Karen Deis

While the biggest real estate broker show in the U.S. is the National Association of Realtors annual convention, there are many local Realtor associations that hold their own, mini-trade show that showcases their vendors and suppliers, including mortgage companies.

Are you getting frustrated that no one is commenting on your Facebook posts? I recommend that about one-third of your posts be about business, while another one-third should be personal, with a short post (and pictures) about what you have been up to lately. And finally, one-third should be fun—such as asking personal questions that you’d like your friends, real estate agents, family and fans to answer.

The biggest compliant when is ask if a loan originator is doing anything with social media is—“Yeah, I know I need to do it—but can’t seem to find the time!”

I just completed a killer interview with Denise Phillippi, a branch manager in Overland Park, Kans. Every single week, she has at least one file transferred to her (requested by the real estate agent or the buyer) because her competition simply screwed up.

I have a friend who manages 12 apartment complexes. He has tracked the turnover rates of tenants and year in and year out, 62% of the tenants move after one year. Another 28% move out after the second year and the remaining percentage live in the complex three years or more.

Every successful loan officer has a "to do" list. But, consider what your life and your income would be like if you write down the things you will stop doing, the stuff that wastes your time and costs you money.

It used to be that if you called the FHA Hotline to find answers to your underwriting questions, you’d be on hold forever. Worse yet, if you used their advice and it was wrong, you’d could not trace who gave you the answer—nor would they give you the chapter and verse from the HUD manual.

It’s been said that if you get four leads (phone calls, pre-apps), three of those leads will take anywhere to three to six months to buy a home (or refinance). Out of those three leads, 90% of them won't end of doing business with you!

Here is a script for mortgage brokers to sell against bank loan officers.Now don’t get me wrong; I’m sharing this script (written by a mortgage broker) because brokers need all the help they can get to sell against loan officers who work at traditional banks.

Did you forget about the $8,000 tax credit for military and certain federal employees? A little-known (and mostly forgotten) provision of the Home Buyer Tax Credit bill that became effective on Nov. 6, 2009, is that certain military personnel and Foreign Service employees have an extra year to purchase a home and qualify for the tax credit.

Who is your competitor? There are three types of competitors (in the mortgage industry)—those within your company because you compare yourself to dollar amounts and closed deals.