Loan Officer Marketing

“What’s working now?’, you may ask, well it seems like it’s what has always worked.  Check out this interesting case study.

Doug Adamson and his wingman Reid Thompson (2 of the leaders in our Loan Officer Freedom Club) started reaching out to their database for the first time ever.

In the last 90 days, they have called everybody from A-Z.

Now most LOs wouldn’t do that because of the fear of “I haven’t called in forever and I don’t want to sound weird…” kind of crap.

Well, they pushed through all those fears and just followed the script.

The results of this case study?

$1.4M in closed volume.  Let’s just assume 100 basis points for this study.

That would be somewhere around $10,400 in the LOs pocket.

Wait, it gets even better…

They have another 10 loans that are likely coming from it because they have an additional 10 pre-approved and looking buyers that came from it already too.

That should shake out to another $3M or so in volume or an additional $30,000 in loan officer pay on top of the $10,400 they already have for a total of $40,400 from just the 1^st round of calls to their database.

Keep in mind, this is something that I have found maximizes the number of closings for you if you call them 4 times a year.

This case study was just from 1 round of calls to a database that had never been called before… that’s like a worst-case scenario.

It’s just a simple set of calls with a proven script.  Nothing more, nothing less.

I call it “Good sales activity instead of wasteful busy work”.

Keep this case study in mind as you journey through your work day.

When you are ready for the details of who to call, when to call, what to say to them, what voicemail to leave, and how to push through any call reluctance, I can help you with that.

Just Go Here and I’ll hook you up to walk through all the details for free.

After all, every $40,400 helps…

Carl “Your Wingman” White

Here’s a simple idea to help eliminate the “last-minute rate shoppers”.

I was on a brainstorming Zoom call a couple of weeks ago with my homie Jay O’Brien.
He shared with me an idea that I’m sharing with you now.

As soon as your pre-approved prospect gives you the thumbs up on a new purchase mortgage for them, send them a “Moving Kit”.

.. You know, a handful of empty boxes, some tape, and Sharpie magic marker kind of thingy.

This does a couple of things:
1. It actually helps them.  Hard to go wrong by actually helping people

2. It assumes the sale.  It’s like putting a ring on our spouse’s finger.  “Hey, we are doing this together.”

3. You become partners on their new move and they would feel guilty about shopping you at this point.

It’s not that this would work 100% of the time, nothing does, but I can see how this would really help solidify “the sale”.

For me, I think we are going to send out a “Moving Kit” right after they sign the disclosures and we have contract in hand.

I found this link to a company that sends it out to the home they are moving from for me here.

I have no affiliation with this company, I just googled “Moving Kits’ and this is what popped up.

Then on my Tuesday morning “Just Ask” calls (or what some may call the update calls), I will ask if they received the moving kit, and then of course end that call with our call to action script to get even more loans from their friends, family members, and / or co-workers. 

On what I would perhaps pay for some useless “closing gift”,  I’m going to get a “Rate Shopping Stopper Gift” instead / or in addition to it…

Just sharing an idea as we are all in this together ☺

Jump on Loan Officer Breakfast Club to get more cool ideas that we share every Monday through Thursday at 8:30 am EST.