Archive for December, 2013

Are You Ignoring the Needs of a Majority of Today’s Homebuyers?

Posted by Joel pate in Uncategorized. Tagged:

A recent national survey finds that a majority of homebuyers want to include brand-new homes in their search.  But at the same time, only a small percentage of real estate professionals have the training, market knowledge and builder relationships to professionally support their clients in the new-homes arena.  As a result, the majority of brokers and agents are professionally meeting the needs of only 46 percent of today’s homebuyers.

Are you overlooking one of the most powerful keys to maximizing your real estate success?

Can you imagine Lowe’s or Home Depot advertising this message: “We’re here with everything you need to meet 46 percent of your home improvement needs.”  They might even add, “For the other 56 percent of your home improvement needs, you’re on your own.  Good luck.”

It’s not only hard to imagine, but this would be a business model clearly destined for failure.  Yet, as crazy as that might sound, this is not too far off from the message many brokers and agents are sending prospective homebuyers.  I’m not suggesting anyone is doing this intentionally, but consider the following facts to better understand this reality:

A national survey of active home shoppers across 25 major metropolitan areas conducted by BHI Inc., a consortium of 32 of America’s largest home builders, found:

19 percent are determined to buy a brand new home and will not even consider resales.

35 percent want to explore both new and used homes in their search.

46 percent are focused on searching the inventory of resale homes only.

I’m sure you don’t find these numbers surprising.  In fact, in our extensive travels we find most brokers and agents feel that a full 60-70 percent or more of home shoppers in their markets want to include new homes in their search.  Yet, the same brokers and associates acknowledge that less than 5 percent of all real estate professionals have undergone the specialized training, gathered the market research, and have established the builder relationships necessary to support the needs of this majority of buyers interested in new homes!  Armed with this knowledge, I can’t imagine any real estate professional not recognizing that it’s essential to be prepared to fully meet the needs of today’s homebuyers — or a broker consciously ignoring the needs of a majority of prospective customers.

Not coincidentally, some of real estate’s most successful leaders do recognize the importance of new-homes expertise for real estate success.

“New-home business has always been important for resale — there’s clearly a relationship between the two.  Our ability to help buyers across both areas attracts more buyers overall,” explains RE/MAX Chairman and Co-founder Dave Liniger.  “Builders are beginning to prosper again, so agents absolutely need to make sure they are prepared and arm themselves with education in new home sales.”

“I’m very enthusiastic about new homes and urge everyone in real estate to prepare for the boom in new-home sales.”  Ron Peltier, chairman and CEO of HomeServices of America, talks about today’s new-homes opportunities in contrast to the recent REO market.  “If a sales associate is not knowledgeable in the new-homes arena, they are going to miss out on an even greater opportunity.  We all saw how REOs became a dominant part of the business for several years.  What’s important to recognize is that new homes are a much bigger opportunity than this — even bigger than it was 10 years ago.  There is tremendous pent-up demand, growing household formation and interest rates that still remain historically low.  These factors should continue to play out for many years.  Together, this adds up to a massive, long-term opportunity.”

Helen Hanna Casey, president of Howard Hanna Real Estate, has grown up in a brokerage always active in new homes.  “We expect to see growth in both new-home buyer and builder representation.  With today’s tight inventory and growing buyer demand, we need to focus on new homes to satisfy the needs of the market.  At the same time, builders are afraid to put up spec homes, which means agents need to apply new sales skills and strategies in this changing market.”

As you consider these opportunities, I highly encourage you to position yourself to fully support the needs of all prospective buyers by adding real new-homes expertise to your mix of professional services.  Get the proper training, and you’ll be empowered to take your business to higher levels of professionalism and success in the coming year.

 

By: Dennis Walsh, www.sellnewhomes.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

21 Ways to Use Brochures

Posted by Joel pate in Uncategorized. Tagged:

Savvy mortgage professionals are always on the lookout for new ways to build their business, especially at this time of year.  Top producers have demonstrated time and again that presenting yourself as the “expert” in your field and educating clients and the community are great ways to garner more business and additional referrals.

Providing and distributing brochures is an easy (not to mention economical) way to get your name on some educational content.  Here are 21 simple ways you can use them and boost your business in 2014:

1. Place brochures in the offices of all your professional referral sources (CPAs, Realtors, insurance agents, financial planners, etc.).

2. Segment your database and determine which brochure is applicable to each of your clients.  Mail them a brochure relating to their current and possible future situations.

3. Offer brochures as a free gift online, through email or postcards to get people to “raise their hand” and show interest.  For example, send a postcard to a list of current renters offering a free brochure about “Understanding Mortgages.”

4. Use them as free hand-outs during an educational presentation about that respective topic.

5. Include them in your welcome package for new clients.

6. Buy brochure stands and place them in your office and in the lobby, too.

7. Include them in a thank-you package for returning clients.

8. Place them in local businesses (dry cleaners, restaurants, hair salons etc.).

9. Email all your clients announcing that you have a brand new educational brochure that they may be interested in, and ask them to respond if they would like you to send them one — or more –for their friends who may also be interested.

10. Ask local schools to place them in the break room for teachers to take.

11. Bring them to networking events, tradeshows, bridal shows, and seminars on related topics, and offer them as a free hand-out at your table.

12. Purchase a mailing list of prospect new clients and offer them an educational brochure.  For example, purchase a list of people currently renting and send them a brochure about why they should buy a home or the importance of renter’s insurance.

13. Immediately after speaking with a new client, send them a greeting card thanking them for their time, and include a brochure about the topic that is most applicable to their situation.

14. Display them at referral partner’s events — like open houses, or special events for their customers.

15. Go to a local bookstore and find books that relate to the topic(s) of your brochure; then insert your brochure into the books!

16. Use a mini home financing application brochure as the first step in the process for new applicants.

17. Ask your referral partners to include your brochures in the welcome packets to their new clients.

18. Send a greeting card (just to say hello) to all your clients; enclose a brochure and ask them to pass it along to someone who could use it.

19. Ask local fire stations, police stations and medical facilities to place them in break rooms for their employees to take.  And contact Human Resources Managers in your area to see if they’d be willing to make your brochures available to their employees.

20. Order a supply of brochures with your and your professional partners’ information on it to begin branding yourselves as the team to count on.

21. Sometimes it is hard to break the news that a client must clean up and fix their house to get it sold.  Give your Realtor referral partners a “Creating Curb Appeal” brochure which they can then use as the first step in encouraging their clients to get their home in tip-top shape for a quicker sale.

Now, how many more ways can you think of to use this simple yet effective method to promote your mortgage business?

Step one: Create your brochure and have it ready to go right after the holidays.

 

By: Gwen Buehler, www.topproducerstrategies.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

Young Millennials Face Difficulties Buying Homes

Posted by Joel pate in Uncategorized. Tagged:

They may be smart and they may be well educated, but many young Americans are struggling to buy a home; this is something that could put a damper on the housing market for many years to come and affect those in the housing industry.

It’s all too easy to miss a payment on a student loan, but doing so can lead to less-than-perfect credit scores, making it less likely and far more expensive to get a mortgage.

In addition any debt that young Americans have, such as student loans, is taken into account when calculating just how big a mortgage they can take out.  Not surprisingly, more young graduates are choosing to move home to live with their parents.  A recent article in CNN.com (http://money.cnn.com/2013/10/31/real_estate/millennial-homebuying/index.html) quotes the recent Pew survey that found some 36% of young adults were choosing to do just that.  This is definitely something that will save money on living expenses, of course, but unfortunately it doesn’t give them a chance to build up any sort of credit history of their own, and that’s essential to getting a mortgage.

When all these factors are combined, the result is fewer 18 to 32-year-olds are forming households.  The Pew survey found just 34.3% of this age group was able to form households in March 2013 compared to 36.1% in 2007.

Some students are leaving college literally hundreds of thousands of dollars in debt, and while they may have landed good jobs they are finding that mortgage lenders often don’t even want to process their loan applications.  These graduates are now looking toward postponing the process and buying a home in their mid-30s, at the earliest.

Other applicants looking to purchase a home are facing difficulties of a different nature, especially if they’re in the habit of making cash deposits into their checking account as opposed to receiving regular checks from their employer.  This is something that may affect those who receive cash tips as part of their job.

An article in AOL.com (http://realestate.aol.com/blog/2013/11/18/mortgage-application-cash-income-deposit/) explains that lenders are required to only regard money from reliable sources as being proof of income, which can therefore be used for the mortgage transaction.  This means potential borrowers could be asked to explain any deposits that haven’t been documented, and having to do so can slow down the purchase process.

Experts are recommending that borrowers avoid making deposits that need any explanation for a minimum of two months before the planned closing date; after this time has elapsed the money won’t be questioned as being “seasoned.”  It’s perfectly okay for someone who is self-employed and who receives cash as part of his or her employment to include these deposits as part of their income, provided they can show the money has been properly documented on their tax return.

All in all, tough times ahead for Millennials when it comes to housing.

 

By: Allison Halliday, www.realtybiznews.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

4 Big Predictions that Retirees Often Get Wrong

Posted by Joel pate in Uncategorized. Tagged:

Planning for retirement invariably involves some assumptions.  After all, no one can really predict the future.  But a blind faith in how later life will ultimately play out can lead to bigger problems than most people ever realize.

Of course, planning for the future is a good, prudent thing to do: We pick a retirement date; we draft a budget; we anticipate how our savings might perform; we envision – and might even experiment with prior to retirement – how we’ll spend our days after leaving the office.

But as Tom Lauricella points out in a recent article in The Wall Street Journal, reality has a funny way of intruding on plans for retirement.  Among the things that people think they know about later life but frequently get wrong are:

“R” Day: At some point, workers pinpoint – ideally, with a good deal of thought – a specific age (and eventually a month or day) when they will retire.  For many people today, that age has been pushed beyond 65 or 66 because of the still-fragile economy and under-sized nest eggs.

But just because you plan to work to, say, age 68, doesn’t mean you can or will.  Any number of issues – poor health, layoffs, age discrimination – could force you into retirement long before your planned date.  Indeed, some 70% of retirees actually stop working before they turn 65.

“There’s this idea that it’s a silver bullet to work to age 70, and you will be fine,” says Jack VanDerhei, research director at the Employee Benefit Research Institute in Washington.  “But that’s not the case for many.”

Free time: If you do find yourself retired earlier than anticipated, your assumptions about how you will spend your days might be misplaced.

Nancy Strojny, chair of the Portland, Maine, chapter of SCORE, which provides mentors for small-business owners, urges retirees to think outside the box when it comes to how they stay engaged.  She gives the example of a financial adviser who, as a hobby, has been spending weekends in a basement workshop.

“You could volunteer yourself in a shop class at a high school, or – if you like a little extra beer money – get a job at Home Depot or Ace Hardware.”

Expensive expenses: The rule of thumb is that retirees will need to replace about 70% to 80% of their pre-retirement income in later life.  But some people will need more than their pre-retirement income.  Among the biggest reasons: spending money on a “bucket list” of travel or other leisure activities.

“People retire and think, ‘By golly I deserve this’…and the bucket list becomes a priority,” says Matthew Dernis, a partner at Associated Investor Services in Fort Lauderdale, Fla.  A better idea: budgeting for both discretionary and nondiscretionary spending – and being realistic with both.  Many retirees are active and traveling well into their 80s.

Medicare: It’s among the most common – and most troublesome – assumptions in retirement planning: the belief that Medicare protects everyone age 65-plus from all big medical bills.  But “Medicare isn’t designed to cover everything,” says EBRI’s Mr. VanDerhei.

A common expense, for example, that can eat into savings: dental work.  Bills from your dentist can easily run into the thousands of dollars – and Medicare won’t cover it.

 

By: Glenn Ruffenach, www.marketwatch.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

Getting People to Buy from You

Posted by Joel pate in Uncategorized. Tagged:

What do people really want when they first meet you or reach out to you?  What makes them choose your service over someone else’s?  How do you prepare for getting people to buy from you?  (Or, in the language I teach, to “own” the benefits of your services.)

Heaven knows the real estate market is jam-packed with incredible service.  The specific answers to those questions can only come from satisfied consumers and your team members.  However, I can address the general answers to help you get started with acquiring a large volume of satisfied clients in the first place and secondly to continue growing your business.

We all want the same things when doing business with people.  We want quality products and good service at a low investment.  That’s the bottom line.  Is that what you provide?  If so, shout it from the rooftops!

However, few companies can provide all three.  That being the case, you will need to learn how to address which of the three you don’t provide.  For example, if you provide quality and service, but not at the lowest investment, your products and service better be exceptional.

Everyone understands the value of using great services.  There is a perceived value for excellent service.  People actually don’t mind spending a little more money for something if they feel the service is great.

So, learn how to ooze quality and service.  This begins with the first impression you make, whether it’s in person, over the telephone or on your web site.  Everything should always be first class.  You want to represent your product well in order to work toward establishing credibility.  And, you want to represent your company well in order to gain trust.

Dress appropriately for the type of service you provide and the clientele you deal with.  Then, have everyone who is on your team do the same.  Develop your business “voice.”  How you say what you say is critically important.  People just won’t make buying decisions if they’re not comfortable or if they can’t get their questions answered quickly and easily.

The key to service is to truly understand the meaning of it, which is “to serve.”  You must humble yourself as a servant in order to make others feel important.  When they feel important, they will listen to you as you explain your offering or demonstrate your product and explain your business.  When you make them feel important, they’ll want to do business with you.

How do you make others feel important?  With eye contact.  With a welcoming smile.  By learning and using their names.  By getting to know them and asking about their children, their travels, and anything else that’s important to them.

If you meet potential clients or recruits over the telephone, be sure to smile and use a warm and friendly tone of voice.  Believe it or not, people can tell if you’re smiling, distracted, bored or unhappy, whether they can see your face or not.  They can tell simply by the tone of your voice.  I used to keep a small mirror by the telephone on my desk.  I trained myself to glance into it as I reached to make or take a call.  If I was smiling, I was putting my best self forward.  It may sound silly, but it worked for me and has worked for many of my students over the years.

Introduce yourself and let them know “I’m here for you.”  Good old-fashioned courtesy goes a long way.  When you first meet people, if they introduce themselves using their first and last names, address them by their last names.  When you use first names too soon or get too friendly too soon by using their first names many will instinctively pull back.  It can put people off, which is the last thing you ever want to do.  Develop the habit of calling people by their surnames initially, but you can also say, “It’s a pleasure meeting you Mr. & Mrs. Miller.  May I have your permission to call you Robert and Margaret?”  Their friends may call them “Bob” and “Peggy.”  If they feel comfortable with you, they’ll suggest you do the same.  It’s a very simple strategy but can truly help you get off on the right foot with new people.  Of course, if they only give you their first names, use them but not so often that they wonder if you are memory-challenged.

Rather than jumping right in to tell people about your product or your service, ask what made them contact you.  What was it that piqued their interest?  Try asking, “What was it that prompted your call today?”  You want to get inside their heads to find out what they really want, what they really need before you try to sell them anything.

Once you know the general direction of their needs, you can then ask them additional questions about their likes and dislikes to help narrow their focus from everything you have to offer to the one particular product, service or benefit that will best suit their needs.  If the benefits of the services themselves are the most appealing aspect of your business, start there.

Your underlying goal with each and every contact is to help your prospects find what it is they’re seeking.  And helping people make decisions that are truly good for them is the foundation of true success in all types of business.

Use the above thoughts as you finish up your annual business plan, and may 2014 be your best year ever!

 

By: Tom Hopkins, www.tomhopkins.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

In Competitive Market, Mortgage Lenders Brush up on Service

Posted by Joel pate in Uncategorized. Tagged:

If you borrowed money from a mortgage lender last year, odds are you’re fairly happy with the experience.

Overall customer satisfaction is at a seven-year high, according to the latest J.D. Power and Associates’ annual ranking of mortgage lenders.  Lenders scored an average of 771 out of 1,000, or about a C+.

Every year, J.D. Power asks customers of the 25 largest lenders in the country to rate their experience with four parts of the mortgage origination process, including the application/approval, the customer’s loan representative (also known as the loan officer), the closing experience and the contract.

In this year’s survey, for the fourth year in a row, Quicken Loans came out on top, earning 841 points out of the 1,000.  Quicken is the only lender that passed the 800 mark, though BB&T came close with 798, followed by U.S. Bank (783), PNC Mortgage (778) and Chase (773).

The results were skewed slightly toward refinances, which made up a larger volume of response.  Customers who refinanced tended to be happier with their lender than those completing their first home purchase probably because those refinancing are more familiar and comfortable with the process, said Craig Martin, director of the financial services practice at J.D. Power and Associates.

Because first-time homebuyers aren’t as clear about their loan options as repeat home buyer or refinancing customers, they typically need more old-fashioned hand-holding to have a good experience.

“What that first-time home buyer requires of the lender is to focus on over-communicating with those individuals, because you have to assume they aren’t going to fully understand” the process, Martin said.  ”Folks may be shy about asking questions and they’re going to agree to things in the end that they do not fully understand.”

Mortgage financing has become somewhat commoditized, and many lenders are offering similar loan programs at similar interest rates.  Because it’s hard for lenders to differentiate themselves with interest rates so low, they’re trying to focus on improving the customer’s experience to gain new business.

“One of the things we noticed is that problem prevention is an opportunity,” Martin said.  ”The most common problems are things like customers not being called back in a timely manner or customers not being able to get a hold of their loan representative.”

Not surprisingly, good communication was a key factor for all the lenders that scored well because the highest ranked lenders are proactively communicative, Martin said, meaning they make calls to follow up with customers quickly, provide them with information as the process continues and are readily available.

All this is really good news not only for loan officers but for consumers, who should expect a better customer experience with top-ranked mortgage lenders, particularly because the market is so competitive right now.  With refinance volume dropping, lenders have to replace that business with borrowers who are buying new homes rather than refinancing existing properties.

“Borrowers should feel empowered to ask questions, especially about the process” of getting a loan, Martin said.

He recommends that borrowers ask who they will be working with and how they will be updated on the process.  Just asking those questions will “give you a good sense of what your experience will be like,” he added.

“You have to feel comfortable that they will give you good information on a regular basis,” Martin said.  “It’s really about reducing your stress and feeling comfortable in the process.”

Loan officers can learn much and improve their business opportunities by paying careful attention to surveys like these.

 

By: Ilyce Glink and Samuel J. Tamkin, www.chicagotribune,com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

Want to Grow? Learn to Let Go

Posted by Joel pate in Leads, Sales. Tagged: , , , , , , ,

Let me guess, you’d like to make more money in 2014.  Right?  It seems every originator, no matter how successful, is always looking to close more loans and earn more income.

Raising your results from where you are now to where you would like to be (or should be at this stage in your career) is a goal that can be readily achieved.  More sales contacts, more personal marketing, more follow-up and more quality referral partners will generate more leads, more loans and more money for you every month.  But before you start to move forward in that direction, think about what you may need to leave behind.

1. Your loan files.  The first thing you may need to let go of is your love of your loan files.  It is extremely difficult, if not entirely impossible, to originate a large volume of loans every month if you spend the majority of your day working on your loans in process.

Too many originators will never grow their businesses because they spend far too much time babysitting their pipeline or coddling their borrowers during the process.  Their inability to “let go” and trust others to gather documents, clear conditions and manage the specifics of the loan transactions will forever hold them back.

The primary job of a loan originator is to originate loans, not process them.  Control freaks and paper geeks rarely make big money in this business.  Take a clean loan application, set the file up properly, hand it off to your support team, and go meet another customer.

2. Poor quality deals.  If the loan doesn’t close, you don’t get paid.  Added to that piece of profound wisdom, you also don’t get another client for your database, his return business or his referrals.

Working on poor quality deals and “science project” loans will forever inhibit your ability to grow your volume, your income and your career.  Learn to say a polite and professional “no, thank you” to bad deals and quirky situations that have a low probability of funding, and do it as soon in the process as you can.

Your time is money, and to make more money you must spend more of your time working on loans that are likely to close.

3. High-maintenance agents.  Some referral partners (real estate agents, etc.) will accelerate your growth with a steady stream of leads.  They trust you and your expertise, and in doing so, they recommend you to their clients, make the handoff, and step out of the way to allow you to do your job.

Other agents will drive you completely crazy with their endless questions and almost daily requests for status updates on their clients.  If the volume and quality of the business they refer you justifies the time and frustration you experience, so be it.

But if along with their neediness comes little or no real and regular business, it’s time to break free from these restraining relationships.  Go find better people to call your partners.

4. Old habits.  They say that old habits die hard.  While this is often true, it is equally true that your old habits may be impeding your career growth.

Let’s say, for example, you have been originating an average of four to five loans a month and you want to up that to nine or 10 loans a month.  Doubling your results will never happen by accident or if you continue to operate the way you do today.  “I’ll just work smarter,” is a well-intended strategy, but one that simply won’t make any difference.

You may need to change your work routine, the hours you put in every day, your prequalification or pre-approval process, even the way you take your loan applications.  There’s an old saying: If you always do what you’ve always done, you will always get what you’ve always got.  Be open and willing to change how you originate and run your business from start to finish.  Look to those producing more volume than you and mimic their customs and practices.  That’s what you need to be doing, too.

5. Your company.  Perhaps you work for a company that provides all the tools and support you need for success.  Congratulations!

But, if you now work for an outfit that: Does not have the loan products you need to be competitive in your marketplace; places excessive demands on their originators; will not staff the back of the shop to help you deliver smooth and timely closings to meet your contract dates; does not believe in providing its sales force with ongoing training, education and technology tools; and/or is priced out of the market, the thing you may need to let go of is your employer.  Especially if your employer is not willing to make the necessary changes.

It’s a bold move, but I’ve seen many originators over the years exit their current company, move to a new one that provides the environment to succeed, and seen their results soar.  But always make sure the problem is the company, not you, before you make that fateful decision.

6. Your ego.  It may be a big pill to swallow, but you may come to realize the biggest barrier to your growth in this business is you.

Some originators — particularly the most seasoned ones — think they are “too good” to attend a sales seminar or stop by an open house on the weekend.  They feel they shouldn’t have to prospect for customers, ask Realtors for appointments, make phone calls to their database, join local networking groups or ask their borrowers for referrals.  (If this critical comment hits too close to home for you, take notice.)

Understand that this way of thinking will forever hold you back from expanding your knowledge and skills, from meeting more people, finding more loan opportunities, and cashing bigger paychecks.  Perhaps it’s time to get over your own ego and put into practice the daily disciplines of $50 million and $100 million producers.  If they are not “too good” to do these things, neither are you.

Raising your results and increasing your loan production and income starts with leaving behind the things that have been holding you back.  Are you ready to let go?

 

By: Douglas Smith, www.nationalmortgagenews.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

The Art of Story Telling in Sales

Posted by Joel pate in Leads, Sales, Uncategorized. Tagged: , , , ,

Most of us can recall when, as children, we were captivated by a well-spun story.  Sitting on our uncle’s lap, or gathered before a parent with our siblings or cousins, we were entertained, amused, awed — and maybe even inspired by it.  It burned into our minds and our souls images, sounds, and feelings that, in some cases, have stayed with us for a lifetime.  And often there was, unbeknownst to us at the time, an important life-lesson embedded in that story.

So, what does all this have to do with sales?  Everything.

Think about it.  If you were in the audience for another sales person’s sales presentation, which kind would you rather listen to: one in which the presenter simply recited a list of features and benefits, facts and statistics, or one that included a stimulating, engaging, riveting, or inspiring story about how he or she helped another customer solve a problem similar to the one with which you had been wrestling, or achieved an outcome you’re looking to achieve?  Which one would move you, and which would bore you?  Which one would be memorable, and which would be forgettable?

You get the idea.

It all boils down to what it is you’re trying to accomplish with your sales presentation.  Are you trying to simply educate and inform?  Well, that’s certainly part of it, of course.  And the facts and figures you present will usually accomplish that part of your objective.

But that’s not enough.  Educating and informing may be a necessary part of your presentation, but it’s not sufficient for a sales presentation.  A sales presentation is not a mere lecture; its goal is much more ambitious: to move a typically undecided, often skeptical, sometimes confrontational prospect in the direction you want — towards the purchase of your product of service.  When you think of it that way, this all becomes really critical, doesn’t it?

The fact is that presentations that include stories are just more memorable.  They’re also more inspiring.  They’re highly motivational.  And, if told well, they’re also “actionable;” in other words, they get your prospects to do something — like sign up for what you have to offer them.

And isn’t that what you want?  Of course, it is.

So how can you use stories to make your sales presentation truly memorable?  There are two elements to consider when preparing and delivering a story: what your story is about, and how you tell it.

As indicated above, your story should vividly illustrate how you helped another customer solve a problem similar to the one with which your prospect has been wrestling.  So, you should have a handful of stories available for different prospect types or for each of your solutions.

As for how to tell them, good stories, like all good presentations, have a strong opening that sets up the story, the body — or “meat” — of the story, and a satisfying conclusion.

Begin (open) by naming the customer (be sure to get clearance beforehand from the customer to use their name), and what they do.  Then describe the situation.  What was their particular problem or challenge?  What were they trying to accomplish?

Then get into the heart of the story (body).  Take them through the highlights of the customer’s decision process — specifically, who else they had considered in addition to you and why they chose you.  This is your opportunity to create that strong emotional connection with your audience because, most likely, that’s exactly where they are in their evaluation process.  People find it comforting to know that they’re not the only ones who’ve faced a similar decision and found a satisfactory solution — namely, you!

Lastly (conclusion), what was the solution they bought and that you implemented, and what was the outcome for them?  Use figures, whenever possible, and weave in a direct customer quote or two if you can; make your story more tangible and significantly more compelling.

Keep in mind that, while this looks like a lot, the actual relaying of your story will likely take no more than 2-3 minutes.  If, in rehearsing it, it takes any longer, trim it down.  People like stories, but in business — unlike at the theater — time is precious.   Make your point, and move on.

Action Item:

Take a customer success and turn it into a 2-3 minute story, using the format described above.  Rehearse and practice your story on a colleague or significant other, or in an empty room with a tape recorder — whichever you’re comfortable with.  The key is to create and polish a compelling story you can embed into your presentation that will move your prospects towards closure.

Happy holidays, and good selling in 2014!

 

By: Craig James, www.salessolutions.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

Rising Rates, Health Care Lead Top 10 Issues Affecting Real Estate

Posted by Joel pate in Uncategorized. Tagged: , , , ,

Rising interest and capitalization rates top the list of issues that have future implications for real estate.  That’s according to an industry expert at the “Top 10 Issues Affecting Real Estate” session at the 2013 REALTORS® Conference and Expo.

Scott Muldavin, industry veteran and president of The Muldavin Company Inc., a consulting firm in San Rafael, Calif., that serves the real estate industry, shared his insights into top issues that could potentially impact homeowners, real estate markets and the industry in the coming years.

He said the top issue affecting real estate is that historically low interest rates have driven the economy and real estate markets in recent years, but as rates start to rise, it could raise capitalization rates, the ratio between the income produced by an asset and its cost, which could create anxiety about investing in real estate.

“Interest rates are going to rise significantly, so my advice is to be careful about your investments today and lock in those low rates if you can,” said Muldavin.

He said that healthcare is also an important issue that has implications for real estate.  As the population ages, there will be greater demand for senior housing, requiring a change in the configuration and size of available housing, and for greater medical care, resulting in an expansion in medical facilities.

Muldavin said there has been a capital market resurgence, which is good news for residential and commercial real estate.  In commercial markets, transaction volume is up, credit is available, underwriting has loosened and a full range of debt options is back.  For residential markets, underwriting remains tougher but rates are near historic lows and affordability remains high.

Future housing demand from echo boomers, the 80 million Americans born between 1982 and 1995, will also impact real estate markets, he said.  “We are the only developed country that has had an echo boom, and that’s a positive thing if the country can react and respond to it,” said Muldavin.

Echo boomers often prefer a more flexible and active urban lifestyle, they rely heavily on mass transit and are often willing to trade home size for location.  However, Muldavin said that the suburbs are fighting back with better mass transit, new bike paths and repurposed properties to attract more future buyers.

Climate change and more extreme weather patterns will also continue to have a strong impact on coastal homes and many other properties across the country.  Muldavin cited the impact of recent storms like Hurricanes Katrina and Sandy, and how property owners in these markets are now dealing with changes in code and zoning standards and paying significantly higher insurance premiums.

Like weather and geologic events, major global events can also impact real estate markets, such as acts of terrorism, war, global debt crisis and financial and economic downturns, he said.  “The risk of future events is high, and while it’s always hard to anticipate these risks, they need to be considered because their impact is often great,” said Muldavin.

Increased natural gas and oil production in the U.S., which has an impact on the economy and environment, is another issue with implications for real estate.  He said there’s been an increase in fracking and oil and natural gas production in recent years, and while this is creating greater employment opportunities and reducing U.S. dependence on foreign oil, it’s also contributing to climate change, environmental degradation and contamination.

Muldavin also cited globalization, foreign investment and the economies of other countries as variables that will continue to have a greater impact on the U.S. economy and real estate market.

Another issue is how technology will continue to impact office spaces.  Muldavin said many corporations are employing work-from-home policies and other mobility solutions that are allowing individuals to work when and where they want, significantly reducing office space requirements.

“Many people are replacing physical items with electronics and free or virtual products, such as e-books and smartphones enabled with cameras, GPS and flashlights.  This means businesses will continue to require less retail space, so I believe the trend in the future will be for fewer and smaller stores,” he said.

Muldavin said the impact of the Internet on bricks-and-mortar retail stores is also a growing issue.  He said retail demand is down across the country due to an increase in Internet sales, which are expected to rise from the current 6.5 percent to nearly 15 percent by 2020.

Real estate professionals will need to keep aware of such changes to insure their place in the markets they serve.

 

By: www.realestaterama.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com

The Invisible Threads of Community

Posted by Joel pate in Uncategorized. Tagged: , ,

There’s a food pantry in a town near mine that does tremendous work.  The people involved with the food pantry don’t just distribute baskets of food.  They also help people with their problems, acting as counselors and emotional supporters for people who are really struggling.

I’ve had the opportunity to help that food pantry in a few different ways.  I’ve helped them distribute holiday food baskets.  I was also involved with helping them secure a new home when their original location became unavailable.  We’ve also donated items to the pantry.

Those were minor steps, of course, but they pay great dividends.

A few days ago, I was having a conversation with another unrelated person in the community.  This person was talking about how his family felt really welcome because so many people had helped them out when they needed it.  One of the first people he mentioned was one of the two core people behind the food pantry.

I played a very, very minor role in the success of that food pantry, but I felt really good hearing this person’s story.  It was because of my small action – and the small actions and big actions of a lot of other people – that this family felt welcome and secure during their difficult time.

Truly, the invisible threads of community are everywhere.

Whenever I walk through the park near my house, I get to enjoy the clean sidewalks and nice gardens.  Some of it is done by parks and recreation staff, but quite a lot is done by volunteers.

Whenever I’m in a short-term bind, I have several different neighbors that I know well whom I can turn to.  I’ve stopped next door for emergency babysitting, batteries, a shovel, extension cords, advice, and many other things.  They’ve done the same to me, too.

I know that if I ever needed food or shelter or clothing for my family, I could find it in my community.

These things have tremendous value, but they don’t work unless you contribute, too.  If you just take these things for granted and don’t give yourself, they start to disappear. The quality slips and people feel discouraged.  When one neighbor shuts their door, others often follow suit.

The best way to create a positive community around you that gives you and your loved ones value is to give of yourself to the community.

Volunteer at the local food pantry or at the soup kitchen.  Volunteer with the parks and recreation department or with the local schools.  And, by all means, when a neighbor needs a hand, offer it.

Sure, it will eat up some time and energy, but it’s time and energy spent doing something positive without spending any money.

It rubs off, too.  When people see others giving, they’re more likely to give themselves.  Over time, the threads of community draw people in.

It is always up to you to make that choice, though.  It all starts with you.

So, help a neighbor.  Spend an hour or two volunteering.  It will feel good, you won’t spend any money, and everyone benefits.  Over time, others begin to notice the change, too.

The invisible threads of the community are stronger than you think.  But you can always make them stronger.  Why not make 2014 the year to do just that?

Happy Holidays!

 

By: Trent Hamm, www.thesimpledollar.com

 

 

About Scoreinc.com

Scoreinc.com, Inc., headquarter in Mayaguez Puerto Rico USA, with offices in Mobile Alabama, is a leading provider of services to the derogatory credit sector of the financial service industry through its Scoreway® Software Solution and credit report accuracy dispute services. The Scoreway® platform provides an end-to-end management solution that helps the companies that we serve manage the credit review and dispute process and to improve controls and profitability. Scoreinc.com services an ever growing list of mortgage company’s, banks, credit unions, Realtors®, builders and credit service organizations through its innovative technology and credit report accuracy service.

Contact Score for more information at 877-876-5921 or by visiting the following pages:
Credit Repair Merchant Service
Fair Debt Collection Practices-learn to earn from FDCPA
Credit Repair Business Training
Credit Repair Software
Credit Repair Solution
For more details please visit Scoreinc.com