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LUCKYBMAC
87 Posts |
 Posted - 01/04/2008 : 6:01:50 PM
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I'm a loan officer in Long Island, New York. I didn't come from money and have to pay for all my own things a lot earlier than a lot of people usually do, including college from high school. With that aside, I really want to increase my business. I purchased $2000 worth of new fresh leads but Im having trouble finding telemarketers to call them. What are some other ways to increase business besides knocking door to door?
I know mailing flyers work sometimes but are their any cheap ways of doing it? I also need to get motivated for this year, can anybody who has continued success in this business offer some advice?
I'd appreciate it, god bless all. |
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Tsnyder
8256 Posts |
Posted - 01/04/2008 : 7:01:46 PM
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ditto
Tsnyder
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LUCKYBMAC
87 Posts |
Posted - 01/04/2008 : 7:02:13 PM
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| Well I do call them myself... I just want another 5 guys calling even more leads with me to increase the percentage of getting a deal |
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Refiman
40 Posts |
Posted - 01/05/2008 : 12:16:38 AM
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Prime Outlet,
Who do you use for your hosted dialer? |
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chaplin
2 Posts |
Posted - 01/06/2008 : 10:49:43 AM
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My credit is so so and I am contemplating Bankruptcy - does credit have alot do to with being able to be licensed? I have read that felonies and law issues can be considered an obstacle, but thankfully my credit is the only sticking point - I havent got a criminal record.
I am very excited to begin training and I am not going to let anything deter me in my quest to be the best, most informed L.O. I can be . Any replys would be appreciated. Thank you. |
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RANDY P
2826 Posts |
Posted - 01/06/2008 : 12:01:12 PM
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quote:
Originally posted by chaplin
My credit is so so and I am contemplating Bankruptcy - does credit have alot do to with being able to be licensed? I have read that felonies and law issues can be considered an obstacle, but thankfully my credit is the only sticking point - I havent got a criminal record.
I am very excited to begin training and I am not going to let anything deter me in my quest to be the best, most informed L.O. I can be . Any replys would be appreciated. Thank you.
Check with your state first to see what happens in the event of a BK but I would assume that you need to give your license up before the BK to avoid any nonsense with them looking in your files for potential fraud.
In WA state there is a huge penalty if you file BK before you turn in your license - There has to be a reason for that.
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RANDY P
2826 Posts |
Posted - 01/06/2008 : 12:02:15 PM
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quote:
Originally posted by LUCKYBMAC
I'm a loan officer in Long Island, New York. I didn't come from money and have to pay for all my own things a lot earlier than a lot of people usually do, including college from high school. With that aside, I really want to increase my business. I purchased $2000 worth of new fresh leads but Im having trouble finding telemarketers to call them. What are some other ways to increase business besides knocking door to door?
I know mailing flyers work sometimes but are their any cheap ways of doing it? I also need to get motivated for this year, can anybody who has continued success in this business offer some advice?
I'd appreciate it, god bless all.
If you have 2,000 fresh leads you'd better get on the phone, quick. That's too much if it's real recent mortgage inquiry data, especially if it's exclusive.
Better not to bite off more than you can chew.. |
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RANDY P
2826 Posts |
Posted - 01/06/2008 : 12:05:02 PM
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quote:
Originally posted by Prime Outlet
ME. 
quote:
Originally posted by Refiman
Prime Outlet,
Who do you use for your hosted dialer?
Interesting, please check your email. |
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chaplin
2 Posts |
Posted - 01/06/2008 : 12:51:58 PM
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| I dont have a license yet but are you saying that it would have a consequence BEFORE I get my license or if I am already licensed I have to GIVE it up? for how long? Or I do I just need to disclose IT? PLEASE CLARIFY? I am going to be licensed in N.J. |
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RANDY P
2826 Posts |
Posted - 01/06/2008 : 1:33:46 PM
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quote:
Originally posted by chaplin
I dont have a license yet but are you saying that it would have a consequence BEFORE I get my license or if I am already licensed I have to GIVE it up? for how long? Or I do I just need to disclose IT? PLEASE CLARIFY? I am going to be licensed in N.J.
I don't know how it works in NJ - but yes, you generally do not want to BK AFTER you get your license. In WA state if you intend on BK and you have a LO license the state says better to turn it in PRIOR to the BK filing or else big trouble.
It's a pretty clean cut case, you need to get a hold of whomever oversees the industry in NJ and get a ruling on it. I don't think you are going to be banned for it assuming there isn't signs of creditor fraud - heck, have the industry would fail on that behalf.
Good luck
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arscherer
169 Posts |
Posted - 01/08/2008 : 9:37:06 PM
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quote:
Originally posted by LUCKYBMAC
I'm a loan officer in Long Island, New York. I didn't come from money and have to pay for all my own things a lot earlier than a lot of people usually do, including college from high school. With that aside, I really want to increase my business. I purchased $2000 worth of new fresh leads but Im having trouble finding telemarketers to call them. What are some other ways to increase business besides knocking door to door?
I know mailing flyers work sometimes but are their any cheap ways of doing it? I also need to get motivated for this year, can anybody who has continued success in this business offer some advice?
I'd appreciate it, god bless all.
That is quite a bit to spend all at once on those leads (just my opinion) especially if you don't have anybody else in place to help out right now.
Other ways that you can increase business: (1) Talk with Financial Advisors, (2) Talk with Realtors, (3) Talk with Estate Planners - this is more for Reverse Mortgages, (4) Talk with Real Estate Attorneys, (5) Send out cards to all of your friends and family telling them how great your 2007 was and how much you would appreciate a referral to make 2008 even better, and (6) Call your previous contacts or clients that have done business with you (not necessarily closed the loan, but people that you have spoken with), and see if they know anybody that is looking to finance a property.
As you can see from the examples above, I am definitely all about conserving money on marketing campaigns, and I am very particular with how I run my business. I wish you the best, and please keep me updated on your progress, or let me know if you need any help with anything (since I am right over in Connecticut). |
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kathy49
23 Posts |
Posted - 01/09/2008 : 4:45:53 PM
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Andy gave very good advice. And he is correct. I've been doing this for a very long time so learn from my mistakes and don't reinvent the wheel until you have this down-pat. I dont' like buying mortgage leads either. Never have.
I will just add a few things: Join a good Chamber of Commerce. People like working with people they like. If you are younger and single, go hang out at 'your spot' where you will get to know many people eventually. And have fun. I talk to tax preparers also; realtors; lawyers; financial planners; etc. I also keep in touch with a few mortgage buddies so that if one of us can't do a particular loan, we refer. I also belong to a monthly network group that is free. Call on FSBO's.
I also send out birthday cards/anniversary cards to my clients every month. WE have a company newsletter that I send to my top 20 referral sources on a weekly basis. But nothing beats 'personal contact.' Trust me on this one.
Set up goals for yourself. Picture it. Put it on your mirror so you see it when you get up in the morning. Put it on your computer. "Get one loan today."
Organize your goals. Write them down. I want to make $100,000 this year. That means I have to generate 100 loans and close them. Go by quarter; month; week; daily. You are your own boss here and must answer to yourself.
I will accomplish this goal by: calling on realtors, etc....
Establish an inner core ;outer core and ; and supplemental core of referrals. 10 should be in your inner core that you contact at least three times a week. Your outer core should have 15 that you contact at least once or twice a month. The supplemental core should have approximately 10 people that you contact at least once to twice a quarter. When one leaves the inner core, you bring one in from the second core, etc. Really, this works. Keeps you focused!
And don't go home until you return all your calls! Very important.
I hope to hear you are doing well in 4 to 6 months. Good luck. Kathy49 |
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arscherer
169 Posts |
Posted - 01/09/2008 : 6:38:35 PM
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quote:
Originally posted by kathy49
Andy gave very good advice. And he is correct. I've been doing this for a very long time so learn from my mistakes and don't reinvent the wheel until you have this down-pat. I dont' like buying mortgage leads either. Never have.
I will just add a few things: Join a good Chamber of Commerce. People like working with people they like. If you are younger and single, go hang out at 'your spot' where you will get to know many people eventually. And have fun. I talk to tax preparers also; realtors; lawyers; financial planners; etc. I also keep in touch with a few mortgage buddies so that if one of us can't do a particular loan, we refer. I also belong to a monthly network group that is free. Call on FSBO's.
I also send out birthday cards/anniversary cards to my clients every month. WE have a company newsletter that I send to my top 20 referral sources on a weekly basis. But nothing beats 'personal contact.' Trust me on this one.
Set up goals for yourself. Picture it. Put it on your mirror so you see it when you get up in the morning. Put it on your computer. "Get one loan today."
Organize your goals. Write them down. I want to make $100,000 this year. That means I have to generate 100 loans and close them. Go by quarter; month; week; daily. You are your own boss here and must answer to yourself.
I will accomplish this goal by: calling on realtors, etc....
Establish an inner core ;outer core and ; and supplemental core of referrals. 10 should be in your inner core that you contact at least three times a week. Your outer core should have 15 that you contact at least once or twice a month. The supplemental core should have approximately 10 people that you contact at least once to twice a quarter. When one leaves the inner core, you bring one in from the second core, etc. Really, this works. Keeps you focused!
And don't go home until you return all your calls! Very important.
I hope to hear you are doing well in 4 to 6 months. Good luck. Kathy49
Kathy, thanks for the reinforcement on that one! I definitely forgot to mention the Chamber of Commerce idea; this is extremely important to do and is very very essential to a business plan (and a lot of fun, too). The Chamber of Commerce that is local to me hosts "business after hours" which basically is a grand ole time to get together with all the other business, shoot the breeze, and have a couple of drinks while networking!
Another thing that I wanted to mention as well, leave your business card wherever you go, and whenever you go out. I have been known to give my card as part of a tip to the wattresses (P.S. they have a tip calculator on the back and my picture on the front). I have also spoken to local business and eateries that pass out my card in the bill jacket to help with a tip calculation...just a little "outside the box" thinking that is cost effective as well! |
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ulrguy
316 Posts |
Posted - 01/12/2008 : 2:57:54 PM
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try www.specialclient.com
good postclosing follow-up service |
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