MortgagePro News

The tools and news to help your business Thrive Now!!
Recommended Resources
The actual tools, resources, training programs that we Recommend and Use.

Announcements!!

Teleclasses and Workshops

2008 Teleclasses &
Workshops !!

Saturday May 10th
Supercharge Your Blog!

A Hands-On Social Media / Web 2.0 Workshop

Learn How To Build and Super Charge Your Blog!

Hosted by
Ted Prodromou of
Net Biz Experts
Learn More Here

 
Sign up now to be notiifed of future teleclasses and replays. As an added bonus, you will receive our weekly newsletter full of articles, tips and recommended resources,

  Sign-Up Now!!

Featured Sponsors

Mortgage Lead Management
Increase loan conversions and spend less money on leads with enterprise Lead Pipeline Tracking and Sales Lead Management software from the #1 leader in the mortgage industry:
Leads360.com - (888)508-4462
 
 

Free Report by Jon Esposito,
Niche Marketing Expert

Get 3 Free Months
of Jon's Newsletter

How Much Direct Mail?
December 24, 2007
Q: I seem to be struggling with some of our loan officers about how much direct mail we need to send to get a good response.  In my humble opinion a 1% call rate on direct mail is good.  Can you offer any advice on these two thoughts? 

Thank you,
Christopher Wilhelm  Business Development Coordinator
 
A: Christopher--you are asking the wrong guy. When they come to my class for advanced training they come in asking question such as---where do I purchase leads?  When they leave, they want to stop sending out direct mail and start building up a referral system the right way. In my opinion--though this  may be a business model for your company--the only way to a good long-term career in the industry is a referral-based business. Direct mail is expensive, the responses tend to be “rate shoppers” or “miracle-wishers” and there are no long-term relationships to be had. Basically, the loan officers burn out because they are on a treadmill. That is why most “inside shops” can be lucrative for loan officers but also tend to have very high turnover rates.  

At the least you should do what I do when I get inside sales people at my class. Show them how to convert these leads into relationships so that you are not dependent upon this forever. Use your system to let them evolve. Without evolution there is burnout.

If you are a manager reading this, the concept I am talking about also has a lot to do with successful recruiting. What do I mean? Next week, I will reveal the correlation… Dave

Ask The Expert is an exclusive feature of Origination Update. If you have a question on finance, sales, marketing or leadership you would like to ask—email me at This e-mail address is being protected from spam bots, you need JavaScript enabled to view it
 
[ Back ]

Ask The Expert

Setting Priorities
Written by Dave Hershman   
Q: Dave, last week you spoke about time management and prioritization to a former student. I am a producing manager. How can I help my loan officers with their time management when I can’t keep up with my own schedule? By the way, I am going to register to come to your management conference in April because this issue seems to be a focus of the conference. But I would like to start implementing things now…John From Chicago
 
A: You are absolutely correct about our focus. It has never made any sense to me that we take a producing loan officer who has a full-time job and then make them a producing manager which basically adds about three other full-time jobs—recruiting, training and leading. All the while, the need for
Read more...
 

Spotlight Article

Your Mother Taught You What You Needed To Know In Sales--
Written by Dave Hershman   

 Your Mother Taught You What You Needed To Know In Sales--
Create A GREAT First Impression!
(Creating a first impression is an art more than a science.)Dave Hershman

It is an inescapable fact that you only have one chance to make a first impression. All the greatest marketing and networking tools in the world will not work if you cannot get to first base with a prospect. This is true whether your first impression is made face-to-face, on the phone or via an email.

Today competition is too fierce and resources too short in supply for you to waste your time and money generating response and then striking out. If your conversion rates are not what they should be—consider starting out by putting your best foot forward.

Read more...
 

Financial-Market Update

Resources
Mortgage Calculators

mortgage caclulators

Mortgage Calculators