Bliss Sawyer's Marketing Blog

Seed Packet Mailing

This year I am sending 500 Seed Packets to a condo/apartment area that one of my agents has been farming.  We will co-brand the packets and letter.    I've sent seed packets that past two years to my Realtor group but will be sending to prospective borrowers this year instead.

Here is a great resource if you are looking to send seed packs.  I ordered the non-printed seed packs (15% off!) and will label with a sticker that has my info and the Realtors info.  We will also include our cards in the mailing.  Plan is to mail these out the middle of April. 

Invite the mom!

Rhonda Johnson, one of my long-time coaching clients (and friend) recently shared a tool that has helped her business in an unexpected way.  Rhonda works with a lot of first time home buyers and as you know, they can feel pretty overwhelmed with the process and details of getting their first mortgage.  I have often worried that they are not fully understanding the information but don't feel confident enough to share that with me.

Rhonda invites her first time home buyers to bring a family member or friend to the application appointment.  Even if they don't bring anyone, the fact that you opened the door for this gives them a greater sense of trust and security.  This is a great move for all originators that work with first time home buyers.

Rhonda went on to share the amazing thing that happens AFTER these meetings.  When a family member or friend has come to the appointment, they have then turned into a loan for themselves or referred another loan to Rhonda.  Now that is an unintended consequence we can all live with!

Thanks, Rhonda for sharing!

Remember those notes!

I recently let myself get a bit behind on my handwritten notes and let me tell you, it is much easier to do a few each day than try to organize who you need to send a note to and do a pile all at once.  My goal is three a day and I try to keep a few on my desk at all times to remind me.

Here are a few of the handwritten notes I send out:

• New referrals or prospects
• Thank you to the referral source
• Listing agent on new transaction
• After closing thank you to listing and buyers agent
• Closing thank you to buyer
• Birthday cards with a cupcake coupon
• Congrats note to Realtor that has won an award or other accomplishment
• Good luck with your new company - Realtors
• Thank you to title, insurance, appraisers etc. that have gone above and beyond

 

These are the cards I designed and printed through overnight prints

Email and blast this out on social media!

Pass this along to your Realtors and SOI:

This is BIG news: FHA is going to be cutting their mortgage insurance premiums from 1.35% to .85%.

Link to Bloomberg article.

Four Things I Wish I had Known in 1994

I started in the mortgage business in 1991 and moved into originating in 1994.  I realize that makes me old, I’m just hoping it has also made me wiser.   Since we all learn from mistakes and challenges, I thought I would share with you what I wish I had known 20 years ago.

1.  Rejection is good.  Well, not really but if you accept the fact that you will be told no you will not waste your time on fears and discouragement.  Some of your referrals will choose another lender, Realtors will go to lunch with you and then never send you a deal, underwriting guidelines will keep you from closing loans and the list goes on and on.  Letting these things get you down and keep you from improving and working on getting OTHER business is what keeps most loan officers from succeeding.
   
   
2. Success doesn’t take longer hours.  Success takes focused passion and determination.  Most loan officers’ waste time doing non-productive work.  The say they “work” 50 hours a week, but I guarantee you that if they are closing less than four to six deals a month they are not doing the right kind of work.   We all battle with being productive in ways that increase production.  There is not one way to do business.  Top producers are always looking for new ways to improve their systems and marketing.
   
   
3. Set goals and keep them visible.  Don’t let your eyes glaze over here.   My first January as a loan officer, my manager asked me to give him my production goals.  I thought that was the most ridiculous thing.  I was going to do as many loans as possible.  What difference would it make if I wrote down a number?    If I could go back and smack that weirdo (me, not my manager) I would.  Seriously.  I set goals and then review them monthly.  I do a vision board and keep it visible.  Goals help you succeed.  Amen.
   
   
4. Keep calm and carry on.  Have you ever lost sleep because of a loan?  Ever stared at your computer or phone waiting for an answer on underwriting or conditions?  I have – on steroids.  We all know this doesn’t solve problem any faster, but we become paralyzed by stress on files.  I think we can improve with experience and maturity (something I get more of each day) but it is also something we can work on.  Clients, Realtors and your support staff need you to be calm and the leader in your transactions.  If you don’t handle the problems and stress well then your future business will suffer.  People want to work with problem solvers that are even-tempered, kind and passionate.

The past 20 years have flown by and I’m sure the next 20 will be a blur.  My hope is that I continue to improve and be the best mortgage originator possible.

20 years ago - seems like yesterday!

Getting Reviews

I've always know the importance of testimonials and social media reviews, and have been looking for a better way to push my clients to share their experiences.  I'm starting with Facebook and Google.  Here is the email I send out:

Email Subject Line:   Can you help me?

I am looking to improve my business presence online and would love your help.  This should only take a couple minutes and hopefully it is easy for you!  Please choose one or more of the following options to leave a testimonial of my services:

Facebook lovers:  Go to https://www.facebook.com/MortgagesByBliss?sk=reviews and select “Write a Review”.  You can also LIKE the page to be entered to win prizes.

Google users:  Go to https://plus.google.com/u/0/113534144302112759554/about and click on “write a review”.

Old fashioned:  Reply back to this email with your comments

Thanks so very much for your help and support of my business!  Please let me know if there is anything I can do for you.

I've got twenty reviews on Facebook (I've been working on this one for a few months) and two on Google.  My goal is to steadily increase this each month with reviews from my closed clients.

HUD's new HAWK program

HUD is rolling out a new program:  Homeowners Armed With Knowledge (HAWK) that provides FHA insurance pricing incentives to first-time homebuyers which is defined as anyone that has not owned a home in the last 3 years.  Six hours of pre-contract counselling (GREAT reason to do some serious marketing to your Realtors), one hour pre-closing and one hour post-closing.

You can see Frank and Brian's video about this program by clicking here.

Official FHA site with details.

Lenders have to jump through a few hoops to get approved but this will be well worth it!

Password Motivation

I LOVE this concept that is going around the blogosphere.... Using your password as motivation.  Here's an article that describes one man's use of passwords to change is life.  

Here are some ideas to help your business:

• FinancialInd2024 (financial independence by 2024)
• 10loansby2015 (I am closing 10 loans a month by 2015)
• RealtorsRock2014  (nothing like some positive thinking)
• 20Million2015 (20 million by 2015
• AskforBiz2day (ask for business today)

The ideas are limitless.... create your own reminder for success!

FSBO Sellers

Our local market is very tight and it is definitely a sellers market.  This always results in more For Sale By Owner transactions.  I've had a few lately and have realized that this is a great marketing opportunity to reach out to a potential buyer.

When I start a FSBO transaction, I call the seller to cover the following points:

• Introduce myself
• Get all of their contact info for me and the appraiser
• Find out if they are using a different title company
• Make sure they understand their costs as a seller (surprising how many times they don't realize they have additional costs)
• See if I can help them with their next transaction

Always look for opportunities to reach out and connect with a potential buyer!

Giving back

I am on the board for the Realtor Community Involvement Committee and we recently implemented a "Give Back" program that I feel is fabulous.

Realtors (and affiliates) can purchase these reusable bags for $2 and give them to their clients that are getting ready to make a move.  We have a one page flyer that can be branded with the agents phone, logo etc. that has all of the local resources for donating items.  Food bank, Habitat for Humanity etc.  The Realtor can offer to pick it up or simply give it to them with the instructions on how to donate.

This is just one more marketing tool for agents and a way for them to help their clients give back to the community.

Asking for referrals.

Asking for referrals is one area most of us could improve.  I'm pretty good at asking in my email signature, handwritten notes and even on the back of my business card; but verbally asking during a conversation is not something I do very often.   Primarily because  I have never taken the time to get in the habit.

One of my coaching clients and I decided to tackle this task together and hold each other accountable.  (Thanks Cindy!!)  I use a legal pad to track my to-do's (yes, I'm old fashioned) and so I've chosen to add three boxes at the bottom of the page each day.  Cindy uses her calendar to track.  It doesn't really matter HOW you track but that you DO track.

We initially tried five a day, but three is a better number for me.  Just like three chocolate chip cookies are better than five.  I try to be pretty laid back as I don't want people to feel that I am pushy.   If it is a client or prospect I say "I would love it if you would pass along my name to your friends or family that might be looking to buy a home."   To a Realtor I say "Let me know if you have any clients I can get prequalified or help answer their questions.  I would love to work with you again soon."  

Today, I used this method when talking to a prospect about their credit approval and with two Realtors.  One that I have done quite a bit of business with and one that was referred to me by another agent.  Task accomplished!!

 

Marketing return on investment

As things have picked up in my origination business, I’ve tried to pinpoint what exactly has contributed to this so I can share it with my coaching clients and also to help keep the momentum going for me.  Come to find out, that’s easier said than done.

For those of you that have purchased Steal My Stuff or read this blog have seen the variety of marketing and networking that I’ve done over the years.  I will close ten purchase loans and one refinance this month so obviously (or should I say “gratefully”), the marketing and networking is working. The question is what activities have the greatest return on investment?

Here’s are the things that I feel have helped my business in the form of new referral relationships and continued referrals from Realtors and my SOI:

• I hired an assistant 15 months ago.  Loree started out at 15-20 hours a week and will be going to 30 next month to help me keep up.  She does a lot of those little things that would have fallen by the wayside.  I only have 25-30 hours a week for origination so this is critical.

- Birthday cards
- Handwritten notes
- File set up and marketing to clients during the process
- Closed loan marketing
- Other random tasks as they come up each day

• Being involved.  I am on the board of the local WCR and have spoken at two events.  I also recently joined the Community Involvement Committee at our local Board of Realtors.
• Sales meeting twice a month at large real estate company.  Our company sponsors breakfast and I have a couple minutes to talk about mortgages.  One Realtor told me that this is why she started sending me referrals.  Now that is great feedback!
• Realtor lunches.  I try to do two a week.   A little difficult as I’ve gotten busier, but definitely worth it.
• CE class refreshments at the board office once a month.  This has been a fantastic way to get in front of new Realtors and see ones that I already know.
• Customer Appreciation.  Annually, I coordinate a Pictures with Santa event and help with a water park and ice skating event.  I also host a vision board party for Realtors.
• Monthly postcards through Sendsations.
• Weekly emails to Realtors and monthly newsletter to SOI through MMG.

Here’s what I DON’T think has had a very good ROI.  I haven’t necessarily stopped all these, but I am pondering what I want to continue with. 

• Phone calls to my “C” group of Realtors.  I was making 40 calls a week (I have a list of about 200 agents that I have met in some way but don’t really know me) but am not currently.
• Homes for Heroes.  This is a great program and I love giving back, but I haven’t been doing the marketing necessary to make this a success and the cost is $1,200 a year.
• Listing Boosters.  I am committing to one year and am just a few months in so we’ll see on this one.  At a cost of $200 a month plus the sign riders, this may not be the business builder I thought it would be. 
• Individual Realtor drop-bys.  I will be sending out a spring mailing but don't plan on dropping by unless things slow down some.

And because this article isn’t long enough… here’s my list of ideas for the future:

• Social Media.  I am working on a Facebook business page and plan on spending more time getting referrals into LinkedIn and Yelp.
• Start using Mortgage Coach Edge more frequently.  I only utilize this for about 20% of my prequals and want to get it up to 80%.
• Take agents that don’t know me well out for coffee in the morning.  This is less expensive than lunch and takes less time.
• Find a better closing gift.  Something memorable but not too expensive.

Remember - this is my list.  What works for me will not translate over to your business and put 10 loans in your pipleling next month.  Marketing doesn't work that way.  What will work are the core principles of Visibility, Credibility and Likeability.

I am constantly analyzing what I am spending my time and money on so that I can be more efficient and still grow my business.  It will never be perfect, but that isn't the goal.  You don't have to be perfect to be a top producer.  It just takes hard work, focus and lots of passion.

When I'm busy...

Things have gotten a little bit busy.  I'm not complaining because that's a very, very good thing.  But I am working to be more intentional with my time to make sure I am keeping up with my marketing and relationships.  Last thing I want is for things to slow down once the loans currently in my pipeline are closed.  "Feast and famine" is NOT a good thing.

If you are experiencing the same thing (or hope to) then I thought it might be helpful for me to share what I CHOOSE to do when busy:

• Exceptional service on current pipeline.  I DON'T want my borrowers and Realtors to ever sense that I am too busy for them.
• Prospect tracking and follow up.  Every. Single. Day.
• Email to Realtors on Friday to let them know I am available over the weekend if they have clients with questions or that need to get prequalified.  
• Utilize my assistant to keep up on handwritten notes, birthday cards, surveys, etc.  It's the little things that keep reminding people that my business is based on THEIR referrals.
• Stay involved in and show up to WCR and Realtor events.  I am on the WCR board and the Community Involvement Committee and try to never miss a meeting.
• I go to every closing.  If you need an explanation on this one I'm going to smack you upside the head.

Here is what I choose NOT to do when busy:

• I rarely go to lunch.  I bring healthy snacks and eat at my desk.  My recent Vision Board party was a great success so I don't feel the need to take these ladies out to lunch for a while.
• I rarely socialize at work.  I have great co-workers and enjoy talking with them, but when I am busy I close the door to my office and work.  If I am needed, I will help in any way I can; but closing my door cuts down on social interruptions.
• I don't make as many outgoing phone calls to Realtors.  I have limited time and this is one of the tasks I choose to STOP when I get busy.  P.S.  If you aren't busy - DON'T stop this task!!!!!!
• I don't do pop-by's.  Don't get me wrong - I think pop-bys are a FABULOUS marketing tool.  I simply give up something good to focus on something better.
• I spend much less time on Facebook.  I still scan it once a day, primarily to stay tuned in to my Realtor community.

These choices fluctuate over time.  I may go back to making daily call to Realtors and stop something else.  I am always evaluating my time and the tasks I have to accomplish to make sure I am being as efficient as possible while still marketing for future business.

P.S.  Your have probably also noticed that the posts on this blog have slowed down.  If you want to look back, there are over seven years of ideas.  I haven't been very good at putting the posts into categories, but you can just scroll back and find tons of information.  You're welcome.

Do you have an extra 30 minutes this month?

Annual phone calls are a simple marketing strategy that VERY few loan officers take the time to implement.   Here's why YOU should start making these easy phone calls:

• No cost.  Zero.  Zip.
• Your past clients like you (if they don't then you have bigger problems than not picking up the phone)
• This takes less than 30 minutes.  If you closed 8 loans last year, you can call all these clients in about 30 minutes.   I'm pretty sure you are wasting at least 30 minutes at least once a month.  Might even be more than that. 
• Gives you an opportunity to ask for referrals.  Educate the client (again) that you work on referrals and prime the pump so they think of you the next time a friend, family member etc. needs a mortgage.

Basic outline for Annual Phone Call:

1. Reconnect.  "How are you?"  How are the kids, the new house, the job etc.  Hopefully you remember something personal about the clients and can show your interest on a personal level.
2.  Offer Assistance.  "Do you have any questions about your current loan?"  Let them know you are a resource, even if they make a payment to another company.
3. Ask for referrals.  "By the way, do you know of anyone looking to buy a home or refinance?

Business card stickers

I recently ordred business card-sized stickers.  The great guys over at Graffsters helped design this one-sided version of my business card.  I will be using these on all my promotional items that don't currently have my contact info.  

• Tote bags
• Bliss Chocolate's that go inside the tote bags
• USPS boxes
• Seasonal Drop in's  (plants, pumpkins etc.)
• Giveaway prizes that I donate to WCR luncheons or other events

The cost was only $76 for 500 shipped right to my door.  Pretty dang cheap!

Do you ask for referrals DURING the loan process??

One of my coaching clients and I were recently brainstorming ways to ask for business during the loan process.  You have a VERY captive audience that will read every word you write or email so this is a priceless marketing opportunity most LO's don't take advantage of.

Put 10 Thousand Grand candy bars together with ribbon and a handwritten note.  Use a USPS Flat Rate box to mail them to your borrowers about 1 week into the process of their loan.   Cost is about $10.

Here is a sample text for the handwritten note:

THANKS A MILLION for choosing myself and Security Home Mortgage to help with the financing of your new home!!  We are getting your file ready for underwriting and everything is looking great.

I work 100% on referrals and would greatly appreciate it if you would pass along one of my business cards (or candy bars J) to anyone you know that is looking to buy a home or refinance.  Have a great day!

 

My birthday marketing plan

I mentioned here that I loved the idea of sending birthday reminders to Realtors and I've been wanting to implement this for quite some time, but I haven't even been sending birthday cards out myself so I had quite a bit of work to do to get this rolling.

 "Great intentions are like crying babies - they should be carried out."

So I finally kicked myself in the fanny and got a system put into place. Luckily I have an assistant that can help me once I decided how I wanted to manage the system etc.  I created a spreadsheet in Google Docs with a page for each month.  I've gone back to January 2012 and we input all the birthdates along with their agent name (if it was a purchase) so I can easily send a reminder to the agent.

I picked up a variety of birthday cards from the dollar store to have on hand.  I write a personal note and send a coupon for two free cupcakes.

Here's a sample email that I send out to the Realtor.  Of course I try to make it personal and add other things as I am inspired.

Subject:  It’s (name) birthday this week!

Hi (Realtor name),

I just wanted to let you know that (name) is having a birthday this (day of week) and I thought you might like to reach out with a birthday wish.

I hope everything is going well with your business.  Please let me know if there is anything I can do to help you or your clients.  Have a great day!

Thanks much!

Bliss

Homes for Heroes

Over the years, I have been approached by many companies looking for an affiliate relationship.  I truly haven't seen the value in these for my origination business or for the loan officers I train and coach.  A few months ago, Homes for Heroes kept popping up on my radar.  A couple of my coaching clients were becoming affiliates and a new member of my mastermind group was having great success with this program.

I decided it was time to investigate.  Homes for Heroes is a non-profit designed to give back to our hometown heroes.  This includes police, fire, current and ex-military, medical professionals and teachers. Rather than go into all the details here, I recommend you check out their website:  http://www.homesforheroes.com/

I became an affiliate earlier this month and have already received two leads.  One of those clients just got an accepted offer on a $350,000 home.  I am also connecting with two Realtor affiliates that I have been trying to get business from, but until now have not had any success.   I feel this is just the tip of a very big iceberg and plan to spend time developing my relationships with local police, fire and national guard.  Once I have done this, I will move on to teachers and then medical professionals.  

Homes for Heroes only allows one lender and one Realtor per zip code and I know that many areas are already reserved.   Check it out and see what is available in your area.

p.s.  This is not a paid-advertisement.  I simply believe in the system.

 

Car Decal

Back in Oklahoma, I place a pretty large decal on my car window and decided I wasn't comfortable.  Too much visibility.  Too much info.  So it took me awhile to get my head wrapped around this idea again.  I went smaller and less info.  

Works for me.

 

I was waiting for a clean car to post picture, but the clean car fairy hasn't visited for quite some time.

When you lock in a loan....

...ask for referrals!!

I was on a conference call with my bff's up in Alaska talking about asking for referrals DURING the loan process.  One of the Loan Officers (top-dog Ken Scott) suggested asking for referrals when we tell the borrowers they are locked in.  BRILLIANT!

I also think it is a great idea to send a confirmation of lock email and in BIG letters state "Now that you have such a great interest rate, I would appreciate it if you passed along my name to anyone you know that might be purchasing a home or needing to refinance."