The Worst Loan officer in the World
I’ve created an imaginary situation for you to read. This guy is a loan officer/trainer, and this is a list of his preferred methods to market himself. Would you buy into his products/methods? (The answer will quickly become obvious)
He claims to have the solution for loan officers who want to get more business from real estate agents. Who doesn’t want that right? Take a look at his marketing strategies:
Problem: Don’t you hate when your well thought out value statement is shot down into burning flames by a real estate agent with no vision? “But can’t you see the brilliance in my carefully crafted sales message?” you ask in frustration.
To make matters worse the agent usually throws out some sort of smoke-screen objection without really listening to your pitch. Annoying isn’t it? Well fear no more! We have a solution!
Ultra-Awesome-Super-Duper Solution:
Next time you have one of those short-sighted agents on the phone, you can get your message heard loud and clear with this super secret strategy! Ever wondered why your message is not heard by your target agents? It’s because you’re talking far too slow!
That’s right, the next time you have a prospective heavy hitter on the phone I want you to start talking as fast as humanly possible! Giant, run on sentences are the order of the day here folks! The agent won’t know what hit ‘em!
I’m serious, once you hear the ringing stop, and a voice answer on the other line, I want you poised like a race horse at the starting line ready to jabber! Launch into your script at 3 times your normal speed and don’t stop for air. (If you do, they might be able to slip an objection in)
Before you know it, the agent on the other line is helpless to stop you as they listen to your carefully crafted message that is sure to land you an appointment. This particular strategy has other benefits as well. What used to take you 40 – 60 seconds to communicate is now slashed to a mere 8 – 10 seconds!
Think of all the time you’ll save on your prospecting! Plus, when you’re talking at this breakneck pace, chances are you won’t even hear the objection if the agent manages to slip one in. If you don’t hear it, it doesn’t count!
Mind Blowing Reality Altering Strategy #2:
Don’t you just hate it when you spend hard earned dollars on sending pens, notepads, mousepads, staplers, stress toys, coffe mugs, beer can coolers, pencil holders, and whig-whams to your realtor prospects without getting anything in return?
I know I do… I mean come on people. We spend good money on having our names and phone number branded onto these useful office items (Especially whig-whams… I don’t know how I’d get through the day without my whig-whams) and no one seems to care!
I get even more bent out of shape when I stop by their office to see that they’re using the items I spent money to send them, and yet they still haven’t called me to give me a loan! How ungrateful!
The days of pulling all your hair out in frustration are almost over though. The next big thing in office “brandables” is here! T-SHIRTS! That’s right faithful readers I said T-SHIRTS! Forget wasting money on those useless pens that no one cares about. How can your agents NOT think of you when they wake up in the morning with your sunny, smiling face ready to greet them plastered across their belly!
Some guy who was good at marketing once said that you should keep your name and face “in front of your prospects” as much as possible. Can this solution be any more relevant? Your face is on the front of the shirt! (And your phone number too if you pay us extra)
Think of all the exposure you’re going to get… Every time they look in the mirror they will see you, the super loan officer who needs their loans smiling back at them. (Imagine all the times you look In the mirror throughout the day: brushing teeth, brushing hair, washing face, etc.) I hope your processor is ready to work hard, as you’re sure to get a flood of referrals with this innovative new approach!
PS – “Please specify size and slogan. “The best way to start your day” will serve as default slogan should one not be included with your order
Limited Time “The Competition Is Going To Have Me Shut Down For Revealing This” Strategy
I have to be careful. The competition is probably listening in and is trying to get me shut down for revealing these secrets… I don’t have much time, so let’s hurry!
This is what I like to call my “Mailbox Overload” approach. You’ve stopped by the realtors offices to drop off your stuff before right? What do you see? Other peoples stuff of course! Well, one day I was out and about making my rounds at local realty shops, and I just plain got mad!
I got mad because I spent 48 bucks to fill up my tank to make these office visits. I got mad because I couldn’t believe other loan officers were arrogant enough to think they can butt in on my territory. I got mad because my mortgage was due, my cell phone shut off, and I needed money now…
But with these yahoo’s trying to clutter up the mailbox of my prescious realtor prospects; my message could be mistaken as “just another loan officer wanting a loan” and get tossed in the trash! Who wants that? “Not me” I said…
So here’s what I did. I went back to my office and made a commitment to beat these jokers at their own game! “You want to play hardball? Let’s play hardball!”
I logged into my computer and opened up Word. Typing furiously I created document after document after document. Mailers, rate sheets, feature sheets, recipes, comic strips and more were all armed, ready, locked, and loaded.
No longer would I have to worry about my message getting lost in the sea of “junk mail” these realtors are getting every single day! I was the loan officer who decided to yell loudest! Sure, the mailing schedule was rigorous.
But it was worth it! 5 pieces of mail every single day…per agent… And it wasn’t just sheets of paper I mailed either! On page 19 of your new marketing guide you’ll read about the time I sent out cookbooks to every agent in the city! Each page was stuffed with a business card so matter what culinary delight the realtor wanted to indulge in for the day, MY CARD was hiding within ready to strike!
(Be careful though. I received a few complaints about cards spilling all over the stove after my first mailout. After that “incident” I discovered the usefulness of clear tape)
When you’re ready to discover the secrets of how to cram an agents mailbox full of stuff each day, then you’re ready for “Mailbox Overload.” (Formerly known as “Project Cubby Stuff”)
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Ok guys. Now onto the serious part of today’s message. Yes, as hard to believe as it may be, there are serious messages hidden between the lines of this article. How would you describe the imaginary loan officer (and product pusher) above? Clueless? Mis-directed? I’m not sure if words exist to accurately describe this poor fellow.
But in all seriousness, loan officers all across the U.S. struggle to get business from real estate agents day after day and see very little in return for their efforts. While many attempt to place blame, or label their market as “too difficult” the reality of the situation is that most of these originators are simply not taking the time to truly understand who their target is, and what they really want. (The above being an extreme example of course, but the concepts still apply)
More rate sheets, promises to share leads, stories about how long your company has been in business, carbon copy phone scripts, etc. are not too high up on the “want list” I assure you. Any market that is heavily marketed to will have a knee-jerk reaction to blow the solicitor off.
It’s natural and we all do it. How would you respond to 5 telemarketers per day bugging you about a new cell phone plan? What if this went on for months, or even years? How would you respond to these calls? It would take one heck of a phone call to get your attention, and inspire you to listen to the offer right?
Of course. So we should expect a similar condition to exist within the real estate community since most loan officers all use the same offer, same approach, and same marketing tactics. The lesson of the day here? Put some thought into your approach.
How would you want to be approached if the situation were reversed? How can you be creative, while also respecting the time and space of your target prospects? How can you communicate value without wasting time making empty claims and promises? (Add substance to your message – value)
We’ll provide some examples in a later post. In the meantime, please stay away from T-shirts, fast talkers, and over-filled mailboxes!
CW- www.loanofficermarketinglab.com
