Q. I'm intrigued by two products out there that I've been thinking about purchasing:
1. Loantoolbox.com -- Tim Braheem (nationally ranked loan person; seems pretty sharp...)
2. Brian Sacks Training Prog.-- Basically, how to make money focusing on people who have been discharged from Ch.7 bankruptcy over a year and a half ago(who got there due to exigent circumstances -- not due to being a deadbeat...) He recommends becoming "the" expert in a niche.
Before shelling out a lot of money (at least for me), I'd like your opinion on the above products. I understand if you can't express your full opinion on this particular forum.
I hear that the subprime market can be attractive because people with less than stellar credit in general are more appreciative if you get them a loan. And your commission can be higher.
Q. I've run into a problem implementing your course, although overall it has been a BIG help. My problem is efficiently mailing and faxing out the added value information pieces to customers, prospects, and colleagues on a daily basis. Once you get a few leads and colleagues, the logistics of manually mailing all these pieces quickly becomes VERY problematic. It appears that you at Nexus have admin staff to automate most of the LOs mailing and faxes, and all they have to do is call to follow up. What can I do if my company does not hire people to do this? The consistent mailers/faxes are the core part of the marketing program and much suffers if I cannot solve this problem. ACT software alone, while helpful in many ways, does not appear to automate this process. Am I wrong? What can I do? Tell me your thoughts...
Q. Hi Brian,
It’s funny how your newsletters always relate to what is currently happening in my business. Today you wrote about Integrity. My company’s slogan is “Integrity First” and I actually believe in this stuff. I pride myself on doing the right thing when no one is looking.
This brings me to my question. Recently one of my employees questioned my Integrity and it is weighing on me greatly. She did not attack me with this news she simple brought it to my attention and implied that it is not in line with “Integrity First”…I somewhat disagree and would like your input.
On more than one occasion I will tell the client what they want to hear vs. what actually is happening. For example, in the recent past (during the hurricane) we (I) completely forgot to send a client’s file to the lender. It went an entire week unnoticed. She called looking for an update and I blamed the delay completely on the hurricane and took no blame for myself. The loan closed 2 days late…she was thrilled and has referred me tons of business.
Second, I received a speeding ticket and had my wife do the online course to circumvent possible points. Yea, yea, yea I know you’re laughing hysterically. We (my wife and I) justified it by printing the material and she reviewed it with me. I assume this falls in line with wrong but doesn’t hurt anyone? For the record, it was my first speeding ticket in the last five years and I was busted with a group of folks…yes I know I’m trying to justify a wrong!
Third, stated income loans…need I say more? I ask the client how much they make and explain to them what a 4506 is. I probe no more even though if I ask enough questions I could probably kill the deal.
Finally, sales in general. For example, do we really believe the Ivory Soap lady only uses Ivory? I mean lets be serious…the model on that commercial is told exactly what to say. Further, what she is saying was coordinated, reviewed and re-reviewed by a team of marketers. I do the same thing selling my mortgages. To gain the client's respect and trust I may appear to be interested in their Beanie Baby collection…yet I could careless. In fact, I may go as far as finding an article on Beanie Babies and send it to them. I call this nice.
Yes, there are times when I straight lie. For example, two weeks ago my title company forgot to send the package to my borrower’s ex-husband for signature. I explained to my borrower that we wanted her to review the documents first before we sent them…however, truth is my title company dropped the ball and caught the fumble. Borrower never knew what was going on and in return was crying at the closing that I was so nice to her during her divorce.
Ok, with this info…am I a “Fast Eddie” with a God Complex? Do you think I need to work on being more honest? I’m asking you this because I’m going to have to confront my employee on this matter. If I’m correct then she may have to go. If I’m wrong then I need to change the way I do business. Obviously, I think I’ve done nothing wrong. Again, I pride myself on doing the right thing all the time.
Q. At my office we are only just now getting to the point of purchasing contact mgmt software for everyone to use. We are probably going to get ACT for the base system. But I wanted your opinion on the best add-on to make ACT mortgage specific. The big ones seem to be Mortgage Quest or Loantoolbox. Which one do you add to ACT to make it mortgage specific?
Q. Hi Brian,
It was nice talking with you today. I am going to pursue the avenue of hiring more loan officers. Since we already have the DVD's, we are already set there. How do you advertise for loan officers and do you interview them first before offering the class? Would it be possible to get a copy of the written test that you give them?
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