FOOLISH ADVICE FOR LOAN OFFICERS ON APRIL FOOLS DAY
think about these and leave your thoughts
Today is April fools day and so I wanted to share are foolish things we are taught to do as a loan officer that it took me many years to figure out don’t work….
Unfortunately many gurus still “teach” these tactics..and many loan officers are still following this advice.. and having bad results….
Sometimes if you want to be successful you have to stand out by looking around at what everyone else is doing and do the exact opposite- Jim Rohn
So what are we taught and what are we doing… most importantly what should we do instead..
Go out and meet agents and share with them all the ways you can help them..
This is the same things we all do..
There are a number of issues with this idea- starting with WHERE do you meet them and what do you offer to provide value..
INSTEAD- you should be ATTRACTING THEM .. not begging- no coffee- no lunch - no showing up to an open house as an annoying pest
You can do this by teaching classes at your local board of realtors and in partnership with title companies at your own online or in person events..
In fact I shared this program with dozens of loan officers who are now doing these … probably in your market area.. so should you ..
Here’s everything you need including marketing flyers- presentations and
recordings of my events so you can practice..
https://briansacks.samcart.com/products/50-new/I was taught that agents only care about your level of service - meaning you have to be available 24/7 and your pricing…
So you meet an agent and you tell them about all of YOUR wonderful programs and about how you work 24/7/365 and will sit in open houseses with them * ruining your weekend* and always be available for their calls.. * which leads to burnout and frustration.*
Then you share all the cool programs— these days there are VERY FEW unique programs.. we all pretty much have the same ones….
SO WHAT DO YOU DO…
- As mentioned in # 1- you educate them -
Agents don’t know many of these programs exist or how to even use them for their buyers.
BUT YOU ALSO HAVE TO UNDERSTAND ONE OTHER IMPORTANT ISSUE!!!
Agents don’t really care about rates- sometimes they don’t even care about service…
WHAT THEY REALLY WANT TO DO IS SELL MORE HOMES…
QUESTION FOR YOU - How can you help agents sell more homes???One way I do this and have taught other top originators to do is to have homebuyer workshops —
But with a twist..
Run them once- and then they play as if they were live weekly…
then on Mondays I call each agent and send them the list of buyers who attended our workshops in the past week to reach out and convert them to pre-approved buyers..Took me years to perfect this and I put it all in a system along with the training and actual presentations ( 4 of different topics) and the slides so you can use them ASAP>….
https://briansacks.samcart.com/products/wowThink about that— instead of telling them about my programs and that I am a mortgage 7/11 — INstead I invite them to do some marketing with me to attract buyers and form a PARTNERSHIP!!!
Just to recap…
I attract them by educating them which shows them I know what I am doing and they tend to feel like they “know” like” and “trust me” after the presentation
Then- they often ask me to meet ..or zoom-
Yes- I tell them about programs- service etc.. but then I ask them ( assuming they are my target agent profile—not all agents deserve your attention) if they would like to do a homebuyer event-
It brings us closer- shows them I am a partner not a beggar- and gives me a reason to call them each week with new business- sort of like “crack” for agents!
What mistakes do you make and what are your solutions..Dedicate To Increasing YOUR Production
Brian Sacks
PS # 1- some big news coming to the Underground so stay tuned..PS # 2 - feel free to share this with anyone you think needs to see it