Forward on reverse: Does John Neincash need mortgage payments?
Mortgage technology & beyond: Mortgage Coach CommunityJohn D. Svirskylead generation, lead referrals, marketing reports, online approach After years of market research and testing, the Mortgage Coach has now evolved into an online Mortgage Coach Community. It's a multi-tiered approach to getting more clients through lead generation, obtaining lead referrals through marketing reports and closing more deals with "Analyze." Combining that with an online approach offering videos, training, blogs, online chat rooms and forums, we can communicate with other mortgage professionals, sharing what they are doing to close more deals during these challenging times. Using Mortgage Coach has always permitted me to deliver tangible value to my clients and referral sources, and the new Mortgage Coach has taken me to a higher level of excellence. Mortgage Coach has evolved into a new platform that helps the Mortgage Broker to be a trusted adviser, providing real value to distinguish ourselves from our competition. A lot of people talk about being a trusted adviser when very few actually are. I find using the tools of Mortgage Coach, including the marketing reports and graphs I give to the clients, eliminate the rate shopping objections—as long as I am in the rate ballpark. Mortgage Coach was the first program that I gave a five star review to more than nine years ago. It has gotten better and better since then. I love the changes. It has risen to a new level of excellence. At one point, we were paying somewhere around $1,500 for Mortgage Coach alone; now, they give you so much more for only $595 per year. It still has its great rate watch marketing program (which has gotten better over the years), its total cost analysis with side-by-side comparisons of up to four different loan options (not only at time of closing but at five-, 10- and 30-year intervals), debt consolidation using graphic reports show clients the effects of various pay down options, equity repositioning analysis which encourages you to meet with your clients each year to review their current liability and then make recommendations on how to restructure their debt, and of course the rent vs. own calculations. Okay, now that I have given you the general reasons why I love it, I will go deep in the specifics. Log on to www.mortgagecoach.com. Assuming you are not yet a member, you will see the normal sales promotion messages and three tabs. Take the 45-min. tour with Dave Savage and friends, showing how other mortgage professionals use the blog, live chat, forums and library features to help grow their business. If you are already a member, sign in, and you are looking at the dashboard. Dive right into the "Community" tab. The meet and greet section where you can see who is in the member chat room is where we can talk with fellow brokers around the country, sharing ideas and comments about what is working and what is not. The hot topic while I was writing this review was on the loan modification Webinar and questions of techniques that work and don't work, as well as what is legal and what is not. There are forums. This is where you can have a conversation with the entire community. Send an e-mail to Mortgage Coach, and one of the experts will answer the question. Go to the library where we can upload sales tools, videos and other resources. It's a good search feature; if you want to find a selling tool to promote the Federal Housing Administration, for example, just type it in the search feature and you get answers. There is also a blog feature with industry leaders, about 14 at the moment. The next tab is the software. This alone is worth 10 times the price. Mortgage Coach offers "Marketing Machine," "Opportunity Optimizer," "Index Analyzer" and "Analyze," the flagship software platform. It is the old Mortgage Coach software on steroids. It does so much more and is now customizable. Marketing Machine permits you to make custom flyers with your logo and your picture; it also includes PowerPoint presentations and can send your sales letters via mail or PDF e-mail. The most popular sales tool is the seller buy down marketing flyer. Use the rate watch reports for comparing the customer's actual interest rate with present rates, showing your customer the present adjustable-rate mortgage index options compared with past indexes. I love Analyze. After you have downloaded all your past customers, whether from encompass or point, into Analyze you can send your clients a monthly or quarterly rate watch or a host of other marketing materials. Total cost analysis presents an analysis of different loan programs not only at the time of closing, but over time. It will show how one program might be better for someone who will be out in five years vs. someone who thinks (they rarely do) to hold for 10 years. Analyze has debt consolidation analysis, rent vs. own and equity repositioning analysis. There is a tool called Opportunity Optimizer. You ask the customer 16 questions, and the report generates phenomenal charts and graphs showing how to maximize the client's assets. Basically, it is a great sales presentation tool. It locks in the deal. The client wants you, rather than you selling the client. Bottom line, the Mortgage Coach Community will help you generate more leads, close more loans and help you to present fantastic, good looking reports for both your referral sources and clients. In a marketplace with information overload, Mortgage Coach does a great job of filtering out the clutter to help you focus on the ideas that are working best in this marketplace, and then provide you with the software to actually implement the strategies that are working best in today's market. Go directly to www.mortgagecoach.com and sign up. There are two options: a monthly fee of $59 or yearly fee of $595. There is a 30-day money back guarantee if you don't agree. The only way it will not make you money is if you don't use it. The Mortgage Coach Community is great. I know that as a reviewer I should not sound like a raving fan, but hell, this program and service is great. For the price of a little more than an application fee, you can be able to close several more loans a month and raise your standard of professionalism at the same time. And if that wasn't enough, every Tuesday, Dave Savage does an online Webinar at 9:00 a.m. PST, noon EST, interviewing someone in the industry who is sharing techniques to make more sales and increase value to the customer. At this moment in time, we Mortgage Brokers can use all the help we can get. John D. Svirsky has been a Mortgage Broker for more than 25 years, doing both commercial and residential mortgages. He is also a volunteer firefighter, avid cigar enthusiast and cook. He may be reached by phone at (845) 424-3388 or e-mail [email protected] Product summary Product: Mortgage Coach What is it: A lead generation marketing machine, rate watch, loan buy down analysis and loan comparison generator that combines with your database to market existing and prospective clients on an ongoing basis. It helps you get the client, sell the client and keep the client for years to come. In the process, the client sends you referrals because the reports generated are so impressive, due to your professionalism. It is also an online destination for loan officers to share information through blogs, forum, video training and Webinars. Bottom line: When I make a presentation using Mortgage Coach, the only one who likes it more than the clients are my referral sources (Certified Public Accountants, financial planners and attorneys). Buy it. It pays for itself in the first month easily. Where to buy: www.mortgagecoach.com Training: The training was excellent, as was the follow-through to make sure that I understood the program and the problems were corrected. (Tech support had no clue I was writing this article.) Pricing: $595 yearly or $59 a month, with a 30-day money back guarantee—so if you don't close two additional deals in a month, give them a call and they will refund your money.