Tag: Mortgage Marketing Animals

“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.

“That’s small for me” he said.  I was taken back at first, and then realized he was right.

Let me take a step back and tell you what led up to this groundbreaking truth that all LOs should know about.

I was doing a private Zoom meeting with a loan officer who set up the meeting to discuss how to grow his business even more.

I asked him what his current volume was.

“My team did a little over $1Billion dollars last year,” he told me.  Knowing that my team still did more than that last year, but not too much more than that, I responded, “That sounds like a good solid number to me.”

But I saw the frantic look in his eyes, one of almost desperation as he blurted out, “But Carl, that’s small for me.  I know I can do so much more and I know you can help me.”

It then occurred to me he was right on both accounts, that number was small for him, and yes, I am known for helping LOs increase their loan volumes while decreasing their stress level at the same time.

So, when he said “That’s small for me”, I could see the desperate look in his eyes.  The same desperate look that loan officers have when they are closing 1 or 2 loans a month and they know that with just a few tweaks they could be at 5 to 8 loans a month.

Just like his own monthly mortgage payment was in jeopardy.

See, what normally happens is a loan officer gets to around 5 or 8 loans and they say to themselves, “This is good for me, this is what I’m capable of.” 

And then they back off and that’s where they stay… because in their minds, they have already pre-framed that 5 or 8 loans are “good for them”.

The real growth is when those people look at 5 to 8 loans is soooo much less than what they are capable of, look at that “low volume” as a reason to get frantic, and treat it like they are 3 touchdowns behind in the 3^rd quarter…

… That’s when mountains move…

Same thing for those of you closing 10 or 15.  Don’t be ok with that…

What if you found out that closing even more loans can come with even less stress?  When would you want to know that?

We all have to reframe that picture that we have of ourselves of “What is possible?”, or even, “What is POSSIBLY possible?”

That’s when the magic happens.  That’s when we see epic growth.  That’s when we begin to set real wealth for our family.  That’s when we can really give back to our community.

Now I’m not saying that we aren’t proud and encouraged by our / your current accomplishments.  You may have done very well so far, yes indeed.

But what if that is small for you?  When would you want to know…

When you are ready to see a walk-through of the all-new “Close More Loans Now” training site, Go Here and either me or my team will show you what’s available to help you Close More Loans Now.

I was hanging out with a buddy of mine, Tim, that owns an insurance company.  He was telling me how much better the insurance business is than the mortgage business because of residual income.

But see, he doesn’t know what you and I know…

First of all, the mortgage business is the best business I’ve ever seen. 

I’ve got a lot of friends that are in real estate, title, insurance, doctors, lawyers, restaurant owners, plumbers, you name it.

None have the unlimited upside like you and I have, AND the ability to call our own shots, and the option to be very successful AND have the evenings and weekends off (when done right, and myself and many others do it right).

You see, Tim thought that we get a customer, they borrow the money, we get paid (and we get paid well), and then we must find another customer.

What Tim didn’t know, is that isn’t how it works at all for those of us that have massive success following a plan.

First, we get a free army of salespeople that find the client for us… week after week, month after month, year after year…

… we call this free army of “lead finders” real estate agents…

<gasp>, that’s right.  We market to agents, and then the customer is naturally attracted to the houses that agents are helping to buy and sell, and then the agents refer them to us over and over, again, and again, month after month.

I call that “residual”.

I do a lot of upfront marketing to the agents, then once they start referring to me, our team simply closes them on time and gives a weekly update via a phone call (which we ask for more referrals on).  And that’s all the agents want.  We don’t have to buy them leads, they are the successful agents that get their leads from their listings.

But wait, there’s more…

Once we close them, we turn on our past database marketing program.

We call them 4 times a year with a proven script, we snail mail them once per month, and we send out a weekly email (not about mortgages… remember, they already closed).

Doing that, we average 1 to 2 closings per 100 people in our database each and every month. 

By the way, MOST of those closings that we get from that isn’t the past client.  It’s their friends, family, and co-workers that they refer to us.

Then we close them and follow up with them and they refer us even more friends, family, and co-workers who are buying homes or need a debt consolidation cash-out refinance.

Just like clockwork and resulting in a very predictable income…
… month after month, year after year, ummm, kind of like residual income…

The difference between my insurance buddy and you and me is, in the insurance company he gets a few hundred bucks year after year.

Whereas you or the average LO gets $3,000 (more or less) of profit every time we get a closing…

over and over and over…

Not a bad gig.

The secret sauce is, we have to simply follow the very simple plan and have the right scripts and say them to the right people.

I love this industry.

When you need help with mapping out the plan, or if you want to use the same scripts that my team uses, I’ll give them to you <no charge>>

These are the same scripts that our members use. 

We’ll show them to you here on a demo call.

Just click here and it’s yours for the asking.

See what you’ve been missing.

“I know you are tired and scared to move forward.  But what does it cost to stay?”

That was my response to a LO that I was talking with this week.

You see, she was asking about how to bring in more leads, and she was hesitant to make phone calls because of the ol’ call reluctance thingy.

Now let’s say she was following the Daily Success Plan…

I’m sure we can agree that when she is calling on agents that are closing at least a buyer deal each month, that when she is calling those agents with a proven script, I would imagine if she did that for 2 hours a week, for sure she is likely to bring in another deal each week.

That’s 4 more closings each month right there.

And let’s say she’s calling the listing agents of those 4 deals, using a proven script, and she does it each week, can we agree that at least 1 of them would send her a deal..
That’s a total of 5 more closings each month so far.

Let’s say she calls her past database and let’s say it’s a smaller one, say 300 past clients (or friends and family in the area she is licensed) with a proven script that has shown to give about 1 closing per month per 100 people in her database.

That alone with being another 3 loans.. each month.

Now we are talking about a total of 8 more closings each month.

And finally, let’s say she calls all the borrowers that she has previously pre-approved, and she checks in with them every Thursday morning to see how the house hunting is going and to make sure she reminds them that she is their lender.

Can we agree that at least 1 of those would close with her that may have been led astray to another LO if she hadn’t been in weekly contact?

So now we have a running total of an extra 9 closings each month.

And I’m of the belief, based on my own experience, these are actually very, very conservative numbers and not a stretch at all.

Now let’s say she makes $3,000 per closing. I get it, some of you more, some of you less, but just as a national average.

9 extra closings would be an EXTRA $27,000 per month.

That adds up to an EXTRA $324,000 per year.

Where I come from, we have a saying, “Every $324,000 helps….

Hmmmmm

So as you are reading this today. I know you may be tired.  And I know you may be hesitant to move forward.

But what is it costing you to stay at your current level?

If it’s the ol’ call reluctance, which is usually just a simple “I’m not sure what to say to who”, I can help you with that.

Hit me up here and either myself or one of my team, who I have personally trained, will solve that problem for you forever… and for no charge.

You are worthy, it’s your turn now.