Back when I worked with a bank (prior to brokering), I won the most prestigious award within the entire company of 60,000 people while in the role or mortgage specialist. Part of the reason for winning was my year over year growth in all Caterogies: Mortgage Origination, Realtor Referrals, Long Lasting Client Relationships, Insurance Penetration and the list continues. The key to my success was simple. I only had 20-30 purchase clients when I reviewed my business from the prior year. I only had 20-30 people to ask for referrals and was trying to figure out how to grow my business. What I decided to do was figure out how many leads I could get from a singular mortgage and here is what I did:
I had for argument sake 25 purchases. I had two family members on 20 of the deals so now had 45 people to market to. I reviewed the purchase agreement and had 25 buyer agents and then took it a step further and had 25 listing agents. I found out the lawyer on each deal and had 25 real estate lawyers I found out who referred each client and had 25 referral sources. I quickly had 105 contacts from 25 purchases. Of those 105 people they all worked for companies with multiple people I could market, multiple friends, testimonial opportunities and the list continues. I quickly turned a 25M origination into a $70M origination from a simple activity - in trying to find how many opportunities can a purchase transaction have. This is why I always want new brokers to find purchases. I recently did this activity and found over 20 opportunities with one purchase. Whats even more exciting is I found new revenue opportunities during this excercies.
If you'd like my
downloadable blueprint to find 20 + referral opportunities on any purchase transaction as well as how to optimize your revenue on each mortgage, email me
scott@thewestlaketeam.com with the subject line
"The Bulletproof Blueprint"