can fulfill each need helps build credibility and shows that both parties will work together to get loans approved in a timely, predictable manner. The presentation is important to a meeting, but so is listening. A stakeholder will often share ways in which their current mortgage professional is failing them. Listening to these concerns allows a mortgage professional to show how they are better able to meet the stakeholder’s needs. One way to build credibility is to take notes during these meetings and follow up afterward with a personal note or email to address the stakeholder’s key concerns. This note allows a mortgage professional to provide specifics on how they will meet the stakeholder’s needs.
Refocusing
Kurt Reisig is the founder and chief executive officer of American Pacific Mortgage Corporation. He may be reached by phone at (916) 960-1325 or e-mail kareisig@apmortgage.com.
Influence the Influential By Andy W. Harris, CRMS
Prospecting and marketing is a continu- marketing plan and narrowing my tarous effort for those of us in the real estate get client. What type of person should I and finance industries. Successful mar- market my services to that will result in keting, followed by a positive transaction the highest quality referrals? What type and client experience, results in customer of clients do I primarily work with that referrals and database creation. We all provide the most favorable outcome? understand that marketThe answer to these quesing will always be an tions will mold the future ongoing priority in our of your database and transactional-based busibusiness. ness even with these pasI have personally found sive referral sources, but that spending time with how do we maximize the the most quality prospects quality and number of and those in a position of client and business partinfluence provides the ner referrals? most successful outcome Target marketing is a and the highest quality word we hear often as referral. Others trust their entrepreneurs and busiopinion and counsel ness owners. The term is “We all understand when referring peers, typically used when friends and family. Don’t that marketing will researching or developing always be an ongoing get me wrong, I am open a business plan for a speto helping all people priority in our cific geographical area. regardless of income, transactional-based Since many of us in the credit, net worth and business even with industry carry state-specifsocial status, and will ic licensing and specialize these passive referral always provide the same sources, but how do in somewhat broad areas quality of service to each we maximize the around our homes and client. However, if you are place of business, I’ve spending time and effort quality and number always carried a slightly of client and business developing your marketdifferent view with regards ing plan than it’s imporpartner referrals?” to target marketing. I call it tant to think about who “Influence the Influential.” you are marketing to. Like most people, I prefer to maxiIndications you might need to revise mize the little time I have each day your target market: and be as productive as possible. I do this by having a plan in place and You feel like the majority of clients focusing on the tasks that carry the responding to your efforts are highest demands and provide the unable to qualify. most positive results. I follow these continued on page 28 same guidelines when developing a
A short list of companies offering leads for mortgage professional Bankrate.com • 561-630-1257 www.bankrate.com/cpcprogram/ CEO: Thomas R. Evans
Premier Advantage Marketing • 888-799-3959 www.thinkPAM.com Vice President: Tom Emmerson
Type of leads: Cost Per Click, Internet leads, performance based
Type of leads: Targeted mailings, creative design, direct response campaigns
EnVision Direct • 800-922-9860 CEO: Christian DeWorken
Split Test Media, LLC www.Refinance-Mortgage-Leads.com CEO: Michael Andrew
Type of leads: Our clients stay ahead in this changing market with our great service and all-inclusive pricing.
Type of Leads: Internet Leads, Inbound Calls, Branded Leads
FEBRUARY 2011
MortgageLoan.com • (877)-390-4750 CEO: Paul Knag
Type of Leads: Refinance Leads Only. Conventional, FHA, VA, & Jumbo. Rate-And-Term, Cash-Out, & Debt-Consolidation.
NORTH CAROLINA MORTGAGE PROFESSIONAL MAGAZINE
Lead Provider Roundup
27
NationalMortgageProfessional.com
It might seem odd to focus so much attention on the marketing and sales tactics of 20 years ago, but they have proven success and can separate a true mortgage professional from their competition. Prospecting, identifying the right person to meet and conducting a real sales interview (for the exchange of thoughtful questions and diligent listening) are all extremely important to the traditional art lost by many. Leveraging technology is not just a gimmick. It is a way to meet your customers where they are. For example, bringing an iPad to a coffee shop or restaurant is much more effective than lugging a laptop and projector to a conference room for another “boring” presentation that does not differentiate one mortgage professional from another. New technologies also provide a great opportunity to act as a business coach. Teaching clients how to utilize platforms like Facebook or Craigslist to drive traffic to their listings will help clients and continue to build a mutually beneficial business relationship.
Marketing in today’s digital age is different, but the same principles still apply and service is king. The personal relationships built in today’s world can start anywhere. Some will still start at a Chamber of Commerce mixer, while others will start on Twitter, LinkedIn or Facebook. No matter where the relationship starts or where a particular professional focuses their marketing dollars, they must know their customers. Where are they spending their time online? What are they reading? How can you, as a mortgage professional, meet their needs to help your business grow, and how can you ask current clients for more referrals? As compensation reform becomes a reality, clearly mortgage professionals will have to sell and close more loans than they did just a few years ago to maintain the same compensation level. Closing more loans often involves two variables: Up-selling current clients and finding new clients. It is much more cost-effective to up-sell to current clients, which requires listening to their needs, offering superior service and ensuring that each of their needs is met in a timely manner. Marketing is what a business or individual makes it, but many who have succeeded will say that successful marketing is based on research, relationships and retention. Direct mail, social media tools and search engine marketing are all great methods of marketing, depending on the target stakeholder. But without the proper followthrough and quality service, even the best marketing efforts will fail over time. Focus on knowing the potential client and what will help them achieve their goals, not just how they can contribute to a sales quota.