can also create specific landing pages for specific purposes. For example, people who use sponsored search / PPC in Google and Yahoo usually have landing pages as part of that program. Or at least they should. So when the search engine user clicks on a sponsored ad, they are sent to a specific landing page that is relevant to their search and the overall ad campaign (as opposed to sending them to the website’s home page, which is just plain silly).

Think of Landing Pages as “tentacles” that can reach out and grab new leads for you and your website.  A blog post could even be a landing page, or a forum post at that.  A Landing Page can be seen as a “mini-website” too!  Landing Pages should ONLY briefly describe your product or service, compelling the reader to click through to your main website.  They are great, short-story style marketing web pages that get great results!

Here is an example of the perfect Landing page:  http://www.loanofficermarketinglab.com/chrish

Categories : Mortgage Training
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know, I know… Active Rain is primarily a real estate specific blog, so why would I choose to post a blog that talks about mortgage lead generation? For starters, you’d be surprised with how many mortgage professionals regularly visit, and post to Active Rain.

It’s a great platform, and excellent tool to reach a targeted demographic. Not to mention, everything I post about mortgage lead generation applies to real estate marketing as well – We’re all targeting the same group of people. Those who want to buy or sell a home.

Though my comments today will be short, they will be pointed. Mortgage lead generation has changed. We’ve all watched it happen in fact… The market has shifted, the refi boom ended, and people have been hesitant to take action.

As if these changes were not enough, the shopping habits of the average consumer has changed as well. According to the National Association of Realtors, in 2009, 93% of home buyers used the internet to help select a new home. While I don’t have official statistics in front of me, we can imagine that a huge percentage of those home buyers also used the web to check on mortgage rates, and compare loan officers.

Direct mail, magazine ads, cold calling… Traditional methods of mortgage lead generation are not as effective as they once were. I’m not here to scream that the sky is falling, and that these means of generating business are completely dead. Traditional methods will always have their place when used correctly.

However, in 2010, the average consumer is hit with (According to the most recent stats from the DMA) more than 3,000 advertising messages per day. That’s right, more than 1.2 million per year! Is it any wonder that interuption based advertising methods such as direct mail and cold calls are not as effective as they once were?

This is advertising overload! Which brings me back to the original point I wanted to make. If you want an effective marketing strategy, you’re going to need to alter your focus. Instead of lumping everyone into a single group to advertise to in bulk, why not spend your time marketing to those who are already interested?

Sounds impossible at first glance doesn’t it? I named this blog post “mortgage lead generation” for a reason, and that’s because despite appearances, it’s very doable. There are hundreds, if not thousands of prospects in your area taking the time to search for mortgage rates, companies, brokers, and more. These people are actively searching, and they’re leaving bread crumb trails for savvy marketers to follow.

I’ll continue telling you about the process in my next post. Make it a great week, and please check back in a few days to learn how to identify these hot prospects.

http://www.loanofficermarketinglab.com/chrish

Categories : Mortgage Training
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Mortgage brokers and Realtors, I have a fun test for you. This test will give you an idea of your ability to think through situations. Believe it or not, no matter how fun it is to answer these questions, this exercise is still relevant to generating more business. Are you ready for this? Here we go:

Question #1 – There are 6 eggs in a basket. 6 people each take 1 egg. How can it be that 1 egg is left in the basket?

Question #2 – Acting on an anonymous phone call, police raid a house to arrest a suspected murderer. They don’t know what he looks like, but they do know that his name is John. Inside, they find a carpenter, a cab driver, a mechanic and fireman playing cards. Without asking his name, they arrest the fireman on the spot. How did they know they had their man?

Question #3 – A man escaped from prison and is making his way home on foot. After walking about 2 miles from the prison on a rural country road, he notices a police car coming towards him. Despite knowing that all squads will be looking for him, he ran towards the car. Only when he was about 10 feet away did he turn and run into the woods. Why did he run towards the police car?

You will find the answers to these questions at the end of this article. So what is the point of presenting you with these questions? The above scenarios were designed to test an individual’s lateral thinking ability. What exactly is lateral thinking?

Lateral thinking is approaching a problem from diverse angles instead of focusing on one approach at length. All of the above questions had relatively simple answers to them, but when presented in the context that they were, the scenarios can seem confusing.

I used these scenarios to demonstrate the way we as mortgage brokers approach our own business and the gaps in training that can daunt the “Average Joe” mortgage broker or Realtor . Sometimes we find ourselves in situations where there seems to be no easy answer. In fact, many mortgage brokers are feeling downright confused about what to do in today’s market condition.

Many originators and real estate professionals look at their options, and they find 1 or 2 recommended solutions that may or may not work as advertised. What happens when the marketing approach doesn’t bring in the desired results? They give up! Why resign yourself to mediocre results or to a less than fulfilling career when there are so many solutions still out there for mortgage brokers and agents with even an ounce of self-confidence?

By using our own brainpower and the mountain of information available to us, there are simple solutions available at our finger-tips just waiting for us to implement. The problem is that a fine balance needs to be struck between creative lateral thinking while adhering to sound and proven business truths.

Try approaching your challenges from a different angle. Apply critical and lateral thinking to the hurdles that you face to find solutions where previously there seemed to be none.

As long as originators and agents continue to implement the same strategies and approaches that everyone else is using, they will continue to get the same results they always have. It’s amazing what a little brain power and creative thinking can accomplish. Take a look at the answers to the questions above to find out what the answers were.

I think you’ll be amazed at how simple the solutions were. Yet due to our own limited view of situations and the world around us, many times we create our own mental prison. Free the creativity within yourself, and apply these principals to some of your most pressing challenges. I think you just may surprise yourself.

Answers Key:

#1 – The last person to take an egg took the basket with him.

#2 – John was the only man in the room.

#3 – The criminal was on a bridge, and was much closer to one side than the other.

http://www.loanofficermarketinglab.com/chrish

Categories : Mortgage Training
Comments (1)

A very true post written by Chad Weber…

Many originators cannot envision themselves as being successful. No joke! Most sales professionals feel deep down inside that they will never reach their true financial goals. Isn’t this depressing? In order to reach success you have to first believe that you can do it! No, not just the uncommitted “you can do it” pep talks that we sometimes give ourselves; but the firm conviction that you are almost there! Believe in yourself and take affirmative action to supply the necessary education and tools to hit those goals.

Most loan officers are closer than they realize and just need that small helping hand to push them over the edge.Then there are others that for 1 reason or another inwardly believe that the world is against them, or “things just weren’t meant to work out for me.” My advice to these loan officers? SNAP OUT OF IT! We all have bad days, weeks, and even sometimes months and years!

Or at least it may seem that way at times. But let me give you the best advice I can based on my own personal down-turns and roller coaster rides… Despite the fact that I had some months where every single day seemed to bring 1 disaster after another, (In fact, I once had a 6 – 7 month stretch of bad news, work-related disasters, and even my condo that was nearly destroyed while I was on vacation) I can tell you in all sincerity that very little progress was ever made when my attitude was negative.

The only time I was able to make forward progress, and change my circumstances for the better was when I put the negative “poor me” and “nothing ever works out for me” attitude behind me. Too often we give in to pointing fingers at others, or circumstances instead of taking responsibility for our own future. Make the decision today to make a change for the better. Success is not too far away if you are committed to finding it. No games, no excuses, just action!

http://www.loanofficermarketinglab.com/chrish

Categories : Mortgage Training
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What if I told you that there is a massive crowd of hungry buyers that are looking for your services? What if I then told you that this huge list of loan officer/Realtor leads went ignored by nearly 90% of mortgage brokers and Realtors? Would you believe me?

It happens every single month, and will continue to happen for quite a while. So what exactly does this mean to you? This means that there is a relatively untapped market just waiting for you to jump in and dominate! So what is this mystical market that no one has ever heard of?

The internet… You heard me right, the internet! According to Google, (There’s even a way to verify this information) each month, even a medium sized city in the U.S. will get over 200,000 searches for real estate! Let that sink in for a moment! Over 200,000 searches every single month for homes for sale!

While we already know that most of those individuals will not buy a home for any number of reasons, even if 10% of that number is serious about buying within the next 6 – 12 months, you have a gold mine just sitting there on the web right in front of your face!

Yet, despite these hundreds of thousands of searches each month in city after city, more than 90% of loan officer’s surveyed reported that they close 1 or fewer transactions per year from their websites! Talk about missing the boat! There’s more than enough loan officer or Realtor leads flowing through the web to keep any loan officer busy as can be, yet most are going broke in today’s market.

So what’s causing this strange phenomena? Simple. Most loan officers subscribe to the “build it and they will come” method of online marketing. They purchase a ‘pretty’ website, and then sit there to wait for business to roll in!

Sorry guys! The web is such a large place (Total websites now number in the billions!) these days, that if you don’t actively market your site, there’s no way your hungry prospects are going to find you! It’s akin to building a McDonalds in the center of a Rain Forest! How much business will you get? None!

All is not lost. There are simple techniques that can place your website at the top of the search engines so that home buyers can find your site, and ultimately end up in your pipeline. Since most loan officers never take the time to learn these techniques, this means that there are just that many more loan officer leads waiting for you.

If you’d like to see first hand how to find out just how many leads you could develop in your own home-town:

http://www.loanofficermarketinglab.com/chrish

Categories : Mortgage Training
Comments (7)
Feb
19

The All-Important Autoresponder

Posted by: NJLoanOfficer | Comments (3)

Credit goes to Chad for piecing together one of the best autoresponder summaries ever…

When most lenders/Realtors hear the word “auto-responder” they think of a pre-written message that is given the lowly task of informing your contacts “Sorry, I’m gone for the day and will be back on…” Not much more than an online answering machine when you think about it. This is not the auto-responder we’re discussing today. Not even close.

A true email marketing autoresponder comes with the following features:

1. Groups
2. Pre-set delivery intervals
3. Auto – subscription
4. SPAM check tools

So what are all these features for? Let’s have a look:

1. Groups

What is it: Most true email marketing systems allow you to set up multiple “groups.” A group is simple a list of people you want to email to, that all share something in common. Such as realtors may be one group you email to, while “past clients” may be a second group. Obviously you don’t want the same drip emails going to other business contacts, as you do your past clients, so you create 2 seperate groups. I recommend that you have at least 5 groups:

1. Past Clients
2. Deals in process
3. Prospects
4. Realtors (Or at least 1 other referral source)
5. FSBO prospects

2. Preset delivery intervals

This one iss pretty straight forward. You want your auto-responder to have the ability to pre-set the delivery of your email campaign at regular intervals. Day 1, day 15, day 30 and so forth. This means that you setup your campaign once, and let the machine do the work for you from that point forward. Sounds nice doesn’t it? So where are all the mortgage marketing tools that convert sales for you? Can’t wait until they invent one of those!

3. Auto-Subscription

This feature allows you to capture names and phone numbers (Along with any other relevant info you want) right from your website. A good auto-responder will make this a simple step as well. Place the form on the proper pages, ads, or blogs and voila – a new source of leads!

4 – SPAM Check Tools

Spam filters have gone crazy these days. It seems a higher and higher percentage of messages are labelled as spam. If your messages aren’t getting through, then they’re likely not getting read. Not a good situation. A good auto-responder will scan your email message prior to delivery, and warn you of potential spam red flags. There are dozens of words, and phrases that can set off spam filters these days. Not to mention font size and color amongst other things.

http://www.loanofficermarketinglab.com/chrish

Categories : Mortgage Training
Comments (3)

Another great article Chad shared with me recently…

When things go wrong, what do you do? When something isn’t working for you, how do you respond? I cannot count the number of times loan officers or Realtors call me up begging for a solution to their lead generation problems, but in the same breath they tell me all the things they have tried that don’t work.

I hear things such as:

“That doesn’t work here”

“Realtors are different here – they won’t work with me”

“I tried marketing to fsbo’s – that doesn’t work”

See where this is headed? Me being the ever-curious individual that I am, I cannot help but dig a little further. It takes a little pressing, but usually I find that these same loan officers and Realtors who are complaining that “nothing works” are usually trying something out for all of 2 or 3 weeks and then giving up!

This is not what I call commitment guys! Tossing something aside because it didn’t yield results in 2 or 3 weeks is a guaranteed way to fail. Even those who stick it out a bit longer are usually so convinced that they are doing everything right the first time around, that all the blame for the failure goes to the marketing plan, and not to themselves.

But let me ask you a pointed question. How many of us could pick up a guitar and hammer out an AC/DC solo the first time around with no practice? Not I! (I’ve got the earplugs to prove it!) Let’s try something simpler. When you first learned to drive a car with a manual transmission (Or even an automatic for that matter) – Did you hop in and head out for a cross country road-trip?

Of course not, it took a bit of practice to smooth things out and make it a habit. So how come so many originators assume that they’re doing everything right, and point their fingers at “realtors” “lazy loan officers” ”fsbo’s” “the market” “the marketing plan” etc?

When your mortgage lead generation and/or real estate efforts go a little “haywire” take a step back, look a little closer at what you are (and are not) doing, and apply some common sense.  More often than not, you’ll find that there are several pieces of the puzzle missing, or in desperate need of tweaking.

 

Chris Hallmark - http://www.loanofficermarketinglab.com/chrish

Categories : Mortgage Training
Comments (3)
Feb
11

These Statistics Are Proof…

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Chad Weber here from the Loan Officer Marketing Lab. Thought I’d share something exciting I read online today. The 2009 National Association Of Realtors Profile Of Buyers And Sellers report was released in December 2009. This is a yearly compilation that the NAR sells on their site for real estate professionals to get a good idea of how the industry is doing, and what has changed in the past year.

Well, I found a great blog post that summarized some of the more important statistics found in this 125.00 report. (See? Reading my emails just saved you 125 dollars! – haha)  I found 3 of those statistics useful for loan officers:

In 2009:

- 90% of home buyers used the Internet to help find their home
- 78% of buyers purchased through a real estate agents
- 85% of sellers used an agent to sell

What’s the big deal about these stats? Well first of all, we can go back to previous year profiles released by the NAR to see the growth of the web and how it plays an ever increasing role in how buyers shop. Last year the statistic for those using the web to find a home was 87%. Prior to that it was 84%, and it shrinks little by little the further back you go. (This figure was 2% in 1995, 74% in 2004, 77% in 2005 and so forth)

In other words each year, more people are using the web to shop for a home. This also means that your opportunity to capture home buyers (Who will obviously need a loan soon right?) has gone up year after year, so long as you know how to effective use the web to market yourself. Think about it. You have 90% of all home buyers last year who went online, identified themselves by using search engines, and ultimately spent time actively searching for a home. What if it was your name, or your website that showed up first when these buyers performed a search?

Even though you don’t sell homes, how difficult would it be to work hand in hand with local real estate agents to place homes, or links to homes for sale onto your site? Think about it for even a moment, and you’ll begin to see the opportunity that exists here for enterprising loan officers.

The statistics above also tell us that most buyers and sellers are also using agents to represent them. This means that there is still a huge opportunity to work with high producing real estate agents, and benefit from an avalanche of referrals. Imagine having just 3 or 4 high producers sending you their referrals… What impact would that have on your income?

See what I mean? This really is exciting! I have no real goal for today’s message other than to share this information with you. Perhaps it will get your creative juices flowing? Have a great one!

NOTE: This weeks online marketing webinar is scheduled for Friday:  https://www2.gotomeeting.com/register/842465875

Categories : Mortgage Training
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