By staying updated with the latest mortgage marketing trends, you can offer innovative value to agents and stand out from your competitors. Your expertise in solid communication, and having a community of support dealing with any loans, such as conventional, FHA, VA, and USDA loans, will enable you to have the structure to bring your agents and clients the best experience possible, leading to more referred leads. This is why past database management plays a key role.
This will explain why so many LOs are having to tap out, while at the same time, some of my clients are having their best year ever… read on.
So likely you’ve heard of “Green time” vs “Red time”… but have you heard of GOLD TIME?
See, “green time” is when we are prospecting to agents and/or our past database to get more referrals. The more green time, the more green goes in your pocket.
“Red time” is when we are chasing paystubs, calculating income, you know the reactionary stuff. Don’t get me wrong, it’s important, but it holds you back from prospecting for yet another referral and another closing.
I was talking to Mark Pfeiffer (one of my private clients and a super cool guy who is very successful) the other day and he reminded me of something.
We need to spend at least an hour a day doing “Gold Time”. Gold time is when we are prospecting to somebody that is not referred to us yet.
You see, if we spend all of our time doing green time, which is prospecting more referrals from those that are already referring to us… that’s actually a problem.
Here’s what happens…
Over time, those people retire, move, quit, have a nephew that becomes a loan officer, life happens, whatever.
And over time, that list will dwindle down.
So even when things are going great, like Nate Carver (a member in the Loan Officer Freedom Club, a mastermind of top producers), who closed 7 loans in October, 9 in November, and 10 in December…
… he isn’t just calling those who are currently referring to him. No ma’am, no sir…
He’s spending a couple of hours a week calling on those that aren’t referring to him yet!
That’s where the growth is coming from.
Very important point.
So thanks Mark for reminding us of this.
Add some “Gold Time” to your “Green Time”.
Want to go over who to call and what to say to them to get them to start referring to you? I’ll Hook You Up Here <no charge>
