Another Fact-Filled, Lead Generating, Time Saving, Money Producing, Make Sense Mortgage Marketing Tip From Reed Hoisington

"How to Turn the Tables on the Mortgage Process So That Prospects are Seeking You Out (Rather Than Rejecting Your Cold Calls) Enabling You to Spend Your Valuable Time on the Parts of the Job You Really Enjoy!..."

The way most mortgage professionals approach generating leads is entirely backwards, and it’s this thinking that leads to the frustration, fall out and burn out that is so typical of our industry.

To begin to understand the problem, let's look at the way a typical mortgage professional spends their time. I think you'll all agree that there are really four stages in the Mortgage process:

You have to FIND prospects
You have to CONVERT these prospects into clients
You have to provide exceptional SERVICE so that they become happy lifelong clients
You have to LEVERAGE this one customer's satisfaction so they will give you their repeat business and REFER you to others

Now the difference between me and the average MORTGAGE PROFESSIONAL isn't in the definition of these four stages. These are the exact same four stages I go through in the life cycle of every one of my clients (and by the way, they're also the exact same four stages that ANY professional goes through with his or her clients whether we're talking about a doctor or a lawyer or a stock broker).

HOWEVER, there is a major difference between me and the average mortgage professional, and the difference is in the way I EXECUTE the four stages and in the TIME SPENT executing them.

Let me show you what I mean.

Let me show you the % of time a typical mortgage professional (i.e. one who uses traditional old school techniques) spends engaged in each of these stages, and compare that with the amount of time I (and most mortgage professionals who use my ideas and marketing systems) spend on each stage:

FINDING Prospects....... Typical mortgage professional 85% / My Time 10%

CONVERTING Prospects......Typical mortgage professional 10% / My Time 10% to Clients

SERVICING Clients so.........Typical mortgage professional 5% / My Time 40% they get what they want

LEVERAGING their............... Typical mortgage professional 0% / My Time 40% satisfaction into future referral business

You see, the typical MORTGAGE PROFESSIONAL spends most of his or her time fishing in a vast ocean for a few little fish. There are many terms for what they spend their days doing: cold calling, grunt prospecting, loving rejection, hard selling. None of it is rewarding, either emotionally or financially.

As many of you will know (as I certainly know from my own personal experience), spending 85% of your working hours facing constant rejection in the process of trying to find someone to help is demoralizing, frustrating, nauseating, exhausting. And it's the reason the majority of MORTGAGE PROFESSIONALS fail at this business - drop out before they have a chance to see how this business can work.

You see, most mortgage professionals position themselves as salespeople (NOT professionals) who spend most of their working hours on the lowest paying parts of the job.

The activities of FINDING and CONVERTING prospects don't pay a cent. In fact, these are the investment stages of the customer life-cycle. You invest your time trying to FIND clients (endless hours on the phone or knocking cold doors), and you invest more time trying to CONVERT them (meeting with prospects to try to convince them to use your services.)

You only start to make money when your SERVICE results in a refi or purchase: i.e. you earn one commission. The most profitable part of the transaction is when you are able to successfully LEVERAGE this one commission into many more.

So how can you turn the tables on this process (the way I have done), so instead of spending your time being rejected by hundreds of prospects in order to convince one to take a chance on you, you can spend your time on the more emotionally and financially rewarding activities of SERVICE and REFERRAL?

Well, let's take a look at these four stages again in the context of the systems I've developed which allow me such financial, physical and emotional freedom.

FINDING Prospects

When the typical mortgage professional sets out to find prospects to work with, he or she will engage in the archaic and demoralizing techniques of Grunt Prospecting - In other words…Cold Calling, Soliciting Realtors, Working Internet Leads,. They'll waste money on Image Advertising (which has no customer benefits), passing out cards at chamber meetings, and waste their weekends and evenings waiting for realtors to call. In desperation, some will even hand out fridge magnets and pumpkin seeds and "press the flesh" at social gatherings (barf), etc.

IN CONTRAST, I run DIRECT RESPONSE LEAD GENERATORS (i.e. Tear-Sheet Mailers, Classified Ads, Editorial-Style Ads, USP Ads, Unique Signage, Flyers, Postcards, etc.) Which, compel hot/interested prospects to call. In fact, I have NOT made a single cold call in many years. ALL of the prospects and clients I deal with -- EVERY SINGLE ONE OF THEM -- called me first.

With these qualified prospects in my "pipeline", I then use Hotline Robots to automatically answer (toll free 800 message lines), SIFT & SORT my best prospects, so I only spend time on business that will wind up making me money.

CONVERTING Prospects to Clients

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The typical mortgage professional pleads for business with self-serving, vague, boastful claims that have absolutely no benefit to their prospects: "Please pick me because I really want your business and I'll work really hard"; "I'm Number One!"; "We're the biggest"; "I have lots of designations".

IN CONTRAST, I have an automatic FOLLOW UP System (a series of tested and proven letters, newsletters, live calls and voice broadcasts) which automatically compels my prospects to request an appointment with me (That's right . . . THEY CALL ME when they're ready to act.)

Once I meet with prospects, I know I am virtually GUARANTEED to get the business because my presentation is so jam-packed with unique and compelling client benefits (remember that I've met with literally thousands of prospects in my career, so I'm well aware of what their wants and needs are) that 90% of prospects will do business with me.

SERVICING Clients so they get what they want

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After spending 95% of their time on finding and trying to convert prospects, the typical mortgage professional races around exhausted in the few minutes left at the end of the day trying to be everything to everyone (and not succeeding very well at it).

IN CONTRAST, I am able to provide WOW SERVICE with my USPs (Unique Selling Propositions ... you'll learn more about these in future tips) -- marketing and customer service systems which set me apart from ALL other MORTGAGE PROFESSIONALS and get my
clients better results.

LEVERAGING client satisfaction into future business
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The typical mortgage professional is happy to simply get this one transaction and looks no further than banking the much needed commission check. Their unwitting strategy is "Burn 'em and Churn "em" and after the relief and elation wears off, they start the process ALL over again (prospecting for the next one.) There is NO leverage here.

IN CONTRAST, the superior results and excellent customer care my system provides to clients leads automatically to valuable client testimonials & REFERRALS which automatically build future business.

When you look at it this way, it's clear that the old traditional strategies leave a lot to chance. You may close some loans this way, but you NEVER WIN long term with this strategy.

With the ideas and strategies you will learn (from my Mortgage system), you will see that every single step is systemized. Once you complete Step 1, you move to Step 2 and then 3. Step 4 will always follow Step 3, Step 5 will always follow Step 4, and so on,
and so on, and so on. The order never varies, and once you have these systems up and running in your mortgage business, less of yourdirect involvement is required.

Instead, your mortgage business will continue to build exponentially while you spend less and less time making it happen, leaving you with more time in your life, more money in your pocket, and, most importantly, you'll have more fun doing it. (This is NOT B.S. This is REAL.)

The quickest and most efficient way for you to get all my ideas at once so you can start seeing changes in your mortgage business right away is to visit my site at: http://www.ReedH.com and read over my special report.

If you want proof that my ideas and systems will work for you, you can hear first hand from other mortgage professionals who are using my system to carve out their own success by visiting http://www.reedh.com//testimonialgray.htm or by listening to http://www.reedh.com/testimonials/ReedsAudioTestimonial.wma

Until next time, I wish you success with your Mortgage
business.

Best regards,

Reed Hoisington
Over 50,000 LOANS CLOSED IN MY CAREER!
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