Mortgage Marketing Animals Issue 1

THE LOAN OFFICERS’ INNER CIRCLE

MEMBERS ONLY EXCLUSIVE NEWSLETTER

LEADING LOAN OFFIC RS TO FREEDOM

ISSUE 1

THE 4-PART FORMULA YOU’RE MISSING OUT ON FINISH YOUR FIRST BRIDGE, THEN MOVE TO THE SECOND

“Half-built bridges” is a term I like to use when people jump from one project to the next without finishing the previous one. For example, let’s say you just found out about Facebook marketing and decide you want to get started with that. You get signed up and are really getting into the process,maybe 80 percent done with it,when you see there’s a new LinkedIn ad.You immediately jump into this second project, leaving the first incomplete,

about your history and the things you’ve achieved up to this point and rationalize if it’s a strategy you are likely to complete.An excellent method to approach this step is to start out with a simple project and then move on to somethingmore complex. If I start a project and realize that I’m not going to complete it on my own, I may need someone to helpme get through each step. The third step is “Can I delegate it?” In other words, once I’ve made my first dollar, once I’ve completed it and have it up and going, is this something I can delegate to somebody else? I’m getting closings and money to hire somebody to help me so that I can delegate this out. I’m receiving the benefits from this strategy, and someone else is doing the work. I get it up and going,make it sound, and make it better, and then I can depute it. If I’m unable to delegate it, I’ve just created myself a job, and I don’t want to do that, and neither do you.We’re looking to build a business, not a job. Finally, the fourth step of the formula is “Does it look like fun?” In other words,will you enjoy working through this strategy? Let’s face it: People like doing what they like doing. If you don’t enjoy something— if it’s more of a chore for you—you’re not going to want to go through with the project. If I’m not fond of a project, I end up sabotaging it because I want to deal with it as little as possible.Go with a strategy that you’ll enjoy, and you’ll find the project as a whole will run much smoother. I tend to keep a little spiral notebook in the front left pocket of my jacket,where I keep a list of good ideas I hear. I write themdown so I don’t drop the original project that I’mworking on at that moment. I make sure that I finish bridge No. 1, then I look in my notebook and start working on bridge No.2 and work throughmy four-part formula all over again.The positive effect of this strategy is that once I finish a project I’mworking on, I get the feeling of victory in my head and have money in my pocket.

and while you’re researching this new ad, you learn about a new marketing technique fromYouTube.You hop from one stretch to the next and never finish the first one, and that leads to problems. When you never finish a project, you won’t get the results you want.You might be 3–4months down the line and think, “Geez, none of this works. I’ve tried everything, and none of it works.” That’s because you never finished anything you started.The real secret to success is to focus on one bridge at a time and not to leave your bridges half-built. What’s a strategy to fight against this? I have a four-part formula that I use so I’m not starting a bunch of projects all at once.The first thing that I do is look at all of the strategies available and decide which one is going to make me the first dollar or the first closing, not which one is going to make me the most closings or the most dollars. I choose the one that’s going to give me the first one the fastest.The reason why this is important is that once we have income coming in and we can start hiring assistants to help us out, it changes everything.Things will become much easier once you get some money in your pocket. The second step in this formula is “How likely am I to complete this strategy?” This one takes brutal honesty.You have to think

Carl White

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TYLER OSBY SHARES HIS WISDOM MEMBER SPOTLIGHTS

ON HOW TO USE GOOGLE

Tyler Osby shares his knowledge of why it’s important to use Google. One of the most essential things you can do in marketing is to list your business on Google. Let’s face it — if someone is looking for a mortgage company, they’ll start there. Let’s go back 10 years. It was once essential to be listed in the phonebook if you wanted to have any success in your profession.

and have access to your positive reviews. This strategy will give you an advantage over your competitors. Your first step should be to claim a location. To do this, Google will ask that you submit the address of your business to verify that you have an address. This is what they call the “Postcard Dance” — a little strange, I know. They only want to ensure that your business is legitimate. It’s all part of the listing of your business, and when you enter the pin they give you, your company name, hours of operation, and location will be at potential clients’ fingertips. There are many benefits to being listed on Google. You get organic findability and proof that you are an excellent business. You can also run ads through Google, which will help your company be more findable. With these ads, you can drive your name to be featured in the top results that come up when a person first Googles for a mortgaging company in your area. Every month, I’ll share a quick tip you can employ to build your business. With next month’s article, I’ll go over the steps needed to get great reviews and why reviews are so important. Stay tuned!

Today, no one looks at a phonebook, and many people don’t even have one. The current phonebook is Google, and the approach is very similar. Much like you would provide the phonebook company your information to list you, today, you need to do the same for Google. What I recommend people do is to claim their position in Google; that way, when someone is searching for a mortgage company in your area, your name is likely to come up. You’re in a better position to get reviews as well. When you have as solid and consistent position on Google, searchers can view all the information about your company

PERSISTENCE PAYS

CHUCK WALDEN – SENIOR BRANCH MANAGER

Chuck Walden, Freedom Club Member and Coach, shares his story of how he followed up with a potential partner for 40-plus weeks before he won them over. Once upon a time, there was a real estate agent who I met, and she told me we would definitely do business together. So, as Jim Carrey would say, “So, you’re telling me there’s a chance.”

persistence, so, I kept calling her. Right when I was about to give up on her, I sent her a video, letting her know how many weeks I had called, and how disappointed I was that we hadn’t talked or connected in over two years and reminding her that I had called 117 Mondays in a row. Low and behold, she called me! I’m now seeing a steady stream of referrals and I’m looking forward to seeing where our relationship goes. Carl White tells you to follow up with someone for 12 weeks, but I’m telling you that that’s a minimum, not a maximum. Every time I get an agent to refer, that agent is worth $25,000 a year, so, yes, everyone is worthy of a longtail follow-up. Bottom line — do the things you are supposed to do consistently and be persistent. I’m living proof that it works.

Obviously, she was put on my Monday call list, and after 12 weeks of calling, she had gone silent.Well, I’m a big fan of

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‘I’M ALREADY PREAPPROVED’ SCRIPTS WITH SCOTT

The following script was first developed by one of our coaches, Michael Mann, and recently posted by Pinky Shah (Freedom Member), and she enjoyed great success with it. “I’m already preapproved …” “Hey, that’s great that you’ve taken the first step. Congratulations! My job as a Realtor is to look out for your best interest as the buyer and as the client. You see, you as a buyer have the right to choose whomever you want for a mortgage. However, over the past few years, the mortgage industry has changed drastically. I’ve had some really horrible settlements with lenders I don’t know. (Give an example here.) “I felt horrible for my clients because I couldn’t control the transaction. I couldn’t pick up the phone, and I couldn’t tell the loan officer to get this done because these clients need a place to live. I felt really bad for them. You can choose whomever you would like for your mortgage. However, I’d like you to talk to [insert LO name] mortgage team, because I have direct access to them and do a lot of business with [insert LO name] team. She’s never left my clients or me at the closing table. She guarantees that she closes on time. In fact, we often have a clear to close way in advance, and she typically sends the wire a day in advance. No other lender in the area does that. She is very prompt and proactive in updating you. “That’s why I work with [insert LO name]. I urge you to have a conversation with her team. If you don’t work with [insert LO name] and her team and you choose to work with [other lender], quite frankly, you’re going to be on your own when it comes to getting a mortgage. I couldn’t help that family I mentioned to you. There was nothing I could do, and I felt helpless. Do you want me to have [insert LO name] team give you a call and at least have a conversation with her? “[Insert LO name] lives here in our community and has a great reputation to protect. If something goes wrong, there’s someone to be held accountable. If you’re working with someone out of Indiana, they don’t care. It doesn’t matter to them. This gal is vested in the community. She’s right here. I can call her up and say, ‘Hey, you better get this done or you’re not getting any more of my business.’ Quite frankly, I have a little bit of control over [insert LO name] and the mortgage team.”

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WHAT DOES A DSP MANAGER DO?

Kristen is one of our Freedom Club coaches. As part of our teaching, we advocate for our members to hire a DSP (daily success partner) as part of their business growth plan.We are often asked what a DSP manager’s responsibilities are. Below, Kristen describes what those responsibilities entail.

3. Update your past client database with their current contact info — cell phone for husband and wife, email for each — and confirm home mailing address. “We are planning a client appreciation event and want to make sure we have your info.” 4. Select and get printed mailers to your database each month. They can hand-address the mailers, place the old-fashioned postage stamp, and get them off to the post office by your selected date. 5. Set up weekly emails to past clients in your database. Example: “What is going on around town this weekend?” 6. Help call past clients in database three times per year, and text the final quarter with a happy holidays message. 7. Update your past client database with whom they use for insurance, accounting, financial planner, attorney, etc. If they don’t have these relationships, this is an opportunity to add value and send them recommendations. Likewise, your recommendations can be reached with a new referral of a client needing their services. 8. Call pre-approved and looking clients. Help them dream- cast and get excited about looking for a home. 9. Text real estate agents on Thursday to see who they have who needs a prequel for the coming weekend. 10. Send out Agent Mastermind invites weekly to your agent referral partners. 11. Book lunch-and-learns or possible CE classes that you could teach. Make invites, and plan for location, PowerPoint content, refreshments, follow-up after, and sending thank- you-for-attending notes, etc. 12. Reach out to banks for their turn-down biz. They keep the deposits, and you save the mortgage deal for them. 13. Reach out to State Farm Insurance agents for turn-down business. They keep the insurance client. 14. Reach out to dead leads and prequels for the past year and see if they are still interested in purchasing a home. This can be done with a simple text explaining who you are and “Are you still interested in purchasing a home?”

Picture having your office humming, with your loan partner and processor getting your leads in the door and to the closing table. You are now free to do what you love — getting out of the office and meeting with referral partners. While you are away, you can have your DSP manager (aka marketing assistant) working on a variety of tasks to drive new business through the door. Here are some suggestions to get you started: 1. Coffee Appointment Relationship Success a. Research agent prior to appointment on Facebook, learning hobbies, family, etc. This will help you with FROGGING. b. Text agents after coffee: “Thanks for your time! It was great to finally meet you!” c. Send a follow-up note card to agents after you have attended a coffee appointment. d. Friend agents on Facebook after your coffee and like and comment on a post or two. e. Tuesday of the week after coffee, be Mr. Schmooze and send a “one thing” gift. f. Week two after the coffee appointment, send a personal note from you to agents. g. Week three, text them: “You popped in my head, and I hope you are well.” 2. Get yourself set up with various third-party tools for efficiency, such as Phoneburner, BombBomb, CRM, or a texting service.

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15. Assist Realtor referral partners with marketing to their database for them. You get the benefit of growing your database in the process. This is great for LOs who do not have a database yet. 16. Help edit and upload video messages from you to clients and agents. 17. Attend closings with a gift and take photos of the happy buyers to post on your social media. 18. Follow up with clients to get five-star reviews on Facebook, Zillow, and Yelp after a closing or at the closing. 19. Offer occasional office overflow assistance with follow-up phone calls to borrowers for documents needed. 20. List reports for referral partners.

WHAT FREEDOM MEANS TOME These tasks do not require any mortgage experience. Then, as time goes on, if they want to grow into learning the business, they can, or they can stay in the current marketing role. These services can be done in your office, or they can work from home. Generally, we see this person doing this role for $10–15 an hour. It can begin on a part-time basis, but as you can see from the list, this could easily be a full-time role. Keep in mind, their efforts are very trackable and therefore they are not a liability to you. They will be an asset to your team by driving in new business traffic. 21. Call existing real estate agent referral partners each week, building the ongoing relationship and asking for referrals. 22. Book coffee appointments with real estate agents. They may or may not be suited, as that role is more of a telemarketer, and not everyone can do this job. However, some can for the short-term.

CRM TIP OF THE MONTH

JEFF SHEALY (FREEDOM CLUB MEMBER)

The competition is fierce in today’s economy. Successful loan originators follow up with clients on a regular basis to ensure loyalty and referrals. From credit score tips to refinancing tips, there are many ways you can keep in touch with your clients. Spend one hour today to understand the built-in email templates in Jungo so you can put new clients on the right drip marketing campaigns in just one click. AUTOMATING CLIENT FOLLOW-UP CREATES CLIENTS FOR LIFE

This is my “why.” My wife (Monica) andmy 14-year-old son (Triston) had the opportunity to go to our church’s first mission trip.We visited our sponsored children in Honduras.Meet Brayan ... this kiddo is amazing! Freedom is knowingmy team is fully capable of handling the files and calls while I’mgone. I am truly thankful for this experience!

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CALL RELUCTANCE WILL KILL YOUR BUSINESS (IF YOU LET IT)

I hate for that to be the introduction to this post, but I thought it best to put it right out there. It’s better that you hear it from me now than from your future empty bank account. So what are some of the factors that cause call reluctance in the first place?

will get it done. When your desire is bigger than whatever is blocking your path to it, you will make your calls. If you aren’t dialed in to the fact that you are making it possible for people to live in their dream homes because of that call you’re about to make, that’s a problem too. You have the potential to change people’s lives. When you really “get” that, there’s no phone big enough to stop you from making that call. When you find your groove in making calls, you find your sales rhythm and you create momentum in your business. You find that you look forward to making sales calls and having conversations that matter in the bigger picture. You finally figure out that this isn’t about you — this is about what you can do for the person on the other end of the phone. And when they know that, your business will grow naturally. I’ve been a mortgage loan officer for a long time now, so I can tell you one of the biggest secrets that I know absolutely works to be successful in our industry — be humble. Just show up. Get out of your own way by focusing on the other person. Share how you can help someone get what they want. And make the calls. I am so passionate about this topic that I sat down with one of my friends — Kevin Gillespie, one of the top trainers in our business — and we wrote a book. In fact, it’s a best-selling book. And you can get it here: CrushingCallReluctance.com. If call reluctance has ever been, or is right now, a factor for you, I’d love to hear from you. I want to know your story about it — how it showed up, what it did (or is doing) to your business, and how you overcame it (or why it’s important to you to overcome it right NOW). I’m serious — let me hear from you below. And if this is something that’s a problem for you right now, I really want to hear from you. Know that you can get past it — I promise you. Every great salesperson has had at least a brush with this, and a good many — including me — have gotten smacked by a big, heavy dose of it. Maybe it’s a rite of passage. In any case, don’t let it kill your business. Instead, consider this your invitation to crush your call reluctance — I’m here to help.

First, let’s talk about your personal sales-esteem. When I say that, it’s about your self-confidence when in a sales scenario. Maybe you’re new to sales, or you’ve got experience but you’ve heard no a lot or had people take out their frustrations on you when you’ve called before. If your sales-esteem is low, that would make it hard to pick up the phone, no doubt. Naturally, another factor is not knowing what to say. Those first few seconds on the phone (or in a first face-to-face meeting) can be a little chilly or awkward if you’re not ready with something to say. If distractions are in the way, like tweets singing your name or email pinging you or even a root canal at the dentist, it’s hard to focus and make good calls. Another good reason is if you don’t have the contact information in front of you and you have to hunt around for it. That extra step is enough to put off making calls — believe me, I know. Maybe you think you need to have more discipline and, if that’s the case, I’m here to tell you that discipline is overrated. Why? Because if you want something bad enough (think Chunky Monkey ice cream late on a Saturday night), you

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FROM FACEBOOK MESSENGER MORTGAGE LEADS AND DEALS

Did you hear about the company that raised $20 million in investment capital without even having a website? The name of the company is Threads, and their entire business model is selling luxury goods to consumers via instant messaging and bots.

We show ads to those people inside their news feed, on news sites they are reading, and inside their instant messaging apps. The ads are designed to repel the low-quality tire kickers and attract new borrowers who want to get approved for a loan. The basic offer is “Use our brand-newmortgage bot to find out howmuch you qualify for and at what rate.” When an interested prospect sees the ad and clicks the call-to-action button, a new Facebook messenger chat window pops up on their phone, and the bot starts engaging them with questions and guiding them through the application process. They give us information on how much they are looking to borrow, how soon they are looking to close their loan, what their credit score is, whether they are working with another lender, and so on … They give us all this information before we ask them to opt-in and give us their contact information! This has become an incredible new way to automatically qualify your Facebook leads! We have put together a fantastic training that gives you a demo of the bot and shows you how to build your own for your mortgage business. Check it out and get to work! chatbotsformortgageleads.com We’re looking forward to sharing with you next time!

The basic concept is that people join a conversation with an automated bot, tell it what brands and items they are shopping for, and the bot will instant-message them links to buy what they are looking for. Get this: The average order cost is over $4,000! Yep, the future of commerce is here, and it is all about instant gratification and instant messaging. We are now at the forefront of using this technology to help mortgage consumers connect with mortgage lenders. Think of it like a short-form loan application that you used to take over the phone with a new lead. Now the conversation happens over Facebook (and Instagram) instant messages, and the entire process is automated! Here are the basics of how the process works: We use Facebook and Instagram to target people who are spending time researching real estate,mortgage rates, etc. (Stay tuned for future articles on how to get fantastic quality traffic.)

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TOOLS WE USE TO CONDUCT OUR BUSINESS TOOL TIME: MIGHTYTEXT

UPCOMING EVENTS:

Loan officers can use MightyText to follow up on leads, keep in touch with agents, and follow up with clients. One of the most commonly asked questions is “What’s the best way to text your agent and your clients?” Years ago, emails were the primary communication method, but now the average person can expect to get 150 or more in the span of one day. Interestingly enough, emails get opened at best anywhere from 2–14 percent of the time.Texts, on the other hand, are read—or at least opened—98 percent of the time. Texting can be a powerful tool, but you have to automate it. You don’t want to be sitting down for an important meeting or getting coffee with a client while your phone goes off every few seconds. It’s for this reason that many of us choose MightyText to manage our text message communications.

MightyText is an app that can be accessed from your computer, phone, or tablet, allowing you to send SMS and MMS fromwhichever device is most convenient for you. The bonus to this is that you don’t have to send the messages yourself. Sending texts through your computer is not only faster, easier, and more efficient than texting on your phone, but it also allows someone else to take the reins. Instead of worrying about your phone blowing up with text messages, you’ll have the flexibility to respond to them in an appropriate manner. The downside to this tool is that it does not work with iPhone’s (IOS).We recommend purchasing an android phone to download the app — you can buy a cheap $90 phone to work from. Eager to try? You can download the app here: mightytext.net/#featurewrap and find out more about the app here: help.mightytext.net.

“Get More Loans” Mastermind Event Nov. 30 through Dec. 2 ,Clearwater, FL Freedom Club - Branch Academy (Members Only) Dec. 3rd ,

Clearwater, FL Freedom Club Mastermind (Members Only) Dec. 4–5 , Clearwater, FL

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