Last week, I answered part of the following question from one of my One On One Closed Door Coaching members.
Coach,
I have a bit of a situation. The loan officers in my office are mild producers and I feel that I am dragged down by their nonproducing ways every time I am in the office. I have found that I have less distractions, think clearer, get more work done, and have more of a positive attitude when I am away from the office and working at home. Once I move into my condo, I was wondering if I should just work out of the home and do loan apps there as well. I'm biased, but it's a nice place and would have no problem bringing clients in there. But we are moving to a new location soon where I will have my own room, right now I am sharing space. So maybe it will get a little better there but I must admit I love working from my home and truthfully, I really don't get consumed by distractions (TV, etc.). What do you think?
NAME WITHELD
Virginia
While I have no problem with this member working from home, I do think it is a major problem for him to be taking applications from home. My feeling is that you have one shot at a first impression and you want to impress your client with your office, clothing, and presentation. I am not in favor of dressing casually. You are the originator that will most likely be handling this person's largest financial transaction. You should be wearing a nice pair of slacks, shirt, tie; maybe even a suit.
Secondly, for negotiation purposes you need to meet them in a place where business is conducted. Your home is not a professional office.
As an aside, there are many crazy people in the world and I would never ever recommend you letting people know where you live or even going to their home. It is sick to say but we live in a crazy world.
Back to the negotiation. When you meet a client at their office or home they now control the environment and what distractions are allowed or not allowed. You could be in the middle of an application and they may be interrupted by a co-worker or take a call that could last an hour. In their office or home you are on their turf and have lost the psychological edge you need to win the negotiation.
At your home you have also lost that edge because it is not a professional environment. Nor should it be it is where you live.
Your client needs to see you in your office, where your secretary greets them and has them wait in the lobby while they read your testimonials, articles you have written, learn associations you belong to like Narlo.com, MBA, NAMB, or any other propaganda you can provide them to positions you as the expert in their eyes. Now you will have the psychological advantage and win the negotiation every time.
Some final thoughts.
I think it was Earl Nightingale that said, "If you are stuck and don't know how to market yourself, simply look at what everyone else is doing and do the opposite." No truer words have ever been spoken. I know I did exactly that when I started in the business. That is exactly why consumers ask us about price. We all look alike and are saying the exact same thing, so price is the only way they can tell us apart. I mention this here because this person has shared with me the things he is doing that are unusual.
He is teaching courses at his board of Realtors so he can easily get new Realtor business and be seen as the expert.
He is using targeted multi-step direct mail campaigns.
He is sending an unusual type of monthly newsletter that is earning him a lot of referral business.
He is advertising in homes magazines and on cable television.
He is using a unique type of website that is not just a pretty brochure, but is designed to convert visitors into closed deals.
Everyone in his office thinks he is crazy for using these strategies. The good news though is that he is achieving all of his goals and is producing a steady stream of new buyers each and every month that are providing him with a six-figure income. These are all the ideas that his tired, unsuccessful, burnt out, veteran co-workers are telling him will never work.
Bottom Line: Be very careful who you listen to. Look around at what everyone else is doing and do just the opposite. Work on your business not just in it. Don't allow yourself to be distracted. Finally make sure you are always professional in your appearance and only take the application or pre-qualification in your office so you have the psychological advantage.
Brian Sacks is the CEO of
