About The Deal This Originator Lost To Me

I had an interesting conversation with a client yesterday and there are so many valuable lessons in it that I wanted to share it with you so you can use some of these takeaways in your business.

An email was sent to my inbox about a prospect who had called in and wanted to speak with me about a refinance. I immediately knew the name as someone I went to high school with and hadn’t seen since.
We were not friends in high school and didn’t really travel in the same circles.

So I called him back and he told me all about his life from high school to present.  He explained his financial situation to me and went on to tell me all about the Loan Officer who had helped him refinance the last time.

What a great rate he had given him . The wonderful advice he had provided to him and how wonderful he was to work with.  Apparently he had used this same loan officer when he bought the home 15 years ago and again when he last refinance 5 years ago.

SO I ASKED HIM 2 OBVIOUS QUESTIONS.
I asked him why he was not going back to that originator and how he had even found me.

There are some BIG LESSONS in his response.

To my first question he told me that the guy never stayed in touch with him over the past 5 years and he honestly could not remember his name or the name of his company. He had tried to look thru some old documents but then got tired and gave up.

That Sunday he was watching WBAL TV and saw me come on with my mortgage segment. He remembered me from high school and felt I did a great job on that appearance explaining the current market and giving advice.

In his mind his file is a bit complicated but the facts are that he has an 800 credit score paying off a first and second with good ratios and a 59% ltv – but he felt he needed an expert and that was how he viewed me. He did not go to an online lender or respond to a facebook ad or get a name off a placemat or billboard.

HERE ARE YOUR TAKEAWAYS…

ALWAYS – ALWAYS- That means always stay in touch with your past clients

Make Sure YOU ARE ALWAYS seen as the Obvious GO TO EXPERT in your city.

DON’T BE THAT LENDER !

Dedicated To Increasing Your Production
Brian Sacks
toporiginatorsecrets.com

BTW- I cover many ways you can generate these type of situations in your area in the
48 PROVEN WAYS TO CLOSE MORE LOANS manual and the upcoming Celebrity Originator Program.

PPS- I have had some questions about the 48 Proven Ways Program-
It is a 1 time payment — no recurring charges ever for the system or the software and you have a full 90 days to check it out for yourself RISK FREE
Once we reach 1000 originators ( we are very close) the price will double.
You can see what’s it all about right here if you are not yet a member

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DANGER AHEAD IN 2019 ARE YOU ON TRACK FOR 2019 – DO YOU EVEN KNOW?

DANGER AHEAD IN 2019
ARE YOU ON TRACK FOR 2019 – DO YOU EVEN KNOW?

We are in a very dangerous time as originators. Rates are low and people who never thought they could ever refinance again are actually refinancing.  Most originators are very busy right now.

THAT’S GOOD BUT ALSO VERY DANGEROUS!
When we get this busy it’s very easy to sit back and think it will just continue this way forever. Of course, I have been at this for almost 35 years so I know better. But the danger is getting fat and happy and ignoring the basics like continuing your marketing efforts and maintaining your relationships.

HAVE YOU EVER KILLED SOMEONE WITH KINDNESS?
During a recent refinance boom a while back I actually referred a number of refinances to one of my biggest competitors in my area. No, you read that correct.
This lender had made some major in roads with some of my bigger agents and I wanted to get rid of him.

So I simply referred a number of refinance leads and prospects to him. He couldn’t thank me enough and I happily sat back and watched as he got fat and happy and ignored these agents. Most have returned and never left again because of my focus on purchase business.

NOW LET’S TALK ABOUT YOU FOR A MINUTE.
We are midway thru 2019 and so far it’s pretty darn good. But do you actually know where your business is coming from? Are you on track to accomplish your goals? Do you even know what your goal is and how to accomplish it?

HERE ARE SOME QUESTIONS TO ASK
You should sit down take out a sheet of paper or open an excel sheet or even better you can use the Top Originator Software I created at 48waysbook.com

Now  be honest with yourself ok?

  1. WHAT IS YOUR INCOME GOAL? ARE YOU HALF WAY THERE?
  2. HOW MANY LOANS DO YOU NEED TO ACHIEVE YOUR GOAL?
  3. WHAT IS YOUR AVERAGE LOAN AMOUNT?
    Are there ways to raise that average?
  4. WHERE IS YOUR BUSINESS COMING FROM?
    You need 3-4 Pillars of business just like a chair with 4 legs.In my case I have the following Pillars.
  5. Agent Business and referrals  Direct To Consumer (turning renters into loans)
  6. and Publicity ( radio /tv /articles)
  7. Niche Buyers – Boomerang Buyers and Buyers going thru a divorce.
  8. Referrals from past clients and other professionals like attorneys and accountants

    WHAT HAPPENS IF YOU DON’T KNOW?

    First, if you don’t have a goal and the plan for attaining it you simply can’t succeed.
    If you have a plan and don’t track your progress than it’s worthless. Each month you should be evaluating your business. Think of it like being on a road trip and making sure you are still on the correct highway and knowing how much longer until your destination.So now you have your homework assignment. Get to work!

    Leave your comments below and if you would like the one of a kind software that will help you create your plan – monitor your progress along with 48 PROVEN WAYS to Immediately Grow your  production visit https://48waysbook.com/sales-letter/

    Dedicated To Increasing Your Production,
    Brian Sacks
    Author of the best selling manual and software for orignators
    48 Proven Ways To Immediately Grow Your Production
    https://48waysbook.com
    and the creator of the Top Originator Secrets Blog Http://toporiginatorsecrets.com

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WHAT BRUCE LEE CAN TEACH ORIGINATORS

WHAT BRUCE LEE CAN TEACH ORIGINATORS

Bruce Lee, the famous martial arts master had a very famous quote that I believe all mortgage originators can learn a great deal from.

I don’t fear the man who has practiced 10,000 kicks. I fear the man that has practiced one kick 10,000 times.”

Now let that sink in for a second before you continue ok?

As originators we are always trying to grow our business.  We want agents to send us business and we invest in scripts and coaching. But most of the time that leaves us just wondering why we aren’t succeeding to the level we want.

Then we see an ad promising us that we can buy leads so we try that. Wait, how about the ways to get business from Facebook, Instagram, and of course the new bots that are being promoted.

DON’T MISUNDERSTAND! SOME DO ACTUALLY WORK.

But the problem with operating this way is that you are treating your business like a ping pong ball and hoping something will work. Now go back to the wisdom Bruce Lee stated above.

You are far better going deeper than wider.

That may sound confusing so let me explain and even give you some examples.

Have you ever said you want Agent business?

Of course you have but have you actually tried to figure out a plan or are you just hoping to meet agents, use the script you just got, and hope they will use you and be loyal?

Let’s do some calculations for a second ok.  Let’s say you want to earn 100,000 a year. Your average loan is 200,000  and let’s just say you earn 100bps per loan.

So you need 50 loans a year to earn your 100,000. Of course, some will fall out and some will be higher or lower than the 200,000 average.

 

YOU DON’T WANT OR NEED EVERY AGENT TO DO BUSINESS WITH YOU !

If you can identify 12 agents who sell 4 houses a year you will 48 closing a year. Now instead of constantly trying new things to find new agents you can actually start to build deep relationships with these 12 agents.

The same goes with your other marketing efforts. If you want to be successful you need to go deep on 3-4 strategies that you can make work for you and that can generate consistent new business for you.

The problem with most originators is that we all suffer from marketing ADHD. It’s far better to do 3-4 things better than anyone else in your market than it is do all 34 tactics and get the poor results you may be experiencing.

Become a Bruce Lee originator and practice 1 thing 10,000 times until you have it nailed down before you move on to the next shiny object!

Dedicated To Increasing YOUR Production
Brian Sacks
PS- Want to discover 48 PROVEN WAYS to grow your production and finally have a software that
keeps you on track and shows you what is working and what is not?
Visit https://48waysbook.com/sales-letter

 

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