marketing

[brendo927]

surprised you didnt get punched.....some of those wal-marts man.....crazy lol.

[Erik]

Clever approach, Mamoore. I'm sure you got quite a few laughs that way.

[jimswainbbmc]

Trick I used to use was going into bookstores and browsing through the mortgage books and related books "Mortgages for Dummies", etc. Anything on selling your own home, reference books for Real Estate, Real Estate exam books and such. I would then insert a business card in the Table of Contents pages for each book. Once I got caught by one of the clerks, and when I explained what I was doing, he looked at me and told me what a great idea it was. Turned out he had just been turned down by two banks, and turned into a loan. I now have a card display, approved by the owner, on the counter by each register, and one in the Real Estate reference section!

[Tamilyn718]

MaMone,

I didn't do this but it worked for my sister-in-law who is a Mortgage Broker. She would contact realtors and tell them that they have a client who is purchasing a home for some ridiculous amount like $800k (those are far and few between). The client would be someone who works for her mortgage company or family/friend. She would provide the prequal letter and they would go out looking for homes in that price range, the realtors were all over it. They would look at one or two homes and then the "buyer" would decide they are going to move out the state, or keep there current home -- they would have some sort of reason to not pursue buying a house. The realtor would be so appreciative of a client prospect looking for a house that expensive they would still send her loans in hopes that she would send them more buyers.

She had a database of Realtors and she would just shuffle through it with the same scheme. I thought it was kinda bold to trick them, but it got her loans and a new Porche truck! Is that new and out the box for you??

What are some other things that worked for you?

[Tamilyn718]

Oh, I wanted to mention that I would not suggest anyone tricking the Realtors it is obviously unethical.

[Thills]

That is just Shady and wrong. The exact kind of person I feel should be thrown out of the industry!

Originally Posted by Tamilyn718

MaMone,

I didn't do this but it worked for my sister-in-law who is a Mortgage Broker. She would contact realtors and tell them that they have a client who is purchasing a home for some ridiculous amount like $800k (those are far and few between). The client would be someone who works for her mortgage company or family/friend. She would provide the prequal letter and they would go out looking for homes in that price range, the realtors were all over it. They would look at one or two homes and then the "buyer" would decide they are going to move out the state, or keep there current home -- they would have some sort of reason to not pursue buying a house. The realtor would be so appreciative of a client prospect looking for a house that expensive they would still send her loans in hopes that she would send them more buyers.

She had a database of Realtors and she would just shuffle through it with the same scheme. I thought it was kinda bold to trick them, but it got her loans and a new Porche truck! Is that new and out the box for you??

What are some other things that worked for you?

[mamoore]

I would never do that either. WOW. I also doubt that it would even work. I don't know for sure because I have never tired it nor will I ever even consider it. THAT IS NOT THE WAY TO GET REALTOR BUSINESS.

Most of the time its a pleasure working with realtors that know and trust you, unfortunately you don't always get to use "just Your" realtors. I have to say that most or "the other" realtors are very difficult to work with. I have had some heated conversations with many of them. Its part of our business and if someone had a good handbook on how to avoid that .... please send it to me.LOL

Now, with you calling up and saying you have an 800k preapproval or what I call a "phantom loan" and you are doing it as a mean prank to one of "those realtors" Now that would be funny. Jerky boys funny. Imagine how quick they pull out there pay matrix to see what the are gonna make. Roflma and if you could land one as the buyer and seller agent. Holly cow that is funny.Illegal , mean and really funny.

But who ever did that wasn't pranking and was trying to get business????where on earth would that ever work. Like turn left to go right, down really means up and cold is not cold,but hot. I just don't get how that would work.

I can tell you that the best way to get realtors to give you business is to give them Business. NOT FAIRY TALE BUSINESS.

I also think that by finding new realtors that are just starting out will be more than happy to give you a deal after all of the deals that you gave them.
Now don't get me wrong.... don't feed the realtors. Remember We are better sales people that realtors. Do I hear an A-men? Really .and part of sales is to find buyers not liars. If your giving a realtor business and after a few deals you are not getting any credit apps to run THEN you run. Find a new realtor.

Also I would give "your realtor" one deal to start and make sure they don't try to send it to their in-house lender.I cannot tell you how many times that has happened to me. I stop it dead in its tracks usually. Now once the realtor is giving you business, DON'T STOP GIVING THEM BUSINESS. I am not saying that you have to bust your A S S but you need to give them a FAIR number depending on the volume they are giving you.

If you get a new realtor that is just starting out, most of the time you will win over that realtor for life. You were not the one who trained that realtor, you were not the realtors agent or mentor. YOU WERE THE PERSON WHO HELPED THEM MAKE MONEY.

If you don't know how to get preapprovals to refer to realtors you need to become a realtor because it seems as none of them can do it very good either.Please nobody get mad at that . I am just stating what I have found. They all seem as they get their business from referrals.Well , that is what they say anyways and I don't buy it. Its just their way of saying... IM fabulous and people remember me. Think what you want about that.

BUT

If you think like a realtor for one minute about how they would generate business and how it could help your mortgage business. They go after fsbo,renters, advertise, expired listings , relocation, and internet. HMMMMMM

I think that most of the Mortgage brokers who have been in the industry for a while and that are successful could do a better job and with little effort. It really is not that difficult. At 1st it may seem a bit time consuming but our industry is not a 9-5 job and if your working 9-5 your not taking full advantage of the income potential.

I will also ad that in order to get business you have to have a monthly routine that is filled with many different weapons in your arsenal.

Thats how you do it.

Always be honest in what you do and you will go very far in this industry BTW.

Although I did get a good laugh about the "phantom client" I do not agree with that .

BTW I have always liked listening to the jerky boys.

Late

[Greg]

Sorry for the delay but that is very sly.. I like it...

[florida man]

mark

you really seem like a decent guy to me. I am sure you are going to do very well and make many friends.

p.s. I am not the biggest fan of realtors.........but i will give that a shot.

[Tamilyn718]

What do you all think about this letter? I'm trying to target Married Women who don't know they want to move yet, LOL. Anyway, I think that instead of loan officers having to "woo" the Realtors for their business, the Realtors should be WOOing us loan-officers for our business because we do get people pre-qualified before they even go looking and in some cases, they may not have Realtors yet. So I crafted this letter to appeal to Married Women who don't know they want to buy a new house yet, and at the same time have a pool of people that need to be referred to a Realtor because they are making an impulsive decision (in some cases). I tried to make it non-sales like...I'm trying to appeal to them. I know how women think and most of us have to convince our husbands to move anyway, so buy writing a personal letter to the wife, she can start working on her husband. Then I'll follow up with a letter to the husband. If you are a man, this letter can easily be tweaked and you still will get calls because all women love a man that understands them. So instead of the traditional "sales' letters, why not have one that really gets deals with psycology?

Here's how the letter goes:

Dear Jane,

Are you thinking about moving into a kitchen that has more space, a nice yard, and a bigger kitchen? Well now is the time to start looking for that house because it’s a buyer’s market and you know how us women love a good bargain.

I can help by pre-qualifying you for a new home, and as soon as you’re approved, you’ll get listings with houses that match your criteria. I understand when we get excited about something – we want it now and today! So that’s why if you work with me, you won’t have to go searching for a Realtor because we have one that is already excited to speak with you about all the amenities you need in your new home the moment you are pre-qualified.

At Royal Park Mortgage, our clients are people we have long-lasting relationships with. You are not just a dollar figure. If you have a problem, call us. If you need advice, call us. All free of charge.

If you have credit problems, don’t worry. We can help you even if your credit score is 560. But you have to shop now while the market is “on sale”. Call me and I’ll make sure you get the money you need to buy that perfect house that all women want.