Mortgage Broker Marketing - Sell Problems, Not Solutions

Author: Jeffrey Nelson

You're in the relationship business and that changes your marketing strategy on how to attract Realtors® as clients.

Are your marketing messages to Realtors® guilty of these promises?

- To render great customer service... - To close loans on time... - To offer the best competitive rates... - To help them make more money... - To deliver referrals or free leads... - To co-market services... - To qualify all buyers through a diversity of programs...

Guess what...Realtors® have heard this before. So much so, that they've become immune to listening. Your message is competing with other similar messages and getting lost in the noise. If you can't cut through the noise and stand out from competitors than you're invisible.

To stand out, learn their language

You don't like hearing static during your favorite song played on the radio, why put real estate agents through that same pain. When you're engaged in conversation with agents talking about closing loans on time, returning calls promptly, keeping clients informed about their loan application that's like static beating on their eardrums.

Instead of speaking Swahili, you need to speak their language. If you listened to a professional conversation between two realtors, what would you hear? They'll talk about listings, sales, commissions, referrals, open houses, marketing, policies that affect them, etc. In other words, they'll talk about real estate, not about mortgages. Why? Because that's their business.

To stand out, understand their problems

Today, mortgages are a commodity, there's a mortgage guy on every corner. If an agent needs a loan officer, they can step outside their office door and have several choices within a city block.

But agents don't want a loan officer - they want someone who can help solve their problems. Reflect back for a moment on the conversation between two agents and you'll also hear them bicker about problems they can't solve.

""Builders are capping my commissions..."" ""There's not enough inventory..."" ""Sellers want me to reduce my commission rate..."" ""I'm getting contracts on properties the night before the open house..."" ""Investors are submitting ridiculous and embarrassing offers..."" ""There's twice as many realtors farming my area this year..."" ""My marketing isn't as effective as it used to be..."" ""My buyers dumped me for another realtor..."" ""I'm averaging only one sale a month..."" ""I have very little repeat or referral business."" ""I lost my listing to the competition..."" ""My open houses produce little traffic and few good leads...""

If you want to stand out, understand their problems and facilitate solutions that solve them.

To stand out, describe problems - not solutions

With a solution in hand, you're ready to market a powerful message that'll get heard - the problem. Agents are more likely to listen if your message describes a problem, instead of the solution.

Think about this - your message communicates competency. Competency shows you understand the problem. Your message communicates - caring - because many agents don't believe loan officers care about them. Finally, your message communicates - potential - which stirs an agent's curiosity to learn more about your solution.

Their curiosity is what will spark their level of interest forward. You realize with more opportunities for one-to-one interactions, the more familiarity and trust can develop. Two key ingredients to successfully attracting the relationships you want.

To stand out, get noticed through associated channels

Part of your marketing plan should include points of contact that your prospects can discover you. Of all the methods of communicating your messages, direct solicitation is always the toughest. To avoid this, make a list of points of contact you can use for future promotional activities.

Here are some questions to consider:

Where do they network? What conferences or workshops do they attend? What magazines, publications and newsletters do they read? What websites do they visit frequently? What directories are they listed in? Where do they advertise their services?

Your promotional activities should be pointed toward these areas. Otherwise, you're left with direct solicitation that isn't the most effective way.

About the author: Go to

www.loan-officer-marketing.com to get a free copy of Jeff Nelson's Marketing Planning Guide, a 20-page workbook designed to help you outline a strategy to become an Agent Magnet.

1st And 2nd Mortgage Refinance Loan - Refinance And Lower Mortgage Payments

Author: Carrie Reeder

Refinancing both your first and second mortgage will lower your monthly mortgage payment and qualify you for overall lower rates. It will also save you money on closing costs and application fees. And while you are looking at rates and terms, you can reevaluate your loan's payment schedule to better fit your budget needs.

Why One Mortgage Is Better Than Two

Lending companies prefer financing one total mortgage rather than two separate loans. So second mortgage rates are at least a point higher than first mortgage rates.

Refinancing your two mortgages into one will qualify your for a lower rate mortgage. Since lenders charge flat application fees, you will save money by going through the process only once. Closing costs can also be cheaper.

Readjusting Terms

In all likelihood, your mortgages have different terms. Refinancing is a good time to reevaluate those terms and decide what would best meet your budget concerns.

If lower payments are your concern, then choose a longer term. While this will increase your total interest costs, it will ease your immediate budget concerns. Then when your financial situation improves, you can make principal payments to offset the interest costs.

When concerned about interest costs, it's best to opt for a shorter term with its lower rate. You can also pay points to further lower your rates. But this is only wise if you plan to keep the loan for several years in order to recoup the costs.

Separate Is Sometimes Better

In some cases, it is better to keep two separate mortgages to save money. In some instances, refinancing your mortgages individually will get you better rates overall. This is especially true if your total mortgage principal equals more than 80% of your home's value.

If you plan to cash out part of your home's equity while refinancing, you may also want to finance a second mortgage separately. Cash out refi loans automatically boost your loan's rate.

In order to find your best option, request quotes for refinancing your mortgages together and separately. Also look at several different lenders to be sure you are getting the most competitive offer.

About the author: Carrie Reeder offers advice about Refina nce Mortgage Loans Online. View our Recommended Lowest Rate Mtg Refinance Lenders Online.

Home Mortgage - Reasons To Refinance Your House

Author: Carrie Reeder

Refinancing can have other financial benefits besides lowering rates. Locking in rates can protect you from higher rates, saving you money on future interest costs. You can also change your ARM for better caps to prevent huge monthly increases. Consolidating your bills with your equity saves on credit card rates while providing a tax advantage.

Protection From Future Rate Hikes

An adjustable rate mortgage (ARM) provides the lowest rates for home buyers, but these rates can increase. Monthly payments can jump a couple of hundred dollars a month depending on market rates and loan caps.

For those planning to stay in their home for more than seven years, it is a good idea to refinance to a fixed-rate mortgage if rates look likely to rise. Fixed-rate mortgages offer security from future payment hikes, but with slightly higher rates than ARMs.

Trading In For Better Caps

Many ARMs offer initial low set rates that can change after a couple of years. Jumps in payments can be surprising, especially if you have less than favorable caps. Caps set limits on how much and how often your payments can increase.

Refinancing your ARM can help you negotiate lower caps. You can also find an ARM with set rates for several years, just like with your original mortgage.

Helping To Pay Off Your Loan

Early payment of your home loan saves on interest costs. For those you need a structured approach to make larger payments, refinancing for a shorter term may be the answer.

For instance, exchanging your 30 year mortgage for a 15 year mortgage can reduce your interest costs by almost half, even at the same rate. Even with the origination costs, early payment will still save you money.

Taking The Tax Advantage

Mortgage interest is tax deductible, unlike interest on other bills. Cashing out part of your equity to pay off bills can give you a financial edge to get ahead. Be sure to make refinancing part of your larger financial goals to enjoy the full benefits.

Investigating Lenders

Investigate lenders before you sign a contract to be sure you are getting the best financial offers. Ask about their APR to get a true understanding of the loan costs. Many financial companies post this information online, or you can request near instant quotes.

About the author: View our recommended mortgage re fi lenders.