HEADS OF LETTUCE AND LOAN OFFICERS

We just started our Boomerang Implementation program and I am thrilled to be sharing with other loan officers how to profit from this special niche that will soon be the most important in our industry. BTW- I have coined the term “head of lettuce loan officer” to be anyone who is a generalist and NOT a specialist. Because you are view just like a head of lettuce commodity based solely on price and not expertise.

Just this morning I sat down with a couple in their 50’s. To put it simply they are broke. Both financially and mentally from the experience they have been thru. They are selling their beautiful home ( forced to) and buying a 2 bedroom condo. Unfortunately- we have a bit of work to do. They have scores in the 560’s not because they don’t pay but because their credit cards are maxed and they have ZERO in savings. Not a great place to be in your 50’s but many good people “melted down” during the crash.

EVERY DAY I SEE THIS – DO YOU? For the past 90 days I have been keeping a record of calls and just as I assumed the calls have confirmed that 35% of the people I have spoken to have a credit issue. Anywhere from low scores to a bankruptcy to a foreclosure or short sale. You should spend time understanding this group. Know what their challenges are both mentally and financially. Learn the resources and tools you can use to help them. They will be your best referrals, they will never ask your rate or shop you and the agents they deal with will love and respect you because of your expertise. Which brings me to a lesson for you! Ready? You should always talk less and listen more at your first meeting with a prospect or client. They will tell you exactly “how” to sell them. Are they visuals? Are they kinesthetic? Are the auditory? I once did an entire seminar just on this topic because it is THAT important. You must connect with your buyers and understand the emotions that are underlying what you are hearing. The clients I spoke about earlier were almost in tears when I met them. I think they understood their situation and were just embarrassed.

MY RESPONSE– It’s not your fault- ( let them off the hook) and you will be fine once we get your home sold and these bills paid off. You will finally be able to breathe and be happy with all that debt finally gone. You could see their facial expressions change and how their physical posture. Those are both things you SHOULD be paying attention to. It’s also one of the reasons I prefer meeting with my clients rather than just speaking on the phone.

Next time you meet with a client or prospect keep this article in mind and if you know of anyone else who would benefit from it send them over to www.agentschaseyou.com

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Brian Sacks – Top Originator

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37 New Realtors Instantly?

HOW TO GET 37 REALTORS TO INSTANTLY SEE YOU AS THE OBVIOUS EXPERT

We all struggle so hard to get Realtors to give us business. Frustrating isn’t it. I am not going to go into the obvious solution- which of course is to get buyers pre-approved BEFORE agents get to them. This question always puzzled me. I would drop off rate sheets. I would bring food. I would beg. I would have lunch. I would spend hours doing open house spread sheets. I would worry! I could go on and on but I know you get the point and feel the pain too. Then it dawned on me. Why not go where there the Realtors are. Where there are NO BARRIERS and in fact you are welcomed as a respected guest. Do you have any idea where this magical place might be?

IT’S YOUR LOCAL BOARD OF REALTORS. You should join and become active in your local board. This is a way to meet Realtors in a friendly setting as a peer instead of a vendor or beggar. But there are more opportunities as well. Realtors like loan officers need continuing credit hours to renew their license. Why not teach a class? It could be on any topic related to mortgage financing , even a basic mortgage course for new Realtors.

Next week I will be teaching a 1.5 hour continuing credit course at my local board. The course will be on How To Increase Your Closings Working With Boomerang Buyers. There are already 37 Realtors signed up and we will likely have double that. SO IMAGINE FOR A MINUTE The board has now promoted you and ( your expertise) and your course. The Realtors in attendance now get to meet you and know you and like you instead of meeting them one at a time. The fact that you are teaching- shows them you are an expert. TRY THIS- you will leave with new relationships and probably a few new loans!

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Brian Sacks – Top Originator

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This has increased my open rates and responses by 81%
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FOOLISH MISTAKES LOAN OFFICERS MAKE

Since today is April fools it dawned on me to share with you all of the foolish things we do as loan officers. Here are a few of the most FOOLISH mistakes we all make Becoming An Advertising Victim. This is a common mistake we all have made or continue to make. Never use just brand advertising to “Get Your Name Out There” It’s far more effective to use targeted marketing that can be tracked and accountable to you for every penny you invest. Not Having A System For Automated Follow Up. Let’s be honest with each other- None of us follow up with clients and prospects as often as we should. We get busy, distracted and just simply forget. You must have a systematic system for following up with your prospects and partners that doesn’t involve you each time. Not Marketing To The Easiest Customers You Have. Too often we fail to market to or follow up with the clients and partners we already work with. The best source of new and continued business is referrals because they come to you already pre-sold. Each and every month you need to follow up with these folks and have systems in place to generate referrals. Not Being An Offensive Communicator. Agents care about how much you know but more importantly they need to know you care. Do you contact them weekly with updates or do you simply wait for them to call you screaming? Do you let them know when there are issues or better yet- do you know when issues come up or do days go by? Being A Generalist Instead of A Specialist. I am famous for saying you need to be a specialist and for coining the phrase HEAD OF LETTUCE syndrome. Look at any field and the specialist always is better respected and earns more than the generalists. You need to pick a specialty – become the expert in that niche and then let everyone know about your expertise.   Naturally there are more FOOLISH MISTAKES than these but if you commit to mastering even just a few of these you will quickly see a HUGE spike in your income.

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Brian Sacks – Top Originator

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www.AgentsChaseYou.com

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