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Suggest You - Mortgage Broker Training Article: Easy Realtor Leads
Lets begin by understanding a little more about delegationHopefully this short piece will allow you to assess your own approach and review its effectiveness or otherwise.Definition - Delegation is where part of your own job consciously passed to a subordinate whilst retaining accountability.As management is really about getting things done through people, successful delegation is vital aspect of a manager's job. The more senior you are the more you really delegate and the more effective you become. You're doing more strategic work as you progress upwards within your organization and doing less transactional work.Delegation is something one needs to make a conscious decision about. Looking at your own time and how successful can you be doing everything yourself? Perhaps delegating makes sense to clear your desk of things that you don't have to be doing yourself.Select a subordinate who is not only capable of doing the tasks but will be able to use the experience to grow their own career. This is a win-win experience. Of course you may not have the luxury of selecting your own subordinate and have to take what you get.Then of course strike a balance between delegating too little or too much.Wha
After months of looking you’ve finally found the job of your dreams. The new company loves you and wants you to start work as soon as possible. The only problem is how to quit the job you have? Though you may have fantasized about telling your present boss to take this job and, well, you know how the song goes, there is a right way and a wrong way to quit a job—and just up and quitting in a bout of anger is definitely the wrong way.The right method of quitting a job means formally resigning from your position. And even when you’re excited about leaving and perhaps even desperately want to leave, it can still be hard to actually resign. But it must be done—and the sooner the better. You should resign immediately when you’ve accepted a position with another company. This is particularly important if you’re going to work for a competitor because some companies have policies where this could cause what they consider a conflict of interest and they will want you to leave immediately after you’ve given them your notice.When resigning from a position, you will want to give your employer a written letter of resignation. This letter does not have to be long or detailed, but should include the following:• Salutation to spe
Let’s begin with the why behind the situation. When a realtor promises to give you business, how many potential outcomes are there? Either he will or he won’t? What can cause the agent to not send business? One answer is that he/she could be an agent who closes very little business and legitimately has nothing to give. If this is the case, then you need to ask yourself, why are you spending time with agents who have nothing to give in the first place? The second answer is that the agent told you that business would be sent simply to get you off the phone or to get you out of his/her hair. Finally, the last possibility is that the realtor has had second thoughts or is hesitating to use you because the potential reward has not exceeded the risk of using an untested mortgage broker thus far. The last possibility is the one that most mortgage brokers run into time and again.
So now the question is, what do we do about this? Well, I had a marketing plan that was not only simple and cheap to implement, but it also allowed me to identify who was giving me legitimate excuses and who was blowing me off. The marketing plan was simple. I provided Just Listed and just sold postcards for my agents in addition to open house flyers customized with attached reports. On this surface this does not sound like much does it? Here is how it worked. Every time I give an office presentation I log into the MLS (If you do not have MLS access, then you need to either get it, or partner with a title company who does have it.) and identify the agents who have deals in process. I would then download the agents’ photos to my desktop along with photos and information on the home I targeted. I would prepare a sample Just Listed or Just Sold postcard along with an open house flyer customized with each agents information and respective listing or sold property. I would bring these with me to the presentation and distribute to every agent as a sample of the services I can provide.
These cards and flyers cost me nothing since I prepare them in-house, and the only cost is the 3-4 dollars it cost to get the post cards cut at Kinko’s. As soon as I finished passing the materials out I would also point out the contact information included. The contact information was from agents who already participated in the program who were willing to give live testimonials describing the success of the program. The average agent who participated closed an additional 4-5 transactions per year because of these little cards. This may not seem like much, but let’s look at the numbers. The average closing in North County of my vicinity is about 150-160,000. If the agent is getting full commission, then we are looking at 6-7%. Let’s take the smaller number of 6%. At $150,000 for an average transaction calculated at 6% the average agent can attribute $36,000 - $45,000 in additional income p
Last winter I took a trip to New York City. It was absolutely freezing (remember, I’m from Phoenix where a 120F day is not uncommon) but I’m ready to go again (warmer months, please).There were some great sites to be seen for sure, but I distinctly remember this one fella. He was standing in the middle of the sidewalk, foot traffic swarming around him, and he was just screaming.Not sure what about, but he was definitely screaming. And no one paid him any mind.Odd, eh? Unfortunately, this screaming fella and most businesses are more similar then you may think.When most business owners are asked about their target market they may be able to tell you about the demographics of age, martial status, income, industry. They may be able to even tell you about the psychographics of values, motivations and goals. Each of these descriptors outline an ideal client but none, however, a target market.So what’s a Target Market? I could tell you it’s a Foundation piece for effective marketing, but here’s a better definition:A group of people large enough to be profitable, yet small enough and interrelated enough so that your reputation can precede you.“Large enough to be profitable” should be pretty clear. Go
Let’s begin with the why behind the situation. When a realtor promises to give you business, how many potential outcomes are there? Either he will or he won’t? What can cause the agent to not send business? One answer is that he/she could be an agent who closes very little business and legitimately has nothing to give. If this is the case, then you need to ask yourself, why are you spending time with agents who have nothing to give in the first place? The second answer is that the agent told you that business would be sent simply to get you off the phone or to get you out of his/her hair. Finally, the last possibility is that the realtor has had second thoughts or is hesitating to use you because the potential reward has not exceeded the risk of using an untested mortgage broker thus far. The last possibility is the one that most mortgage brokers run into time and again.
So now the question is, what do we do about this? Well, I had a marketing plan that was not only simple and cheap to implement, but it also allowed me to identify who was giving me legitimate excuses and who was blowing me off. The marketing plan was simple. I provided Just Listed and just sold postcards for my agents in addition to open house flyers customized with attached reports. On this surface this does not sound like much does it? Here is how it worked. Every time I give an office presentation I log into the MLS (If you do not have MLS access, then you need to either get it, or partner with a title company who does have it.) and identify the agents who have deals in process. I would then download the agents’ photos to my desktop along with photos and information on the home I targeted. I would prepare a sample Just Listed or Just Sold postcard along with an open house flyer customized with each agents information and respective listing or sold property. I would bring these with me to the presentation and distribute to every agent as a sample of the services I can provide.
These cards and flyers cost me nothing since I prepare them in-house, and the only cost is the 3-4 dollars it cost to get the post cards cut at Kinko’s. As soon as I finished passing the materials out I would also point out the contact information included. The contact information was from agents who already participated in the program who were willing to give live testimonials describing the success of the program. The average agent who participated closed an additional 4-5 transactions per year because of these little cards. This may not seem like much, but let’s look at the numbers. The average closing in North County of my vicinity is about 150-160,000. If the agent is getting full commission, then we are looking at 6-7%. Let’s take the smaller number of 6%. At $150,000 for an average transaction calculated at 6% the average agent can attribute $36,000 - $45,000 in additional income
Changing jobs is quite natural for many people nowadays. Specialists kept on switching companies looking for a better place to work at. But their functional responsibilities still remain the same. However, such rotation without the change of your occupation is not 100% useful. Psychological research has showed that a person will have more chances to succeed if he changes his vocation once 5 – 7 years. Thus he will acquire new knowledge and experience and he will learn how to deal with new unusual tasks.Even if you have created a dynamic plan for developing your career from a clerk to a senior manager in a particular company new responsibilities don’t substitute old ones, but are just added to the existing duties. In other words, you don’t change your activity – but the sphere of your responsibility becomes wider. In fact, a person keeps on working in the same professional area. However paradoxical it may be, but after a few years since submitting your sales resume you are more likely to lose your sales competence than to gain or improve it. You get tired of routine work; you fulfill your duties mechanically with no zest and enthusiasm. That is why psychologists suggest changing the content of the work not its place. Human resource
So now the question is, what do we do about this? Well, I had a marketing plan that was not only simple and cheap to implement, but it also allowed me to identify who was giving me legitimate excuses and who was blowing me off. The marketing plan was simple. I provided Just Listed and just sold postcards for my agents in addition to open house flyers customized with attached reports. On this surface this does not sound like much does it? Here is how it worked. Every time I give an office presentation I log into the MLS (If you do not have MLS access, then you need to either get it, or partner with a title company who does have it.) and identify the agents who have deals in process. I would then download the agents’ photos to my desktop along with photos and information on the home I targeted. I would prepare a sample Just Listed or Just Sold postcard along with an open house flyer customized with each agents information and respective listing or sold property. I would bring these with me to the presentation and distribute to every agent as a sample of the services I can provide.
These cards and flyers cost me nothing since I prepare them in-house, and the only cost is the 3-4 dollars it cost to get the post cards cut at Kinko’s. As soon as I finished passing the materials out I would also point out the contact information included. The contact information was from agents who already participated in the program who were willing to give live testimonials describing the success of the program. The average agent who participated closed an additional 4-5 transactions per year because of these little cards. This may not seem like much, but let’s look at the numbers. The average closing in North County of my vicinity is about 150-160,000. If the agent is getting full commission, then we are looking at 6-7%. Let’s take the smaller number of 6%. At $150,000 for an average transaction calculated at 6% the average agent can attribute $36,000 - $45,000 in additional income
Examples of employee malfeasance can be better understood when broken down into basic occupation types and categories. By doing so, the underlying principles that contribute to acts of fraud, theft and embezzlement become evident: one must have access, opportunity and motivation.Accounting/ Bookkeeping • Ghost companies • Fictitious employees • Fictitious or inflated invoices • "Cooking the books" inflating and skimming from accounts • Overlapping accounts Automobile and Service Mechanics • Billing customer for unneeded repairs • Failing to do repairs • Substituting inferior parts and products for premium charges • Theft of cash by not reporting invoices to garage • Theft from customer's cars • Intentionally causing additional damages to vehicles • Stealing and using customers' credit card numbers • Billing customer and warranty center for same problem • Selling or using drugsBartenders • Not ringing up sales and keeping the money • Overcharging customers and keeping the difference • Under or over-pour • Hiding inventory discrepancies by putting water in liquor • Theft of liquor and other mercha
These cards and flyers cost me nothing since I prepare them in-house, and the only cost is the 3-4 dollars it cost to get the post cards cut at Kinko’s. As soon as I finished passing the materials out I would also point out the contact information included. The contact information was from agents who already participated in the program who were willing to give live testimonials describing the success of the program. The average agent who participated closed an additional 4-5 transactions per year because of these little cards. This may not seem like much, but let’s look at the numbers. The average closing in North County of my vicinity is about 150-160,000. If the agent is getting full commission, then we are looking at 6-7%. Let’s take the smaller number of 6%. At $150,000 for an average transaction calculated at 6% the average agent can attribute $36,000 - $45,000 in additional income
You are a struggling entrepreneur and sometimes it feels like you are pushing a 3 ton boulder up a steep hill. Costs keep mounting and you are considering giving up. Well before you do, check out these 10 setbacks that Walt Disney had, some were financial nightmares that put him millions of dollars in the red:1) Walt formed his first animation company in Kansas City in 1921. He made a deal with a distribution company in New York, in which he would ship them his cartoons and get paid six months down the road. Flushed with success, he began to experiment with new storytelling techniques, his costs went up and then the distributor went bankrupt. He was forced to dissolve his company and at one point could not pay his rent and was surviving by eating dog food.2) Walt created a mildly successful cartoon character in 1926 called Oswald the Rabbit. When he tried to negotiate with his distributor, Universal Studios, for better rates for each cartoon, he was informed that Universal had obtained ownership of the Oswald character and they had hired Disney's artists out from under him.3) When Walt tried to get MGM studios to distribute Mickey Mouse in 1927 he was told that the idea would never work-- a giant mouse on the screen wou
Once the agency takes its cut the agent can still enjoy an additional 2-3 thousand dollars per month in income for something I do automatically for them. The beauty of this program is that I do not offer it to just anyone. Once the agents are aware of the program, I will follow this touch point each week: Monday: By 9:30 A.M. every agent will get a phone call from me welcoming them to a new week full of possibilities. I will let the agent know that I am prepared to deliver any just listed or just sold postcards to the office for any new listings or sold properties. I will also offer open house flyers while I am at it. If the agent asks for Just Listed cards then I know there is obviously a new client involved. Since I know this, and the agent is aware that I know of this new client, the excuse of "I have no clients to give" is not going to cut it.
An average Monday would result in 20-25% of the agents on the list requesting some sort of marketing material from me. Wednesday: Every Wednesday a motivational email is sent out to all of my agents. This article had to meet several requirements. It had to be directly related to sales or real estate. It had to be personal, and it had to be interesting. No fluff will do here! Friday: On Friday the agents will get another call from me. While this may seem to be excessive from an outsider looking in it is not. See, many agents will now be preparing for open houses over the weekend, and broker opens for Monday and Tuesday. Once again I will typically pick up several more orders for open house flyers and neighborhood reports at this time. Now that we know when and how to implement these touch points, let’s throw a few more details into the mix. When I contact these agents on the phone, what is happening? They are telling me about their new deals. Of course, as I am offering to provide these marketing materials I am also asking if I can provide a preapproval, or run a credit check on the client to make certain that we are not just spinning our wheels with an unqualified buyer or seller.
By letting the agents contact other realtors I work with early on for live testimonials I am also demonstrating that I understand that I need to provide real world evidence as to my abilities instead of just expecting the agent to risk credibility and paychecks by using an unknown entity. It’s one thing for me to tell the agent I’m good. It’s
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