ONE TO ONE -- Mortgage Coach Series(ZT)

Okay, follow me on this one, use your imagination, open your mind, and think of the possibilities! (No this is not a TV commercial!) Every time you close a loan, what if it turned into another loan? Wow! What a great concept! Impossible? No, in fact, very probable! You simply have to understand a few very important yet basic concepts. Let's look at each concept and how it builds into a simple system of "connecting people." The whole system starts with the "power of asking." 

This might seem too simple, but few people ask for what they want in life. Instead, they wait in hopes that someone will read their mind or just be nice enough to automatically think about them. Wake up! That is like hoping that someone will pay your bills for you. Many sales people feel like they are intruding into someone's life when they ask about the possibility of doing a mortgage for the client's friends or relatives or the loan officer feels like they have to "offer" something in return. The truth is you simply have to initiate your "system" every time you meet someone or do a loan for a client. How does the system work? 

To initiate the system, you must buy into a belief that every time you close a loan it should lead to another loan or a new relationship that can help you grow your business. This belief is based on the simple concept of "connecting the dots." Connecting the dots is simply expanding your network each time you close a loan. Let's take a look at a single transaction and the opportunities that exist to connect the dots. 

You are taking a loan application for Mark and Mary Jones. The Jones family is a client of Joan Smith, a real estate agent who recommended that they call you. First, let's focus on Mark and Mary. From the very beginning, create a mindset of support and help. Even start the application by creating that mindset.  "Mr. and Mrs. Jones, I really love what I do, helping people. As we go through this process, if you can think of anyone who would love to own their dream home, I would enjoy showing them how." What a non-threatening way offer your services! Your next step is to hand Mark and Mary a sheet of paper that has categories of people, friends, family, church members, neighbors, co-workers, health club members, and apartment dwellers. When you hand them the sheet, offer it as a thought starter. You can also hand them the form later, once they have grown to like and trust you.  

You just finished the application and as soon as the Jones leave, fill out a hand written thank you card with five of your business cards and one magnetic business card inserted. A few weeks later, you have wonderful news! The loan has been approved! Instead of simply calling, send a simple 'congratulations balloon" with a company giveaway, such as a coffee mug attached with treats, to their places of work! (not a RESPA violation) Insert ten of your business cards. Everyone at work wants to know what is going on and you get a free infomercial as the Jones hand out your business card. 

Finally, the day comes and the loan is closing! You attend to thank your real estate agent, meet the listing agent, and congratulate the Jones. While you are there, you let all parties know that you will be doing a follow-up customer service call. One more opportunity to network. When you meet with Joan Smith, the agent who recommended the Jones use your services, she is elated at the great job you did! At that point, ask Joan a simple question, "Joan, if you had to name two or three real estate professionals who are like you and do an excellent job, who comes to mind?" When Joan gives you the names, you ask the "connecting" question.  "Joan, do you think they would enjoy the same level or service you just received?" You now have the opportunity to connect more dots as you call Joan's recommendations and set up appointments. 

These are just a few examples of the many ways you can expand your network and grow your business. I find that most loan officers do business the hard way, by cold calling or attempting to let thousands of marketing flyers do business for them. You can easily create a "one to one" situation where every loan turns into another loan opportunity or a new business relationship!