Mortgage Marketing Tips: #49
Two Keys to Avoiding the Mortgage Business Ulcer.

1. Don't beat a dead horse.

This is a trap that many (especially those who are just eaking out a living) fall into. They have their "loan" that they are trying to do CPR on to keep it alive when it arrived D.O.A. (Dead on Arrival) in the first place.

They cling to this loan tenaciously and spend an incredible amount of time on it trying to make it happen because it is the only paycheck in sight. In most cases they are simply fooling themselves to think that it will ever amount to a paycheck.

In reality what they should be doing is spending their time creating more leads and appointments, not trying to figure out how to get a 100% LTV loan for a recently bankrupt person who just lost his job.

This leads quite naturally into the second tip...

2. Don't ever be afraid to lose a loan.

Too many mortgage professionals put up with much more "garbage" then they should. They put up with clients who ask the world, won't cooperate, complain all the time, are slow to respond with documentation and then blame everything on the mortgage professional when things go wrong.

I know I'm hitting a few exposed nerves with this one.  This not only reduces the amount of time you have available to work with cooperative clients but it takes a tremendous physical, emotional and spiritual toll as well.

What's my solution to this dillema? It's quite simple and even somewhat emotionally rewarding.

Just fire them!

Just because you took an application does not mean you have to constantly put up with garbage!

But what about the loss of income, you whine, I need the paycheck.

Well, first of all, you are fooling yourself to think that putting up with this situation is not actually costing you business because it is draining your time, your attitude and your energy.

Energy that could be used for creating 3 or 4 new loans where only one existed before. Trust me, when your tired and frustrated with putting up with pain-in-the-neck clients you are not putting your best foot forward with new prospects. Worse, you may not be putting your foot forward at all.

The cure to this ailment is to always have a full pipeline.  Then you won't hesitate at referring these "difficult" types to your competition.

If you don't have a full pipeline then you should be seriously looking into the Magnetic Mortgage Marketing System at: Mortgage Marketing System
http://www.highprofitmarketing.com/Kit.htm


Learn more at: Mortgage Marketing Tips




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