I just returned from a few trainings in Texas. It was nice to start the spring training season with originators in the great state of Texas. As with all trainings, it’s about sharing solutions and connecting the dots to the desired result. I always start by asking a series of questions about what the specific group I am talking with that day is experiencing, and where they are facing challenges. This past week was no different, but some of the answers were.
So many people were concerned by the fact that mortgage rates were rising. They almost all had bought into the belief that higher rates meant less business. While the main stream media may have the general public buying into that nonsense, Steve Harney of KCM put out a great post about how that it simply isn’t so. In fact, Steve’s chart shows that the last six times rates have moved up 1% or more in a year, housing prices went UP from 2% to 13% during the same time frame.
This is really important information, and mortgage professionals should be connected to solid sources of information. Steve Harney and The KCM Crew, do a great job. You should all be connected and following on Facebook®!
The other questions all seemed to center around generating new opportunities without buying leads. I shared that I never have my clients buy leads; I teach them how to generate opportunities from their day to day activities.
Start with the basics:
- Collect 9s and 10s from everyone!
- Connect with the listing agent on all of your deals.
- Contact the seller on all of your purchase contracts.
- Talk to the neighbors around each open house.
- Engage the seller on each open house.
- Connect with all your Realtors® by phone not email.
- Talk to your database in person twice a year!
I know what you are thinking, most of these aren’t going to work, or that you already do a few of these things, but you need to do all of these things every time! You see, it isn’t about the deals you don’t get, it’s about the ones you do! Are you going to get all the sellers on your purchase contracts? Of course not; but you can get 3% on average. Now that doesn’t sound like a lot, but do the math. One thirty second phone call and stamp costs you fifty cents! What is the return in your market?
The neighbors around the open house and the seller of that home can result in as much as a 20% hit rate and possible listing opportunities for your agent. Is it worth spending the time and energy to do the work? You do the math!
We don’t build a real database and the people that do, often don’t engage personally with their closed clients. Why not? Statistically, one out of every 8 people is moving this year. How many of those will you get? How many of those in your database know someone moving? Will you get that referral? Not if you don’t ask!
You get 100% of what you don’t ask for! If you aren’t asking, you aren’t getting! You don’t need more leads; you need to convert the opportunities that are presented to you every day!
For strategies and solutions, visit www.IMTcoaching.com and take a look. If you are interested, we are running a Spring Special to get you ACCESS for just $19.99 per month! Just use the coupon code SPRING2018 at checkout and do something today that improves your tomorrow!
Questions or comments: Mike@IMTcoaching.com