Last week we spoke about our No. 1 marketing strategy (go back to see last week’s article if you missed it) and we told you how dangerous it is to only have one way of generating business. In fact, we even proved it to you.
So let’s continue that conversation. One of the biggest issues Sue and I see from the originators we speak with is their total lack of focus. To be fair, we totally understand it and suffered from it ourselves.
What do I mean?
When you are trying to do too many things you wind up doing nothing. Please re-read this. Here’s how it often works. You are working on a few marketing campaigns and then an e-mail arrives in your in-box or a postcard arrives in your mailbox.
It offers you the best thing since sliced bread. The newest shiny object. It tells you that you need to do this before everyone else gets starts doing it too. You are invited to a call and your greed glands get the better of you.
A few days later and you actually have dropped everything and started to implement the program you just invested in. Things are going well until about two weeks later.
What happens?
You are reading an e-mail and it talks about a brand new way to generate reverse mortgage business. It seems totally logical and like something you have been dreaming of. You can simply do X and the clients will be knocking down your door. Right? Be honest, you know exactly what we are talking about!
So of course you get going on this new program and set everything else aside. You want to implement. You need to implement. You need business and you need it right now!
But what happens?
You now realize that you have no new loans in the pipeline for the month and are starting to freak out. Then, as if by divine intervention, you get an e-mail about some guaranteed leads and of course you jump right on it!
This whole cycle causes failure.
If you try to do everything, you will wind up doing nothing.
We suggest having three or four main ways of generating new reverse mortgage business. At
See what’s working and work to improve it. Many cost zero dollars—just a little initiative. But the point here is simple. Don’t fall into the trap of the next shiny object. It’s great to try new things—we do it all the time. But first have three or four marketing techniques in place that working and you can count on to produce consistent quality reverse mortgage leads.
Brian Sacks and Sue Haviland are the co-founders of Reverse Mortgage Success. They have been in the industry for over 25 years and have closed over 50,00 transactions. Sue and Brian originate reverse mortgages each and every day and share their real world experiences with you at
