Twitter.

You have probably heard the name if you spend any amount of time on the internet at all. I don’t want to describe Twitter so I will let the experts at Webware do that for me:

“Twitter is an online service that enables you to broadcast short messages to your friends or “followers.” It also lets you specify which Twitter users you want to follow so you can read their messages in one place.

Twitter is designed to work on a mobile phone as well as on a computer. All Twitter messages are limited to 140 characters, so each message can be sent as a single SMS alert. You can’t say much in 140 characters. That’s part of Twitter’s charm.”

Ok, so I hope you get it but, for those of you who need a bit more; check this out. It’s a video by Lee LeFever at the CommonCraft Show and will walk you through Twitter as well.

We aren’t here today for a “how to” though are we? No. We are here to discover how to use Twitter as a lead generating app for mortgage related business! The next sentence is the most crucial part of this entire post. Are you ready?

It doesn’t work that way.

Mortgage generated leads from Twitter will be few and far between. Twitter will be best used by Loan Originators as a way to reach out and connect. Connect with the marketing guru (Chris Brogan) in Massachusetts. Connect with the Globetrotting Entrepreneur (Gwen Bell) down the street. Connect with the genius mortgage broker (Ricardo Bueno) who HAS received business through Twitter. Connect with the Agent right down the street.

Christopher Penn, in the interview found here, describes customers less as consumers and more as connections. The more we connect in authentic transparent relationships with those we meet in the Twittersphere, the more comfortable we become sharing that authenticity with our clients. We begin to bring transparency back into an industry that for the past decade has been shrouded in secrecy.

I know what some of you are thinking; yeah but what about this guy? He broadcasts rates and he’s sure to get “deals” that way. He might but, he’s missing the point entirely. He heard about Twitter ands asked the question “how?” “How can I implement this new technology called Twitter into my mortgage business?” “How can I turn Twitter into a lead churning killer application?” He then grabbed a username and threw himself into the fray. You couldn’t ask to be more commoditized!

The question we have to ask ourselves before jumping on the Twitter-wagon is: “Why?”

“Why am I thinking about using Twitter?”

IF your answer is “because everyone else is doing it;” well then that’s not good enough. If your answer is “I want to discover new connections” you might be on the right track. If that’s the case follow me and we’ll figure this thing out together.

Follow? I have to follow people.

Yes, that’s the terminology Twitter uses for individuals who connect with someone else. Want to know more about how? Click here.

So you want to connect with someone else but, you are a bit shy. No problem. For the most part there exists an unspoken rule in the Twittersphere “if you follow someone, they will follow you.” Start the people I follow, click the small gray follow button under their name and away you go.

Listen to what others are saying and when the conversation is relevant to you, or you see a stray remark fly through Twitter jump in and comment. We’re all actually waiting for you to do so. When you add your voice to the “noise” in Twitter, you lend your creativity, your expertise, your attitude, to the rest of us. Who knows? Someone may need your comment at the exact moment you “tweet” it out.

Twitter Etiquette is saying thank you!

When someone follows you, take the 15-30 seconds out of your busy life to say “thanks for the follow” through a direct message. I discovered this the fun way by being the individual thanked. Read my post here for the enlightenment that followed (no pun intended).

One more thing: Don’t fake it!

You aren’t here to impress. You are here to be yourself and connect with others. That being said I would recommend you work out some kind of Twitter mix. In other words while you don’t want every little tweet to be about rates and the market, don’t lose focus of what you do. You are a mortgage originator! Be proud of that. I try to make sure that I have about a 50/50 mix of work related to personal tweets. For every shout out to Bernanke I might send out a link to a weird YouTube video. Feel me? Nice.

Next week I will nail down Active Rain. Yes, Active Rain, I am coming for you.

Christopher S. Penn
New Media Leader

Think you know about Social Media? Follow Daniel Martin and Christopher Penn as they “take the red pill” and wake up in a world where authenticity rules and customers are connections. Christopher Penn dives deep on Social Media philosophies and gives the Mad Mortgage World Community a roadmap for successful integration of Social Media in the Mortgage Industry.

Read Christopher Penn’s Full Bio Here.

Subscribe in ITunes!
Download the MP3 Here! (Right-click and choose save target as…)

Show Notes:

• Running Time: 35:07
• Audio comment line: Sound off and let your voice be heard by the Mad Mortgage World Community at +1 303-468-0570
• Please send in questions, comments, suggestions, snide remarks, kudos to iammad@madmortgageworld.com
• As always you can connect with your Host Daniel Martin via:
  • Connect via Twitter
  • Connect via Linkedin
  • Connect via Facebook
  • Connect via Email
• Place to find Christopher Penn
  • Christopher’s Blog - Awaken Your Superhero
  • Christopher’s Financial Aid Podcast
  • Christopher’s Marketing Over Coffee Podcast
  • Christopher on Twitter
  • Christopher on Linkedin
• Recommended Reading
  • Dan Ariely’s Book Predictably Irrational
  • Seth Godin’s Books - All Marketers Are Liars
• Google Reader - Try it out!
• Recommended Blogs/Podcasts you MUST subscribe to: (don’t know how click here)
  • Dan Arialy’s Blog
  • Chris Brogan’s Blog
  • Marketing Profs Blog
  • ProBlogger’s Blog
  • Bryan Person’s Blog
  • Mitch Joel’s Blog
  • Ted.com
  • Garr Reynolds’ Blog
• Podcamp.org- Check out all of the upcoming PodCamps
• Building Your Personal Brand Through Podcasting - MitchJoel

So there has been a lot of buzz lately in the real estate industry about Social Media and Social Networking. I have some favorites that I believe are the starting point for those out there who are beginners in this brave new world.

Let’s get down to the question.

I NEED BUSINESS!

Ok, so that’s less a question and more of sobbing heaving moan in the night when you think no one is listening. Over the next few days/weeks I am going to introduce you different Social Media sites and some ways to implement them in your business without taking hours out of your day. I am not starting with the most important; I will save that one for last. However, all sites leading up to the final will be reviewed in random order. That being said and out of the way, let’s begin with Linkedin.

After much research I feel like this will be the safest place for loan originators who are beginning to get their feet wet in the waters of social media to begin. Linkedin is a social networking site for professionals who want to get “Linkedin” with other professionals. Many people I speak to reference Linkedin as an online resume only because they have no clue how/when to use it. So here a few quick tips to get the most from your Linkedin profile as a loan originator.

1. Place the Linkedin logo in your email signature and reference it on your business card. Give the people you email and talk to most the chance to see who you are, what you’ve done, and how many recommendations you have. That being said…
2. Get recommendations! Connect with your Real Estate Agents, Title Reps, Stagers, Past Clients, etc. and ask each and every one of them to give you a recommendation. The worst they are going to say is “no!” Recommendations look great on your profile and, according to Sean Nelson, author of Linkedin 101, getting recommended by past client will rank you higher in Linkedin’s list of Service Providers. Encourage agents you meet to check out your profile to discover what others have said about you.
3. Learn from the best. Anytime you invest a part of yourself and your valuable time do it right. I have included some resources for you to start with:
   1. Wikipedia
   2. Sean Nelson’s Blog
   3. Scott Allen’s Blog
   4. Chris Rollyson’s Executive Guide to LinkedIn
   5. Peter Nguyen’s LinkedIn User Manual
   6. Chris Brogan
   7. Christopher Penn’s Video on Using Linkedin to Build Your Personal Network
4. Be consistent. I spend about 1 hour per week on Linkedin spread out over a few days. Try to make 3 new friends a week. That’s it. Over the course of a year your network will be 150+ strong and you will be very well connected.

I want to end this post with a quote from my friend and colleague Brian Kludt, “there is no magic bullet, what a bunch of morons.” Many Originators are out in the Lendospere (I just made that up) chasing their tales. In this day and age it is not how many people you get your services in front of, it is who you get your services in front of correctly. Linkedin will place you into a group of professional seeking professionals. While you are at it connect with me on Linkedin!

Next week – we will talk about Twitter. What it is and how the most successful Originators have included it in their business.

More about the author Daniel Martin.

Read Daniel Rothamel’s Full Bio Here

Subscribe in ITunes!
Download the MP3 Here! (Right-click and choose save target as…)

Show Notes:

• Running Time: 42:50
• Audio comment line: Sound off and let your voice be heard by the Mad Mortgage World Community at +1 303-468-0570
• Please send in questions, comments, suggestions, snide remarks, kudos to iammad@madmortgageworld.com
• As always you can connect with your Host Daniel Martin via:
  • • Twitter
    • Linkedin
    • Facebook
• Daniel Rothamel’s Web Site
• Twitter
• Follow Daniel Rothamel on Twitter
• Twitter Cheers Video
• Brightkite

The old saying goes, “they don’t care how much you know unti they know how much you care.”

It doesn’t work that way. Ever.

I know this topic may seem like a bit of a downer but, we have always been taught to “let them know that you care.” Many of the old guard will still swear by the “good ole boy” system.” The “I gotta guy…” system.

As The Millenials (Gen Y, Baby Boomers the Sequel) turn 30 this year the one thing they want for Christmas is: An Expert. They are begging to be intercepted by experts. They only care about how much you know, and it better be more than them. Allow me to explain.

Greater thanIn 2005, 40% were Generation X and 39% were Echo Boomers ” that’s 8 out of every 10 new homebuyers and 70% of all home buyers begin their search online.

A search by definition is a journey of discovery for a specific peice of information, location, etc. When we search we have an idea of what we are looking for but, we don’t know where to find it.

Enter today’s loan officer.

As more and more people begin their search online, loan officers have more and more opportunity to intercept the searching with their mortgage industry expertise. What are the steps in this quest for the expert’s interception?

#1 Start with a blog!

When you have signed up, received a username, and realize you have no idea what to blog about, do some research. Search for terms like “blog, social media, social networking, journaling, writing,” get intercepted by experts out there in those categories. Discover what it it like to be on the receiving end and remain aware of your impressions.

#2 Listen and Learn!

If I were you I would stop by Chris Brogan’s Blog and check out his Social Media 100 Experiment. I would also do a drive by on the following sites to garner some wisdom from those who have gone before you.

http://www.ricardobueno.com/ - Loan Officer Ricardo Bueno’s Blog
http://www.themortgagereports.com/ -Loan Officer Dan Green’s Blog

I would also make sure I visited Lenderama to discover what other Real Estate Professionals are saying in the blogosphere.

#3 Act on it!

Write, just write. Get personal. Get professional. Get busy. If you can’t think of anything or just don’t want to write,  utilize a tool like “Bring the Blog.”

Email me your blogs as you get them up and running! I want to see your success. As always you can reach me at daniel (at) madmortgageworld (dot) com.

More About the Author Daniel Martin.

In this episode Daniel discusses the 99 to 1 rule, makes sweet vocal love to Seth Godin’s book Meatball Sundae, and points loan officers looking to be different in a solid direction.

Download the Podcast Here! (right-click and save target as…)

• Seth Godin’s Meatball Sundae
• How to get a Blog
• What is a blog and how does it work?
• Chris Brogan’s Social Media 100 Experiment
• An Animal I would run from if I saw it charging toward me…