Be Thankful For The Mortgage Shake-Up
There is a good reason to be thankful in hard times. Less people in the industry means more loans for you and how you view things will have an immediate impact on your bottom line. Here I explain what's right about the mortgage industry when everything seems so wrong. . . . >>> READ MORE
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A Valuable Mortgage Lesson Learned From Tiger Woods
Unless you've been living in a cave or under a rock the last few years, you've seen first hand how Tiger Woods has become one of the most dominate forces in men's golf. We watched as he won the CA Championship at Doral Golf Club this past weekend by two strokes. Woods won this event for the sixth time, more than any other tournament. . . . >>> READ MORE
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Guaranteeing Your Failure In The Mortgage Business
If you've been in this business for any length of time, you know what a great business this can be. If you're struggling...you need to ask yourself why? Let's be clear on one thing before we go any further... There is no one that is preventing you from succeeding. That's right...there's no one standing in your way, not rising interest rates, the fed chairman, your boss, your co-workers, your spouse, your friends...or anyone else for that matter. . . . >>> READ MORE
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Remind Yourself Why You're A Mortgage Professional
You've probably had one of those days since starting your own mortgage business. It seems like work is piling up, your bank balances aren't where you want them to be, and part of you is yearning for those "employee kind of days" when all you had to do was give the company eight hours and collect your regular pay check. . . . >>> READ MORE
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How To Find A Lender To Work With And Price A Loan Out Properly
One of the questions frequently asked by my students is "O.K., I have someone interested in a mortgage, but where do I start and how do I find this person a loan? I don't even know where to begin. Help!" Knowing which lender to go with isn't hard when you know how. It's simply a matter of getting comfortable with the banks and their programs and building up your own confidence as a loan officer. Here are some tips on how to get started. . . . >>> READ MORE
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How To Find A Job In The Mortgage Industry
The mortgage industry is one of the best industries to be in and the job of a loan officer or mortgage broker is a challenging and fulfilling one. There is no other industry where one can earn the salary of a doctor or lawyer, with merely a high school education or better. . . . >>> READ MORE
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Job Outlook For Loan Officers, Mortgage Brokers And Other Mortgage Professionals From The U.S. Goverment Department Of Labor
According to a salary survey conducted by Robert Half International, a staffing services firm specializing in accounting and finance, mortgage loan officers earned between $36,000 and $48,000 in 2000; consumer loan officers with 1 to 3 years of experience, between $42,250 and $56,750; and commercial loan officers with 1 to 3 years of experience, between $48,000 and $64,750. With over 3 years of experience, commercial loan officers could make between $66,000 and $95,250, and consumer loan officers can make between $55,500 and $75,500. . . . >>> READ MORE
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Originator Business Checklist (To Be Reviewed Regularly)
Here is a great mortgage originator business checklist to help get you back on track with your business. Take a few minutes and answer the questions below. Then review your answers regularly. Do you have an annual income amount you want to make? How much is that per month? What is your average size loan fee per loan? . . . >>> READ MORE
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Improve Your Mortgage Business...Make Yourself Available
Here's an interesting little exercise that's well worth your effort. Make a list of all the different ways your best friends and family members can make contact with you? They can call your home phone. They can call your cell phone. They can call your business phone. They can email you (you may even have given them a few email addresses from which to choose). They may be able to use a form on your website. They can message you at MySpace or some other social networking site. . . . >>> READ MORE
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The Real Estate Mom's Car -- Organizing your Business On The Road
As a real estate professional, you already know your car is an extension of your business. It's important to reflect this in the organization of your vehicle. You don't want a client to see popsicle wrappers and other miscellaneous kid stuff in the backseat of your car. The impression you leave with your clients is vital. . . . >>> READ MORE
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What The Real Estate Agent Wants
Nope. I never did. As a realtor, I never cared about your smile or your kids. I never cared about your rate sheet. I never cared about the fact you could close a loan in five, fifteen, seventeen, or twenty-one days. And most of all, I never cared about the gimmicks you used to acquire my business. The only thing that I ever cared about as a top producing real estate agent was impacting my net bottom line and impacting my clients' lives. . . . >>> READ MORE
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A Week In A Top Prospector's Life
Over the years of coaching, mentoring and seminar speaking, one of the most requested "helping hands" I've been able to give is a perfect week sample. For years, my organizer was a great source of curiosity to local competition and top real estate agents all over North America. I always took great joy in the fact that my week was planned out and time-blocked. . . . >>> READ MORE
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Follow That Leader
To become the best, you need to learn from the best. There was a time early in my career when I was so far into debt -- more than $1 million dollars -- that I needed to earn substantial money each month before I could even afford to buy groceries. You couldn't make mistakes in Southern California real estate market in the late '70s. . . . >>> READ MORE
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Winning The War With Passion
Winning in real estate sales means that you must be doing the "right things" all the time. Thirty years ago, I quickly learned that everyone and everything wants a piece of you. One seller has an empty brochure box and another needs the closing date re-negotiated. The termite guy lost the key and an agent just can't seem to get the door open. . . . >>> READ MORE
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Pros And Cons Of Solo Versus Team
I recently received some questions regarding the pros and cons of working solo versus working with a team. What follows are the questions and my answers. Some of these questions have to be considered in the context of whether a team member is paid overhead or no overhead (a.k.a. FREE!). . . . >>> READ MORE
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Eight Cardinal Sins That Mortgage People
Often Commit, Part 1
If you could identify mistakes that are killing your bridge game, or your golf game, or your exercise routine, or your budget plan, or whatever, would you take heed of that information and correct those mistakes? Of course you would, and so would I. But how about the critical mistakes we sometimes make as Mortgage Professionals? Have you determined if you're making some major mistakes in your mortgage career? . . . >>> READ MORE
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Mortgage Lessons Learned From Man's Best Friend
They say that a dog is man's best friend. Why? Because dogs have this uncanny ability to love and support their masters at all times, even under the worst of circumstances. It doesn't really matter if it's a good day or a bad day...dogs will still be there. Dogs will bond with their owners and stand by them through thick and thin. . . . >>> READ MORE
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Checkmate With Checklists
When I first became involved in the real estate business, I found myself with a manila folder and hundreds of bits of pieces of paper stuck any which way with no regard to purpose, chronology, or importance. Then the day came when I received the phone call from my most important seller...I frustrated him because of my lack of ability to answer his question. . . . >>> READ MORE
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Real Estate Math Made Easy
Real estate math isn't something you need to learn for calculating interest rates or amortizing loans. There are computers and calculators to do that. What you need to know though, is a few simple formulas so you can say whether a property is a good investment or not. . . . >>> READ MORE
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What Is Fair Market Value On Property?
Market value? How much is your house worth? Well, if you don't really need to sell it, it is worth whatever you say it is. If you can honestly say, "I won't sell this house for less than $200,000," then it is worth that much - to you. If you need to sell it, however, what it is worth to you is entirely irrelevant. . . . >>> READ MORE
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Do You Have An Attitude? I Hope So!
Of all of the steps involved in a successful real estate transaction, the mortgage process is the most detailed, most intense, most involved and, most important part of the entire process. Without the successful mortgage process there is no deal (an all cash offer being the exception). . . . >>> READ MORE
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5 Quick Lessons To Make You Think About "How People Should Be Treated"
Great stuff for all of us in the mortgage business...During my second month of college, our professor gave us a pop quiz. I was a conscientious student and had breezed through the questions, until I read the last one: "What is the first name of the woman who cleans the school?" Surely this was some kind of joke. I had seen the cleaning woman several times. She was tall, dark-haired and in her 50s, but how would I know her name? . . . >>> READ MORE
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Your Loan Officer Career Objectives
As loan officers it is very important to set career goals and objectives for yourself. Although a very nice living can be made as a loan officer, you still want to put some goals and objectives out there to shoot for in order to prevent burn out. . . . >>> READ MORE
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Mortgage Leads For New Loan Officers
If you are a loan officer and you are new to the business, one thing you may be short on is leads. Leads can be obtained in many ways. Through customer referrals, networking groups, family members, friends, etc. . . . >>> READ MORE
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A Few Things To Consider About Home-Based Loan Officer Positions
If you are a loan officer looking for a little more freedom and flexibility in your work day, you may want to consider a home base loan officer position. Most mortgage broker shops will allow for you to work from home once they have trained you on their system and have acclimated you to their products and services. . . . >>> READ MORE
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Building An Action Plan For People New To The Industry
Going into your workday and waiting for things to happen, and then reacting to them is not a very productive way of doing things. You may as well be going into your workday blind. This is why it is so very important to have an action plan. An action plan, simply put, is a plan of action, there just is no other way to say it. . . . >>> READ MORE
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