loan officer training

 We’ve been hard at work preparing the video series of FSBO marketing instruction. Some of you may be asking yourself why we are going through so much effort and giving away so much information? (These video’s are jam packed with usable strategies) Of course we’re launching a new product, and we want to generate excitement. However, it’s rare to see a trainer give awway much more than:

“You have to WANT to be successful…Do you want it?” Haha… Ok, maybe I’m exaggerating a bit there, but not by much! The reason we’ve put so much time and effort into these video’s is because tehy WORK. FSBO marketing is such a hot ticket right now. One of my students just sent me an email begging for help because he generated more than 70 inbound leads from one of my campaigns last week… Think about it, how much money would you spend to generate 70 leads, of people who have contacted YOU?

Other than the cost of my site, this loan officer spent exactly $0 to generate. So far, he’s converting about 1 in 10 - 1 in 11… Not bad for free leads! (Psst… We’re doing a case study on him in 1 - 2 weeks to prove he is real since some of you may think it’s a fabrication. Haha)

My point? That if you’re hurting for business, and you’re wondering where your pipeline went, then maybe it’s time for you to give the FSBO market some attention? It’s a great resource as you can identify both the sellers who need financing, as well as the potential buyers inquiring about the property who also may need your services. Talk about a quick way to build your database!

Anyhow, if you need some instruction on how to set up your own lead generating campiagn, check out our latest video series at www.fsboleadportal.com/blog  (I’d place the video’s here, but I don’t want to hog all Todd’s bandwidth!!)  

 Here’s what we have so far:

- What you should know about FSBO Marketing

- The FSBO Secret

- How I earned 100k Working with FSBO’s

- What the FSBO Lead Portal can do for you  (JUST RELEASED TODAY)

www.fsboleadportal.com/blog

Good morning!

We’ve just launched video #2 in our latest FSBO Lead Portal training series! No strings attached, just great information! We’ve begun adding the series to a blog at www.fsboleadportal.com/blog. If you’re serious about earning more money as a loan officer, or a real estate professional, then this is the video series for you. Just follow the link and press play!

Chad Weber - www.loanofficermarketinglab.com

3 Things you Must Know…

In a difficult market, the smart loan officer will take a step back to review his/her options. No matter how difficult things become, the fact remains that millions of loans close each and every year. You have two options available:

1 - Improve your conversion ratio and make more out of the database and leads you already have

2 - Find a more reliable way to generate more leads

It’s that simple. You either make more money with what you have through improved sales skills and follow-up, or you find more sources of quality leads. Regardless of how simple this concept is, no one said it would be easy. There’s a reason it’s called work.

With this in mind, let’s take a quick snapshot of 3 skills that every loan officer should be working to improve to accomplish at least 1 of the goals listed above.

1 - Writing: The fine art of writing is one that is neglected by most in the sales field. I’ve always been stumped by this because there are many instances where a customer will move forward, or go elsewhere based on what he/she reads. You website, your emails, blogs, follow-up letters, advertisements and more all demand a well thought out message.

On the web, with thousands of other options only one mouse click away, the potential borrower will form an opinion in mere seconds based on what is read. A large majority of originators seem to rely on canned text from website service providers.

Sure, much of that text sounds glossy and professional right? In my own personal opinion, within this industry, “glossy and professional” might as well be “large and faceless.” Most people want to do business with a human, not a large and untouchable organization that conjures images of endless voicemail navigation just to reach someone.

Why not add a personal touch and let your personality shine through? Show your prospects that there is a person behind the ads, websites and emails. This doesn’t mean you have to become a professional writer of course. Rather, spend a few hours refining your writing skills. (a “how to” book can make a drastic difference) Even a minor improvement can equal a much higher conversion ratio, which I’m sure sounds good to most reading this.

2 - Sales: Yes, I do realize that I’m playing Mr. Obvious here. Sales skills are certainly needed in todays market. The sad truth is that the average sales professionals in the U.S. spends more time planning their vacations each year than they do on improving their one major professional asset - their sales skills.

As a trainer, I ask nearly every originator I meet with prior to coaching how they rate themselves on a scale of 1 - 10 when it comes to sales ability. It’s rare to hear anything less than an 8 or a 9! So are we all just that good, or are we just afraid to admit that there is room for improvement? Most career professionals with level 8, 9 or above abilities spend their whole lives fine tuning the subtle art of sales. Professional training and continuing education is a month to month reality for these individuals.

Yet in the mortgage industry, most just coast along secure in the belief that they are great at sales. Well, the closings per month usually tell the real story. What is your closing percentage? Do you track your numbers? (If not, how do you know whether you are improving or not?)

No one ever said that we all need to be ’super closers,’ but if you choose a career where your primary function is to sell, then how can you go wrong by giving this area some much needed attention?

Consumers do not just buy from the person who makes the most logical argument. Emotion, timing, calls to action all play a major role in who goes home happy with an extra loan in their pipeline, and who just goes home. If you improved your closing rate by 10%, what would that do for your paycheck?

3 - Follow-up: I consider this category a bit of a hybrid. It involes sales, writing, technology and more. I couldn’t leave it out of this list though, as there is a gaping hole in most lenders business plans that tends to treat follow-up as an after-thought.

Sure, it’s easy to knod your head and agree that follow-up is important, but let’s be honest with ourselves. Most loan officer’s follow-up ends as soon as they find out the prospect is no longer a prospect for an immediate closing.

Anywhere from 10 - 15% of your standard database will need the services of a loan officer each year. Refi, purchase, debt consolidation. There’s a lot of need out there, and unfortunately, most loan officer’s are not there at the right time simply because they failed to follow-up at regular intervals. A drip email campaign, occasional notices, a phone call placed at strategic time periods all would drastically improve the average loan officer’s closings per year.

Who wouldn’t want that? Give a little extra attention to these critical skill-sets, and you will find that great things can happen even in a “down market.”

Our Get Leads Now Teleconference begins in just about 2 hours.

When: 2:00 CST/ 3:00 est

What: Learn how to generate business marketing to real estate agents, FSBO’s and more

How to get in on the call: 

1 - You may listen in via your PC at:

http://www.talkshoe.com/tc/14502

2 - You may dial in at: 724-444-7444 PIN ID: 14502

That’s it! I look forward to seeing you on the call!

Chad Weber - Loan Officer Marketing Lab

www.loanofficermarketinglab.com