93% of LOs have it backwards…
The rest of them are top-producers.
You’ll see why in a sec, but first…
Let’s briefly recap the last two posts. In the first post I covered the fastest way to boost your app rate to 5-17%.
I talked about secret weapon #1: how to scoop up buyer leads – before they get poached by real estate agents or other lenders.
In yesterday’s post I revealed the simple question to ask if you want a never-ending list of homebuyers. Then I let you in on my best-kept secret strategy. (not so secret anymore)
After that, I showed you how my LOs arrive at work with fresh leads already scheduled and ready to be closed.
This is all extremely valuable info that some LOs actually pay top dollar for…
… But…
All the info in the world is useless…without this one key ingredient.
That key ingredient is…
Hint: If you’ve read any of my posts before, you know what I’m about to say.
Value.
Because if you’re not out there working your face off for your customers, you got nothing.
Sure, you got some d-bags out there whose only concern is their bottom line. They’ll do alright for a while… until their number is up.
No, they don’t physically die. But people eventually stop doing business with them. Then one day, they’re out of the game.
Here’s what I know: Getting leads is a colossal waste of time. Because when you work on giving more value, homebuyers will seek you out.
It doesn’t always happen overnight. But the more value you bring to your prospects eventually reaches in a critical mass.
People refer their friends and family. Those friends and family refer their friends and family… and so on.
Then you have RE agents calling your phone and builders seeking you out.
This secret ingredient is why top producing LOs never have to chase after leads.
Let’s dig even deeper.
Top producers are always in demand… even if their fees are higher.
Here’s why…
Pick any type of currency: cash, gold, silver, bitcoin, whatever it is.
Now ask yourself this: Why is it worth anything?
You can’t eat gold. Unless you’re assembling microchips, it has no utility function. You can’t even touch a bitcoin.
Yet, as you’re reading this, someone on this planet is happily spending a small fortune on gold. One bitcoin is equal to $7,047.50, as of October 2018.
Even in the worst economy, gold is still in high demand and sells for top dollar. Just like top producing LOs are still in high demand after 2008, despite the housing crisis.
The reason is nothing more than assigned value.
The only value any currency has, is the value you assign to it.
But what if you are the currency? What if you gave people more value than the guys down the street?
People are naturally afraid of the home loan process because they’ve heard horror stories. They’ve heard it’s complicated, it’s tons of paperwork, it’s stressful.
What if you made their experience easy and stress-free?
Think buyers won’t spend a small fortune on you?
Think they won’t refer you to their friends who are looking to buy a house soon?
Ok, but what if the customer splits?
What if you nurture the customer and they jump ship last second – because they got tricked by Quicken’s sleazy phone jockey?
My answer to this:
It’s extremely unlikely to happen to you IF you follow the strategies in the last post. It hasn’t happened to my LOs since they started working with me.
Because each step in my strategy is designed around giving value. You know why Quicken steals clients like a fox from the chicken coop?
Because they lure them in with value: promises of an easy loan process. Cheap rates? That’s just the cherry on top.
If you’re following the steps laid out in yesterday’s post, you’re building trust with your prospects. It would be a burden for them to jump ship because they’d have to start all over and build another relationship.
What you just learned today is held secret from the majority of LOs.
Now that you’re one of the few who know this…
Will you flail around with the 93% of backward LOs?
Or will you be a top producer?