Bliss Sawyer's Marketing Blog

Do you have more time than applications? Part III

Welcome to the final part of my series "Do you have more time than applications?"  Part I was about Time and Part II dealt with Networking.  Part III is about marketing.  Take a look at the marketing activities you do each day.  Ideally, you should have 3-5 different strategies going on each day.  Here are a few suggestions:

Phone calls.  Are you calling your database to check in and see if there are any concerns with their current mortgage or if they have questions on interest rates?

Realtor marketing.  Phone calls, drop ins, presentations, financing options for their listings, lunch appointments, etc.  Become more visible and you will find yourself in the right place at the right time to receive more referrals.

Database marketing.  Each month, your sphere of influence (everyone that knows you and what you do) should receive something from you.  My rule of thumb is nine months of postcards with three months of envelope mailings mixed in.   Coupons, information marketing, value-add, etc.

Presentations.  Consider doing a presentation to youth groups on credit card debt.  First time homebuyer seminars.  Wealth management.  Really, anything to get you in front of more people.  You will reinforce your reputation as an expert and strengthen referral relationships.

It truly doesn't matter WHAT you are doing, as long as you are consistently doing something that drives your business forward.  Not every ideas will make the  phones ring, but by continually marketing each day you increase the probability of success.

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Realtor Presentations

Last month, I had the great privilege of speaking at the Maine Association of Mortgage Brokers annual conference.  I met many fantastic brokers and loved hearing their ideas and successes.  One that stood out was shared by Sharron Eastman of Big Horizon Mortgage.  In order to strengthen her Realtor relationships, Sharron began doing market presentations.  I asked her if she would share a brief synopsis of what she does.  Thanks Sharron for sharing!

"I do a talk on what has happened in the mortgage markets and credit  markets over the last 3 months.  I discuss old time lending i.e. community bank, depositors and keeping mortgages on the books… then move to the secondary market, how it came about and then to today.  I explain Wall Street demand then banks and lenders developing more and “better” products since the appetite was so unquenchable and originators “sales people” going out to sell the products they were given…(including banks).The final stop in the cycle of 4 is the consumer who used those products were happy as long as values were rising… then what happened when values stopped rising mixed with the subprime news this summer.  I think you can kind of guess the rest.  I also go into what the drop in rates did or did not do and what it was intended to do.   

What I have found is that although some of the beginning stuff is basic, the Realtors have FORGOTTEN how we got to having a product for every single borrower and they really appreciate having  me explain the whole cycle….I have been asked back and even referred by owners to other real estate offices.  Unfortunately for you I am a speak on the fly kind of person.  I have not prepared a power point for this presentation but do use a white board with the 4 elements of the cycle with lots of green (for money) and red (stoppage of money) markers in the form of arrows."

Offering presentations is a great way to develop a strong reputation as an expert and put yourself in front of referral sources in an informative manner.  Information Marketing at its best!

Conference Call Replay

I recently participated in My Mortgage Community's Originator Coach of the Year conference call series.  Based on all the turmoil going around this year I chose the topic:  "How to Succeed in this Crazy Time!  Tips to Successful Marketing."  I cover the following topics:

• Become a resource
• Dedication
• Planning
• Managing your day
• Accountability

These five topics are all essential pieces as you take your marketing and move forward.  If you want to make sure your phones are ringing during the next few months, this phone call is essential.  You can listen to a replay and follow along with my powerpoint at:  http://ftp.mymortgagecommunity.com/video/11bs67/11bs67.html

Enjoy!

Do you have more time than applications? Part II

In Part I of this series, I stated "How you spend your time now will determine how many applications you have in the future."  I sincerely hope you realize the truthfulness of this statement and are willing to take the necessary steps to move forward and gain the momentum you need to succeed.

Part II is all about networking.  Your ability to increase the number of people that know you and what you do for a living will directly correlate to higher production.  Of course you need to be knowledgeable (see part I) and likeable, but if only a few people know that you do mortgages, it won't matter how much you know or how nice you are, there just won't be anyone to beat your door down that needs a loan.

Become involved in Realtor affiliate groups and community organizations.  This involvement can give you the opportunity to meet new people, participate in a good cause and enjoy yourself.  The professional benefits will naturally follow.  The more your sphere of influence grows (people that know you and what you do) the greater opportunity you have to do loans for friends (referral-based business).  Introduce yourself to those you don’t know.  What good is going to an event to only talk with those you know – you will gain little more than you already have with this approach.

A few tips to help you network more efficiently:

• Remember, results are not always immediate, some relationships take time

• Get to know them and remember the personal details

• Make it win-win by giving referrals or other genuine assistance

• Make it personal - take the time to say thank you

• Don't waste their time - this isn't the place for a sales pitch

Places you can network:

• Realtor meetings or anytime you visit their office

• Organized networking groups

• Delivery people to your office

• Children's schools and athletics

• Neighbors

• Church events

• Community organizations and events

• Anywhere you go today, tomorrow, or the next day

This is a great time of year to give of yourself and get to know other people.  If networking makes you uncomfortable, do it anyway.  I promise that it will get easier the more you do it.  Stay tuned for the third part in our series... coming next week.

Great article and links on HR3915

I wanted to pass along a great article on HR 3915, written by Matthew Graham for the Mortgage News Daily.  I've read through quite a bit recently on this topic, but found this article to be well written and interesting.  It is vital that you understand what is being proposed and the possible implications.  There are some good things in HR 3915 and some definitely not-so-good. 

Do yourself and favor and read up on what may be changing the way we all do business.  Your opinion (educated, not emotional) DOES matter and you have the power to share your voice.  Here are a few links that you may find helpful.

HR 3915 just passed committee in the house and is now moving to a vote. What is HR 3915? If you don't know, then please read it here.

If you still want to have an opinion about it, but can't be troubled to wade through the bureaucratic verbosity of a full house bill, here is a synopsis.

And if you haven't heard of the proposed updates to it and you are still planning on having an opinion, please check this out (this is how the bill passed committee).

Section by section summary of changes.

Contact Your Congressman

SIGN THE PETITION

Do you have more time than applications? Part 1

Most loan officers have more time than applications right now.   I have a prediction to make:  How you spend your time now will determine how many applications you have in the future. 

What are you filling your day with?  Over the next three weeks, I am going to share with what I think are the essential tasks you should be doing in order to weather the storm our industry is facing.

Alvin Toffler once said "The Illiterate of the future will not be the person who cannot read.  It will be the person who does not know how to learn."  In my experience with loan officers around the country, there is a direct correlation between learning and success.  Those that spend more time learning and improving themselves are more successful.

So - task #1 is to increase your education time.  This could be learning a new program, reading a sales/marketing book, attending a seminar or listening to a webinar/conference call.  Next week, I will have the recording of my latest call "How to Succeed in this Crazy Time - Tips to Successful Marketing" and will post it on my blog.  Read through Mortgage Originator Magazine, articles on CNNMoney or any of the other financial websites.  We have an overload of information.  Take a few baby steps and dedicate at least three hours each week for your education.

Doing this will increase your confidence and others perception of you.  You will be able to have educated conversations with referral partners and potential clients.  Don't underestimate the power of knowledge!

NO on H.R. 3915 Petition

There is a bill (H.R. 3915) that, if passed, will have grave ramifications for mortgage originators.  In the way you are paid, liability and other matters.  If you are interested in finding out more and taking action to voice your opposition, I have provided you with links to the actual bill and a petition to say NO to H.R. 3915.

Read the bill in its entirety at:  http://www.house.gov/apps/list/press/financialsvcs_dem/subprimeleg.pdf

Sign petition at:  http://www.petitiononline.com/HR3915/

Allergies and marketing

For two years, I have been battling what I thought were horrible allergies.  At one point, my doctor said I was pretty much allergic to all of West Texas like so many sufferers here. Over time we tried 6 different medications... none of which worked.  I finally went to an allergist today to hopefully find a solution.

Amazingly enough, I am not allergic to one thing!  It is a completely different problem causing all my grief.  With a simple solution, I should be as good as new within a short time.  I spent two years trying to solve a problem one way, just to find out we'd been barking up the wrong tree.

I think (because, of course I can relate everything to marketing!) many loan officers have this problem in their current marketing strategies.  They are trying to solve the problem of low production by doing what everyone else is doing.  Trust me, what works for one person may not work for you.  We are each individuals and since this is absolutely a relationship business, you must find your own individual approach and marketing that makes YOU look good.

There are basics everyone should have.... great customer service, exceptional knowledge and passion for helping people.  But HOW you go about convincing potential customers and referral sources of these things is different for everyone.  Your ability to take an idea and tweak it to fit your personality and those you are trying to reach is essential is creating your own systems.

Take a look at the marketing you are currently doing or want to begin.  Ask yourself these questions:

1.  Do I LIKE the idea?  You have to believe it will work and have a desire to implement.

2.  Do I feel MOTIVATED when I am taking the steps necessary on a specific strategy?  I find that the most successful marketing is usually the one that excites you.  Your passion comes through.

3.  Am I WILLING to continue this program or strategy through the discouraging times?  It will happen, but your ability to work through the discouragement is what makes it successful.

Be flexible enough to say, "this is good, but I can make it great if I do X."  Take risks to set yourself apart from other lenders.  Since most have more time than applications right now, take some of that time to work on your marketing and come up with something that will WOW others and get your phone ringing.  I would say your next paycheck depends on it.