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I consider myself a fairly busy guy.  Between my normal daily appointments, classes that I teach, small businesses I run, being married, and what little social life I have left, I always have time to return the calls and emails I receive throughout the day.  I try to get back to people within an hour. That was always my general rule when in the mortgage business, and it’s still my general rule today.

I also consider myself a fairly impatient guy.  Maybe it’s just me, but I figure if I can get back to people quickly, anyone should be able to.  Especially in this “wired” world we live in.  If they don’t, it’s their loss, and I move on.

Such was the case yesterday when a friend of mine called me and left me a voicemail.  Apparently, the house he and his wife have been renting for years is being sold out from under them.  They received a note on the door saying you have 30 days to get out!

He knows I’m pretty well connected in the Real Estate market, even though his specific area of interest isn’t my territory, and asks if I would refer him to a Realtor in that area.  I happen to know two agents in this area that he’s looking, so I decided I would email the both of them and give my friend a choice.  They’re both good people, decent producing agents, and I figured they would take good care of him.   

The email went something like this:

Hey XXXXX,

A good friend of mine is looking to buy a house in the next 30 days in your area.  I don’t have your business card handy, so can you email me your contact info so I can forward it to him please?  He’s being kicked out of his current rental, and needs to get things going pretty quickly.

Thanks,
Jeff

That was sent Monday at 3:30pm.  Today (Tuesday) at 10:15am I finally got a response from one of the agents.  Tick Tock –Too Late.

Is 19 hours too long to wait, or am I just way too impatient?

*As of writing this post a full 24+ hours later, I still have not heard back from agent #2.

Most loan professionals know that staying in front of your sphere of influence is a critical part of getting referrals and repeat business.

On the other hand, I know a lot of loan officers that for whatever reasons have chosen to ignore this fact.  Maybe ignore is too harsh.  Neglect may be a better word.

Neglecting the lifeblood of your business = BAD.

In my last post here on MadMortgageWorld, I discussed “Simple Steps to Running a Successful Mortgage Desk” in which I mentioned managing your time as a key component.  Time management was always a challenge for me as a loan officer.  Looking back, I know I spent way too much time on things that I could have gone without.  Researching (the wrong things), prospecting (in the wrong places), networking (in the wrong groups).  Luckily for our readers here today, I learned by trial and error, and can present some of these experiences so that you don’t have to.

Email marketing was my bread and butter way to stay in touch with past clients, present clients, referral sources, and potential clients.  But honestly, I spent WAY too much time trying to come up with content for my monthly newsletter.

If I could have had an email marketing platform that provided a turnkey solution in which the content was provided for me, but still offer just enough customization for my liking, I probably could have doubled my loan production.  Or, at least had more free time to do the things I love to do.  You know, things like reading MadMortgageWorld.

Anyway, I was at my desk today preparing for a class next week on email marketing, when one of our other business development reps called me into a meeting with a client of hers.  He was showing her the email platform that he developed called www.mylenderpro.com.  That’s right, an email platform developed by a loan officer.  Built by the people, for the people!

Flipping the Switch

At first I was a little skeptical when I heard it was a “set it and forget it” type platform.  But, after a little poking around and some good Q&A with the developer, I was impressed.

This system was built around the idea that the average loan professional doesn’t want to spend time coming up with new and relevant content each month.  They need to be out prospecting, networking, getting new business on their desk.

Here are some of the key things that jumped out at me:

Proprietary Clients – If your clients email address shows up in another loan officer’s database, they will not be allowed to upload it into the system.

Easy List Segmentation -  You can choose current client, past client, referral sources, and even family and friends.  Each segment can receive different emails based on your chosen preferences.

Customizable Fields– Along with the pre-written content, they are allowing blank templates that can be filled with whatever you choose.

Easy to use – Everything is laid out in an easy to use format with tabs and drop down menus.

It’s Inexpensive – not only is it cheap compared to most other email marketing platforms, but add in the time value of money for what you make an hour and this is a real value.

As I sat there watching the presentation, I thought several times “man, I wish I could have used this back in the day”.

I’d love to hear some of our readers thoughts.  What say you?

The following is a guest post from Jeff Bernheisel at www.titlerep.info . I am excited to have him posting some of his great ideas and tips! Yes, the picture to the left is a flawless representation of him…

If you’ve ever attended any of the big mortgage success seminars, you’ve probably heard a hundred ways to run a successful mortgage business. After a few days of looking back on my time in the mortgage world and thinking about it, here are what I consider to be the most important steps. The main difference is these are what worked for me, and I’m not trying to sell you a bunch of junk for the low price of $1,500.

Here are some basic tips to help get started. Whether you’re a brand new loan officer looking for some guidance, or a seasoned veteran looking to update your marketing plan, hopefully these ideas will get the wheels turning. Today only, I have been authorized to pass the savings on to you…

Organize your client data – Invest in some sort of CRM solution and the training on how to use it. Input new clients and referral sources as you go, or update previous info as you upload it into the system. This is also a great excuse for getting back in touch with long lost clients.

Record communication preferences – Email? Phone? Text? Whatever they prefer, you need to know the best way of reaching these people if you plan to stay in front of them. Put it in your CRM system.

Create a follow up system – Track your email newsletters, phone calls, handwritten letters, etc. and when each client last received each “touch”. Consistency is the key here.

I like to rotate through each “touch type” every third month. That way, each quarter my clients heard from me at least once, if not two or three times (depending on their communication preferences).

Manage your time – You can waste a lot of time these days “messing around” on social networking sites like Facebook, MySpace, and LinkedIn. Don’t get me wrong, these sites can all be used to get business, but try to set limits that keep you focused. Set goals on the number of people you want to connect with through each site per week.

Find balance in your life – The mortgage business (or any business really) can be stressful at times. Clients and referral sources can hear it in your voice. It makes them uneasy. Find a release. Something you enjoy doing. Spend time with family, friends or even alone. When you operate at a lower stress level, everything seems to go a little easier.

But wait, there’s more…

Of course there are hundreds or thousands of tips that we’ve all heard over the years. The secret is finding what works best for you and your style/personality. The final piece of advice I can give to help run a successful mortgage business is to keep coming back here for more tips and best practice methods of some of the nation’s true top producers.

Good luck out there!

What’s your greatest success tip?