If you were looking for a mortgage, where would you start?

I am a loan officer with a mortgage company. The hardest thing about my job is getting in contact with interested customers. I get leads online, I despise calling people repeatedly. It's O.K. if you have a repeat answer, I'm looking for a survey, not creativity.

If you were looking for a mortgage, where would you start?
Put on a suit and go around to real estate offices. You want to focus on high producing offices in areas where you want to work. Hand out cards and shake hands with every real estate agent you can at each office. Sometimes they'll run scenarios by you just be you happen to be there when they get off the phone with their client. Be friendly and quote good rates. Now is not the time to run up your fee sheet or make a killing on yield spread - it's the time to make relationships. You can't be in the right place at the right time if you're sitting around waiting for the phone to ring. Trust me - this really works. Good luck!
Reply:At my local bank, less sharks there...
Reply:You are doing what most young loan officers do. I would be afraid of cold calling in these days because of the Do Not Call List. You should check the disclosures on the leads you get from your lead company. Does your company have a Do Not Call program in place? If not you should ask. Idon't want to alarm you, but on the other hand I don't want you to get into trouble because you are not aware.





You have selected a wonderful career field. You are pretty much on your own to earn as much as you want and be as successful as you can.





I agree with some of the others here,get out of the office, start a marketing plan that will make you successful. Sitting in the office with the other loan officers will not accomplish that for you.





You have to come up with a marketing plan that will get you clients without depending on others. So let's take a look at how to do this.





#1 You can advertise in the local paper stating that you do loans.





#2 You can mass mail to the city in which you reside or want to do business in.





#3 You can buy leads from a lead generating company, these leads normally cost upward from $25.00, however you must purchase in bulk of 100 or more at one time or over time.





#4 You may do cold calling, but then there is that nasty Do Not Call List.





#5 You can select an area of your city or place you want to do business in and concentrate your efforts in that area.





You have a wonderful job, get off your duff and make your own list and get potential clients. Get into the neighborhood, meet the people that need loans, want to purchase homes, have friends and neighbors that want to do the same. The only reason they don't recommend you is because they don't know you do loans. If they knew you or had information about you they might recommend you.





You should select an area of your city that you wish to work. Walk the area for about 3-4 weeks placing fliers on the doors of your potential clients. Talk to anyone you find outside.Get their name and email address you are already standing in front of their house so write the address down.





On your fliers you want to tell your potential clients who you are, what it is you do,and what you want to do for your potential clients. You might also give a little bio of yourself, such as schools attended, marital status, number of children and number of years you have been in this business. Make a project out of it, if you have children have them help you put out the fliers. Don't forget to stop by McDonalds as a reward or if they are older stop at KFC.





These names and email addresses as well as any additonal information you are able to obtain should be placed in our data base you will be starting.





Go to the commercial stores in this area and leave your fliers. You will find flyer holders at Staples or Office Depot. Don't forget to stop by and refill your holders. Get to know the owner by name, so he/she will recognize you when they see you coming in the door. Also make a habit of buying something even if it is for your children or spouse when you get home.





After you have walked this neighborhood for 3-4 weeks, make a newsletter indicating again what programs you have available. You may use articles from the internet, newspapers, magazines and other media outlets as long as you give the author credit. Mail your newsletter out monthly.





Remember the commercial people you have gotten to know you might ask if they want to advertise in your newsletter, since it will be going to the surrounding neighborhood. You might charge them about $50.00 per ad and they have to sign up for 3 or 6 months at one time.





Now you will need a professional team to assist you. I suggest you surround yourself with an attorney, a mortgage broker or real estate agent, a home owners insurance agent, a notary public, a title rep, an appraiser and others in a profession you think might help you be successful. You may add or take away from the list as you see fit.





Now these professionals should pass out your business card to people they meet that need your services. You should have a business card of their to give to people you come in contact with that need their services. If a few are not giving your referals, change that person with someone that will.





You will need to get the names of the people in your farm to mail your newsletter to. Contact your title rep, this person will be able to get all the names of the people in your area. Add this list to the data base you have started. This is a free service offered by your title company.





Contact the post office about a bulk mailing stamp.They will know what you are speaking of. Get a few lessons on what and how to bundle your newsletters for this type mailing. This is a method of mass mailing and saving lots of money.





If you are a mortgage broker or loan consultant don't forget to help the FSBO in your area. Give them support by assisting them with open houses, assisting in setting up an escrow closing agent, a title company and other services they will need.





You should be available at all open houses to pre-approve those that are looking at the house and are not pre-approved. Get compts for them to assist in coming to a good sales price, get your appraiser to assist in this also.





Now after about 2-4 weeks you should be getting telephone calls.





Join the local Chamber Of Commerce, meet the membership, Go to a church in your area, ask the minister if you can give free seminars to the members that might want to purchase a home and be pre-approved. Take an hour off go to the spa and work out, pass out your business card out to those that you meet and speak with there.





Find the new neighbors in your area. You know the vacant houses as well as those that are sold, give them a small gift and welcome package like change of address from the post office, Home Depot and Lowes offer free coupons so put some of them in your welcome package. Put any other thing you think will be of use to someone moving into the area.





A lot of people will tell you this does not work. They are right as long as you don't do it it will never work. You have to give this method about a year before you get over 4 deals per month.





I hope this has been of some use to you, good luck.





"FIGHT ON"
Reply:Screw mass mailings and spamming, and going door-to-door! I have the BEST Lead Generation there is. And, it's a secret! Not, really, our company uses call capture systems and lots of great advertising. We work with hundreds of Realtors, and generate limitless leads! The great thing is you get nothing but interested buyers and sellers. Seriously, I'm not joking when I say, it just plain works. But, they are soooooo expensive and hard to maintain. I've been in on it since the ground level, and I've learned that you have to have someone who knows what they're doing to build the system. Good luck everyone! Hey, if you're in Southern California, come work for us!
Reply:i network with friends and family, offer referral fees to them. I routinely drop in on realtor offices, that's hit or miss. I have been at this a while and used to do the lead calling thing, i feel your pain. thing is, you stick with it a while, it gets easier and easier to get loans due to relationship building and referrals, previous customers, etc.....