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.
