May 2008 The New Quick Mortgage Minute
Weekly Newsletter for Your Business! 
 
Sam		 Dear Sam,
 

Interest rates are improving again and now we have a new R02 program with very competitive pricing for your high-dollar clients up to $729K loan amounts.  Call me for a competitive quote on this.

 

Product highlights:

 

·        Max 90% LTV for Owner Occupied purchases (75% Rate/Term Refis)

·        Max 60% LTV for 2nd home and investment properties.

·        Median credit score (>80% LTV = 700, <= 80% = 660)

·        No 30 day mortgage lates in last 12 mos.

·        Max 45% DTIMax loan limits are based on MSA and can be as high as $729,750 for a single family! Refer to the HUD Maximum Financing Table on the HUD site. Enter the state, county/MSA and select 'Fannie/Freddie' from the 'Limit Type' drop down to obtain the maximum Conforming Plus loan amount available for the location of the subject property.

On another note, a realtor mentioned some quick ideas to me about an ad I placed that I wanted to share so you can think about these for your biz...

Use the phrases, "We have lower interest rates for better credit scores" and "We offer free loan pre-approvals!"

 

She was absolutely right!  These 2 phrases will help me pick up more and better buyers and I'll be sure to include them in my next ad.  We shouldn't take these for granted that people already know these things...

 
I need to promote our VIP status too to help me attract better quality buyers too!

 

You might consider using the word "free" in your advertising to promote your services too like "free new home buyer guide", etc.

 

If you want to promote the financial phrases above in your advertising to help you pick up better quality buyers, you can include my name and phone number and I'll be sure to let you know if I get them pre-approved!  This team approach can help both of us help each other with better prospects.

 
Sam Thompson, Senior Mortgage Advisor
Mortgage Services, PHH Mortgage
 
843-230-7929

justone2
 
That's all I am asking you for!  For every realtor that reads my emails to close just one loan by the end of this year!  I would really appreciate you if you do and I want you to see how we do it and then, I am sure that you will keep calling us for your clients!  We make it look easy!!
 
Just give me a 'sample order' to see if I am worthy of your business...  Just tell your buyers that "Sam has been dieing to show me how good he is.  Let's give him a try to see if he is as good as he says."
 
Call me!
 
Direct Referrals vs Sign Calls or Walk-Ins.
 
northamerica
 
How big is your Sphere of Influence?
 
In my travels this week, the theme of the "direct referral" was repeated by many successful realtors.  They were telling me that the direct referral is the key to getting the better clients.  Getting propects while on call or from your advertising comes in far short from the solid prospects that your referral base can and will deliver. Do you agree?
 
If so, are you doing everything you can to get more direct referrals?  Here are a few ideas and reminders for you:
  • Call past clients to see how they are doing and to tell them about the market and some of the values in the market and then ask if they know anyone thinking about buying or selling.
  • Ask current clients if they know anyone you should call.
  • Send out annual calendars, postcards, birthday cards, etc to past clients.
  • Ask your family and friends and make sure that they know you are in real estate.  Have you asked your family if they will help you in soliciting your business yet?  Why not?  They love you and would be happy to help if you ask them.  Give them permission to promote you and to look for prospects for you to call.
  • Set up a service provider networks like I am doing to help in your networking and in helping them with their business.  By talking to these folks about the value of networking, they are going to start referring you to their clients too.
  • Get involved in more community events and also wear your badge to advertise yourself as a Realtor.  This will stimulate conversation and that can lead to questions and referrals.
    •
 
Invest your money and time in getting more direct referrals and you are going to be more successful!
 
 


My brands* that I represent are:
 
phhlogo     cblogo 
 
    c21logo    eralogo
 
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.

*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.
 
Weekly Tip -  Yard Signs - How and When to Put them Up!
 
decoratedsign
Decorate your yard signs for more pizazz!
 
Decorating your signs will get more attention and help set you apart from the pack of realtors.  Maybe your office could adopt a "new signature look"?  Anyway, in addition to this quick tip, here's what I would do and I am sure many of you do when you get a new listing.
 
Before the ink dries on the listing agreement and before you go home or to the office, knock on as many doors in the neighborhood as you can of the new listing BEFORE you put up the yard sign.  If they aren't home, leave a flyer or listing sheet with a personal note.  Why?
 
Because, you want the neighbors to hear about the new listing from YOU and not from another realtor they might call AFTER they see the sign. 
 
Many times neighbors buy homes in their neighborhood for their parents or children that you can capture!
 
When you get in front of them, be very friendly and tell them about the listing and the price and some information about the reason the sellers are selling if your sellers give you permission.  (Be sure and ask the sellers for this permission because this would help in your rapport building with the neighbors.)  Then offer to give them a personal tour before you have an OPEN HOUSE for the NEIGHBORHOOD and then for the GENERAL PUBLIC. 
 
Then, before you leave, ALWAYS ASK if they know anyone you can call that might be looking for a nice home in their neighborhood.  If they don't right now, leave a few cards and ask them to hand them to anyone they might think in the future or ask them to call you directly.
 
In addition to getting plenty of buyer prospects from this, you will be making a name for yourself that you are a pretty good listing agent and that is going to help with more LISTING referrals too!
 
They are going to say to themselves that you are a go-getter and very nice and friendly too!
 
Also, you should mention this work that YOU ARE GOING TO DO to your prospective sellers DURING your listing presentations so the sellers are more likely to SIGN the listing agreement in the first place.
 
If these tips help you attract a new buyer soon, please call ME so I can help you close them soon too!!!
 
 
 
Weekly Mortgage Commentary Snippet
  Rate Lock Advisory - Monday May. 12th



There are several important pieces of economic news scheduled to be released this week, but two stand out above the others. There are a total of five reports scheduled for release, so it can be considered a fairly active week. There is no relevant data due out tomorrow, so expect the stock markets to help drive bond trading and mortgage rates.