What's working for you in this market?

[eliseocisneros]

I want to know what everyone is doing to stay busy and generate revenue.

I have been marketing to all of my past database and have gotten loans of that. I have organized seminars and gotten loans of that also. I have also been getting involved in social organizations to network. I have been cold calling realtors, financial advisors, tax accountants and estate planners. I have staying pretty busy thank God.

I don't advertise or send direct mail to different farm lists. It is a waste of money. About 65% of my business is through referrals. 25% is through new business, which are seminars and networking.

I want to know what is working for you. Please let me know and good luck.

[markone666]

Mortgage business is becoming my part-time job. I can't take the heat no more. So my business is currently 100% refferals.

[markone666]

Mortgage business is becoming my part-time job so at the moment 100% of my business is refferals.

[mortgageme]

Hey Eliseo thanks for sharing some of your methods. I also have a mostly referral based business. I have a few realtors I have partnered up with successfully. I've also done a few events in the community. I was wondering how do you market your seminars? How do you typically approach the estate planners and other professionals?:)

[eliseocisneros]

When I host seminars I focus on a certain neighborhoods. I research the neighborhood by investigating if that neighborhood has a council. If they have a council I get in contact with the President of the council and discuss an opportunity of how my presentation is going to benefit the neighborhood homeowners. Most council find these presentations beneficial to the neighborhood since most of them are homeowners. I then let them put me as a featured speaker where there is not cost to me on the advertisement part. If there isn't a neighborhood council then I make sure it is a neighborhood where I know someone that lives there. I send them an invitation to the seminar offering them free food, credit report, and child care on an weekday evening. I make sure it close by at a restaurant or pizza parlor where they usually go. If it is at a neighboorhood pizza parlor I usually have them post an ad on their window to attract more people.

This gives you an opportunity to expose yourself in the most least expensive way. If you don't have a good turn out don't get discouraged because, remember, everything is a hit and miss.

I am always calling on all professionals who are indirectly related to the mortgage industry. I have called on 40 realtors and have set about 15appointments. From those appointments I am working with 7 realtors. I have done the same with financial advisors and am currently working with 4 financial advisors. I am working on establishing more relationships with financial planners. I have one estate planner, but this was a referral. She gives me at least 1 loan per month. Make sure you take care of your relationships by positioning yourself as a trusted advisor. Make you differentiate yourself. Also always try to add value to your relationship.

I hope this information helps you with your practice.

[matthew42]

We have had an influx of both Mortgage and Real Estate professionals enrolling in our Broker program...

www.convertturndowns.com (http:// www.convertturndowns.com)

5-10 clients enrolled in the program are loan worthy in the first 45 days!

[loanbanker]

I want to know what everyone is doing to stay busy and generate revenue.

I have been marketing to all of my past database and have gotten loans of that. I have organized seminars and gotten loans of that also. I have also been getting involved in social organizations to network. I have been cold calling realtors, financial advisors, tax accountants and estate planners. I have staying pretty busy thank God.

I don't advertise or send direct mail to different farm lists. It is a waste of money. About 65% of my business is through referrals. 25% is through new business, which are seminars and networking.

I want to know what is working for you. Please let me know and good luck.


For now I am focusing on live transfers. I generate these myself. I also have been quite sucessful with a niche site of mine www.dontforclose.com

It is of course an equity hunt from there but in this market I can no longer be picky.

[arscherer]

Hey Folks, I just posted my "incubation method", or at least the general idea of it on the following Forum:

"The SOLUTION to the Alt-A & Subprime Demise"

Hopefully all of you LO's and brokers out there are doing this and converting your turn downs into future loans and referral business!

I agree that this market is not giving us the marketshare that we all as real estate professionals need, but NAR did mention that it will be a complete and utter fall-out of Realtors and Loan Officers. Let's prove them wrong and stick together through this thing!

-Andy Scherer
Countrywide Home Loan Consultant
315-264-1323 (Cell)
203-755-2900 (Office)
Andrew_Scherer@Countrywide.com