How do you generate leads

[kandue]

I am new to the business; I have been doing it for less than two months. I have few loans in my pipeline that came mostly from friends of friends/family, but I'm wondering how you guys get most of your leads? and how did you get your name out when you first started? Thanks.

[OregonLO]

That is exactly how I got leads/loans when I first started. You really have to throw a lot of money into advertising for it to pay off. I get 95% of my business from referrals. When you close a loan send a thank you card, 30 days later send another card saying "I can't believe its been 30 days already, let me know if you need anything at all."

Then a 6 month card, then a 1 year card. I mail the hud statement to my clients on the 2nd of January to remind them of what they can write off on their taxes.

You really want to keep in touch with them. They will be your biggest referral source. You might buy some leads to help you, be careful and ask around and find out who has had good luck with what companies. Don't just buy any leads. Most leads will cost between $45-$100 per lead if they are good leads.

Good luck!

[ckoback]

there are many ways to generate leads on your own that do not cost a lot of money. what i do at closings is i get an acordian folder from an office store for feew dollars. i then label different sec`tions, Title, appraisal, Loan information, HUD. on the front of the file i have a large sticker with all my information on it. after closing i have all hte forms put into the file in the correct location with a Color copy of the appraisal inside. when they go to refinance or have any questions about their loan it will all be right there organized with my name right there in their face. how can they forget me? i have organized them with all the forms they will ever need about their home. also add extra locations in this file for insurance, and taxes. your best loan is a referral. keep your name in front of them and they will call you with any questions they may have.

Good luck, and if i can ever help send me an email and i will be more than happy to assist if i can.

[kandue]

Thanks for replying. Great ideas!! Thank you so much for sharing. Just curios, have any of you guys done a seminar or a home expo?

I went to a seminar last week that was organized by FNBA and few partners. The speaker was awesome, He spent little time selling his products but he took his time telling brokers/bankers how to generate business. He also touched on doing your own seminar, which had me thinking of a friend who runs a banquet hall. Now we are planning on doing a home expo for the newlyweds. The idea is on educating them rather than “here take my business card”. The banquet hall will have a rep and a wedding planner, I also got an account rep. from Genworth to join in and hopefully I can find a realtor too, some free food, free takeaways. Any ideas on what else can be done?

[OregonLO]

They are a great way to get more prospects. You can have them fill out cards if they would like to routinely get information from you...etc.

I haven't done any but down the road I will certainly start doing them to expand my business. Right now I'm focusing my attention on other areas. Once I get to the point where I can bring on an assistant to help me manage my data base I'll plan to do them on a quarterly basis to add to my prospects.

[shayne54]

I use call capture / zero down signs placed with listings and fsbos. They generate a lot of calls. You have to dig through a lot of crappy leads to get to any good ones. I got so sick of all the turn downs i actually started a credit repair company to make some extra $$ and to turn those bad leads into good ones a few months down the road!!

[Matthew-HTDI]

Some people find success in joining a local networking group. I'm sure there are a ton in your area. Or, there are some brokers like shayne54 who just up and start a credit repair company, which in my opinion is a good way to generate future business.

[Estreetloans]

How about when you have leads and want to sell them?
Any ideas?

[windycitymtgmktg]

I use direct mail for my leads. 350 pieces of mail gets me 6-8 applications, which turns into 2-3 closed loans. Been doing the same thing for the last 3 years and it works like a charm no matter if rates are up or down or if lenders are closing their doors.

[dawnstar]

Thanks for the info!

[princess275]

Launch your own website and market it well and you will never have to rely on anyone else. note the words "marketed well"

[Raymond B]

There were some really great ideas mentioned in the above and they all can work for you over time. The problem is that referrals will run out eventually no matter how many loans you do and pass your card onto. If you think about the time we are in as well that is now more than ever....

In my experience the solution is to be a little more pro active. I didn't see anyone mentioning of cold calling in the above methods. Does anyone on this board think that cold calling still works?

Pulling a targeted list of homeowners and calling them to offer benefit and saving analysis will generate you more consistent business than any other form of marketing. I know this because i set up call centers for Brokers and i have a call center myself with 24 TMs. It flat out works!

If you need help with that I can show you how to generate the best in house tele marketed leads in your own home or office. Even if you don't want to be the one calling you can really make serious money with a good telemarketer, some good scripts, and list to call

Raymond B

[power broker]

I am going to give you a website to look at.You can expect a wide variety and diversity of money making Internet mortgage lead opportunities. The fact is, if you can't make money with our Internet leads, you shouldn't be in the mortgage loan business. Good Luck!

[no1mtgpro]

There Are Many Ways To To Generate Prospects. You Are New You Need To Learn How To Communicate With Homeowners And Learn The Lingo And Terminalogy. You Have Get Your Hands Dirty In The Begining To Make Sure You Make It As A Loan Officer. I Sugest You Start Cold Calling And The Leads You Create Are The Best Leads. Please Visit My Website Www Becomeatoplo Com. This Will Help You Get Started With Some Phone Scripts For Free. I Have Much More To Address With The Site As I Have Just Launched The Site This Past Monday. You Will Gain Leverage So Access The Vaults As They Become Availbale.

[gunther.arneson]

Using the Credit repair business for future leads for loans is genius. I think in general many leads require the nose to the grindstone, squeeze blood out of the stone mentality to be honest!

[berniecmps]

[quote=princess275;1502]Launch your own website and market it well and you will never have to rely on anyone else. note the words "marketed well"


princess,
you have one of the best suggestions here. In todays real estate world 80% of all borrowers are shopping on-line for exactly what they want.
If you business is not online your in trouble.

[randywood]

Hi
I don’t have so much idea regarding this subject. Just I suggest you to take steps accordingly.

[Leadz]

Launch your own website and market it well and you will never have to rely on anyone else. note the words "marketed well"


Launching your website and MARKETING IT WELL is correct.

the internet has hot and ready prospect looking for your services but how you approach them will cause you to either get the click to close the sale or the back button.

the first step to having a proper website is defining what your core message is...

And stating it clearly for your visitors to see.

why should they buy from you and not your competition?
what is unique about your product that is of benefit to them.

of course you have to also strategically close, so your call to action should be there on the page.

getting prospect to take a specific action requires skill as well.

why should I do what you want me to do?
please think about it carefully when adding it or else you won't get anyone do anything.

once you have a well designed page with your Pre-selling proposition, then you promote the site.

again there are different ways of doing this

I can go on but I have written an article on this before so,

copy and paste the link below to read the article

10 steps to long term lead generation

lead-generation-tactics.com/lead-generation-techniques.html

I hope this helps

good luck

[mannu]

Really, very nice info, thanks for sharing,,