Top Ten Tips
 
  Master the Art of
the Follow-up!

Let’s face it, 2004 will be a year that you will come up against your competition in a way that you have not seen in over 3 years! Most experts are projecting a drop of over 60% in loan origination volume yet a drop of only 30-40% in loan officers and companies. Something has to give. And I take the view that I can not control what the industry does nor what my competitors do, I can only control what I can do. If there is one glaring opportunity, one area where even the largest lender in your marketplace falls short, one area that Realtors complain about the most-it is in following-up. Our industry is pathetic at following up with leads and therein lies an awesome opportunity. Leads are precious, they are valuable. All leads need to be followed up with up to 5 contacts! If you pre-qualify someone-they should get a follow-up mailed or e-mailed to them followed a few days later by a follow-up phone call. Then a mailout, then a phone call until you have touched base with them 5 times. Why 5? Because the Law of 5 in Sales says that 80% of all business happens after the 5th contact. 80%! So if you convert 20% of your leads now and you just do this one thing–you can quadruple your income! Our Top Producer training DVDs teach you the system we use (see page 20) but you can come up with your own. The key is to alternate your phone call with something of value whether it be a report on homes in the area or a letter from you. Your competition rarely even calls back 1 time, let alone out to 5. This one thing will eliminate your competition! It’s hot!
 
   
   
   
 
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Humble Beginnings
Might As Well Fish

After graduating from Florida State University in 1989, I began a short and trying career in restaurant management. Although I liked the business, the upside potential was weak.

In 1991, after a failed business attempt in multi-level marketing, I found myself $50,000 in debt and had my car repossessed and my home foreclosed on. It got so bad, I actually had to sleep on my best friend’s couch in his dinky 800 sq. foot apartment. That was only until I could afford to pay rent to a complete stranger and live in his garage. Humility was starting to take on a whole new meaning to me. I felt like I was failing at life and I was beginning to search for answers.

Why was this happening to me? Where did I go wrong? I had drive, a good work ethic, people skills, but nothing seemed to work. By accident, I came across the mortgage business in 1992 and my life has been forever changed. Starting with a nationwide lender, I became the top producer within 3 months. One year later, I was promoted to manager and given the challenge of training others. Being humbled by my past, I set out to learn from others with the goal of creating the best training plan possible. This was the key which unlocked my potential. During a 15-month period I went to every major seminar I could to learn from the giants like Greg Frost, Brian Tracy and Joe Stumpf, to name a few. Additionally, I studied the systems from some of the biggest producers in the history of the mortgage industry. After several months of study, reflection and testing these ideas on my own, I began writing the training plan. I knew the key for me would be to model after the most successful marketing systems and closing techniques and to weave them into one simple method that I could teach and our brokers could use.
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