How to Build a Digital Referral Business

When you think about it, most of your business likely comes from referrals in one form or another. Referrals typically have a 30 percent higher conversion rate and, when current customers are satisfied, 69 percent of customers will recommend you to other people. In fact, 2.4 billion conversations take place every day in the United States that focus on brand-related content. So, if referrals are so crucial to business growth, why aren’t referrals a part of most business marketing strategies? Not taking the time to focus on your referral channels is a missed opportunity. Learning how to start a referral business will help you boost your lead generation and conversion.

Benefits of referrals

So, how can you really benefit from starting a digital referral business as a part of your marketing plan? While we have already shared a couple of statistics, they are only the tip of the iceberg, so to speak. Some other benefits and referral statistics include:

• 82 percent of sales leaders believe the referrals generate your best leads.
• Referrals and word-of-mouth can boost the effectiveness of your overall marketing efforts from 54 percent.
• For every single happy customer, you can receive an average of nine referrals.
• 92 percent of potential clients trust a referral from friends and family.
• Referral leads have a 16 percent higher lifetime value than other marketing techniques, as well as a 13.2 percent higher spending rate.
• 86 percent of businesses with a structured referral business marketing strategy experience revenue growth within two years.
• 33 percent of Facebook users choose to use a brand based on posts made by friends or family members.
• When referred through social media platforms, 71 percent of consumers are more likely to use a brand.

How to start a referral business

The purpose of starting a referral business is to attract new leads for your business. Understanding your goals, such as which leads you want to attract, and how to achieve those goals is essential to starting a referral program.

Here we go over some tips on how to nurture and engage your customers in order to promote a good customer experience and reliable referrals.

Establish an online presence

Before you begin an active referral business, it is essential that you establish a positive online presence that will allow referrals to find your business. This includes a business website and social media profiles. Make sure that these sources have a way to capture new referrals, such as email signup or newsletter registration.

Deliver a great experience to the client

Great referrals begin with happy customers, so every referral business must begin with providing a customer experience that meets all your clients’ expectations. When you do this, clients are more likely to spread the word and send potential clients your way.

Build client loyalty

Client loyalty is the measurement of a client’s willingness to continue engaging and purchasing your product or service. Establishing customer loyalty is an important part of increasing the lifetime value of the client. It is also a way to boost referral prospects. Providing a high-quality customer experience during the loan process is a great way to start building client loyalty. Asking for feedback after closing can help show that you care about their experience and value their feedback to make improvements. Maintaining frequent communication through emails or social media helps keep your name in their minds and lets you keep them updated on important changes or promotions.

Make it easy for them to refer

While many clients will freely work to refer friends and family, others simply don’t know how. Providing them with easy referral methods, such as referral cards or referral links to your website, will allow them to easily send potential clients your way.

Law of reciprocation

When you give, you shall receive. This concept works when it comes to referrals and is the perfect opportunity for you to help clients and business partners while they help you. When you provide referrals to previous clients or partners, they are likely to repay the favor with referrals. For example, your last client was a plumber. You have a family member that has burst pipes, so you refer them to your client. He then remembers his sister is purchasing a new home, so he refers them to you.

Say “Thank You”

Any time you receive a referral, whether from a previous client or a business partner, be sure to say thank you immediately. This can be through a simple phone call, a thank you card, and a small gift.

Follow up referrals quickly

When you receive a referral, take advantage of the referral right away. While the referral has been sent your way, leaving them waiting too long may send them looking for an alternative business that is ready to communicate with them now.

Identify and explore formal referral/alliance relationships

Develop beneficial relationships with your business partners that can provide referrals for both of you. For example, if you work closely with a realtor, consider asking them to promote an article of yours on their website or emails. In exchange, you can feature a blog post of theirs. This cross-marketing can help promote both your businesses, as well as generate quality leads.

Automate

Many aspects of your referral business can be automated, leaving you to focus on direct contact with your clients and referrals. With a CRM, you can utilize things like automated website email list signups and then use customer referral templates for follow-up emails and more.

Let your referral business work for you

Establishing a referral business allows you to take advantage of your high-quality customer experiences and make it work for you. Your referral business can be your biggest lead generation marketing tool. Contact us at Good Vibe Squad to help you understand the importance of lead generation and how our services can help boost your leads even more. To learn more about how we can help boost your business, check out our Fastrack and Unfair Advantage programs today.

How to Build a Digital Referral Business is available on: www.goodvibesquad.com

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Loan Officer Guide to Mortgage Compliance

The mortgage industry is highly regulated and, as a mortgage loan officer, your business strategy must abide by mortgage compliance regulations. While many loan officers and businesses pay compliance officers to monitor for compliance, all loan officers need to have a basic understanding and it is a good idea to follow a mortgage compliance checklist.

Here we look closer at mortgage compliance and what it means for you and your business.

What is mortgage compliance?

Mortgage compliance refers to the rules and regulations that regulate the mortgage process. Following these regulations is a legal requirement for all loan officers and following these regulations is a key component for your success. Compliance laws are always evolving and, as a loan officer, you must be aware of these changes and how the requirements impact the way you perform in every aspect of your workday, including your marketing strategy.

Why is mortgage compliance important?

Mortgage compliance exists to protect the consumer (buyer) and lender, as well as allow tracking and improvement throughout the loan process. For the consumer, the compliance rules help to reduce their risk. Compliance can include things like being upfront about closing costs as fees, as well as helping the borrower determine necessary home and mortgage insurance. For the lender, both federal and state-level compliance rules help to reduce the financial institution’s risk.

Compliance rules are also in place to help track and improve the mortgage lending process. The collection of data through regulatory measures helps improve the process while allowing you to evaluate the current mortgage process and find ways you can improve. Following these rules helps to ensure that loan officers are following all regulatory laws.

Regulations all mortgage professionals should know

While the many compliance rules can seem overwhelming, having a basic understanding of these regulations is important. Here are a few of the main regulations every loan officer should know.

1. Truth in Lending Act (TILA)

The Truth in Lending Act (TILA) began in 1968 as a way to protect consumers from predatory lending practices. As a loan officer, this means that you must provide written disclosers in clear and simple language for all loan terms and costs, such as the annual percentage rate, the total amount financed, finance charges, monthly payments, number of payments, and the total loan cost.

2. The Home Ownership and Equity Protection Act (HOEPA)

Enacted in 1994, the Home Ownership and Equity Protection Act (HOEPA) was an amendment to the Truth in Lending Act (TILA). The goal of this act was to address abusive practices seen in refinances and closed-end home equity loans. The goal of this act is to discourage banks and other financial institutions from predatory lending. If a mortgage or home equity loan meets the high-cost coverage tests within the regulation, certain disclosures must be made by the lender. In addition, this regulation protects home buyers from overpaying for private mortgage insurance (PMI).

3. Home Mortgage Disclosure Act (HMDA)

Enacted in 1975, the Home Mortgage Disclosure Act (HMDA) mandates that mortgage lenders maintain, report, and publicly disclose certain records to monitor lending practices. Maintaining these public records allows regulators to monitor geographic targets, follow and report mortgage market statistics, and identify predatory or discriminatory lending practices.

4. Flood Zone Determination and Flood Insurance

Flood Zone Determination puts forth certain requirements for property located in flood zones. It puts forth flood insurance requirements for property in a flood zone and prohibits new loans on property located in specific flood hazard areas.

5. Ability-to-Repay/Qualified Mortgage (ATR/QM) Rule

This rule requires lenders to make a reasonable, good-faith determination of a buyer’s ability to pay a loan according to the terms.

6. Real Estate Settlement Procedures Act (RESPA)

Enacted in 1975, the Real Estate Settlement Procedures Act (RESPA) requires that lenders and loan officers provide certain disclosures, such as the servicing disclosure statement, at the time of application or within three days of application. The act also works to eliminate abusive lending practices by eliminating the use of kickbacks for referrals and limiting the use of escrow accounts.

7. TILA-RESPA Integrated Disclosure (TRID) Rule

Enacted in 2016, the rule integrates the forms required under the Truth in Lending Act and the Real Estate Settlement and Procedures Act.

8. Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act

The Secure and Fair Enforcement for Mortgage Licensing (SAFE) Act was enacted in 2008 and mandates a nationwide licensing and registration system for all residential mortgage loan originators through the Nationwide Mortgage Licensing System and Registry.

9. Telephone Consumer Protection Act (TCPA) and Do Not Call List (DNC)

These rules regulate telephone communication including telemarketing, the use of automatic dialers, pre-recorded calls, text messages, and unsolicited faxes. The DNC prohibits the contact of those on the list.

Why do loan officers need to know these regulations?

First and foremost, you are legally obligated to comply with these regulations. They are designed to protect the consumer, but also to protect the lender. In addition, they can help you to track and improve your overall loan process. They allow for complete business transparency and help to build a relationship with your clients that, in the long run, can help to increase referrals and leads.

Mortgage compliance can help your business grow

While complying with these mortgage compliance regulations may seem time-consuming and frustrating, they create the foundation of a successful business. These regulations are in place to enhance the mortgage process and make it fairer and more transparent. Following these regulations will ensure your success and help drive more business to your door.

The Good Vibe Squad understands the desire to grow your business while still maintaining mortgage compliance. To learn more about the programs we offer, check out our FastTrack and Unfair Advantage programs today and let us help you boost your business.

Loan Officer Guide to Mortgage Compliance was first published on: https://goodvibesquad.com/

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Mortgage Loan Ads Using LinkedIn

When mortgage loan officers think about LinkedIn marketing, they focus on their profile and networking with others, and the organic reach they can achieve with these marketing tools. However, LinkedIn offers a powerful ad platform that can be a great benefit for loan officers. Creating mortgage loan ads on LinkedIn can help drive new leads and referrals to your business.

Setting up LinkedIn mortgage loan ads

Setting up a LinkedIn ad campaign involves visiting their LinkedIn Marketing Solutions platform. Once you register and create your account, you are ready to start creating the campaign and ads that you want to run. However, before you get started, there are a few things to consider.

Set your objective

The first part of creating your LinkedIn campaign is determining its purpose. What exactly do you want to achieve with your ad campaign? LinkedIn offers three primary objectives for you to choose from. These include:

• Awareness – Are you looking to simply boost your brand awareness? Choosing this objective allows you to promote your brand, services offered, your company profile, or a special event. This objective is a great way to boost brand awareness on LinkedIn.
• Consideration – Under the consideration category, you can choose one of three options: website visits, engagement, and video views. These ad options can focus on driving traffic to your website or a specific page, help to increase engagement and followers to your LinkedIn profile, or share your videos with a wider following.
• Conversions – Conversions is the third category and again has three different sub-choices: lead generation, website conversions, and job applicants. Here you can focus your campaign on things like capturing leads, driving traffic to your website for downloads/new registrations, or promoting job openings with your company.

Define target audience

The next step involves defining your target audience for your ads. This section allows you to choose from a wide range of different demographics, so it is important that you have a good understanding of your target audience.

Establish your budget

Once you have your objective and audience defined, it is time to set up your budget. If this is your first ad campaign, it is a good idea to start with a small daily budget that will allow you to test your ad. If, after a few days, you see that it is achieving the desired objective, then you can increase your budget as needed.

Schedule your campaign

Once your budget is set, it is time to schedule your campaign. Choose a start date and then you can choose to run the campaign for a certain amount of time or continuously.

Track your conversion

Once everything for your campaign is set up, the most important part is making sure you set up conversion tracking. Here you will need to click on “Add Conversions” and choose you conversion settings. This will allow you to track your individual campaign and see the actions that people take after they click on your ad.

Types of LinkedIn ads

Once you create your campaign, your focus turns to your ad creation and ad type. LinkedIn offers a wide range of advertising opportunities with different ad placement and promotions. Here we take a look at some of the various options you have available.

Sponsored content

Sponsored content, also known as native ads, shows up as promoted ads in the LinkedIn feeds of your targeted audience. There are four different types of ads that you can choose to use for sponsored content.

• Single image ads – This ad uses a single photo image with an ad name, headline, and introductory text. You also have a wide range of call-to-action choices you can include. This ad will link directly to the URL of your choice.
• Video ads – Video ads offer the same choices as a single image ad except the image is replaced with an MP4 video.
• Carousel ads – Carousel ads allow you to tell a story using images and text that lead a prospect to take action. Here you can choose between 2-10 carousel cards with a maximum file size of 10MB.
• Event ads – Event ads are geared to boosting your attendance at LinkedIn events.

Sponsored messaging

Sponsored messaging delivers ads directly to the inboxes of LinkedIn members. These messages can help boost engagement and get conversations started with interested leads. There are two different types of ads available for sponsored messaging.

• Conversation ads – These ads are designed to engage and promote conversation and conversion with LinkedIn prospects. These allow for the creation of a message along with images and links that can include your website, email signup, webinar registration, and more.
• Message ads – Message ads are designed to spark conversation and action. These are a great way to introduce yourself to prospective clients and encourage them to return the message or visit your website for more information.

Text and dynamic ads

These ads run in the LinkedIn right rail section and are only visible to those logged in on a desktop computer. There are three main options in this ad category.

• Text ads – These ads are text-only and can help drive new customers to your business on a budget.
• Spotlight ads – Spotlight ads allow you to showcase a product or service and help boost traffic to your website.
• Follower ads – Follower ads are designed to help boost your LinkedIn page followers and increase your audience.

Let LinkedIn work for your mortgage business

LinkedIn, as well as LinkedIn mortgage ads, can be a great addition to your lead generation program and a great way to boost your business. If you are looking for additional lead generation ideas, contact Good Vibe Squad and we got you covered. Check out our Unfair Advantage and Fastrack systems to see how they can help you achieve your lead generation goals.

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YouTube Video Marketing for Loan Officers

As a loan officer, you are always looking for ways to connect with clients and enhance your business. Finding original and unique ways to target new customers can make a big difference and YouTube may be the answer you are looking for. While many people think of YouTube as a simple video platform, the truth is it is so much more than that. When used correctly, it can become a successful marketing tool that can help you build relationships with both past and present clients. Learning how to leverage YouTube by creating a successful YouTube video marketing strategy can make a world of difference when it comes to your business.

YouTube is much more than simple videos

YouTube is best known as a social media source for entertaining video content. However, it is much more than that. Owned by Google, YouTube is the 2nd most visited website in the world, sitting only behind Google. It is also the 2nd largest search engine, after Google, and accounts for one-third of all web traffic throughout any given day, with the average viewer spending over 24 minutes viewing content. And given that Google owns YouTube, optimized videos posted on the platform gain extra points when it comes to search engine rankings, giving you more visibility to potential clients.

Should loan officers use YouTube for their marketing?

Creating video content is a great way for loan officers to begin building rapport with potential clients. In addition, this powerful tool, when connected to your website and complimentary articles, can help increase website traffic, driving interested and qualified potential clients directly to your door.

What kind of videos should you create?

Once you create a YouTube channel, you are all set to start creating and uploading content. But what kind of videos should you create? What type of content will drive the most clients to your business?

Here are a few topic ideas to give you a start. While many of these ideas work for your YouTube channel, others are great ways to add videos to other areas of your marketing strategy. For example, videos can boost email marketing, as well as your social media marketing.

Introductory messages

An introductory video is essential when starting your YouTube channel. Think about what you say when you meet potential clients in person and simply record a message that includes the same information. This is a great way for them to get to know you and make an initial connection.

Mortgage marketing videos

Once you have your introduction out of the way, it is time to create marketing videos. These videos are designed to essentially market yourself to potential clients. Share what sets you apart from your competition.

Mortgage news updates

The mortgage industry is constantly changing and sharing the industry changes and new updates in video form is a great way to connect with not only potential clients but also past clients, your colleagues, partners. When creating these videos, be sure to share the information in easy-to-understand terminology and end the video with an invitation to contact you for more information.

Holiday well-wishes

As the holidays approach, consider creating a holiday greetings video to share on your YouTube channel wishing your followers a wonderful holiday season. In addition to adding this video to your channel, you can also include the video in your email marketing when you send out holiday greetings to current and past clients, as well as business partners.

Mortgage process updates

The loan process can be time-consuming and stressful for your clients. While you will likely send emails or make phone calls in order to keep them in the loop, creating a process update video to include with your correspondence is a great way to personalize your correspondence and your clients are likely to appreciate the extra touch.

Follow-ups and thank you’s

Whether you just had a meeting with a potential client or business partner, you want to say thank you and follow up on things discussed in your meeting. Instead of simply sending an email, consider creating a personalized video instead. This adds a more personal touch and helps to build a relationship. In addition, a personalized thank you video is a great way to thank partners for referrals.

YouTube video marketing for loan officers

Successful YouTube video marketing is more than simply recording and uploading video. Everything from the content you create to how you optimize it online requires prior research and a thorough understanding of your target market.

Here we look at some tips that will help make your simple videos powerful marketing tools.

Keyword and audience research

Research is the foundation of any marketing strategy and creating a YouTube channel is no different. Before you record your first video, you need to spend some time on YouTube doing some keyword searches. What keywords deliver the type of content you are looking to share? Understanding these keywords will help you optimize your content. In addition, that audience is searching for this information on YouTube. So, how can you target that audience?

Videos with a purpose

Once you understand the keywords and your audience, you can create content that targets these keyword terms and your target viewers. Keep your videos short and to the point, so that they can easily receive and understand the information they are searching. Be sure to include ways for them to follow up and connect with you when they desire. If you have a large topic you want to cover, consider breaking it up into a series of smaller videos. This caters to viewers who often have short focus time, bringing them back to view subsequent videos. Always stick to your topic at hand and don’t forget to include a call to action at the end of every video.

Don’t forget the video description

While the content you record is important, writing a good YouTube video description is often more important. A good description not only helps pique the viewers’ interest but also provides a way for them to contact you. In addition, it helps with SEO. A good description helps the algorithms better understand your content and suggest it to new viewers. When writing your description, focus on your keywords and be sure to include a call to action with a link to your website.

Be creative and have fun

Don’t be afraid to be creative and have fun when making your videos. Remember, YouTube viewers want to be entertained. Consider your keywords and think of unique ways to captivate your audience.

Add free promotions

Everyone loves free things and YouTube viewers are no different. Consider offering a free item, such as a mortgage guide download or a free mortgage consultation, at the end of your videos.

Using YouTube to your advantage

Taking advantage of YouTube marketing is a powerful way to bring in qualified new leads and take your business to the next level. If you are looking for more information or other lead-generating tools, the team at Good Vibe Squad is here to help. To learn more about our Unfair Advantage, contact the team today for a consultation and let us help boost your business!

The blog post YouTube Video Marketing for Loan Officers is courtesy of: Good Vibe Squad

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Tips on How to Take Pictures with a Selfie Stick for Lead Generation

Lead generation is essential to your success as a loan officer, and you know that building and nurturing a relationship is an important component. Social media, such as Facebook or Instagram, allows you to create a profile and connect with potential clients. Putting your best face forward is essential to get the most of this online interaction. But you need the perfect photos!! Enter the selfie stick! Not only can using a selfie stick help improve your profile photos, but it can also open up the world to many new photo opportunities.

Here we take a closer look at using a selfie stick and how it can help you boost your lead generation.

How to use a selfie stick for photos

Using a selfie stick to take your photos is relatively easy, especially now given most phones and selfies sticks offer Bluetooth connectivity. Simply pair your phone with your selfie stick, mount your phone into the device, and use the button on the selfie stick to snap your photo. While the process is easy enough, it doesn’t guarantee perfect photos. Here we offer some tips on how to make the most of your selfie stick when taking photos.

Watch your lighting

When it comes to the perfect photo, lighting makes all the difference. You need to pay close attention to your light source and how harsh it may appear, as well as if it casts shadows on your image. Natural and indirect light is your best friend. If you find that indoor lighting casts shadows or odd coloring, consider moving near a window to harness more natural light.

Make sure your lens is clean

Before you snap your photo, be sure to take the time to clean the camera lens on your phone. Do this AFTER you have your phone in place on the selfie stick to eliminate fingerprints or smudges that can ruin the perfect picture.

Take advantage of angles

With a selfie stick, you can take advantage of angles. For example, taking an image from a higher vantage point can help remove shadows and provide you with a more complimentary view for your profile shots. However, when working with angles, you also must consider the selfie stick, making sure your stick doesn’t make it into the image.

Keep your arms out of the photo

As we mentioned above, when using a selfie stick, you must take care to avoid your arms in the image. Adjusting the angle of the camera (phone) can help minimize the stick in your photos and allow for the focus to remain on you.

Find a solid background

When taking a selfie, your focus is often on you. However, you must put just as much focus on the background of your photo. For more professional photos, consider a solid wall or office background that is not overly cluttered.

Get creative

A selfie stick is not just for selfies. They allow you to bring creative angles and new perspectives to your photos. For example, when signing the closing papers with your clients, consider adding a photo of them signing their papers from an above angle.

Offer a smile

When taking a selfie, don’t forget to smile. This creates a much more inviting and personal image for potential clients.

Using selfie stick photos for your mortgage business

A selfie stick can offer many options to help boost your social media presence and lead generation. Not only can you use it for photos but consider adding some videos as well. Here are some tips that you can use your selfie stick to implement.

• News – Whether you are adding industry news or company news, a video is a great way to give it a personal touch. Connect with your social media followers by creating a news video.
• Onsite – Capturing the signing of loan papers and handing the keys over to a new home buyer is a great way to provide them with a photo as well as show potential clients your success.
• Training videos – If you are adding new loan officers to your company, a training video is a great way to help them learn your company’s policies and their daily duties.
• Sales – Looking for a new and unique sales marketing idea? Consider making a video introducing yourself and talking about how you can meet the needs of your potential clients.
• Recruitment – Trying to hire new team members? Create a video with your current team and show potential prospects the amazing team they would be joining.
• Video FAQs – Have you had followers ask questions online? What better way them to answer them through a FAQs video. This allows you to provide the answer they are looking for while also providing a personal connection. Chances are you will have other potential clients with the same questions as well.
• Socials – Photos in general are a great way to connect with potential clients. Using your selfie stick to take photos of your office, closing signatures, awards, and more allows you to promote yourself and your company.

Selfie stick photos can boost lead generation

Adding a selfie stick to your marketing arsenal can help boost the quality of your images, as well as provide the opportunity to create unique views of your business. Adding these images to your social media accounts, as well as your website, can help nurture relationships and boost your lead generation.

If you are looking for additional lead generation, including automated marketing, the team at Good Vibe Squad is here to help you. To learn more about how we can help boost and automate your lead generation, contact us online today.

Tips on How to Take Pictures with a Selfie Stick for Lead Generation was originally published to: goodvibesquad.com

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Loan Officer Tips to Help Clients with Low Appraisal

Appraisals are a necessary part of the home buying process. However, the loan appraisal process can throw a wrench in the home buying or refinancing process when the appraisal comes back lower than expected. While low appraisals do not happen often (according to Fannie Mae they occur less than 8% of the time), they can be frustrating for both the buyer and the seller and can make your job closing a home sale much more difficult.

Here we offer some home appraisal tips as well as options when an appraisal comes in low.

How does a low appraisal happen?

Many different factors can affect an appraisal and any one of these can result in a lower appraisal than expected. Here we look at some of the most common contributing factors to a low appraisal.

• Home appearance – The appearance of a home makes a big difference when it comes to an appraisal. A professional cleaning (including attics, basements, and garages), proper staging, fresh paint, and a well-groomed yard can make a big difference.
• Housing market conditions – Appraisers use comps (comparable housing sales) in their efforts to make an appraisal. Understanding the current (within the last month or two) housing market and comparable property values is essential when anticipating an appraisal value.
• Seller overpricing – In many cases, the seller promotes a higher value with their listing price that is not in line with the current market value.
• Neighborhood foreclosures – Similar to housing market conditions, foreclosure rates can also play a role in the appraisal. Foreclosure homes in the neighborhood can reduce the appraisal a home receives.

What can you do when an appraisal comes in low?

If a low appraisal comes in, it doesn’t necessarily mean that the sale is done. There are some things you can do as a loan officer to help your buyers complete the sale. Here we offer several options that you can use to fight the low appraisal or work around it.

Filing an appraisal dispute

When a low appraisal comes in, it is important that you thoroughly look over the appraisal report. If you (along with the realtor or homeowner in the case of a refinance) believe that the appraisal is inaccurate, you can file an appeal on the decision with the appraisal company. While this process is typically difficult, providing supporting data, such as recent neighborhood comps that brought in higher values, you may have a good chance at receiving an adjustment.

Adjust the financing

If the appraisal comes in slightly lower than the offer price, you can offer the buyer adjustments to their financing that reduce the down payment and allow for money to be used as cash to make up the difference. For example, if the buyers offered $200,000 on a home and the appraisal came back at $190,000, financing the $190,000 with a reduced down payment, allowing them to pay the $10,000 difference at closing, could be a workable solution. While this may raise the monthly payment and interest rate for your buyer, it can provide a solution.

Compromise on the sales price

If evidence shows that the appraisal is accurate, it may be beneficial to talk with the seller about accepting an offer on par with the appraisal. In many cases, and as long as the difference is not too great, the seller may be willing to work with you and the buyer to facilitate the sale.

Getting a second appraisal

If you, the real estate agent, agent, the buyer, and the seller all believe that the home appraisal was incorrect, you can request a second appraisal. However, it may still not change, and you must consider the cost of the second appraisal.

Loan officer tips for the appraisal process

So, as a loan officer, what can you do to help reduce the risk of potential low appraisals and help your buyers or refinancers complete their financing needs? Here we look at some loan officer tips that can help reduce the headaches caused by low appraisals.

Establish clear expectations

Home appraisals can be confusing for borrowers, especially when they have already had a home inspection. Why do they need something else? Being clear with them about every aspect of the appraisal process is essential. If this is for a home refinance, explain all the information that they should share with the appraiser, such as additions or upgrades, unique home features, and comparable property sales. Also, let them know that appearance matters and to prepare their home in the best way possible to help ensure a favorable appraisal. Never promise an appraisal value to a buyer before the actual appraisal is received, as this can create false expectations when the actual appraisal doesn’t come through as promised.

Become familiar with the property

As a loan officer, it is in your best interest to become familiar with the local housing market and individual properties that your buyers are considering. Partnering with a local real estate agent can help give you a deeper understanding of the local market, what to look for in properties, and what to expect with the home appraisal. This can help you better inform your buyers and be ready for the appraisal. In addition, certain loans, such as FHA, may come with specific appraisal requirements, so knowing more about properties and the appraisal process can help you be better prepared.

Talk with the borrower

If a buyer is looking to refinance their home, talk with them about how to achieve the most out of their appraisal. Tips such as staging their home, making minor repairs, professional cleaning, and landscaping, and providing complete lists of improvements and additions can make a big difference to the appraiser.

The bottom line

While no buyer, seller, or loan officer wants to receive a low appraisal, they do occasionally present themselves. As a loan officer, understanding the housing market and the local for sale properties can help you avoid surprise appraisals and help your borrowers complete their purchases. If a low appraisal still occurs, knowing how to work around it can make you the hero for your buyers.

Loan Officer Tips to Help Clients with Low Appraisal is courtesy of: https://www.goodvibesquad.com

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LinkedIn Marketing for Loan Officers

As a loan officer, making the most of your marketing is essential when it comes to lead generation. While many people turn to Facebook when it comes to social media, there is a wealth of potential available to you on LinkedIn. While many refer to this as the professional’s version of Facebook and think that it is only good for networking and finding employment, the fact is LinkedIn provides an excellent recruiting tool for lead and referral generation.

What is LinkedIn?

Just like Facebook, Twitter, and Instagram, LinkedIn is a social network. However, LinkedIn is a little different. LinkedIn is a professional networking site with the main objective being to help business professionals make business connections, share their experience and resumes, and, when necessary, find a new job. As a loan officer, LinkedIn can become a powerful tool when used correctly. While you may currently use LinkedIn to connect with realtors, home builders, or CPAs to create referral partners, when used correctly, LinkedIn can also be a powerful marketing tool.

Loan officer tips for effective LinkedIn marketing

As with any social media marketing, you need to think about your LinkedIn strategy before you even get started. What are your goals and how will you best achieve them? Here we offer some of the top tips to help you make the most out of LinkedIn.

Make the most of your profile

When starting on LinkedIn, you must turn your focus away from just the simple resume. Having a complete and polished profile is a great way to introduce yourself to potential partners and clients and can be your most valuable marketing tool. For example, if a potential borrower Googles your name, your LinkedIn profile is likely to come up in the results and a good profile provides the best introduction. Here are some tips to think about when creating your profile.

Photo

A high-quality photo goes a long way. You want your photo to be professional and not a simple selfie shot from your phone. If you do not have a professional headshot, now may be the time to invest in one.

Headline

Your headline is your initial title and introduction to a viewer. This could be as simple as your job title and company name, or it could be something more eye-catching. It all depends on the vibe you want your profile to have. Your headline is also a good place to add your NMLS number, as well as state licensing numbers.

Summary

Your LinkedIn summary is often the first chance for people to learn about you and who you are. While you want your summary to be packed full of your accomplishments, you also want to express yourself as an industry leader. In addition, you want to be sure to make yourself personable and approachable. Share your experiences and accomplishments, as well as your passion. Share why you do what you do and what makes your job so important to you. Let your passion shine through.

Experience and education

This is essentially your LinkedIn resume where you list your employment history and education. However, it doesn’t have to be a simple list. Share information about your successes at each previous employer, educational accomplishments, and more.

Recommendations

Reading recommendations and reviews is often how people choose what to buy and who to work with. LinkedIn is no different, so taking the time to add recommendations from others is essential. Consider asking industry partners, previous employers, etc. for a recommendation, and be sure to include it here.

Custom URL

Sharing your LinkedIn URL is a great way to promote your profile and this should be included in all your email signatures, on your business cards, etc. While LinkedIn generates a URL automatically, you can customize it. From the “edit profile” screen, you can edit the URL to anything you want, though we recommend something easy, short, and utilizing your name.

Making connections

Unlike other social media platforms, you don’t want to go sending connection requests to every person you can. If too many requests are declined, your profile can be shut down. Instead, you want to focus on connecting with the right people. Begin by connecting with professional partners, fellow loan officers, and family and friends to create a wide variety of connections to help establish yourself and begin to build your reputation.

If you want to send a connect to someone you don’t know but feel that it would be beneficial, take some time to check out their profile and find something you can connect with. When you send a connection request, be sure to include a note with an introduction.

Posting on LinkedIn

While many people use LinkedIn to provide career updates, there is so much more you can do that will allow you to connect, interact, and build relationships on the platform. You want to build up your reputation as an industry leader and what better way to do this than to share your industry knowledge. Sharing regular blog posts that address topics that benefit your connections, industry tips, and even industry news offers a wealth of information. But keep it simple. Avoid industry lingo and keep your target market in mind.

Make the most of LinkedIn groups

Joining groups within LinkedIn is an essential part of your marketing plan. Joining industry-specific groups, such as a group for other loan officers, is a great place to start. It is a good idea to mix up the type of groups you join. Look for groups that fit within your demographic of both borrowers and partners. Also consider local community groups. Once you are in groups, it is essential that you engage with other group members.

How should you engage on LinkedIn?

Unlike Facebook where everyone is liking and commenting on posts, you will see a difference on LinkedIn. The interaction isn’t as common as it is on other social media platforms. But this presents a great opportunity for you. Actively liking and commenting on posts will not only put you out there to their connects, but you will likely make a great impression on the person who posted the original post. You may even find out they reach out to you or send potential leads your way.

Whether in your groups or through comments in general, take the time to ask and answer questions. When you share a blog post, use the headline to ask connects a question. When others ask a question that you have the knowledge to answer, take the time to answer their question. When answering, prompt follow-up discussion.

LinkedIn can be a successful addition to your lead generation

LinkedIn offers loan officers many different marketing opportunities as well as partner connections. By putting these tips into action, you can make LinkedIn a successful part of your lead generation program. If you are looking for additional lead generation, here at Good Vibes Squad we have you covered. Take a moment to look at our Unfair Advantage™ and Fastrack systems and let us help you achieve your lead generation goals.

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Loan Officer Marketing Tips to Standout in Social Media

In a highly digital world, nearly everyone is on at least one social media platform. People can access them on the go with their phones, spending an average of 145 minutes on asocial media every day. As a loan officer, it is essential to tap into the social media market if you hope to succeed. Building your social media presence allows you to create and build a relationship with potential customers as well as engage with existing customers. Here we offer some social media tips to help you stand out above the competition and make the most of social media marketing.

The importance of social media

For loan officers, social media is one of the most effective ways to connect with your target audience and build your brand. As an active member of social media, it shows potential borrowers that you are available, accessible, and willing to engage and work with them to meet their needs. In addition, being active on social media helps you promote and boost your website which can, in turn, boost your search engine rankings. That boost helps potential clients find you when they perform a simple Google search for “loan officers (your location).”

Standing out on social media as a loan officer

Creating an active social media presence allows you to stand out above your competition. In fact, according to information from the Mortgage Bankers Association, only 20-30% of loan officers are considered highly active and engaging on social media. Utilizing social media and engaging with your followers offers you the ability to increase your origination potential without having to incur additional expenses. Here are some ways to make the most out of your social media experience.

Find your effective platform

Just about everyone has a Facebook page and chances are your target audience does as well. Facebook, along with Instagram, appeals to just about every demographic and has a wide range of community groups that you can join and share your knowledge with. Through Facebook and Instagram, you can share industry information, tips for home buyers, and more all while engaging with your readers.

Twitter is another social media platform that loan officers can take advantage of. With Twitter, you can stay on top of industry trends, monitor competitors, share useful information, such as blog posts, and engage with borrowers looking for information. Be sure to take advantage of hashtags so your target audience can find you no matter where they are.

LinkedIn is often thought of like Facebook for professionals. While you are unlikely to gain potential home buyers through LinkedIn, it is a great place to meet, network, and build relationships with other professionals in your industry and your area. This is a great way to build relationships and partner prospects.

Understand your target market

Before you make your first social media business account or post, it is essential to understand your target market. What do they want to hear from you? What kind of information will spark their interest? Your goal as a loan officer is to show your social media audience that you are an expert in your field, but you also want them to feel comfortable enough to approach you with their questions. A great way to do this is to join your local community groups and become active, answering questions when you can and letting people know you are available when they have questions.

Optimize your business profile

When creating your business profile on your social media platform, it is essential to have all the right information. Your social media profile should clearly reflect your brand, provide all relevant contact information, offer links to your website, and provide a high-quality profile picture in order to give potential clients a face to connect to.

Provide valuable posts

You have your social media account and have created your business profile, but now what? What should you be posting? When it comes to social media, people tend to lean toward people they know, like, or trust, so your first goal is to make posts that highlight your knowledge while also not coming across as simply a salesperson. Creating videos, for example, allows viewers to “meet” you and connect while you provide them with educational information. Blog posts allow you to provide the information your viewers may be looking for. But don’t just simply post a link to your blog. Ask them a question and include the link. This can help promote engagement.

Testimonials are another great thing to post that can show your success as well as happy clients. When you have a great closing experience, ask your clients if you can take a photo and share it on social media. Post the picture with a big “congrats” to the new homebuyers. To further engage potential clients, tag the new homeowners, as well as the realtor they worked with and your location to further boost your post and exposure.

Automating your social media

While this all sounds great, you may be saying, “But I don’t have time for social media.” While your schedule may be hectic on a daily basis, being active doesn’t mean you have to spend all day glued to your account. In fact, most of your social media posts can be automated on a daily or weekly basis, meaning you can post relevant content without having to lift a finger.

However, you do have to commit some time to engage with potential clients. The good news is most social media platforms offer notifications when a potential client asks a question, allowing you to respond in a timely manner.

Be consistent

To make social media work for you, you need to be consistent in both regular posting and engaging. Unfortunately, if you don’t remain active, you will quickly be lost in the shuffle of regular posts and, more than likely, lose regular followers. Poor experience reduces likes and shares, and your social media presence won’t work as you would like.

Let social media work for you!

The goal of all loan officers is to gain potential leads and customers and social media offers a great way to do just that. For those still looking for additional ways to create lead generations in an automated way, Good Vibe Squad offers a great way to attract, automate, and amplify your lead generation and boost your business with their Unfair Advantage System. Visit us online today to learn more.

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Loan Officer Business Cards as Marketing Tools

In the digitally driven world we live in today, marketing tends to focus on things like a business website or social media marketing. While these are important tools, loan officers should not turn their back on time-tested marketing tools, such as business cards. Mortgage loan officer business cards offer you various advantages that the digital age just does not. They can still be a very effective marketing tool to increase your sales and help generate leads.

Business cards as a marketing tool

A well-designed business card is a great way to introduce yourself and your business to potential clients and serve as an effective marketing tool. Business cards are an inexpensive way to provide a glimpse into what you do while giving potential clients a way to get in touch with you.

Easily accessible

Imagine meeting a potential client while waiting in line. You begin talking and learn they are looking to purchase their first home. Obviously, they will be looking for a mortgage loan officer, and this is your chance to make an impression. You reach into your wallet and pull out your business card, letting them know you can help with their home loan. Now, imagine you didn’t have a business card. You would have to find paper and pen to scribble your information or ask them to enter your information into their phone. A business card gives you an easy way to quickly provide your introduction and contact information whenever you need to.

Highlights attention to detail

Traditional business cards contain the basic contact information in a simple black and white design. Unfortunately, adding much more than that to a small card can be a challenge. However, a well-designed card with a good visual design and readability can stand out. These days, it is important to add things to your business card that make you stand out. Having the ability to do that on a small-scale card can highlight your attention to detail and professionalism.

Allows you to make a personal connection

When you hand a business card to someone you meet, you make a personal connection. You show you care enough to provide them with something tangible in order to remember you by. This is much more personal than simply asking them to enter your information into their phone or scribbling down a contact number and name.

Are business cards still relevant?

You might be asking, “In a digital world, can business cards really be relevant to me today?” The truth is the numbers speak volumes. Let’s take a closer look at some basic statistics regarding the use of loan officer business cards as a marketing tool.

• Passing out 2000 cards provides a 2.5% increase in sales. While this may not seem like a lot, let’s look at the numbers. If your business averages $100,000 in sales a year, a 2.5% increase would mean an additional $2,500. When you consider that your business cards will likely cost under $100, your additional sales far outweigh your investment.
• 88% of business cards handed out are thrown away. While this statistic may have you second-guessing the purchase of your business cards, let’s put this number into a different scenario. If you look at your website (and we all know the importance of an internet presence today), the average conversion rate (total web traffic divided by new contacts) is 2.35%. That means, on average, 98% of your website visitors essentially “throw your site away.” You wouldn’t consider taking down your website, despite those numbers. Clearly, adding business cards, which are typically cheaper than websites, is worth the investment.

Benefits of using business cards

You can see that using loan officer business cards can be an effective marketing tool for your business. Here we look at four main reasons why business cards are still beneficial, even in today’s modern digital world.

1. Basic business etiquette

Business etiquette dictates the use of business cards. Think about networking events, tradeshows, etc. Common practice is for professionals to share business cards when they make connections with other professionals.

2. Faster than digital options

If you or the person you meet are in a hurry, sharing contact information through your phone or other digital device is not always possible. However, it is simple to open your business card holder and give them a card.

3. Not everyone is digitally based

While this may seem difficult to understand, not everyone is a part of the digital world. In many cases, potential customers don’t even own a smartphone, which you need to consider. Potential leads may not have the ability to enter your information into their phone but would greatly appreciate an easy way to contact you. Simply offering a business card is the solution.

4. You never know when you meet a potential customer

Imagine you are out with the family for a day at the beach. You left your phone in the car because of the sand and water. But you meet a fellow parent while watching the kids make sandcastles that is currently looking at buying a new home. You can’t get their information into your phone, but you can share a business card from your wallet. Without a business card, this could have been a missed opportunity.

How to effectively use business cards

So, you see the importance of loan officer business cards, but what are the best ways to use them effectively? Here are a few ideas that can help you turn your business cards into an effective marketing tool.

• Always keep them on hand. You never know when you will meet a prospective lead.
• Situate them with referral partners. If you work with local realtors as referral partners, ask the realtors to offer your business cards on their desks or with correspondence.
• Include them in all your correspondence. Every time you mail something to someone in your target market, add your business card.
• Use them in your referral system. At a loan closing, consider giving your clients a few business cards to share with others. If you are sending a thank you to a recent client, send a couple of your business cards and ask them to share with their friends and family. Give extra cards to your realtor or financial colleagues and ask them to share within their network.

Tips on designing your business cards

With most professionals sharing business cards, how do you make yours stand out above the rest? The following tips on both content and design can help you show some creativity without compromising your professionalism and trustworthiness.

• Color – While traditional business cards are black text on a white background, color is a way to make your cards stand out. However, when adding color, don’t go overboard as too much color can be off-putting.
• Text – Make your text clear and easy to read. While you may be tempted to use non-traditional fonts, these can often be difficult to read. Keep the information you include on your card simple and easy to understand.
• Card shape – While traditional business cards are rectangular, many printers now offer different shapes. While these may seem like a way to make you stand out, they are also more difficult for your recipient to place in their wallet or business cardholder.
• Materials – Saving a few dollars on cheap cardstock for your business cards is not worth it. Always choose quality material. Most business cards are printed on high-quality matte cardstock. While you can pay extra for a glossy surface, keep in mind the matte surface is easy for you to write on and add a quick note to the person you meet.
• Consider adding a photo – as a loan officer, you are selling a personal service. Adding your photo to your business card is a great way to provide facial recognition and help your potential leads remember you.

Alternatives to traditional business cards

Whether you are looking for additional ways to make your cards stand out or still aren’t sold on the idea of using business cards, there are some alternatives.

Functional business cards

If you are looking for a way to try and keep your business cards from landing in the trash can, consider creating functional business cards. These are cards that offer a benefit for the person you give them to. For instance, larger size cards can provide your business card information at the top and a tearaway calendar on the bottom. Another option is USB cards. This connects your cards to the digital world. The card itself is a flash drive that you can load with a quick message and information for potential clients, but then they can use it as a functional flash drive, keeping your name in front of them every time.

CRM

If you utilize good customer relationship management (CRM) software that is mobile, you can use this instead of business cards. When you meet a potential lead, simply input their information straight into your CRM. One advantage of this is you can also include notes to remind yourself about the connection you made. However, this does not give your contact your information, and they must wait to hear from you, so setting up immediate campaigns for new contacts is essential.

Business cards are a great tool in your marketing plan

As you can see, while they may seem like a tool from the past, business cards are still a very beneficial marketing tool for a mortgage loan officer.

At Good Vibe Squad, we work with you to help build and grow your business and lead generation. Contact us today to learn more about the services we offer and how we can help your business thrive.

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Ideas For Your Mortgage Social Media Posts

As a mortgage loan officer, you are always looking for ways to market yourself and generate leads and referrals. One key tool to do this is social media. However, in order to be successful with social media marketing, you must consistently post and be engaged with your followers. Unfortunately, many mortgage loan officers don’t know where to start when it comes to social media mortgage posts. Here we offer some tips to help provide inspiration and guidance, allowing you to effectively use social media marketing to boost your business.

Mortgage Social Media Posts for Loan Officers

So, where do you begin when creating social media content? What is going to appeal to your followers, and how do you post something that will engage others? Here are some ideas to help get you started.

1. Infographics

Infographics allow you to break down complex loan process concepts into smaller and more understandable segments, making it easier for the average consumer to understand with a simple glance. The more vivid the colors and illustrations you use, the higher chance you have of followers pausing as they scroll to take a look.

2. Blog posts

If you create regular blog posts, sharing these posts to your social media platforms is essential. Your blog posts allow you to share your expertise and while your followers may not need the information from a particular blog post, they may know someone that does, and they are likely to share that informational content.

3. Testimonials

While most social media post options involve you sharing information, testimonials allow others to promote you. Posting testimonials from satisfied customers help to boost your brand and build trust with potential customers. If your testimonial comes from a social media follower, they may even chime in under the comments to provide more information to potential clients.

4. Mortgage glossary terms

Let’s be honest. Mortgage terms can often be confusing to the average consumer. If you are looking for regular posts to add to your social media, consider a daily or weekly definition post that explains common mortgage loan terms.

5. Quotes

One misconception when it comes to social media is that all your posts must be mortgage loan-related. The truth is, sharing inspirational or motivational quotes included with images is often a good way to engage your followers and have them share your posts.

6. Market statistics

People like numbers and evidence they can see. Posting regular market statistics that target your area, such as how much home sales went up last month, can promote conversations and shares between your followers.

7. Comparisons

Getting your followers to engage with posts is your goal as this helps to increase likes, shares, and comments. Asking simple comparison questions, such as sharing an image of two homes for sale and asking which style they prefer, is a great way to encourage engagement and learn what your followers are really after.

8. Personal accomplishments

This is an area where you can post about your personal accomplishments, such as awards, promotions, or additional education. You can highlight customer accomplishments, such as posting a client closing. Ask your clients for approval and take a picture as they sign their new home documents. Then post the picture with the caption, “Mr. and Mrs. X just signed their first home loan documents today and are officially new homeowners! Congrats!!” This helps connect you to your customers and show potential customers what you can help them accomplish.

How to successfully post on social media platforms

Now that you have some ideas of what to post, here we offer some things to consider when posting in order to keep your followers engaged. Social media platforms can be a great source of free marketing when you use it correctly and we are here to help with these additional tips.

• Timely updates – Sharing your knowledge of industry changes and updates in a timely manner is beneficial for followers.
• Useful tips and tools – Blatant advertising doesn’t always spark interest from your followers but offering useful tips and tools, such as a payment calculator, is something they can appreciate.
• Relevant posts – Not all your posts need to be about mortgage loans, but you want to keep your posts in the industry. For example, real estate topics, credit tips, etc. are great topics to post about.
• Be consistent – In order to keep followers engaged, it is essential to post consistently. For example, we mentioned glossary term posts above. Having a regular weekly glossary post ensures you have something every week (learn more about scheduling posts below).
• Engage your followers – The goal of a post is to engage your followers. Consider asking questions or creating a poll. Encourage discussion with your posts and, if your followers post a comment, be sure to engage in conversation with them.
• Create fun and engaging posts – Not everything needs to be strictly business. Use your social media to get to know your followers. Ask what they are looking for. Post questions about your area. Share a weekly “Fun Facts” post with fun, interesting, and engaging information.

What NOT to Do on Social Media Platforms

While a great post can go viral and build your business, a bad post can really hurt you. Keep these tips in mind when posting.

• Post political or controversial posts – Avoid politics and other controversial topics as these can spark emotional debate and arguments among followers.
• Insulting or harmful posts – Steer clear of any posts that may be considered insulting or harmful to your clients or colleagues.
• Non-compliant information – Avoid any post that shares non-compliant information.
• Posts that make the loan process seem difficult – You know the loan process can be difficult, but it is your job to help clients navigate the process. Posting things that make the process look more difficult can push potential clients away.

Tips for successful social media marketing

These additional tips turn the focus away from what, how, where, and when you post. And also, how to monitor your results. You can have the most amazing content, but you won’t achieve the results you hope for if you don’t do it wisely.

Choose the right platform

When deciding which social media platforms to focus on, you must first decide on the prospects you are trying to target. For example, if you focus on first-time home buyers, Facebook, Instagram, and Pinterest may be your focus. However, if you focus on real estate investors, you may want to take a more business-oriented approach and focus on social media platforms such as LinkedIn.

Automate your posts

Once you know where you want to post and have content created to post, you are left with when and how to post. We have mentioned that it is important to post on social media platforms on a regular basis, but this can take time out of your daily schedule. The good news is automation platforms offer a solution. Here you can spend an hour for a week-worth of posts, scheduling them for the perfect times throughout the week. Then, you can go about your regular workday while the automation platform does the work for you. However, keep in mind you should still set aside time each day to engage with comments from your followers.

Track your social media results

When it comes to your social media marketing, you want to be able to track what works and what doesn’t. For this, you can look at things like how many views your posted video received, how many comments posts are receiving, and how many times someone clicked through to your blog post. A helpful benefit of using an automation platform is that they often offer analytics to help you better track your results. If you see something that isn’t engaging followers, try something different.

Connect with clients and colleagues through social media

Social media is growing every day and it is here to stay. Successful loan officers understand this and know the benefits of social media marketing. With these tips, you can take control of your social media and help boost your reach with just a few hours a week.

At Good Vibe Squad, our knowledgeable team wants to help you build and grow your business. Contact our amazing staff today to learn more about our services and how we can help you generate guaranteed leads.

Ideas For Your Mortgage Social Media Posts is republished from: Good Vibe Squad

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18 Must-Have Mortgage Loan Officer App

Today’s world is technology-based. We carry the world in our pocket and, while this can be distracting at times, it can also provide mortgage loan officers with a pocket full of mortgage marketing tools and productivity tools at their fingertips. App-based technology enables you to increase your mortgage business opportunities, work more efficiently, and improve your social reach on the go. Here we look at some of the top must-have apps for a mortgage loan officer.

Apps to increase sales and performance

The key to being a successful mortgage loan officer is business growth. You spend much of your day working to generate leads and create networking and referral contacts. These apps help to increase your sales and performance by allowing you to expand your network and provide responses to clients no matter where you are.

1. Real Estate Apps: Realtor.com, Redfin, Zillow, and Trulia

As a mortgage loan officer, it is key to know and understand your local real estate market. The Realtor.com app allows you to monitor your local real estate market, see who the top realtors are, and understand the average selling prices.

Closely monitoring this app allows you to target things like open houses and home sellers to generate leads. For example, you can target open houses with finance flyers or business cards and connect with top real estate agents for referrals. When you see new houses on the market, chances are, the sellers are also looking for a new home. Sending out targeted mailers to home sellers puts your name out in front of prospective clients.

2. Floify

This mortgage automation app allows loan officers to better stay connected with borrowers and referral partners. It easily allows sending and receiving documents, tracking milestones, updating loan statuses, and efficiently following up with clients.

3. MTA GO

This app is designed to help you locate potential referral partners. With MTA GO you can track real estate agents’ productivity, allowing you to find the top agents based on offices and locations. Once you locate top agents, you can save them to a watch list.

4. Loanzify

Loanzify is a communication platform that helps keep you and your borrowers in the know throughout the loan process. This customizable app allows you to offer a branded digital mortgage calculator to your borrowers. In addition, you can co-brand the program with your realtor partners. This program helps track, catalog, and archive all communication between you and your borrower. The app offers a free trial to start, and their programs range between $39-$69/month.

5. Mortgage Coach Edge

While explaining the mortgage process to some clients is easy, others may need a more visual description. Mortgage Coach Edge allows you to create visually appealing charts, graphs, and videos in order to better explain difficult concepts to potential clients. Offering this service shows your potential clients that you are committed to their understanding. Also, this personalized experience can help close sales.

6. Easy Mortgages-Mortgages Calculator

Mobile apps, such as Easy Mortgages, offer mortgage loan offers mobile mortgage calculators and proposal generators. Imagine working with a real estate partner at an open house and a potential buyer comes in asking about possible mortgage rates and what payments they would expect to pay on the home. With this app, you could put together a mortgage proposal and email it before they even finish viewing the home.

7. LinkedIn

LinkedIn is a valuable tool for anyone professional. As a mortgage loan officer, it is beneficial to have an outstanding profile for yourself and your business. LinkedIn is a valuable tool when it comes to generating leads and referral partners. However, to get the most out of LinkedIn, you need to be regularly engaged with your network. Posting topics, endorsing network connections, adding new potential connections, and leaving testimonials are great ways to stay engaged and grow your network, but this can also take time. Adding the LinkedIn app allows you to use LinkedIn on the go.

8. Rate Watch

During times of heavy market volatility, adding the Rate Watch app can be like having another team member constantly monitoring the market for you. By setting rate alerts, you receive notifications for market happenings, including increases or decreases. This helps ensure you lock in rates at the opportune time and do not miss out on a potential sale.

9. Nextdoor

Nextdoor is a social platform that connects neighbors based on their location and neighborhood and allows them to share information and ask questions. Being active in your local area allows you to stay engaged with locals that may have questions about mortgages and home loans. This allows you to share your knowledge and increase business opportunities.

Apps to increase productivity

As a busy mortgage loan officer, you are always looking to increase your productivity and streamline your day. The good news is many different apps are available to help you do just that!

10. Harvest Time Tracker

If you have ever wondered where your day went, Harvest Time Tracker can help. This app allows you to track your time throughout the day, track project progress, enter hours in timesheets, and schedule teams. It integrates with other platforms, such as Google Calendar, Outlook, and Basecamp. There is a free version, but for a monthly charge of $12/person, you can access all the features and have unlimited project tracking.

11. Buffer

Want to stay active on your social media accounts but just don’t have the time? Apps like Buffer allow you to schedule content for your social media platforms, such as your recent blog posts. This allows you to make posts while you continue to work with current clients. You can schedule these posts for times when your target demographics are likely to be most engaged on social media.

12. Join.Me

If meeting a colleague or client in person isn’t an option, Join.Me allows you to host virtual meetings from anywhere. In addition, it offers features such as screen sharing and video recording. While it has a free app, it also has various paid levels offering more features and ranges from $10-$30/month.

13. EverNote

Is your desk covered in sticky notes? Do you have a notebook full of notes from meetings or thoughts you wrote down randomly? Do you wish you could keep all these notes in one place and organized? EverNote offers that solution. Here you can create simple notes, meeting notes, links to web pages, to-do lists, and more. While the basic program is free, the premium ($7.99/month) and business ($14.99/month) plans offer additional tools, such as project management.

14. DocuSign

As a loan officer, getting a signature on documents is a vital part of your business. DocuSign allows you to automate and digitize your complete documents and signature process, allowing you to collect signatures on the go and in a timely manner. Plans with DocuSign start at $10/month.

15. Upwork

Sometimes you need an extra hand but hiring another employee isn’t in your budget. Upwork is an online platform for freelancers looking to help when you need it. With Upwork, you can post a project and receive bids from freelancers for the job. Once you hire the right candidate, they complete the job, and you pay through Upwork. You can post projects for free or join their Plus Plan for $49.99/month to receive a dedicated account manager that will recruit freelancers when you need help.

16. GSuite

Google offers a variety of productivity tools, and chances are you already use Google Drive to share files and collaborate with colleagues. GSuite brings this to your mobile device, as well as other tools such as a sharable calendar and the option to host video and audio meetings. While the free version is fully functional, you are limited to 15GB of storage. The Basic plan is $5/month, while the business subscription is $10/month.

17. LastPass

In today’s world, just about every site or app you engage with requires a password. LastPass takes the worry out of forgetting your password and being locked out of a program you need. Once you save your password for a site, it auto-fills the login information when needed. In addition, if you have trouble coming up with secure passwords, it offers a random password generator that helps increase your security. This app is free. However, there is a premium option for $3/month.

18. Pocket

Have you even read an article or seen a video that you wanted to go back to later or share with a specific client? Or you started reading something that caught your attention but needed to head into a meeting? The Pocket app is your answer. This app allows you to save articles or videos you find on other apps, such as Facebook, and save the content so you can view it later, whether online or not.

Apps can help you succeed

As a mortgage loan officer, you are always looking for ways to increase your lead generation, gain referrals, and better manage your time. The good news is that technology, such as these apps, can help you do just that, all while giving you more time to focus on your clients.

Here at Good Vibe Squad, our knowledgeable team is also here to help you build and grow your business. Contact the Good Vibe Squad today to learn more.

The following post 18 Must-Have Mortgage Loan Officer App is republished from: www.goodvibesquad.com

Original post here: 18 Must-Have Mortgage Loan Officer App

A Thank You Card from Mortgage Loan Officer as Lead Generation Tool

As a mortgage loan officer, you are always looking to generate new leads. In today’s world, technology is often the most common form of advertising and communication. Emails and social media often dominate your daily lead generation. While these methods are very effective, an old-fashioned thank you letter is often more effective as a lead generation tool. When a loan officer sends a handwritten thank you letter to a client, the client often finds it a more personal form of communication and is often more likely to remember you when someone they know needs a loan officer.

Can sending thank you cards or notes make a difference?

Thank you notes are a longstanding form of showing appreciation for something. Unfortunately, as technology has taken over so many aspects of our lives, sending it has become a thing of the past. However, that fact is what makes sending them now so important. While everyone else is simply sending emails to connect, a handwritten thank you card sets you apart from others. In addition, sending a thank you card to someone you have worked with or just met at a business networking event acknowledges your initial connection, helps you develop a continuing relationship and regularly keeps your name in front of them.

The use of thank you cards for lead generation is unlimited. Every time you meet someone and get their contact information, consider sending a thank you card. For example, when you go to a networking event and meet new people, you often spend the evening collecting business cards. After every new person, make some personal notes on the back of the business card about what you talked about or other significant information. A few days later, send out a thank you card that addresses what you talked about, what a pleasure it was meeting them, and how you look forward to connecting again. This practice opens the door for relationship building and possible leads.

Thank you card templates

While you see the benefits of writing thank you cards for lead generation, writing a thank you card isn’t always easy for people to do. What do you say to make a thank you card work for you? Here we have created some templates that work well in a variety of different circumstances. Simply copy the templates, adding specific personal details to them to make them more customized and address your connection to the individual.

1. Thank you cards for potential clients

This is a perfect template to send a thank you card to someone that has contacted you about potential mortgage loans or refinancing. Be sure to use this as a base and personalize it to the individual’s information.

Dear [First Name],

Thank you very much for contacting me about your new home purchase or potential home refinance. I understand that the loan process can be intimidating and confusing, so please do not hesitate to reach out if you have any questions.

I have worked with many others in your situation and would love the opportunity to help you attain a loan that best matches your needs.

I look forward to hearing from you,

[Your Name]

[Contact Information]

2. Thank you cards to clients after a home closing

After you help a client finalize a loan and close on their new home, sending a thank you card acknowledges your appreciation for them choosing to work with you and is often a great way to keep them in mind when they have a friend in the same situation. It is also a great time to ask for referrals.

Dear [Client Name],

I wanted to reach out and say congratulations on your new home. I also wanted to take a moment to say thank you for choosing me to help you reach your goal of homeownership. Working with you was a pleasure, and clients like you are invaluable to my business.

Enjoy making your new home your own and treasure the new memories you will make.

If you have friends or family members looking to purchase or refinance their home, I hope that you will think of me and pass my name along, so I can help make more dreams come true.

All the best,

[Your Name]
[Contact Information]

3. Asking for potential online reviews

Satisfied clients are great for reviews, but often they do not know where to post reviews. Sending them a personalized thank you card allows you to thank them for their business while also providing information for leaving a review. Use the middle of this letter to personalize the experience you had with this client.

Dear [Client Name],

I wanted to send a quick note to let you know how much I appreciated your business and working with you.

Your incredible organizational skills made the entire loan process run so smoothly, making it an absolute pleasure to help you acquire your loan.

If you have a moment and would be willing to recommend my services to other potential online clients, I would greatly appreciate it. [provide a link to the review site you would like a review on]

Thank you again for being an amazing client. I hope you enjoy your new home!

Sincerely,
[Your Name]
[Contact Information]

4. Sending to clients one year after closing

Keeping in contact with previous clients is a great way to keep your name on their minds for possible referrals. The first anniversary of homeownership is a great time to reach out to potential leads.

Dear [Client’s Name],

Happy Anniversary!! You have been in your new home for a year now, and I hope you have settled in and made some amazing memories!!

I was so happy to help you through your home-buying experience. I just wanted to check in with you and wish you the best. I also wanted to let you know that I am here if you or any of your friends or family members are looking to buy, sell, or refinance your home. I hope you will consider reaching out.

Thanks again, and I wish you a happy second year!!

[Your Name]
[Contact Information]

5. When colleagues send you business referrals

Oftentimes you will receive client referrals from colleagues or other business connections. Thanking them for the referral acknowledges their efforts and allows you to offer help to them as well.

Dear [Colleague’s Name],

I wanted to take a moment to thank you for sending [Client’s Name] my way. It has been wonderful working with them and helping address their needs.

I appreciate our friendship and business relationship and, if I can return the favor in any way, please do not hesitate to reach out. Maybe we can get together for lunch sometime soon, on me!

Thank you again,

[Your Name]
[Contact Information]

Tips for writing thank you cards that work

While a simple email may do for many different client correspondence or lead generation opportunities, thank you cards add an option to your arsenal. When you really want to make an impression, these tips can help make you create the perfect thank you card.

• Write thank you cards on high-quality stationery or note cards. Consider printing special thank you cards with your contact information already printed on the cards.
• Make sure to personalize the card. Take the time to include personal experiences and use your client’s name.
• Always say thank you and clearly express why you sent the note.

Thank you cards as a lead generation tool

In terms of lead generation, sending personalized thank you cards can make a huge difference. They show that you truly appreciate your clients, colleagues, and business relationships, and by simply saying “thank you,” you may be amazed at how many referrals will come your way.

If you are looking for additional ways to boost your potential client base, the team at Good Vibe Squad is here to help. Contact Good Vibe Squad online today to see how our team can give you an Unfair Advantage over your competition.

The following post A Thank You Card from Mortgage Loan Officer as Lead Generation Tool was first published to: Good Vibe Squad

Original post here: A Thank You Card from Mortgage Loan Officer as Lead Generation Tool