Every year I push my originators to focus on making a real effort the last couple of weeks in November and into December. So many opportunities to generate transactions and find new relationships, that it seems almost too simple not to succeed. One of the things I really like to push is the “Black Friday Sale”. There are two versions, one that includes your Realtor® referral partners supplying a number of their listed properties and holding a special sale over the weekend, and the other just simply having the originators offer a video coupon discounting closing costs or providing a lender credit for people who go into contract and complete the loan application process by a specific date.
This year did not disappoint. Response to both strategies was pretty strong, and for those who have been doing this for a few years now, they have really begun to master the process. A few have even “extended” the sale to include the last possible date they can accept a transaction that will close this year. Please remember, if you work for a company that can still accept applications that will close before New Year’s, you have a distinct advantage over your competition and one that grows in importance, every day further into December you can go!
Pushing hard the last two weeks of November and the first two of December generates important distinctions between you and your competition. Understanding that there are people out in the market who still need to buy or sell a house, as well as your Realtor® referral partners that are just one or two transactions short of moving to that next tier on their commission schedule. You also have a unique opportunity to be in front of a select group of people who value the time left in the year and understand that it’s pretty tough to have a bad year if you ROCK the first quarter! That’s what pushing now does; it sets up your first quarter of next year!
Take the time and explore your schedule for December! How far can you go and still close loans this year? Have you shared this information with your pre-approvals and your referral partners? Not just your Realtor® referral partners either, your accountants and financial planners also have clients that would benefit from closing a deal this year!
A special shout out to my client Richard Veldman of Benchmark Mortgage in Michigan. Richard was weary of the Black Friday Sale Strategy at first and thought it might be a complete waste of time. However, since he has made a commitment to coaching and at least trying to incorporate a few selected strategies into his life, He made his video and shared it with his clients and referral partners. The response was swift and positive. He had Realtors® asking him if they could share his message on social media, and he received 3 new transactions in the first two and a half days! I love it when people just TRY!
Questions or comments: Mike@IMTcoaching.com