MOTIVATION!

Off the topic of Direct Marketing I have been thinking of alternate ways for LOs to make money while you grind this thing out. You don’t even have to change much about what you do EXCEPT WORK A LITTLE HARDER for your potential borrowers and TURN DOWNS!!!

Think about this for a second……We are all taking more applications now than we have in the last couple years but for most it’s the qualifying the prospects that is the issue. I talk to so many Loan Officers and Brokers alike that just throw that stuff away…….WHY WOULD YOU DO THAT?

Here is what I would be doing if I was a full time LO….

Do which ever marketing I like best and then really really WORK THE LEADS! Work the potential Refi to the bone until there is absolutely no deal there. On all the turn down leads we have all got to start helping these people. There are other ways that may require any Loan Officer to get out and network to help the homeowners in other financial ways….

I would try building a relationship with a credit repair company….I know most of them pay you a commission for the repair job and then they send you the borrower back for the loan after things are fixed. You not only go the extra mile for your client but you also make a little money on the side form the CR company.

Another example would be to learn loan modification. 4 out of 5 applications taken DO NOT qualify for a loan, so in my mind you should try and modify their loan with their current lender and make a small 1000-1500 commission for HELPING your client. Again this was a turn down before and it could be turned into revenue and maybe even a future deal and more than likely a referral or two for another modification. (you would not believe how much home owners talk about not being able to refinance with each other) If you go the extra mile on either of these two ways or even debt settlement or something like that you will be helping home owners the same way, FINANCIALLY, and still be making money as well as building your client base for future.

Sorry to go off on a rant but i see so many people complain about turn downs but really they should be trying to figure out how to try and help them out. There is a lot of money to be made rehabbing or modifying loans as well as credit repair and settlement. START DIVERSIFYING IF YOU WANT TO LIVE AS WELL AS YOU MIGHT HAVE IN YEARS PAST IN THE INDUSTRY!

I’m in hopes this message gets at least one person motivated again, all the negativity does get overwhelming after a while and there truely is a ton of money to still me made in financial services. Lets get on it!