| October 2008 | Weekly Motivational
Ideas! Inspirations that I hope will help you make more $$!! |
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Dear
Sam, Bill finally passed, now what?
After all the rhetoric and opinions and the swallowing of the bitter pills,
both houses finally gathered enough votes to pass the financial bailout
bill.
Now we have to wait and see if this hopes or hurts our credit industry and
our economy.
We cannot control this BUT, we can control our comments and feelings about
this. By being positive and optimistic in our conversations, we can help others
feel better and this is the best way to help ourselves.
Then, we can control the sale and the client. Just like the "Dog
Whisperer" in a previous email. You have to be the "Pack Leader".
We can help our business by holding back negative
feelings and helping consumer confidence with our
consumers!
__________________________
__________________________
Thanks for your business.
 Senior Mortgage Advisor President's Club Member 2007 Mortgage Services
910-489-6918 or
843-230-7929
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Use Expert Advice to Help Sell! | |
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 Wall Street
Bailout!
Everybody is watching the
news, speeches, talking heads and hearing that things are bad and they might
stay that way for a while. These "experts" and politicians are also telling us
to save our cash and spend wisely right now.
So, why not echo that theme
in your conversations to potential home buyers and sellers in your advice to
them as follows:
For Home
Buyers:
1. Spend some additional
time understanding their entire financial situation and family situation now and
in the immediate future.
2. Help them understand a
good course of action and home price range for them to help them through the
next several months.
3. Work with them on a more
personal level.
For
Sellers:
1. Help them get more
realistic in their expectations in what they can expect.
2. Spend more time
educating them on the buyers we are seeing and the homes that they will be
competing with in their market.
3. Spend time helping them
understand the impact of the mortgage tightening and processing that will be
required. But, let them know that it is not as bad as some may think. We can
still get people a loan with a 580 FICO despite some news I have heard
lately.
The point is to stay
focused on selling in all that you do and when you send your buyers to me, I'll
do the same and hopefully, we'll convert a prospect to a happy buyer!
Things are
challenging right now but people are still buying and realtors are still
selling. You can be selling too if you put your mind to it!
Call me if I can help
you!
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 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.
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Weekly Tip - Hunting vs Farming! | |
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 Hunting is critical right now.
If you think about sales in these terms, you can understand better how you
are doing or maybe what you should be doing.
My Regional Manager recently said that we needed to be hunters right now
and she is right! We all need to be hunters right now!
For a quick comparison of the two styles, here are some traits that
describe these 2 types of sales professionals.
Farmers check the soil for the PH level, till, lime, plow, plant,
fertilize, irrigate, control the weeds, control the insects and then they wait
8-12 weeks to harvest their food. This is the "plant eater" strategy
used by sales professionals that get their prospects mainly from past clients or
from their advertising or office referrals. These are the introverts.
In contrast, the hunters sake out their territory, learn more about their
preys habits/likes/dislikes, buy hunting clothes, stalk, use special hunting
stands or blinds and use they use weapons to kill for food that day! This is
the "meat eater" strategy employed by the aggressive sales guys that
are out networking everywhere they can and asking for the business. These are
the extroverts.
Both styles are vital to your business and both can make you very
successful. You are naturally going to migrate to whichever style suits your
personality but right now you need to put on that hunting outfit and start
hunting everywhere you can.
Start by calling everyone you recently worked with or that you were working
with that never did anything. When you call them, tell them about the good news
in the market (low rates, great home values, new tax credits) and ask them if
they know anyone that might be thinking about buying or selling right now.
Use the news of the bailout to explain that this is going to help the
mortgage industry and the housing industry so now's probably the best time to
buy a new home!
So, put on your camouflage (nice clothes, name badge and business cards),
load your weapon, sharpen your spears and go out and get some food
today!
Happy Hunting!
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Weekly Mortgage Commentary Snippet | |
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Weekly Rate Lock Advisory - Monday, Oct
6th.
 This week brings us only one monthly economic report for the markets to
digest and it is not considered to be of high importance. This means that the
week will be left mostly up to the stock markets and other influences since
there is a lack of factual data for bonds to trade on. In addition to the one
report, we will also get the minutes from the last FOMC meeting that can also
cause movement in rates if it reveals any surprises.
The first news of the week comes Tuesday afternoon when the Fed will release the minutes to the last FOMC meeting. These may be a major mover of the markets or could be a non-factor, depending on what they say. The key will be concerns over inflation and the Fed's next move. If the Fed members were concerned about inflationary pressures, we may see the bond market move lower and mortgage rates higher Tuesday afternoon. However, if they indicate that inflation is easing and that a rate increase is not likely in the coming months, we s hould see the bond market rise and mortgage rates drop during afternoon trading. The only factual economic data of the week will be posted Friday morning. August's Goods and Services Trade Balance will be released that day, but is not likely to cause much of a change in mortgage pricing. It will give us the size of the U.S. trade deficit, but usually does not lead to significant movement in bond prices or mortgage rates. Also worth noting are two public speaking engagements by Fed Chairman Bernanke Monday and Tuesday. I don't expect them to have much of an impact on the markets, but his words always have the potential to create a reaction in trading. He will be speaking at the annual meeting of the National Association for Business Economics, but I don't see this to likely affect mortgage rates. Overall, I suspect this is going to be fairly quiet week for the bond market and mortgage rates, especially compared to last week. For the most p art, I believe the week will be left to the stock markets and the Fed minutes. The most important day of the week is likely Tuesday with the Fed minutes, but any day of significant stock volatility may make that particular day the most eventful. The bond market will close early Friday in observance of Monday's Columbus Day holiday, but it will also likely be a non-event to the markets. If I were considering financing/refinancing a home, I would.... Lock if my closing was taking place within 7 days... Lock if my closing was taking place between 8 and 20 days... Lock if my closing was taking place between 21 and 60 days... Float if my closing was taking place over 60 days from now... This is only my opinion of what I would do if I were financing a home. It is only an opinion and cannot be guaranteed to be in the best interest of all/any other borrowers. |
