Scary Times For Loan Officers- Part 4 of 4
Gotta know where you are going first!
Yes these are actually scary times for originators and agents- but it is also a good time to take market share away from those who are leaving the business…
Law of the jungle- the strongest survive - but not only that- they also get stronger…
For the past 3 posts we have been dealing with tactics and strategies…..
BUT THE SCARIEST THING I SEE IS ORIGINATORS WITH NO IDEA OF WHAT THEY WANT TO ACCOMPLISH- OR HOW TO ACCOMPLISH IT
AND FEW HAVE A PLAN AND TRACK THEIR PROGRESS…
COUNT SACKSULA HERE WITH THE SOLUTION
Like any road trip sometimes you take a wrong turn- but that doesn’t mean you abdandon the trip and go home.. you just readjust and get back on track..
So lets break this down… as an example-
You want to earn 125,000
Your average loan is 250000 and you earn 100 basis points- or 2500 a loan
100,000/2500 is 50 loans a year- 4 loans a month - 1 loan a week…
That’s where most of us stop… we dream up a number and then maybe even take the time to break it down..
BUT THEN WHAT??»
HOW WILL YOU DO 4 loans a month??
THEN YOU NEED TO GO BACK EACH MONTH TO SEE IF YOU DID IT AND IF THOSE LOANS CAME FROM THE PLACES YOU EXPECTED… OR IF YOU NEED TO ADJUST YOUR EFFORTS
Here are some sources:
REFERALS FROM PAST CLIENTS
REFERRALS FROM AGENTS
REFERRALS FROM other professionals- attorney- accountant -financial planner
Direct to consumer- workshops - letters - books- ads
Workshops
**** my newest model- a book- to a workshop - to a prequal- where lead gen cost is zero since the ads are covered by the sale of the book and workshop*****
Other loan officers— from banks -credit unions etc who don’t have some of the programs you might have to offer
The list can go on but don’t miss the point-
You must have at least 3-4 different ways of generating business each and every month..
Now each month on the last day of the month- you review where your business came from and adjust
What worked
What didn’t
Why?
YOU MUST QUANITFY YOUR BUSINESS WITH REAL DATES AND NUMBERS
I will close 4 loans in NOVEMBER -
1 from agent referral
1 from past client referral
2 from _______
then market accordiing to your plan
This is exactly why I created the Top Orginator Software to show me where I was year to date- which realtors are giving me business and which are not ( ones i should focus more on)
Which tactics are working.
Where am I with my yearly goal and monthly goal
THIS SOFTWARE IS SO IMPORTANT THAT I GIVE IT TO ALL PAID SUBSCRIBERS OF THE TOP ORIGINATOR UNDERGROUND…
Plus each month you will get
ONE tactic to implement that will immediately generate calls and deals
A monday morning Mindset to get your week off to a good start
A done for you article you can use to get PR and for social media post
plus some pretty cool unannounced bonuses
and the vast library of past posts
All for only 29.99 a month - no long term contract- cancel anytime
Stop being scared and join 4739 other originators who subscribe to the
Top Originator Underground
Dedicated To Increasing YOUR Production
Brian Sacks
PS- feel free to leave your thoughts
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