3 BORROWERS WHO WILL NEVER SHOP YOUR RATES AND WHERE TO FIND THEM

One of the things we all wonder about as originators is how to compete with on-line and other lenders who simply buy the market. There are a number of strategies for dealing with this like positioning yourself as the Obvious Go To Celebrity Originator in your market.

But one of the best ways to deal with rate shoppers is to not deal with them at all.

HUH?
Yes, you read that correctly. If you know that your rates are never going to beat the on-line lenders just stop competing with them. You can do that by using these 3 sentences.
PICK A NICHE
BECOME THE EXPERT
LET EVERYONE KNOW ABOUT IT.

 

TO PUT IT MORE SIMPLY.
Work with buyers who can’t shop. There are 2 major groups of buyers who simply can’t shop rates and points since they don’t qualify. There is also a third group of buyers who generally won’t shop since they are under a time constraint and will follow the guidance of their attorneys.

The first 2 groups are buyers who have income or credit challenges. There are a number of Non- QM programs now available to these buyers who don’t fit FHA /VA/Fannie Mae guidelines.

THEY WANT A LOAN AND REALIZE THEY DON”T QUALIFY WITH STANDARD PROGRAMS.

There are now programs for buyers with very low scores. Buyers who have had a bankruptcy , foreclosure or short sale. There are also programs for buyers who are self employed or commissioned and have large write offs.
If you are interested in having a step by step way of generating new business with boomerang buyers check out this training http://boomerangexpert.com/special-offer

Here’s the formula.
Learn these programs by meeting with your NON QM reps.
Let everyone know about your expertise by writing about it and teaching agents and builders about these programs.
Go to the media because these programs are a great story that will get you exposure on TV , Radio and print publications. You could even place ads for these buyers on-line and off line.

THE THIRD GROUP OF BUYERS WHO DON’T SHOP.
This group of buyers are those that are referred to you by one of their trusted advisors like a CPA , Attorney, or financial planner. One of the best groups of clients I have found are those going thru a divorce.
Generally, when a client is going thru a divorce there is often a home involved and one of the spouses will be leaving the home. The spouse leaving the home may want to buy while the spouse remaining in the home may be legally obligated to refinance and get the other spouse off the mortgage and deed.

These buyers can be referred to you by their attorneys and their agreements often call for the refinance to be done within a certain time frame.

If you are a member of the Top Originator Mastermind I will be hosting this months training with the Director of the Divorce Lending Association. This is where I learned how to work with these buyers and also market my services to the attorneys. You can learn more about the Top Originator Mastermind at http://toporiginatormastermind.com/optin   

Or you can take a 5 day trial for just a dollar at http://toporiginatormastermind.com/onedollar
Start thinking about ways you can be unique and not only be judged by what your rates and points are. Doing this will immediately help you close more loans, make more money and finally have the time to enjoy life.

Dedicated To Increasing Your Production

Brian Sacks
Author of 48 Proven Ways To Immediately Grow Your Production and the Top Originator Software
available at https://48waysbook.com/sales-letter

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