Loan originators who have a trust relationship with prospects have an easier sale. When a client knows you and trusts you, their decision becomes about which loan to select, not whether to have you do the loan. When you know your clients, you face less rate shopping and less comparison to other lenders.
An alternative is to buy leads, but that means you call as a stranger and will always fight a battle over rates. With refinances all but going away, working leads will not be a viable strategy for most originators.Click to continue
The Federal Financial Institutions Examination Council (FFIEC), this past December, published a 19-page document detailing practices related to social media. In it, the FFIEC states “the use of social media by a financial institution to attract and interact with customers can impact a financial institution's risk profile. The increased risks can include the risk of harm to consumers, compliance and legal risk, operational risk, and reputation risk.Click to continue
With the explosion of opportunities for businesses and professionals to market themselves via the Internet, deciding where to spend your time to get the greatest return-on-investment (ROI) can be a challenge. How do you prioritize if you only have so much time to devote to marketing? Here are few tips:
1. Choose things you enjoy doing, because that enthusiasm will show.
2. Choose what you are good at. If you are a good writer, then start a blog. If you have strong social skills, then get involved in your community.Click to continue
It is a fact that LinkedIn is the world’s largest, most comprehensive professional network. With more than 200 million subscribers, LinkedIn adds two new profiles every second. The clients that you need to do business with are on LinkedIn.
It is a fact that studies indicate that mortgage professionals who implement proven LinkedIn sales and marketing strategies have grown their originations by more than 30 percent. Some of my students have even doubled their origination volume within just 12 months of implementing these proven techniques.Click to continue
Facebook is known as the apex of all social media sites. Facebook overcame it's predecessor, MySpace, and even it's close adversary Twitter cannot boast as many registrations and daily participants. Every second of the day, people are posting statuses, sharing pictures, and “Liking” things that catch their interest. It's the fastest, most versatile form of communication and form of sharing that our society has had to date. Facebook “Fan Pages” haven't always been around, but once they were announced, groups, companies and advertisers jumped for joy.Click to continue
Wholesale lenders may be held responsible for various actions of their brokers, bankers and correspondents (brokers). The wholesaler, in establishing a relationship with the broker, is responsible for due diligence. For example, the wholesaler may approve title insurance agents, appraisal companies and determine that sound underwriting/processing standards are followed. By underwriting the file or reviewing the underwriting, the wholesaler minimizes its risk.Click to continue
The hardest challenge in content marketing is providing quality content that meets consumer needs and interests. Real estate agencies and marketers now have some help: Say It Visually’s Real Estate Explanations Library, a collection of more than 100 short videos from the company’s licensing subsidiary, Fast Forward Stories. The new library addresses a broad range of questions for real estate consumers, while giving real estate agents and marketers low-cost, ready-to-share video content with their own branding and information. Click to continue
If social media throws you for a loop, don’t feel bad because more than 50 percent of all business owners still do not work social media into their marketing. In this article, we are going to discuss how to use Twitter and how Tweeting can increase business.
The one thing I love about Twitter is its simplicity and how easy it is to use. So if you are new to social media, Tweeting a wee bit of news is a great way to start out. Below are some suggestions on how to start off Tweeting ...Click to continue
President Barack Obama will answer questions from U.S. homeowners, renters and prospective buyers this Wednesday, Aug. 7, at 10:00 a.m. PDT/1 p.m. EDT in a live-streamed event entitled Zillow Presents: A Better Bargain for Responsible Homeowners: President Obama Answers Your Questions. The event will take place the day after President Obama's housing policy speech in Phoenix. Zillow Inc. will host the President during a virtual housing roundtable discussion.Click to continue
Growing your business in the mortgage and investment banking industry will mean that you are reaching out to a predominantly well-educated and sophisticated prospect. That means that your marketing must also be sophisticated. It doesn’t mean it can’t be creative or surprising, it just has to be smart.
Here are 10 ways you can grow your business, either by accomplishing these tasks yourself, or by calling on a marketing firm to assist you in implementing them.Click to continue