Craigslist and news again. Kind of amazing just what people do and see on Craigslist that makes posts like these. Never thought one site could be so popular.

ABSOLUTELY AMAZING!!! The best effective method without spending thousands on mail campaigns.

Use your Realtor to help collect a list of mortgage brokers in the area and then set up a seminar and power point presentation showing them how this system will work.

When I initially became a SREC student back in Dec this product was offered as a OTO and in my opinion it should have came with the program. I researched every where and found Referral Renaissance, another former/current? SREC student selling a similar package with PP presentation and all. I guess I was bitter about the fact that extensive lead generation training should have been included so I could fill the pipeline fast and have a reason to stay on board for coaching. Anyways the past 3 months have been a learning experience and I can say that here in AZ – Ethics is HUGE for a lot of these Realtors. Some are so old school and unwilling to change they won’t even approach their broker to see if they will come on board and some are still so green that they run and tell their broker what we are doing and explain it as “flipping” so the first words out of their mouth are “NO”. The past 3 weeks we have been going directly to the DB of the office and meeting with them trying to get in front of all their agents at one time. Looks like this might happen in the next 2 weeks as the brokers are smart and know they just can’t rely on REO’s – heck some of their agents don’t even SHOW short sales anymore. In regards to Mortgage brokers – I showed this to my partner and we slapped ourselves in the faaace because we went about it wrong. We were simply asking for people that couldn’t be helped via refi or LM be sent our way – WRONG WAY… the WIIFM principal always stands. We immediately re/approached a bunch of MB and have appointments setup for today, tomorrow and all next week. Showing them how if just 4 referrals a month started to close how that snowballs not only on the front end of 1 point closed with the bank but these are all guys we talked to about finding no seasoning requirements and we said that if 1 out of every 4 closings funded with them how that would look. On the phone they loved it. So that’s my entry for the drawing – truth and all.

- Eric Jones

Great video. I look forward to implementing these techniques and getting more deals from mortgage brokers. A lot of realtors I’ve talked to do have problems with referring because of their fiduciary obligations. It’s good to know that mortgage brokers don’t have those same issues.

Glad to see this strategy finally taking off Josh! I knew it was worth the extra mention and pushing…

Folks, take it from me being in the mortgage industry and SREC coaching club, this strategy is extremely effective and will get you immediate, warm, qualified leads at no cost. You can exponentially grow your pipeline of deals by contacting mortgage brokers and loan officers…

Now get after it and implement it!

This method would have a little more cost(purchasing a list), but it would have maximum leverage. Create a one page flyer with a great headline, a few top benefits, and a call to action to check out a landing page. Then get a list of fax numbers for mortgage brokers in the area.
Send a fax broacast out to the list and drive them to the landing page. Those brokers that would enter their information into the landing page would then be directed to an extensive, copy rich, benefit laden sales page that contains multiple testimonials/video testimonials of smiling brokers praising the service that you provide.

The sales page could be selling a seminar, a webinar, a online training program or some combination of both.

Once this was done then ea month you could send out a faxblast with updated copy/testimonials.

Update

Don’t faxblast until you have established a relationship with the broker.

Hey Eric – I appreciate your feedback and honesty about the coaching program and the course. The reason we didn’t include it was for a few reasons. #1 – more advanced idea that some “newbies” wouldn’t be able to understand and then convey to the MB community. #2 – when the course was launched this was a newer idea that i had and was untested back when we first launched the blueprint which was last August almost 8-9 months ago. I certainly didn’t want to include something in the course that was unproven and so i kept it out. #3 – the COI referral marketing concept alone turned into a 150 page manual, 10 dvd/s and 10 audios and a couple mind maps. I am a firm believer in NOT overwhleming new students with too much content b/c then they do NOTHING b/c they don’t know where to begin. They have a sense that the implementation is going to take to long or too difficult. So for all those reasons the Referral Renaissance course was created as a seperate course and a pure marketing course. I left out the “how to do a short sale” b/c that’s in the BLUEPRINT.

So thanks again for your feedback. Hope that helps

JOSH

PS. which one of my students is using my powerpoint and selling it??

Josh,

Thanks for the follow up response. It’s funny how a different perspective can make all the difference with how something is viewed, especially in an un-selfish way. With your response I ABSOLUTELY AGREE. An overwhelmed student would never take action – so I completely understand now. I also wanted to say (because I didn’t before) that the course IS VERY SOLID on it’s own and can take someone that knows nothing about a short sale to being able to complete one. Something to be learned for the novice and pro as well.

The comment I made above was that he put out a product in this same niche with a PP presentation as well. I have not purchased his course so I am not sure if it is your material or not but I just went back and looked at the sales page and there is an edification testimony from Greg so I doubt it’s the same stuff. Definitely a niche market as there is not too much info out there. Send me an email to the logged email and I will send you the info and link if you would like.

Update for others contacting or thinking of contacting mortgage brokers. If you break it down for them and show them what they could make for a dead loan mod or refi referral they will gladly take a sticky note with your name and number and put it on their monitor and call you with wanting to make money off their lead they spent money on. I open up with a simple introduction and then ask them what they do with people that can’t be helped via a refi or loan mod – hear there action and if they say something along the lines of “nothing” then you say well would you like to make some money from a referral instead – answer is always yes… I have also got, “well I refer them to a Realtor that brings me business” Still not possible to sit down with the Realtor and explain what you do and if the MB is good and has paper that doesn’t require seasoning get your end buyer to PREQUAL thru him… Sit down with both the MB and Realtor. The key is not just a call to ask for referrals, the key is to show them the money – it’s what keeps YOU on top of THEIR mind. That’s my experience so far — thanks Greg for a very helpful blog post!

Josh,
I really appreciate hearing this concept from you. It’s so simple that I never thought of it! It would be a no brainer for me since I am or I was a mortgage broker. What is the cost of the referral marketing course?
As usual, your content is beyond killer. I can’t thank you enough!

The information was fantastic on the video. I have designed a flier that shows a casket with the words dead leads on it. Then beside it it has flowers blooming with all the different way the mortgage folks can make money that you have explained to us in the video. I am excited to see how this works. I always enjoy your videos and the information that I learn from them. Thanks