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johncm
481 Posts |
 Posted - 02/11/2008 : 07:23:09 AM
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You read this whole thread and yet you ask that question of who.
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Originally posted by LoanShark357
Do you know of an honest lead generator. I have not found one yet. mlcrouse@comcast.net
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Originally posted by BrokerCA
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Originally posted by raymondb
Internet Leads-dead market. the problem lies in the fact that the consumer is the shopper. They enter their info into numerous web sites to get quotes not knowing that one site may be and probably is selling their information over and over again. so even IF you can find an honest sales rep somewhere the lead it self may be being sold by other companies and resellers which saturates your quality leads actual quality. This is just not my cup of tea, no matter how much sugar you put in there its still nasty....
I have to disagree. Do you have any evidence customers enter information into more than one website? More likely the lead originator will sell to a lead supplier who then resells to multiple brokers. Finding an honest lead originator eliminates this problem.
Also, these clients are actively seeking help with their mortgage, often making closing them easier.
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raymondb
5111 Posts |
Posted - 02/11/2008 : 08:22:39 AM
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I am a lead provider as well bud. If you have any questions please let me know. I am available by email... raymond@bestratereferrals.com or you can always get me at the office 800-811-1402. i just dont like to advertise on this thread as its for training. Thanks!
quote:
Originally posted by LoanShark357
Do you know of an honest lead generator. I have not found one yet. mlcrouse@comcast.net
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raymondb
5111 Posts |
Posted - 02/11/2008 : 08:30:25 AM
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WOW, thanks Kelly and Shari for those coments. It was a true pleasure training Shari for a few hours. I really enjoy the sight of someone grasping the conept. It makes it better when i can run a list for you in the center that allowed you to see just how it can work. Im not sure how many leads she got in that 30-45 minutes of dialing but it was a great turn out and the best part is that she got to see it work first hand. The best training out there is done in the call centers themselves. Shari got to hear the same basic pitch form many different people and also she got to hear the other end and how the homeowners reacted to each question. THIS IS HUGE!!!
Im just glad that I was able to help you good people out (there isnt many of us left in this industry). Tell Shari thanks again for taking the time to fly out. If you all need anything int he future just let mw know. Thanks.
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Originally posted by KellyVanguardNM
Hey all,
Many of you have seen me on here for a while; starting out with a company dropped in my lap smack dab in the middle of the "mortgage fall out". I have recieved so much help from this forum; from wonderful LO's, trainers, processors and others. Throughout it all, one person has helped me over and over with advice, conversations, etc. to get me through the rough start. That was Raymond Bartreau of Best Rate Referrals. Words cannot my gratitude for his patience and the education that he has provided to me and my company in the last few months. Do not waste your time or money on crappy leads anymore; Call Raymond!
My partner Shari was able to go and see Raymond in Las Vegas last week. ( Sadly, I was unable to go). She wrote the following about Raymond that I thought should be shared on this Forum.
Over the course of the last few months, we’ve bought leads from several different companies. To be honest, we haven’t had much success with any of them. Raymond from Best Rate Referrals convinced us that it was all in the delivery, not in the leads. We had several conversations over the phone in regards to changing our delivery and last Thursday, I flew to Las Vegas to get a first hand taste of how the pros cold-call.
Raymond was terrific! We spent a couple of hours going over the basics; the available call center set-ups. He gave me several different scenarios that will increase our profits, things that hadn’t even occurred to me. But it didn’t stop there. After he was fairly sure I understood the concepts he proposed, he took me into his call center and proved that they work! His entire crew was great, they let me listen in on their calls, answered every question I asked and were super supportive of my “learning curve”. Based on what I witnessed, we have ordered an autodialer and my expectations are huge!
Thank you Raymond for everything, you have been so supportive of us and it’s so nice to see that not everyone in this industry is all about me, me, me. I would recommend to anyone and everyone who needs to fill their pipeline, and has an open mind to learn a “new” approach, to go train with Raymond. It is worth every penny, because since I left Vegas, I have 7 brand new loans, all closing this month. Shari Linsley
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KellyVanguardNM
519 Posts |
Posted - 02/11/2008 : 1:53:04 PM
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| No Problem Raymond. You are truly one of the good ones... :) |
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aspiring1
1358 Posts |
Posted - 02/11/2008 : 2:44:25 PM
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| Raymond, you have mail, my company's CEO and president are interested in getting leads from your company. Thanks! |
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raymondb
5111 Posts |
Posted - 02/11/2008 : 2:58:43 PM
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i could write you an internet script but to be honest yo might want to ask a broker that works them daily. I have never sold them or worked them so its almost like i would be giving false advise if i guessed. Im sure i could figure out something good but I dont want to be giving bad advise ever. Also if youw ant to run a beta test on your interent stuff for one of your clients we can do that. Maybe live transferred internet leads is something we can explore.....
Thanks for the kind words guys!
BTW Jarvis i got your email and i responded bud. Thanks!
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Originally posted by tvanleer
Hey Ramond- What you are doing here is fantastic! I would be interested to see what your killer closers could do with my internet leads! Also, I would still be interested in a script for brokers that are running internet leads. Give me a shout if you have something. Take care bud, and keep fighting the good fight!
Regards,
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raymondb
5111 Posts |
Posted - 02/19/2008 : 4:39:37 PM
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Jarvis, hit me up when you get a chance bud.
Kelly, we have your dialer all ready to go sweetie so let me know if you have any questions
Thanks.
quote:
Originally posted by aspiring1
Raymond, you have mail, my company's CEO and president are interested in getting leads from your company. Thanks!
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raymondb
5111 Posts |
Posted - 03/02/2008 : 7:08:49 PM
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DIFFERENT TYPES OF DIALERS
Hardware Predictive Dialers
Definition: The predictive dialer uses a variety of algorithms to predict both the availability of agents and called party answers, adjusting the calling process to the number of agents it predicts will be available when the calls it places are expected to be answered.
English: A predictive dialer is a computerized hardware system that automatically dials batches of telephone numbers on multiple lines for connection to agents assigned to call stations. Predictive dialers are widely used in call centers and are very effective when ran correctly.
My favorite type of Predictive dialing is the hardware based systems that have NO VOICE RECOGNITION. This is a program that causes a slight delay due to the software trying to figure out which calls are reaching live people. It is designed to eliminate disconnects and answering machines. However from my experience you loose about 35% of you’re “pitch able connects” due to the customer saying hello twice. In my office we use a 6 man dialer that calls out on 8 phone lines. My reps pitch 100% of every person that answers the phone because they hear the call ring into the home owner. Each six man dialer should be able to generate about 30-40 mortgage leads per day.
Hosted predictive dialers
Hosted predictive dialers (aka: Web-based predictive dialer, or VoIP Predictive Dialers) use the hosted servers in their model to provide organizations and individuals with a predictive dialer capability without having to buy expensive hardware or phone systems.
Pros:
-No required investments in computer or telephone hardware
-No required investments in software or licenses
-Administration and support are handled by the service provider
-Links into the system are remote, enabling agents and supervisors to connect from any location
-Software updates and upgrades included.
Cons:
-Service is dependent on an internet connection; when the internet goes down, so does the service
-Providers using VOIP as their primary delivery method experience limited reliability and performance. There are services with analog phone capabilities but they usually limit you to a certain computer. The services that offer a full VOIP are usually a fix cost and unlimited dialing capabilities.
Auto Dialer
Definition: An auto dialer is an electronic device that can automatically dial telephone numbers to communicate between any two points in the telephone, mobile phone and pager networks. Once the call has been established (through the telephone exchange) the auto dialer will announce verbal messages or transmit digital data (like SMS messages) to the called party.
English: the key technology for auto dialers is the ability to detect the difference between a live human pickup and answering machine or disconnect. These are a little outdated with the newer predictive dialers and hosted services being so much better. I don’t know of any auto dialers that can come close to the basic predictive solutions out there.
OVERVIEW and CONCLUSION
With over 8 years of dialer experience in different sized call centers I have come to one major conclusion in dialing as we know it. Predictive dialing is the absolute best way to go. I use the 6 agents x 8 lines per dialer method because my reps get to pitch every single person. This model is great for the small to midsized operations. The nice thing with my hardware systems is that you can stack multiple dialers on one computer so growth is pretty inexpensive in comparison with some autodialing systems that require a computer at each station.
The Auto dialers are almost a thing of the past. The only settings they are good for is big call centers that have 100s of agents and really need to use the Voice Recognition. Due to big payroll costs. These centers have to be only talking to live people even if they loose 35% of the pitches due to the delay. These are not good fro small to mid size operations.
The one down side to the predictive dialers is that they are an investment. They can be costly and for most small business it’s hard to come up with the capitol for a system like this. What I suggest for shops like this is to start out using a cheaper hosted service until you make enough to invest in the in house system. Hosted dialing can be very good but it’s still just a stepping stone to the hardware systems.
There will be a lot of questions about this topic I’m sure and I invite you to post them here.
Thanks!
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brokerintheskye
2441 Posts |
Posted - 03/03/2008 : 11:56:21 AM
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| Hey Raymond - just found this thread - this can very helpful to alot of people. |
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raymondb
5111 Posts |
Posted - 03/24/2008 : 11:17:26 AM
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| Thanks Skye, i will be entering the world of Direct Mail next. I should be starting that this week. |
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raymondb
5111 Posts |
Posted - 03/26/2008 : 10:44:20 AM
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DIRECT MAIL
There is a lot to think about when looking into doing a direct mail campaign.
The first thing I would do is to think of a target audience or a niche that you want to be doing such as FHA, reverse, ARMs, purchase, bailout, etc....
The next thing you need to do is figure out how to get the best list of home owners that fit that target audience criteria.
For example if you are targeting for loan products that require high ficos you want a list of home owners that have decent credit and the only way to get that is to get credit data either from a list broker or directly form the credit bureau.
Another example would be if you were looking for ARM recast data to do a mail piece to the ARMs coming due. Most list brokers now have access to this. You can also target the purchase market by pulling a list of renters within a certain area in which they make a good income and or they have good credit.
The demographics of these lists can be targeted by a number of measures....city, county, state, zip codes, radius of a location, etc.
The main thing to worry about when looking to drop a mail piece is your list. This is the most important component of any mail drop. There are a few other factors such as the print, the envelope, the day of the drop, etc. and I will touch on all those as well as the Direct Mail portion continues.
If you have any questions about direct mail please post away or shoot me an email.
Thanks!
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raymondb
5111 Posts |
Posted - 04/12/2008 : 09:58:43 AM
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Direct mail
part 2
Once you get your target audience down you have to figure out just exactly what you are going to send them. There are all types of mail pieces from post cards, to personalized handwritten letters, to black and white printed letters for mass mailers, to full color letters that show a high professionalism IMO, to even snap pack letters that print on inside of the envelope with tear off edged. Thats just the content options themselves, then you have packaging. IF you are targeting a very small audience and you are hand writing the letter you are probably going to simply handwrite the envelope and send it. Time your area by sending yourself a piece and make sure it hits on either a Tuesday Wed or Thursday (best from my experiences)
If you don't want to do it yourself because it takes too much time find yourself a trustworthy mail house. As you search the internet you see many print houses or mail houses advertise all kinds of different color envelopes with sizes and tricky printing, etc.... The thing to most think about when looking for your piece is...
1) what's my budget? (try to find yourself the best way to reach the MOST targeted audience for your budget)
2) How saturated is your state or the audience you are mailing? (this will make a huge difference in how you hit them) If you are mailing to a small town state like WI or AL you may want to use a nice color piece letter with a picture. Color envelope is helpful but really a standard #10 black and white will do since these folks are hit as ofter and they will open almost every mail piece. This will give them that sense of comfort they are used to.
You can do the same thing in bigger cities but since they get hit harder I like to use unique packaging and cheaper print (black and white) so that you can reach a few more people with you budget. If they open it they will read it usually. The bigger cities are hit more often nationally by many industries so keep that in mind when picking out your envelope. It has to either look very official or be a difference size or color than most mail, (my favorite is official looking ones as in these times people want security in any financial move they do.
3) If you choose to do post cards there are two things to think about....
Pros and Cons
Pros.
-They see your face and read your message right away
-they are much cheaper than direct printed mail
-great for converting renters to buyers
-since they are cheaper you can hit almost 40-50% more people in one drop or you can drop multiple times to the same list to get name recognition
Cons.
-they look cheaper to some consumers that frown on them
-They are not as personal
-they get much lower response on refi drops (they do good on purchase campaigns though)
-its hard to get a good point across to them with such a small amount of room to print on
IN CONCLUSION: If you are going to mail you get your list and then find an affordable way of mailing to them. Think about the homeowner and what they would open first of all and then make the content something readable. It can't be boring, make it pop. If you have never mailed before try to find an honest mail house that can print and mail for you. They normally get the best rates in the biz and the good ones don't mark up the postage on you which saves you money as well. Not many of them include the data source with your mailing but you can can find one that does then you may want to go with them. If the mail piece drops and fails you only have one company to call and blame not a mail house and then a data vendor who will just blame each other.
If you have any more questions about direct mail please do not hesitate to respond. I'm here to help....
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genealle
1297 Posts |
Posted - 04/12/2008 : 10:55:55 AM
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Ray said: For example if you are targeting for loan products that require high ficos you want a list of home owners that have decent credit and the only way to get that is to get credit data either from a list broker or directly form the credit bureau.
Just wanted to add that Melissadata and others provide filtered data at the zipcode level and can allow you to target affluent customers sorted by carrier route. http://www.melissadata.com/lookups/index.htm
Affluent doesn't necessarily translate to a high FICO, but they can be mobile buyers that purchase every 3 or 4 years, and take some higher level and above Jumbo loans. |
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raymondb
5111 Posts |
Posted - 04/12/2008 : 11:50:31 AM
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| Many data houses can do that from consumer data. i was referring to high FICO data and the only way to get that is to direct with the bureau. |
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genealle
1297 Posts |
Posted - 04/14/2008 : 05:53:03 AM
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quote:
Originally posted by raymondb
Many data houses can do that from consumer data. i was referring to high FICO data and the only way to get that is to direct with the bureau.
I knew that.
I was offering another data source. |
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raymondb
5111 Posts |
Posted - 04/14/2008 : 08:25:12 AM
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Thats just very unprofessional to do that when I have put in so much time to this training thread. You putting a competitors link on my thread is like throwing stones. especially since there is an announcement section for advertisements and this thread is for helping people not advertising. I don't even advertise on my own training thread and I dont appreciate you doing so.
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genealle
1297 Posts |
Posted - 04/14/2008 : 08:30:33 AM
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What's unprofressional is your sig.
It's like a billboard.
Also posting a "Thanks" every 5 minutes to bump up is unprofessional.
Just offering further info is hardly unprofessional.
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raymondb
5111 Posts |
Posted - 04/14/2008 : 08:41:48 AM
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Your completely giving links to MY competitors on a thread where I am helping this board for FREE. If you like their data so much then go post in the announcements section.
Is my signature the only one that is blown up? Remember you don't have to read my threads and BTW i pay to post on this site. I did sponsor ship that cost a lot of money so yeah i want traffic. Your getting aggressive with me on a thread where I give away so much useful knowledge its not even funny.....and its free. If my signature offends you go elsewhere and post your links there.
quote:
Originally posted by genealle
What's unprofressional is your sig.
It's like a billboard.
Also posting a "Thanks" every 5 minutes to bump up is unprofessional.
Just offering further info is hardly unprofessional.
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genealle
1297 Posts |
Posted - 04/14/2008 : 4:22:12 PM
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quote:
Originally posted by raymondb
Your completely giving links to MY competitors on a thread where I am helping this board for FREE. If you like their data so much then go post in the announcements section.
Is my signature the only one that is blown up? Remember you don't have to read my threads and BTW i pay to post on this site. I did sponsor ship that cost a lot of money so yeah i want traffic. Your getting aggressive with me on a thread where I give away so much useful knowledge its not even funny.....and its free. If my signature offends you go elsewhere and post your links there.
quote:
Originally posted by genealle
What's unprofressional is your sig.
It's like a billboard.
Also posting a "Thanks" every 5 minutes to bump up is unprofessional.
Just offering further info is hardly unprofessional.
Rayman, keep the E-mails and PM's to yourself.
I wasn't going to post any further, but now I shall after reading my E-mail.
My post wasn't an "advertisement" as you called, for www.Melissadata.com
It is merely another source of filtered data, at a reasonable cost.
I have nothing to gain from posting their link.
I simply feel that the more tools available, the better a broker's chances.
You say this thread is not for advertising? "It's for my advice"?
How can you be so presumptive exclude anyone else from adding more information?
Do you really think I should have posted that link in the "Announcement" section as you suggested?
Did I miss a clause in the TOS that forbids adding to a post, or is that just your possessive attitude?
As far as your sig, and your comment that others are doing it? Get real. I suppose a seven line, five colored billboard says it all about your attitude.
Was that rule or piece of forum etiquette dropped when you became a Premium Member?
You appear to have a good product and the respect of many members here on the Outpost. Your behavior has greatly diminished my opinion of you. I've never seen Darkstar at www.adjustableratemarketing.com behave in such a cavalier and selfish manner. |
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raymondb
5111 Posts |
Posted - 04/14/2008 : 6:50:44 PM
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This was my consulting thread to offer advice on marketing from the view of someone that runs a national marketing company. I would think that information would be wanted but I guess someone with no time wanted to chime in.
I started this thread to show What's working and what's not from a marketing perspective. You have an entire forum to post your opinions on data companies or what ever. Read the title of this thread again.
If someone has questions for me then ask or whatever but its not for you to post other data sources or market for other companies. Either way If you change an opinion of someone for wanting a thread (which i devoted a lot of time to be my advice and not others) then obviously you didn't se the value in the content you read.
Either way it doesn't matter, I market for 40-50 Brokers per day and I train many more than that. TO ME IT IS ALL ABOUT HELPING OTHERS GET THROUGH THIS TOUGH TIME IN THE INDUSTRY! Not about bickering with bored LOs, at least not this thread. This thread is for ADVICE BY ME. Thanks! |
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Iverson170
77 Posts |
Posted - 05/06/2008 : 10:51:06 AM
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Hey Raymond,
I just have a quick question. Where would i be able to learn more about loan modifications and educate myself about them? Thanks Raymond!
-Erick Berthaldan
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raymondb
5111 Posts |
Posted - 05/25/2008 : 8:13:24 PM
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Happy Memorial Day everyone. Be SAFE!! REMEMBER even if your not drinking and driving, others probably will be so stay alert on the roads.
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raymondb
5111 Posts |
Posted - 06/04/2008 : 11:33:09 AM
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I will be posting some more training very soon I'm just finishing up a few projects. In the mean time I wanted to offer the board some FREE ARM leads.....
http://www.brokeroutpost.com/loans/brokers/forum/topic.asp?TOPIC_ID=225193
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musicman
75 Posts |
Posted - 06/04/2008 : 3:14:25 PM
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| Thanks Ray for all the positive help. I'll be using some of these ideas on my own. |
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raymondb
5111 Posts |
Posted - 06/05/2008 : 10:00:41 PM
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Your welcome, it was my pleasure.
If you need any more advice let me know.
quote:
Originally posted by musicman
Thanks Ray for all the positive help. I'll be using some of these ideas on my own.
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raymondb
5111 Posts |
Posted - 06/06/2008 : 05:34:52 AM
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Thanks for the bump Stevo,
I guess all my FREE advice is starting to make (imploding) competitors a little upset. Well dont worry readers I wont stop the advice just because a competitor is hurting and bored. Maybe if the competitors read the advice they would have something going on and not be bored. All i can do is give the advice I can't make people use it.....but for those that do read this, Im sure you are doing much better than you were before, and heck the stuff is FREE and its coming form a true mortgage marketing professional, not just some list reseller! Keep in mind that I do all types of marketing and I see all different results...I know what works and what don't because its what i do all day long. Thats why i share for FREE, to help you from making mistakes as LOs in the tough industry we are living.
Good luck to all!
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vena
1 Posts |
Posted - 06/06/2008 : 11:08:04 AM
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quote:
Originally posted by arscherer
quote:
Originally posted by raymondb
In the end no matter what you do try to do as much of it in house and try to be very specific about who you are targeting. The shotgun approach is definitely not working. You have to target your market, reach them the best way you can to get through the 'exterior' and then do it routinely. if you do these basics you should at least do 2-3 more loans.
This is an excellent post, and this quote that I mentioned above is one of my favorite paragraphs throughout!
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raymondb
5111 Posts |
Posted - 06/06/2008 : 1:58:24 PM
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Thanks!  and your welcome!!
quote:
Originally posted by vena
quote:
Originally posted by arscherer
quote:
Originally posted by raymondb
In the end no matter what you do try to do as much of it in house and try to be very specific about who you are targeting. The shotgun approach is definitely not working. You have to target your market, reach them the best way you can to get through the 'exterior' and then do it routinely. if you do these basics you should at least do 2-3 more loans.
This is an excellent post, and this quote that I mentioned above is one of my favorite paragraphs throughout!
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Miller192
187 Posts |
Posted - 06/06/2008 : 7:09:37 PM
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Ray,
Let me know when you come up with something for commercial leads. We having a falling out with our current provider.
To those who are "hijacking" this thread, go make your own. You're just making yourself look unprofessional. |
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raymondb
5111 Posts |
Posted - 06/07/2008 : 08:39:54 AM
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I am looking into this this weekend and i will run some testing late next week. Let's talk Monday so i can get some feedback from you that could possibly help me figure the market out.
Thanks! |
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raymondb
5111 Posts |
Posted - 06/21/2008 : 10:44:31 AM
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Chris, I'm sorry I got really busy and didn't get time to do much research on this for you. i tell you what, if you want to help me brain storm, or if anyone wants to help me brainstorm on this market I would love to be able to help you all with marketing tactics after I run testing and get them perfect. I would hate to train anyone on a certain type of marketing Or sell any type of marketing with out learning fully about it first. if anyone is marketing to commercial folks or buying commercial marketing get in touch with me with any input you feel mIght help me in this mission. Once we get it all figured out and perfected we will release how to do this on the forum here.
Any feedback on commercial marketing that has or hasn't worked is greatly appreciated. Email me at raymond@bestratereferrals.com
I look forward to building more solid marketing for everyone in this community! |
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raymondb
5111 Posts |
Posted - 07/11/2008 : 12:07:07 PM
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Off the topic of Direct Marketing I have been thinking of alternate ways for LOs to make money while you grind this thing out. You don't even have to change much about what you do EXCEPT WORK A LITTLE HARDER for your potential borrowers and TURN DOWNS!!!
Think about this for a second......We are all taking more applications now than we have in the last couple years but for most it's the qualifying the prospects that is the issue. I talk to so many Loan Officers and Brokers a like that just throw that stuff away.......WHY WOULD YOU DO THAT? Your trash is another man's treasure and actually its a treasure to you but most just don't know it yet.
Here is what I would be doing if I was a full time LO....
Do which ever marketing I like best and then really really WORK THE LEADS! Work the potential Refi to the bone until there is absolutely no deal there. On all the turn down leads we have all got to start helping these people. There are other ways that may require any Loan Officer to get out and network to help the homeowners in other financial ways....
I would try building relationships with other professionals in other lines of finacial services....
First- credit repair companies--I know most of them pay you a commission for the repair job and then they send you the borrower back for the loan after things are fixed. You not only go the extra mile for your client but you also make a little money on the side form the CR company. This helps you help a client that needs it and that gives you the chance to put them in your client base for later as well as earn referrals through them.
Another example would be to learn loan modification. 9 out of 10 applications taken DO NOT qualify for a loan, so in my mind you should try and modify their loan with their current lender and make a small commission for HELPING your client. Again this was a turn down before and it could be turned into revenue and maybe even a future deal and more than likely a referral or two for another modification. (you would not believe how much home owners talk about not being able to refinance with each other) If you go the extra mile on either of these two ways or even debt settlement or something like that you will be helping home owners the same way, FINANCIALLY, and still be making money as well as building your client base for future. Some of these companies are set up differently so finding the right one for you can be difficult. I have done extensive research on this and if you would like information you can email me off the board for the names of the companies I would suggest using.
Sorry to go off on a rant but i see so many people complain about turn downs and lenders not lending to hardly anyone, but really they should be trying to figure out how to try and help these clients out. There is a lot of money to be made rehabbing or modifying loans as well as credit repair and settlement. START DIVERSIFYING IF YOU WANT TO LIVE AS WELL AS YOU MIGHT HAVE IN YEARS PAST IN THE INDUSTRY! Especially considering some of the people you all run into can't even modify because they are too far upside down. Another GREAT way to build Realtor referrals for short sales. You simply can't loose if you build yourself a network of industry professionals to send your turn down and bail out deals to. Net working has never been easier with over 95% of all home owners in need of some sort of financial service. You area already taking the time to talk to them to find out about the refi...if you turn over just half your turn downs you not only cover part of your over head but you also build your clients for later. We know lenders will lend again at some point. he who has the biggest over all client base will be the one who makes the most money when this happens.
I'm in hopes this message gets at least one person motivated again, all the negativity does get overwhelming after a while and there truly is a ton of money to still me made in financial services. Lets get on it!
MORE TRAINING TO COME IN THE NEXT FEW DAYS! NOW OFF TO SEA WORLD WITH THE LITTLE ONE! |
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KellyVanguardNM
519 Posts |
Posted - 07/11/2008 : 3:42:07 PM
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Thanks Raymond! As always, you are a big help to everyone!quote:
Originally posted by raymondb
Off the topic of Direct Marketing I have been thinking of alternate ways for LOs to make money while you grind this thing out. You don't even have to change much about what you do EXCEPT WORK A LITTLE HARDER for your potential borrowers and TURN DOWNS!!!
Think about this for a second......We are all taking more applications now than we have in the last couple years but for most it's the qualifying the prospects that is the issue. I talk to so many Loan Officers and Brokers a like that just throw that stuff away.......WHY WOULD YOU DO THAT? Your trash is another man's treasure and actually its a treasure to you but most just don't know it yet.
Here is what I would be doing if I was a full time LO....
Do which ever marketing I like best and then really really WORK THE LEADS! Work the potential Refi to the bone until there is absolutely no deal there. On all the turn down leads we have all got to start helping these people. There are other ways that may require any Loan Officer to get out and network to help the homeowners in other financial ways....
I would try building relationships with other professionals in other lines of finacial services....
First- credit repair companies--I know most of them pay you a commission for the repair job and then they send you the borrower back for the loan after things are fixed. You not only go the extra mile for your client but you also make a little money on the side form the CR company. This helps you help a client that needs it and that gives you the chance to put them in your client base for later as well as earn referrals through them.
Another example would be to learn loan modification. 9 out of 10 applications taken DO NOT qualify for a loan, so in my mind you should try and modify their loan with their current lender and make a small commission for HELPING your client. Again this was a turn down before and it could be turned into revenue and maybe even a future deal and more than likely a referral or two for another modification. (you would not believe how much home owners talk about not being able to refinance with each other) If you go the extra mile on either of these two ways or even debt settlement or something like that you will be helping home owners the same way, FINANCIALLY, and still be making money as well as building your client base for future. Some of these companies are set up differently so finding the right one for you can be difficult. I have done extensive research on this and if you would like information you can email me off the board for the names of the companies I would suggest using.
Sorry to go off on a rant but i see so many people complain about turn downs and lenders not lending to hardly anyone, but really they should be trying to figure out how to try and help these clients out. There is a lot of money to be made rehabbing or modifying loans as well as credit repair and settlement. START DIVERSIFYING IF YOU WANT TO LIVE AS WELL AS YOU MIGHT HAVE IN YEARS PAST IN THE INDUSTRY! Especially considering some of the people you all run into can't even modify because they are too far upside down. Another GREAT way to build Realtor referrals for short sales. You simply can't loose if you build yourself a network of industry professionals to send your turn down and bail out deals to. Net working has never been easier with over 95% of all home owners in need of some sort of financial service. You area already taking the time to talk to them to find out about the refi...if you turn over just half your turn downs you not only cover part of your over head but you also build your clients for later. We know lenders will lend again at some point. he who has the biggest over all client base will be the one who makes the most money when this happens.
I'm in hopes this message gets at least one person motivated again, all the negativity does get overwhelming after a while and there truly is a ton of money to still me made in financial services. Lets get on it!
MORE TRAINING TO COME IN THE NEXT FEW DAYS! NOW OFF TO SEA WORLD WITH THE LITTLE ONE!
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KellyVanguardNM
519 Posts |
Posted - 07/14/2008 : 11:27:24 AM
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Raymond, I appreciate all the help you have given to my office with Cold-Calling. There is no better training than seeing it first hand.quote:
Originally posted by raymondb
Yes sir, as this thread grows I will add every little element of cold calling I know about. We will break it down one post at any time explaining in detail the pros and cons of these aspects. IF at any point you have a question post it. Erik I know you’re versed in this stuff too so if at any point you have anything to add that would be welcomed. This will be a great training thread by the time all the relative content is added about each type of marketing. Another great reason BO is so great. It allows the newbie’s to get some great education for FREE!!! The BO has been great to me and this thread will be my contribution back to it.
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raymondb
5111 Posts |
Posted - 07/16/2008 : 06:22:42 AM
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Your welcome. I hope that many readers will start to diversify what they do when they run into dead files. There is money to be made and consumers to help in that process. Everyone wins, even the lenders who don't have to for close due to a loan mod as another option or even a short sell. Learning this side of the business can mean the difference of having tens of people in your client base to having hundreds. With that said let's start helping more people now and build your client base for later. Give them a loan mod now and you have a potential refi lead for a couple yrs from now. I love it!
quote:
Originally posted by KellyVanguardNM
Thanks Raymond! As always, you are a big help to everyone!
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KellyVanguardNM
519 Posts |
Posted - 07/16/2008 : 06:26:19 AM
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I am still awaiting that contact in Florida. I found a good resource in Tampa...or it seems good I should say.. is that who you were referring to?quote:
Originally posted by raymondb
Your welcome. I hope that many readers will start to diversify what they do when they run into dead files. There is money to be made and consumers to help in that process. Everyone wins, even the lenders who don't have to for close due to a loan mod as another option or even a short sell. Learning this side of the business can mean the difference of having tens of people in your client base to having hundreds. With that said let's start helping more people now and build your client base for later. Give them a loan mod now and you have a potential refi lead for a couple yrs from now. I love it!
quote:
Originally posted by KellyVanguardNM
Thanks Raymond! As always, you are a big help to everyone!
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raymondb
5111 Posts |
Posted - 07/21/2008 : 11:36:55 AM
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| I cant promote or advertise on this thread Kelly so when you get a chance please email me and ill shoot you the contact information. Thanks! |
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mschwader
108 Posts |
Posted - 07/23/2008 : 5:52:27 PM
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| Raymond! Your info in the past has never steered me in the wrong direction. I want more information on all of this. Any company or program you have researched and signed up with has got to be good. |
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raymondb
5111 Posts |
Posted - 07/27/2008 : 11:11:48 AM
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Thanks for the kind words. You can email me off the board and I'll send you to the right company. There is tons of training as well with them so all in all a very solid deal for anyone doing loans to make money on their turn downs and other clients in desperation.
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vyckey@hotmail.c
81 Posts |
Posted - 07/28/2008 : 8:19:38 PM
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| Raymond, I sent you another email asking about a specific type of training (the first one went unanswered). I am looking to discuss some specific needs that you may be able to help me out on. thanks! |
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raymondb
5111 Posts |
Posted - 07/29/2008 : 08:41:27 AM
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| I never got your first email however I did get the one you sent me last night. I rarely have much time to do phone training myself during the day. However if your willing to call me later in the evening we can definitely help you work on your scripts and answer any questions you may have. Let me know if this will work. Thanks! |
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vyckey@hotmail.c
81 Posts |
Posted - 07/29/2008 : 7:29:31 PM
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| just sent another email. |
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raymondb
5111 Posts |
Posted - 07/30/2008 : 9:00:56 PM
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I got it Vicky and I will respond in the AM. I got extremely busy today. i will be available tomorrow evening or on Friday to discuss. You can call me anytime on my direct line...702-205-0502. I will be more than happy to give you some advice.
Thanks! |
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vyckey@hotmail.c
81 Posts |
Posted - 07/31/2008 : 07:13:05 AM
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quote:
Originally posted by raymondb
I got it Vicky and I will respond in the AM. I got extremely busy today. i will be available tomorrow evening or on Friday to discuss. You can call me anytime on my direct line...702-205-0502. I will be more than happy to give you some advice.
Thanks!
Will give you a call on Friday evening. It is month end and crazy right now. I will be at work really late tonight, so Friday will be great! |
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raymondb
5111 Posts |
Posted - 08/01/2008 : 12:16:49 PM
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Vicky, what time today did you want to talk? I'm available now if you want. call my cell. 702-205-0502. I will be around this weekend as well if that works better for you.
quote:
Originally posted by vyckey@hotmail.com
quote:
Originally posted by raymondb
I got it Vicky and I will respond in the AM. I got extremely busy today. i will be available tomorrow evening or on Friday to discuss. You can call me anytime on my direct line...702-205-0502. I will be more than happy to give you some advice.
Thanks!
Will give you a call on Friday evening. It is month end and crazy right now. I will be at work really late tonight, so Friday will be great!
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clarenceworley
5717 Posts |
Posted - 08/02/2008 : 02:50:47 AM
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Raymond: How about "infoarticles": advertisements written as public servcie messages in a local free newspaper? Do you think that is a good way to market? I am thinking of doing some reverse mortgage, usda, fha, and VA articles.
Thanks, |
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raymondb
5111 Posts |
Posted - 08/04/2008 : 8:08:40 PM
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Good question!
In my opinion any time you can get your name out there it can be good. What makes it viable or not is the price of such ad vs. the potential response. I have hear of people doing ok in certain areas doing this. I guess it would have to depend on the demographics of the actual paper its going in. Let me know more about your plans and lets brainstorm.
quote:
Originally posted by clarenceworley
Raymond: How about "infoarticles": advertisements written as public servcie messages in a local free newspaper? Do you think that is a good way to market? I am thinking of doing some reverse mortgage, usda, fha, and VA articles.
Thanks,
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aspiring1
1358 Posts |
Posted - 08/13/2008 : 8:35:37 PM
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Raymond, I have been thinking lately about the apps that I am getting and why they aren't qualifying. I notice that even though I pull at least 1-2 applications every two hours while cold calling - many of these people are not qualifying.
I used your company's dialer and ARM data and I was able to get two loans after 23 hours of dialing. My manager never renewed the dialer for some reason or the other which is why I didn't continue.
For the last month I have been calling ARM data either from title companies or lists that I obtain from different vendors. I have found that only 1 out of 20 actually qualifies. That is BAD.
My question is, do you think that just by paying a nice sum of money for targeted filtered data (i.e. for FHA ficos over 580, no lates...etc), that will greatly increase the chance of getting closable apps? I thought that by keeping cost of data down, one can play the numbers and close deals. Well, I've learned the hard way - that's not so. My observation is:
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Good filtered data = increases chances of app'ing people who CAN get a loan if they WANT..
Free data/very cheap data = MANY people who won't qualify regardless of their motivation.
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For a list of 4,000 records with FICO filters i.e., what would one expect to pay generally? Also, for a one man shop, do you think buying less, higher cost filtered data is worth the expense compared to buying more of the lower cost non-filtered data?
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cswartz79
56 Posts |
Posted - 08/13/2008 : 9:12:40 PM
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| Raymond thanks for clearing up the differences in the many types of dialers that are available. I have been trying to make sense of this since. We are planning to expand our outbound call center. Also good info on the direct mail. Once again you have provided me with some valuable knowledge, and it was free. Thanks again Ray!! |
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raymondb
5111 Posts |
Posted - 08/15/2008 : 07:16:32 AM
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Chris, It's always my pleasure sharing info that may help you all out. Saving my clients money is just as good as making them money. If you ever have any marketing questions I am here to answer the best I can.
quote:
Originally posted by cswartz79
Raymond thanks for clearing up the differences in the many types of dialers that are available. I have been trying to make sense of this since. We are planning to expand our outbound call center. Also good info on the direct mail. Once again you have provided me with some valuable knowledge, and it was free. Thanks again Ray!!
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