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.
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