Mar03news08

In case you missed my email a few weeks ago about my Preferred Service Provider networking system, here's how it works.

If you will email me with your TOP 5 preferred service providers, I will call them and add them to my database. Then, I'll start calling past clients over the last 2 years to touch base and to explain this concierge service.

In all conversations with service providers and with past clients, I will talk about you too as much as I can. This pinging will help me bring in new clients for my business and for yours. It will work because all of these service providers are like you and me. They are out in the general public everyday drumming up business and if I help keep OUR NAMES in front of them with these contacts, they are going to remember BOTH OF US.

Same goes for the past clients that might be getting ready to buy or sell or that might know someone who is. Maintaining our business relationship is key to building our referral base.

SO, email me with your top 5 service providers that you like to refer to your clients and friends. Anything to do with home repair or yard work. All I want is their name and phone number.

Hopefully, you can see how this networking that I am going to do for you is a very valuable service and hopefully and eventually, you will call me to help you on one of your clients too.

Call me on your next client and I'll make you very proud!

Sam Thompson, Senior Mortgage Advisor

Mortgage Services, PHH Mortgage

Don't forget about the neat trophy "Thinking Outside the Box" that I am giving away to the one with the best creative comment to help me serve you better!! Ends soon! I've gotten some great feedback but I want more so I can improve my service to you!

sold

A colleague told me about a speaker that he heard that did a study on the top agents in our industry. This study found that the star agents hit the same numbers in many markets with different companies with the following key similarities:

They were #1 in listings sold

They sold the highest percentage of their own listings (close to 50%)

They made the most sales

They generally carried a listing inventory between 14 and 18 (in general, some were 20+) at any given time

They turned their inventory over every 60 to 90 days.

Basically what he was saying is; the agents that made the most money had a very balanced business. They interviewed the agents hitting these numbers and here is how they did it:

"They absolutely would not take a listing under any circumstance unless the seller agreed to their terms and conditions. They would only take a listing at a price that they knew with almost 100% certainty would sell in 90 days and the property had to be prepared to show to potential buyers at that price"

Part of your listing process should include having the seller get pre-approved with a great lender (like me) so you and they will be assured that they will be able to buy the new home of their dreams after they sell their current home. By doing a pre-approval, which includes running the credit report, I am able to inform my supporting agents as to how many mortgages their sellers have on their property with the payoffs of each. This will enable you to give them an accurate net dollar amount.

Isn't this valuable information that you need when you list a property? It might save you a ton of time working on a listing that doesn't have a chance to sell...

In addition, I wanted to remind you about our "Special Financing" option for sellers giving you a key feature in the important pricing portion of your lising presentation. This will greatly help you differentiate yourself from other agents. In fact, with this in your presentation, you can encourage them to interview other agents and compare the pricing strategies to yours.

A great pricing strategy that I think would sell well to your prospective sellers would be to recommend listing the home 5% higher than what your research dictates with our "Special Financing" option which is equivalent to a 5% price drop.

In fact, with this promotion, you are more likely to get more personal calls on your listings to explain how this works!

You can promote that the seller is buying the rate down ½% off the current market rate off a 30 yr fixed rate or 1% off the existing 5:1 ARM rate. Then, have a set plan of future price reductions on a set timetable always leaving the "Special Financing" option on the table. This program is a win/win/win for the buyer and seller and for you the agent!

By following this strategy, your sellers are going to like you and will believe that you are the best choice for their sale! This lets them see the sales pricing strategy that you can add your marketing and open houses that you are planning to do for them as well. And if you will call me, I can help you develop a listing sheet for your listing presentation too!

CALL ME IF I CAN HELP!

My brands* that I represent are:

Want to jazz up your website? Add the "get approved" graphic below and then put my website link in the properties of the image as follows. Call me if you need help with this.

http://samthompson.phhmortgage.com/

http://samthompson.c21mortgage.com/

http://samthompson.coldwellbankermortgage.com/

http://samthompson.eramortgage.com/

*Any time I am working with your client, if you are under a specific brand, I am projecting your brand logo in all that I say and do as do my colleagues.

Handing out business cards is a big part of prospecting in any kind of sales, especially in real estate sales. These are your little advertisements with your photo, contact information, brand name, office name, awards, etc. But, when you hand them out, you need to smile a lot and promote youself so that they are kept and not thrown.

In addition, you should also give out a couple of extras so they can hand them out to their family and friends too. Just give them permission to do it and tell them how they can promote you!

Say something like "Tell your family and friends that I know the market and how to maximize my clients real estate value and I would love to work with them on their next transaction!"

If you are interested, here is a website that advertises little business card envelopes that you can use to hand out several business cards in a neat little package at one time. This way they can keep your cards nice and neat for weeks to come!

You can write a personal note on the envelope like...

"Thanks for promoting me! " or "Thanks for letting people know about me!"

Click here: Business Card Envelopes, $19.95 for 250!

This week brings us the release of five economic reports to be concerned with. Two of the reports are considered to be only moderately important while one is of extreme importance to the bond and mortgage markets. With the key reports spread throughout the week I am expecting to see a fairly active week in mortgage rates.