Week 4 - Developing your core group of Realtors

This is one of my favorite techniques for helping loan officers keep focused on their Realtor Marketing.  This is very simple and easy to use.  Simply print it out each Monday and work diligently to have as many contacts as possible as you go through the week.

This week, take the time to determine which Realtors you want on your list and gather all their contact information and birthdays.  Your list should include agents you currently work with as well as those you want to develop a relationship with.  Deciding on which agents to target can be difficult.  Here are a few suggestions: 

• Your manager - he may be aware of who would fit well with your personality.
• Title officers or title company staff
• Friends/family – find out Realtors they personally know or have used in the past as this may open doors for you.
• Realtors you currently know or work with – ask if they would recommend any agents in their office that you could successfully target for future business.
• New Realtors – 80% may quit by year 2, but you may find a superstar!

Your list is not set in stone – be flexible with the names placed on this list.  Over time, you will get a feel for prospects that are worth your time and effort and those that are not helping your business grow.   A Realtor may be the nicest person you know, but if they are unwilling or unable to send referrals your way, it is best to replace them with another name.  An interesting thing will happen as you start this marketing program, the Realtors that receive your marketing pieces will be so impressed that they will start talking about you to others in their office.  You may even find Realtors not on your list calling you!  This will give you the opportunity to adjust or expand your list.

p.s.  How did your "Marketing Past and Future" assignment go last week?  Click here to see all Monday's Coach Posts.

Today President Obama signed a bill to extend the tax credit for first time homebuyer through June 30, 2010.  The exciting part is that the new bill offers the credit to current homeowners as well.

This is a great opportunity for you to be a resource to your sphere of influence.  Learn as much as you can about the details (see NAR article) and then get out there and start talking.  Here are some marketing ideas for you:

• Send an email out to your ENTIRE database.  I'm sure the Realtors have already heard about it, but you are letting them know that you are aware and knowledgeable.
• Call a few of your top Realtors and see if they want to put on a seminar about this.  Don't hesitate on this one... the early bird gets the worm!
• Send out a postcard to your database explaining the extension and changes.
• Call all of your prospects that are still looking for a home.  Get them excited to find a house.
• Send an email to your prospects giving them the details... especially if they are current homeowners and would fit into the new category.
• Talk to anyone and everyone!

There are quite a few new readers to my blog and so I will be sharing "the best of" from the past 3 years of my blog on the first Friday of each month.

One year ago:
Speeding tickets should be tax deductible.  Here's how I relate my evil chihuahua and a speeding ticket to marketing.  Really.

Realtor phone calls for Thanksgiving.  A must read if you are staying in town for the holiday.

Do you need a new picture?  Make sure your professional photo is up-to-date and flattering.

Two years ago:
Do you have more time than applications?  Part I  In this first post, I talk about the importance of being educated to increase your confidence and other's positive perception of you.

Do you have more time than applications?  Part II  It's all about networking and increasing the number of people who know who you are and what you do for a living.

Do you have more time than applications?  Part III  Here I talk about marketing activities and what you should be doing to generate more business.

Three years ago:
How you approach problems is crucial to your success.  Tips to help you reduce the number of fires you are spending time on so you can spend more time producing.

Asking for Referrals.  You know you should do it, but are you?  Don't miss out on the opportunity for more referrals just because you are not comfortable asking.

Does your underwriter like you?  There is a good chance that your underwriter (and processor) has NOT liked you at one time or another.  Here are some ideas to help you keep those relationships positive.

Did you miss yesterday's call or want to listen again? 
Then here's your chance!

During this one hour webinar, I covered the following:

• Database secrets to building a steady pipeline.
• Networking.  Casual and formal tools to grow your network of contacts.
• Realtor strategies to motivate them to send you referrals

Tips on staying motivated with your marketing.

You will also receive valuable downloads to get you moving forward with all these ideas.  Don’t miss this opportunity to jump start your business and GET YOUR PHONE TO RING!

Click Here to Listen

This was a fun idea that I did a number of years ago.  I sent my database a letter explaining that I wanted to decorate our office with something new and was having a coloring contest for children.  Here are a few specifics:

 

• You can have them design their own or send a pre-designed page for them to color.
• Have a couple of prizes such as Toys R Us gift certificates.
• Give prizes to different age groups.
• Set a deadline of when you want the pictures back in your office.
• You can also take the contest around to your Realtors or other referral partners
• Email out to your database with a .pdf of the coloring page. 
• Get your staff excited to generate a few pictures.
• Kids love this... you just have to get the word out.
• Send a thank you out to all the entries with a coupon for McDonalds or something similar that doesn't cost much.
• Take a picture of your decorated office to post on your website.

Here are some coloring page ideas:

Week 3 - Marketing past and future

In the coming weeks and months, I am going to give you quite a few marketing ideas to help you build and maintain strong referral relationships and (of course) get new loans in the pipeline.  But before we start piling on NEW things, I want you to take a look at where you have been and decide where you want to be.  Here are the steps....

• Block out two TIMES this week, one for an hour in the next day or so and another one for 30 minutes later in the week.  TURN OFF YOUR PHONE(s), EMAIL AND OTHER DISTRACTIONS DURING THESE TIMES.  (That was me yelling, since I know this is difficult for many... but I was yelling in a nice way)

Here is your assignment for the first block of time:

Marketing Past

1. List all the marketing activities you have done in the past.  The good, the bad and the ugly.  Start a new file on your computer titled "Past Marketing".  EVERYTHING you have done.  One on one lunches, big or small events, all forms of advertising, any database marketing etc. 
2. Go back to the list and put an (*) or other mark next to the items that you enjoyed the most.  Those things you would most likely do again.
3. Sort the list into three categories according to success.   Level A was highly successful with a high return on investment.  Level B had some success, or was perhaps difficult to rate a specific return on investment (some marketing is purely done for name awareness and you may not be able to track specific loans to the activity).  Level C was not successful and you probably won't attempt it again.
4. Now look to see if there is a pattern of the things you enjoyed doing and those that brought you referrals.

Marketing Future

1. Start a new file on your computer titled "Future Marketing" and list ALL of the marketing ideas you want to be doing going forward.  This will include things you have been doing that were enjoyable and successful along with anything you think might be successful.  Even if you aren't sure about it and it is just at the idea stage... get it on the list.
2. Look through your office and through files and websites you have bookmarked for other ideas you want to put on this future list.  Nothing is too small or crazy.  This is your idea list!
3. Print both past and future lists off and have them on your desk until you get to the second time block.

During your second time block:

1. Review the both lists and see if you can add anything to either list.
2. On the "Future" list note with an (*) the items you want to be part of your business at this time.
3. Create a new file on your computer titled "Current Marketing Tasks" and list the daily, weekly, monthly and quarterly list of marketing activities you want to be focused on.
4. Calendar in those items and make a list of all the next steps necessary for each one.
5. Schedule a recurring appointment for Monday mornings (should only take you about 10 minutes each week) to review and revise this list along with scheduling all activities and steps you need to take to make sure each item gets accomplished to the best of your ability.

Getting things implemented and staying focused are the most common struggle I see with loan officers.  These steps will help you to overcome this and get a bit of momentum going in your business.  You will then be ready to add in new marketing ideas as we go along in this coaching.

p.s.  How did you do in last week's assignment of getting organized??

Click here to see all Monday's Coach posts.

I am considering offering a 4-week Realtor Marketing E-course in January and want to see if there is interest in this format of instruction. 

For one low price (amount is still under contemplation), you will have access to four one-hour sessions that will cover all aspects of Realtor Marketing.  You will also be giving specific marketing pieces and tools to help you with all aspects of your Realtor Marketing.  We'll keep the class fairly small so it can be interactive with questions and comments.

January is a great time to jump-start your marketing and implement new ideas so if you think you might be interested - just let me know in the comments section below.  I also welcome any ideas on what you would like to have covered.

Thanks!

Blogging is a great way to gain credibility and do a bit of on-line networking.  But blogging is hard... it takes time and lots of work to continually write new (and hopefully interesting) content.  Without that, you won't have readers.  You can keep blogging, but it's probably just for yourself.  And maybe your mom.

I've been blogging for over three years now and have found it to be a fantastic way to not only reach out, but to also improve myself.  I am ALWAYS searching for ideas to share and in doing so I have learned much and grown in my marketing skills.

If you have a blog or are thinking of adding a blog to your marketing arsenal, click here for ideas on why, what and how to blog.  If you would like a humorous approach on how to build traffic to your blog then take a look at this article -  97 Ways to Build traffic...

btw - my faves on the above mentioned article are 27,41,50,56,81,94,95,96.  Those definitely aren't the ones that made me laugh, you'll have to guess which ones those were.

Jeffrey Tang recently did a guest post over at Zen Habits that I thought offered many of us in this industry some great advice.  I've been noticing more and more people that just feel burned out. Not motivated.  Stuck in a rut.  And guess what's the first thing to go when you head down that path?  Your marketing!

Tang actually has 12 ways to fight burnout, here are my favorite six.  (Read entire article here) 

1.  Work less. Cut down on the amount of energy and time you spend working. Working less doesn’t mean you have to slack off or get less done. It does mean that you:

• Eliminate unnecessary tasks.
• Take strategic breaks.
• Stop multi-tasking.
• Seek help from other people.

2.  Define success realistically. There’s absolutely nothing wrong with having big dreams and big ambitions. But if you’re constantly frustrated by a lack of progress, it might be time to take a step back and examine your goals. Are they achievable? Are you holding yourself to a reasonable timeline?

Here’s a good way to do this. Get a piece of paper and write down your big, ambitious goal. Then write down at least 10 specific, concrete steps that will allow you to achieve that goal. Be as detailed as possible. If you can’t come up with a series of down-to-earth steps to get you from here to your dream, that’s a sign that you need to either redefine your goals or rethink the way you’re pursuing those goals.

3.  Take it slow(er). The world tells us to rush things: “Get there faster. Make money quicker. Retire sooner.” And while these things aren’t necessarily bad, they can easily get us in over our heads. If you’re feeling burned out and overwhelmed, it’s time to slow down.  A few ways to take yourself out of 24/7 high gear:

• Spend at least 10 minutes a day in a quiet place, away from distractions. Breathe.
• Put together a playlist of slow, relaxing music. Listen to it whenever you start feeling frazzled.
• Take a butcher knife to your to-do list. Set a limit to the number of tasks you  take on each day and stick to it.
• Extend your deadlines. Do you absolutely, positively have to get this done now? Just remember – this isn’t an excuse to procrastinate.

4.  When you’re working, focus. I’ve found that concentrating on work is actually less exhausting than allowing yourself to be wishy-washy about it. When you decide that it’s time to work, buckle down, eliminate distractions, and do it wholeheartedly. There’s something amazingly refreshing about pure, sharp focus.

5.  Know when to power through it. This is going to sound out of place given what I’ve said above, but it’s powerful – if applied correctly. Sometimes the solution for burnout is just to power through it. Sometimes burnout can be an illusion. In these cases, the best choice is to refuse to use burnout as an excuse, ignore the fact that you feel burned out, and just work through it. It’s like a runner gaining her second wind and coming out stronger on the other side.

However, just as an experienced athlete knows when to push through the pain and when to pull back, you’ll need to be very careful how you take this particular piece of advice. Until you develop a keen awareness of your own tendencies, it’s usually better to err on the side of caution and pull back when you start feeling burned out.

6.  Never accept defeat. Burnout is an obstacle like any other. It can hold you back for a while, but it’s not the end of the world – unless you let it defeat you.

If you have a great goal in mind, don’t give up on it, no matter how apathetic, exhausted, or frustrated you might feel. If everything I’ve said up until this point fails, do this: hold on to your dream – even if it doesn’t feel like much of a dream at the moment. Hold on to it anyway. That way, when the storm clears, your dream will still be intact, ready for another try.

Mortgage originating is a difficult, demanding profession with a good dose of frustration on most days.  But the rewards are fantastic and I wouldn't be involved with any other industry.  If you can work through the burn out and focus on your goals by consistently moving forward and staying focused on your marketing, you will be successful.

Welcome to my new series!  I have seen the power of coaching many times over and have pondered how to offer this through my blog.   After a bit of thought, I've decided to start a Monday's Coach series.  Each Monday I will be posting a marketing or time management task for the week.  This will cover a variety of strategies and tools and I strongly encourage you to take the challenge each Monday... the hope is that you see an increase in production with less stress and time at the office.  Sounds great to me!

Week 1 Challenge - Being accountable. 

Having an accountability partner is a great tool to help you reach your goals and stretch your abilities.  One of the key elements of every coaching program is holding yourself accountable.  Reading through this blog each Monday and working on the challenge is great, but the chance of you being HIGHLY successful with each of these tasks increases when you know you will be reporting your success and struggles to someone.

A couple of suggestions... pick one that suits you best!

Team up with another originator that is also doing this Monday Coaching.  You don’t have to be in the same office or even the same state.  Set up a time each week to talk, share what was good in the past week along with any struggles you had.  Go over the prior weeks assignment and review the new task.  Keep each other motivated and on track.  

Work with your manager to hold you accountable each week.  This can be as simple as an email where you state what the task was and what you accomplished or you can have a sit-down chat about your marketing and what you are working on. 

Knowing that you will be reviewing your work with someone is motivating and often makes you more productive.  It’s also important to have a supportive voice each week.

MANAGERS - Encourage your team to work on their marketing through my Monday's Coach. 

Feel free to comment on each post with your struggles, successes and questions.  We can all learn from each other!!