DEC 2, 2013

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Part 3: Technological Considerations for Leading in the New Mortgage Marketplace
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Marketing Maven

Searching for New Originations


I recently talked with a loan officer who was totally depressed. She had just closed the last loan in her pipeline. She saw her glass as half-empty. She couldn’t get out of the funk that she was in. She wanted to know what to do.
So, I posted this question on my page: What do you do when you need to get more business in the door?
I received a ton of responses and would like to share some of them with you. By the way, thanks to everyone who contributed—some really great suggestions were posted.
• Start calling real estate agents and affinity partners and take them out to lunch. Take the opportunity to ask what they do when they need to bring more business in the door.
• If you have a Realtor email database, start adding emails to your list from your local homes magazines, or from real estate company websites.
Start emailing them a tip of the week and ask a question that will generate a response.
• Grow your database by consistently adding five new contacts a week and keep in touch regularly.
• Invite five or six agents to lunch and “mastermind” about how to get more leads.
• Do research and position yourself differently from all the other loan officers. Give them a compelling reason to do business with you.
• Get more active using social media to connect and converse with everyone about the mortgage market and your local real estate market, and become the expert in your area.
• Call clients who have adjustable-rate loans or home equity lines of credit and offer to refinance them.
• Let everyone know what you do for a living.
• Add family and friends to your email/address database and ask them for referrals.
• Attend Realtor open houses. Visit 10 of them in one day with the goal of getting face-to-face appointments with three of them.
One out of three will end up referring deals to you. Do this for 12 weeks and you’ve got 12 real estate agent referral partners to market to.
• Call everyone you did loans for over the last few years and ask them if they’d like for you to review their mortgage, and offer to provide them with a free copy of a credit report.
• Become their teacher. Show agents how to use social media and different phone apps, teach them how to read an appraisal, etc.
• Hold buyer seminars for the next three months.
• Change your “attitude.” If you think you are in a funk, you will be depressed. Don’t feel sorry for yourself. Act as if you are confident and in charge.
• Call on real estate offices using “pop-bys.” To learn more, go to
• Use SLYDIAL to call real estate agents and clients with an update on the financial markets.
• Call on 20 people per day. This should consist of five past customers, five people you have already pre-approved for a loan, five Realtors or builders, and five of your friends and/or family and/or affinity partners.
• Read Michael Maher’s book, “Seven Levels of Communication.” It’s a blueprint to success.
• Do a live workshop by partnering with an escrow company. Limit it to 15 to 20 people, by invitation only, and take the “mastermind” approach.
• Consider marketing to apartment complexes.
• Go through your declined files and either check to see if the mortgage product and underwriting guidelines have changed (so the loans are now approvable), or offer to update their credit report to see if their scores have increased.
And finally here is some advice from a business coach, Victoria DelFrate from
“It’s always scary going into a new month with a “goose egg” in your pipeline. When you are the captain of your own ship, you must always view your business in two parts: the work we do to wow our current leads and customers, and the work we do to keep new ones coming into our sphere (i.e., networking, marketing, database mining).
“Your calendar is your biggest ally in ensuring you keep these two plates spinning at all times.
“Enter a weekly recurring reminder on the day(s) of your choice to engage in marketing activities, such as networking groups, asking for referrals from your current clients, calling past customers, submitting articles/Facebook posts/blogs, co-marketing strategies with your Realtors, farming neighborhoods, holding one-on-one business growth brainstorm sessions with other types of professionals in your sphere of influence, etc.
“There are plenty of angles, but committing to your own list of strategies and a plan that you stick to through good times and bad is what will ultimately eliminate the 'goose egg’ for good.”

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