The other day, a loan officer asked me "what's the first thing you recommend that I do if I were to reinvent myself?"
I asked, "Why would you want to do that?" and she answered, "because the way I have been doing business just isn't working anymore."
It happened to me-I was transferred to take over a mortgage branch, about 1,000 miles from my old stomping grounds and did not know a single, solitary soul. While there are hundreds of different things you can do, my belief is to pick the one or two systems that will get you the most money, the fastest. Here are the four things I would recommend where you'd spent your time but very little money until you started making some:
1. Set up a database. It could be as simple as an Excel spreadsheet, or off the shelf ACT! Software, or any one of the mortgage database online systems that are out there. This won't take much time, but this is absolutely the first thing to do. Even if you don't have anyone to put in it yet, you will. Consider this your "annuity" for future business and leads.
2. Set up a corporate benefits program. Quick description here: Creating a list of savings/benefits for the employees of corporations, church groups, groups you belong to, labor unions, etc. Then calling on the decision maker and offering your "mortgage benefits package" as a benefit to their employees or members. It's extremely inexpensive to implement but think of making one call and getting your info into the hands of thousands-all at once. Check out
Send out five letters a month with the goal of signing up one company/group per month
3. Set up a Facebook Fan page. Start posting mortgage rules and regulatory updates that affect real estate agents. Ideas on how to increase their business. Financial news. Links to ActiveRain.com blogs. Post every other day. Refer real estate agents to your fan page. Put a link to your fan page within your e-mail signature.
4. Set up single property websites and start calling on real estate agents with the advantages of working with you. First, it's a way to get your foot in the door with real estate agents since it will only cost them 50 cents per listing per month. Secondly, it's the easiest way to get leads-for both you and the agent. That's why you needed to set up your database first. (Visit
The Corporate Benefits System and Unfair Advantage are designed to get you leads. Your Fan Page is your "online personality" where you develop a global community. Your database is your "bank of business;" this is where the money is made. Do you see how all of these work together? Especially if you are in the process of reinventing your business.
