The Mortgage Cicerone

Great Thoughts To Ponder (7/3/2008)

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"Customers don't make up stories about your business. It is you who creates them - the customer simply retells them. How the story is told and what the content is, is up to you." -- Jeffrey Gitomer

"The twin killers of success are impatience and greed."  --  Jim Rohn

"There is more treasure in books than in all the pirate's loot on Treasure Island... and best of all; you can enjoy these riches every day of your life." -- Walt Disney

"Read something positive every night and listen to something helpful every morning." -- Tom Hopkins

"Within you right now is the power to do things you never dreamed possible. This power becomes available to you just as soon as you can change your beliefs." -- Dr. Maxwell Maltz

"Striving for perfection is the greatest stopper there is...It's your excuse to yourself for not doing anything. Instead, strive for excellence, doing your best." -- Sir Laurence Olivier

"Telling others is the key to changing your wishes into dreams." -- Chris Widener

"The greater the danger for most of us lies not in setting our aim too high and falling short; but in setting our aim too low, and achieving our mark." -- Michelangelo Buonarroti

"Some people plant in the spring and leave in the summer. If you've signed up for a season, see it through. You don't have to stay forever, but at least stay until you see it through."  --  Jim Rohn

"How different our lives are when we really know what is deeply important to us, and keeping that picture in mind, we manage ourselves each day to be and to do what really matters most."  --  Stephen Covey

"Decide upon your major definite purpose in life and then organize all your activities around it." -- Brian Tracy

"All successful people are people of purpose. They hold fast to an idea, a project, a plan and will not let it go; they cherish it, brood upon it, tend to develop it; and when assailed by difficulties, they refuse to be beguiled into surrender; indeed, the intensity of the purpose increases with the growing magnitude of the obstacles encountered." --  James Allen

Greed, Fraud and Ignorance

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A Guide for Mortgage Professionals
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A few months ago, Richard Bitner mailed The Mortgage Cicerone his recently finished book, Confessions of a Subprime Lender - An Insider's Tale of Greed, Fraud and Ignorance." Truthfully, I thought it was going to be another pulp-sensationalized Housing Bubble book...boy was I wrong!

The further I got into the book, the more I was struck with Richard's thorough understanding of the subprime mortgage industry and his excellent explanation of how the overly simplistic/optimistic financial models and presumptions of both lenders and investment bankers brought about the current market environment we are now experiencing.

While Confessions of a Subprime Lender - An Insider's Tale of Greed, Fraud and Ignorance." is only 195 pages, Bitner will provide you an in-depth and behind the scenes view of what impacted the real estate and mortgage markets.

Bottom line, this book is well written and a “must read” for those people who really want to understand what is currently happening to the mortgage market and its effect on the national economy. In my humble opinion, if you don't read this book, you are not serious about understanding the industry and market in which you are currently employed.

Why Metaphors Are Such Powerful Sales Tools

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A Guide for Mortgage Professionals
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What makes the use of metaphors such a powerful communication tool?

In my humble opinion, it's because they simply drive home a point with a short, memorable, and emotional punch that information and logic alone do not have.

I have repeatably witnessed the use of metaphors by some of the top superstar Realtors and mortgage professionals (Mike Mueller is a master)as a teaching tool, or to convey difficult concepts to their clients.

The flood of information coming at our clients daily is increasing, not decreasing.  More information is not the answer.  In this environment, we need new tools and strategies to get our messages heard and remembered.  Metaphors are those tools: they are colorful, memorable shortcuts to understanding.  This post will show you how to use them strategically to get the results you want.

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Passing on Valuable Information - A Call to Action

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Fellow Cicerone Bill Rice is fast becoming one of my favorite reads when it comes to effective marketing advice. His blog, Better Closer - Improving Your Sales and Marketing is a definite must read for anyone involved in mortgage sales and marketing (Hint: we all are).

On 6/26/08, Bill made a masterful post titled 5 Ways Listening Can Grow Your Business. In it, he provided advice on how to pass on valuable advice to your clients/prospects, while also getting them to take action.

Here's an excerpt:

"Passing on Valuable Information

You telling a customer to pay attention to [add your industry here] is one thing, and often shrills of self-serving. In contrast, a short simple clip from the Web, a though provoking website link, a forwarded industry email summarizing where you want a customer to focus often inspires action.

The two key points you don’t want to miss in passing on valuable information, even when it is from someone else: add a call to action and ask for the deal.

So often I see people forward an email or website article and maybe they editorialize, but they fail to try to make a sale. It can be as simple as:

This economy is scary. Can you believe mortgage rates have dropped again? If you have any questions about this article from Forbes.com give me a call at 734.782.1177. Take a look at your mortgage statement and see if this affects you–It has a lot of my clients.

Four quick sentences that drive them to read the article, call you with questions, and just in case they miss the hint you tell them to double check their own self-interests. Remember this is ad copy!"

Words of wisdom Bill.

Referral Marketing - Action is Power

Bill Cates, a top Referral Generating Coach teaches financial professionals how to build a successful business with referral marketing. In this segment, Bill talks about the importance of acting on your knowledge - "Knowledge isn't power - Acting on knowledge is."

For more info contact Bill at info@referralcoach.com or visit his website at http://www.referralcoach.com

The Referral Marketing Conversation Made Easy

Bill Cates takes the stage with an audience member to demonstrate the most effective way to generate referrals during client meetings.

Referral Marketing - Are You Referrable?

Being "referrable" is the key to starting a successful referral marketing program. Learn a key to measuring your referrability and some steps you can take NOW to increase your referrals in the future.

Have You Mailed Your Fourth of July Cards?

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If you haven't, get off your arse and do it now, right away!

When I initially tell mortgage and real estate professionals this, they usually look at me sideways, scratch their head and politely ask, why in the world would or should I send out 4th of July Day cards?

The answer...because you want to be different (in a good way)!

The real problem is 95% of the mortgage originators are BORING and COPY what everyone else is doing!

You want people to remember you! You want to stand-out from the rest of the crowd! You want to present your message at a time and place when people can and will take notice. To do that, you need to think differently than most other people in business.

Heck, I even suggest sending Arbor Day cards too!

Some facts to consider;

• The average family receives anywhere from 10 to 22 Christmas cards
• The average business receives 21 to 42 cards.

The plain and simple fact is, your card probably won't even make it to its rightfully esteemed place...the card display on the family mantle. With that in mind, if your card is competing with Uncle Frank and Grandma for attention and space, guess who's going to lose?

Think about it, how many Fourth of July Day cards did you receive last year? If you're anything like me, probably none, zilch, zero. And, this is what I'm talking about. Here's the perfect opportunity to make a statement and have people take notice of you and your business. Send Labor Day or Home Purchase Anniversary Day cards to your customers, prospects, and contacts instead of the same old traditional year ending Christmas/New Year card.

I even send out Valentine Day cards telling my clients I love and honor the fact they have entrusted the management of their mortgage to me.

Sometimes being different is a good thing.

Are You Ready for the Abundance?

Bill Cates discussed what you need to be ready to open your life to the abundance that awaits you! Don't miss this compelling interview of Bill on Maryland Public Television.

Referral Marketing - Planting Seeds

One simple phrase can improve your referral marketing almost immediately. Learn this and a few other techniques that will boost your referral program NOW!