Bliss Sawyer's Marketing Blog

Sample Gas Coupon

Here is a sample coupon for the idea I posted below on offering a gas incentive for each closed loan.  You can order the coupons from Easy Street Designs (use coupon code 322023 for a 15% discount) or make them up yourself.  Here are my recommendations to make this campaign successful:

• Put your picture on the card
• Do a mailing to your entire database.  In your letter explain that the coupon can be passed along if they do not have a need for a mortgage at this time.
• Follow up with phone calls.
• Hand out the coupons at Realtor functions or other networking events.
• Put a printable coupon on your website
• Send an email to your database as well as the snailmail letter.  Make sure you mention that it can be forwarded.

I was driving through Moab, UT the other day (wishing I could stop and bike, of course!) when I saw a sign outside a mortgage company.  It was about 3 feet by 5 feet, vinyl and attached to a porch railing in front of the entrance.  It simply said "Get free gas with your next loan!" 

By the way, I have discussed this marketing idea with a HUD representative and was assured that it is not against Respa guidelines.  If you plan to go forward with this idea, consider every opportunity to get the word out and generate interest.

The Sky is Falling...

Remember the story of Chicken Little?  Oddly enough, this is the only book I have saved from my childhood.  And from the ragged look of it, you can tell I loved this story.  I've been thinking of this "Sky is falling" theory lately... there are plenty of reasons to despair in our industry, but there are also many reasons to hang in there and ride out the storm. 

I recently read a great article in Jeffrey Gitomer's Sales Caffeine by Robin Sieger.  Here is the part I found most interesting. 

"I can’t remember the magazine, but it was about nine years ago that I read a fascinating article in which four billionaires were interviewed. The one thing they had in common was they were all over 80 years of age. The interviewer basically asked them about the 20th century from a business point of view. The four interviewees said they had lived through a number of recessions, and one estimated in the 20th century there had been eight periods of recession. They all saw them as occupational hazards.

One of them gave an analogy based on a love of sailing. He said when the wind blows in, you get the sails up and travel fast and far. When the storm approaches, you take in the sails, make the ship safe and hang on. He added when you sense the worst of the storm has passed, you get your sails back up as fast as you can and get going. The biggest indicator of hope is that after the storm comes a period of calm and opportunity that you must never lose sight of.

For many of you, there is stormy weather ahead -- how severe and how long it will last I don’t know. I only know that I will keep my eye keenly on the horizon and the moment I sense the storm is breaking start, I’ll put up all the sails I can. In business, recessions come and go just as opportunities come and go, but you must never lose sight of the opportunities that the storms often wash up on the shore."  Click here tro read the article in full.

I think this aptly describes what our industry is experiencing.  But the storm will subside and the sun will come out (tomorrow).  Are you keeping the course?  I still say that mortgage origination is the best job in the world.  Doesn't mean it isn't difficult or without obstacles.  It just means it is worth it.

Let's go on a cruise together!

Want to be a part of THE mortgage event of 2009?  The Mortgage Leader Cruise is going to be February 22 - March 1, 2009 on the world's largest cruise ship The Freedom of the Seas and Yours Truly will be one of the featured speakers.

Everything about this event is first class.  Not only will you have a fabulous vacation, you will also get the motivation, education and tools you need to excel in this profession.  And hey - what a great way for us to get together and have some fun!

Remember that marketing budget I'm always talking about... this is absolutely what it's for.  Your investment will reap great rewards with this lineup of speakers and classes.

See you then!

Ain't it Awful Club

The difficulties in our industry and job can create quite a bit to complain about.  At times, the negativity seems to be all around and in every discussions.  When you participate in these conversations with co-workers, Realtors or even potential clients, you become a willing member of the “Ain’t it awful club.”  This is toxic and you should run from it as fast as you can.

These conversations may actually be a habit and something difficult to break away from, but your success depends on it!  People are attracted to positive, passionate individuals… especially for business relationships.  Try to take an objective view of yourself and analyze how much time you spend talking in a negative way.

When someone asks, “How’s the mortgage business?” Respond with a passionate: “UNBELIEVABLE!”  Isn’t that the truth?  This statement will give you and the recipient reason to smile.  Look for the positive to talk about and if there is a conversation going on that is not uplifting, remove yourself and go listen to Tony Robbins.

If you work to stay positive, especially in this negative environment, you will increase your ability to produce more loans and enjoy your career as a mortgage originator.

Work and Play

Summer is here and it can be a challenge to balance work, vacations and time with the family.  I'm a big advocate of time away from the office.. I love vacations and spending time with family.  But how do you balance that with the need to keep loans coming in?   Here are a few tips that I found to work in my  business...

Carving out time during the week:

1.  Come in early one or two days a week.  I found I get more done from 6 am -1 pm than 9 am - 5 pm.  Focus your time on looking for opportunities to market, staying in touch with your database and being in control of your pipeline.  End your work day with a referral partner lunch then go hang with your kids at the pool.

2.  Be accessible... to a point.  If you are taking time off during the day, be available by phone/email.  But don't let it control you.  It's ok to have the phone/email off for periods of time.  Especially if you were in the office earlier.  If there were a messages during the day, return them later.  Nothing wrong with going back to work at 7 pm for a bit.

3.  Offer your staff the chance to work early/leave early once in a while.  Let them enjoy the summer as well.

Enjoying your vacations:

We've all done it... gone on vacation, but then continued to stress about loans and situations back at the office.  Not so great for your vacation partners.  Try these things...

1.  Inform your clients and referral partners (see post on creative ideas) that you will be out of town.  Give the the name/phone/email of the person covering for you.

2.  Let your office know you will be checking in once each day (or every other day).  Ask that they try to handle things as best as possible.  Then have faith that they will!

3.  You certainly don't want a prospect to go somewhere else just because you are out of the office for a few days.  Contact all prospects that you are aware of.  Ask how their house hunting, etc. is going and give them an update on rates or other pertinent information.  Then introduce them to the person that will be covering for you (even if it is just giving them the name and phone number).  Making this effort will strengthen your relationship with each prospect and they will be less likely to go down the street.

4.  Just let go.  I know it's easier said than done.  (my husband would probably love to share a few horror stories with you)  But I love vacations and part of the reason I think this is such a great job is that we can set our own hours... as long as the loans are still coming in. 

It is definitely a balancing act.  But trust me... your sanity, your relationships and even your health will benefit from time away from the office.  You may even be surprised and feel more energized with your marketing, which will result in more loans!

Fannie to refi up to 120%

According to an article in Mortgage News Daily, Fannie Mae is rolling out a new program to help borrowers that are "underwater in their current mortgage".  The borrower needs to be current on the mortgage to be refinanced and it has to be a Fannie Mae owned or insured mortgage.  They will be able to finance up to 120% of their current  value.

This could potentially be huge, but beware as the details could kill it.  What about MI and what are the qualifying parameters?  Do your research well and then be ready to do some marketing.

If this truly comes about as a way to help consumers then you have a tremendous opportunity.  Stay abreast of this developing issue and then be the first to broadcast.  Offer a press release to your local newspaper, look to get on a local radio program to discuss the issue and then do other marketing to announce the new program.  If you are first in line to bring the program to the publics attention, you will gain credibility and hopefully, more loans to your pipeline.

National Read to a Loan Officer Day

I'm not sure if I have the power to do this or not... but I just designated April 21 as "Read to a Loan Officer Day."

Having put 4 kids through our countries educational system (well... we're about 1/2 way done.)  I have often been given information and encouragement on the benefits of reading to young children.  20 minutes a day.

Here is one quote from readingfoundation.org:  For every year you read with your child, average lifetime earnings increase by $50,000. You make a $250,000 gift to your child from birth to age five. The gift you give is essential for success in school and in life.

It's all good and well for this kids - but what about you?  What about your income?  If you spend 20 minutes a day reading to improve yourself, you will quickly become better than the majority of our industry.   Do I think you can increase your income by $50,000 just by reading 20 minutes a day?  Absolutely!  If you read books that motivate you, give you new marketing and sales skills and teach you how to grow your business, YOU WILL ATTRACT MORE BUSINESS.

Here are my top four picks:

The Sucess Principles by Jack Canfield

Little Black Book of Connections by Jeffrey Gitomer

Love the Killer App by Tim Sanders

Focal Point by Brian Tracy

Pick one, order it today and be on your way to greater success and income.  And if you have kids - you get a gold star for being a great example.

Speaking for Fun and Money

I am going to be presenting "Speaking for Fun and Money" at a Toastmasters conference and since I'm often asked "how do I get into speaking?" after presentations or by email, I thought I would pass along a few tips for those of you interested.

• Become an expert.  Pick your niche, research and study and listen/read to as many other experts as possible.  Yes, it may take a while, but it's worth it.

Get visible.  Toastmasters.   Chamber of Commerce.  Company training program.  Church.  Community organizations etc.  Look for opportunities (or create your own) to speak to a group of people.

Gain credibility.  Write, write, write.  Your reputation will grow as you are seen in publications or your own newsletter/blog.  Speak, speak, speak.  Do it for free, just get in front of an audience and perfect your presentation.

Speaking for money.  Market research what others are charging, join a speakers bureau and offer bonus materials.  Have your own website to showcase what you are all about.

Don't get discouraged.  It takes time to build name recognition.  Be willing to put in the effort and develop relationships that might turn into speaking opportunities.

Another thought on E-mail Etiquette

RE:  Be Specific

I have another thought to add to my recent post on E-mail Etiquette.  As you respond to e-mails you will be more effective if you change your subject line to reflect what you are writing.  Many times, responses are on another topic.  Be specific.  If the original e-mail was a question to your processor about the Smith file, she gave you an answer back and now you are questioning the Johnson file - rename the subject line to Johnson. 

This simple technique will help not only the receiver, but also you.  How many times have we all gone back to the deleted folder to reference an e-mail.  If the subject line is specific, this task is easier.  I correspond by e-mail and have found this greatly helps me in following up and keeping e-mails organized.

Do the receiver a favor and make your subject lines specific.

Link to Mortgage Originator Article

Click here to access my recent article in Mortgage Originator,  "Take Control of Your Day."  If you don't currently subscribe to this great industry magazine, e-mail me at bliss@blisssawyer.com for a free six-month subscription.  Every month there are great ideas and articles on every aspect of origination.  February is all about Finding Your Niche.