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Elmira Nancy
Joined: 13 Nov 2009
Posts: 28
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 Posted: Sat Nov 28, 2009 5:14 am Post subject: How do I get leads when starting in the mortgage business? |
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| I"m new to the mortgage business and just have completed my training to be a loan officer. Now I'm stuck wondering the best way to get my first leads. Most of the marketing I have found so far is all about pumping past clients for referrals. What should I do? I would be grateful for any input.
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EricJ
Joined: 09 Jan 2009
Posts: 321
Location: New Jersey
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| Posted: Sun Nov 29, 2009 9:09 pm Post subject: |
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Nancy
If you are truly in the mortgage business, then I would start with networking with everyone you know in life._________________ Get low rates Free Rate Quote
dreamhomefinancing (dot) com
Interested in having a great home business with no investment? e-mail me at Eric@DreamHomeFinancing.com |
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cezzz
Joined: 01 Dec 2009
Posts: 9
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| Posted: Tue Dec 01, 2009 9:08 am Post subject: |
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| I agree networking is one of the best way in starting a business, especially in mortgage business
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mobilehomelender
Joined: 01 Dec 2009
Posts: 3
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| Posted: Tue Dec 01, 2009 7:17 pm Post subject: |
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| 1. Make a list of all your friends, family and anybody that you can contact. Best is to call them and tell them about your new post and ask them what they need, then follow it up with an email. You must talk to people on the phone or face to face. If you rely only on the internet you'll starve. That does not mean that the internet and emails are useless on the contrary it can be of great help but only if you use it as a tool in addition to live communication.
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mobilehomelender
Joined: 01 Dec 2009
Posts: 3
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| Posted: Tue Dec 01, 2009 7:24 pm Post subject: |
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| 2. It is not an easy market. Be prepared to handle situations. Don’t be surprise that many of your friends already know someone close who arranges loans ( it can be a brother sister or someone very close to them). Don’t worry about it. If you communicate honest they will give you the business. Be prepare to struggle, don’t give up. It may take some time but you can make it if you persist. |
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Csolorzano
Joined: 07 Jan 2010
Posts: 3
Location: Morristown, TN
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| Posted: Thu Jan 07, 2010 4:21 am Post subject: |
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There are so many ways to get new business just look around...
Best of Luck, |
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JPowell
Joined: 20 Jan 2010
Posts: 103
Location: PA
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| Posted: Sun Jan 24, 2010 4:33 am Post subject: |
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Try networking and social networking sites as well. Starting a website might be a good idea also. You can do so with minimal costs and if you use the proper format you can quickly start getting traffic from google.
You can also try utilizing Craigslist and other sites like that.
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johncollins
Joined: 26 Jan 2010
Posts: 7
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| Posted: Wed Jan 27, 2010 8:44 pm Post subject: |
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| You got to do networking both offline and online. |
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JPowell
Joined: 20 Jan 2010
Posts: 103
Location: PA
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| Posted: Fri Jan 29, 2010 8:06 pm Post subject: |
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| johncollins wrote: |
| You got to do networking both offline and online. |
That's definitely true, the more you network the more leads you will generate.
You can even try putting up flyers on message boards around apartment complexes and things to try and get some interest from them. I'm not sure what the conversion would be in that case though since a lot of people in apartments just plain can't afford houses.
On the flip side though, lots of people rent until they can buy, so you might get a few bites.
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savana
Joined: 22 Dec 2010
Posts: 15
Location: United States
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| Posted: Wed Dec 22, 2010 11:12 am Post subject: |
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| Mortgage business is what people are really looking into and they are looking forward to gain some advantages in loans and different mortgage plans.
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rahnjoseph
Joined: 06 Jan 2011
Posts: 5
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| Posted: Thu Jan 06, 2011 6:20 am Post subject: |
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| This business is all about patience as you know very well but if you think to boost up your business in less time then it would be difficult and referals only generates calls not the conversion of deals so meet new peoples and try to impress them.
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paydayloan
Joined: 06 Jan 2011
Posts: 9
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| Posted: Mon Jan 10, 2011 6:55 am Post subject: |
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Hi,
I think first you need to promote your business locally. So for that you need to local classifieds ads posting, banner ads, social media optimization. You can do TV ads, news papers, or you can consult with Real Estate companies also for that.
Thanks
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laseen
Joined: 20 Apr 2011
Posts: 3
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| Posted: Thu Apr 21, 2011 8:58 am Post subject: |
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| If your approach is to pump your clients for referrals, I think you may be in the wrong industry. Mortgage brokering is partly sales and partly relationship management with both builders (lot and construction-to-permanent loans) and consumers (pick any home mortgage product). Training to be a loan officer isn’t enough in certain states, you need at the very least a real estate license. Hopefully you have that because in California you wouldn’t even be able to sell a loan.
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kenl314
Joined: 21 Oct 2009
Posts: 4
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| Posted: Sun May 08, 2011 11:49 pm Post subject: leads |
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It is tough, and an on-going issue for 90% of the loan officers out there. The top 5%- 10% of mortgage officers always do well enough and they have numerous clients that will be repeat clients, etc. The majority of LO's out there do not have this luxury.
How do you get people to call or email YOU instead of the 100's of other LO's in your area? That's tough.
People like to do business with people they know- so that is a start; network.
BNI isn't bad for that, and there are other professional groups that can be helpful and don't cost a lot of money.
Don't be afraid to work phone leads and make the cold calls needed. Its not fun, but it can be helpful.
Good luck,
Ken |
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