A year ago, the flow of mortgage refinancing opportunities had slowed to a trickle. Today, refinance opportunities are everywhere—and there are ways of farming your database to ensure that you don’t miss any of them.
During this free live webcast on Tuesday, June 25th at 2:00 EST, you can learn how to properly farm your database and convert more leads than ever before. Mortgage professionals who are using AI to identify quality leads are seeing an ROI of 10x or more over their previous methods.
From people shopping mortgage rates out of curiosity to people listing a home for sale, to the tremendous amount of equity that buyers have, most originators don’t stay on top of it all, thinking that clients will return when they’re ready. But individual situations are constantly moving, whether or not the originator knows about them, and a lot of business slips through the cracks.
“The biggest mistake LOs make is ignorance. It’s thinking that . . . nothing is happening inside their database until something happens that they know about,” said Alex Kutsishin of Sales Boomerang. “[It’s] thinking that their database is as active as when they discover something, and that’s not true.”
During this 60 minute live webcast, you will learn how farming your database the right way will:
• Grow your referral networks and multiply the number of referrals you get
• Significantly increase client retention
• Significantly increase LO retention and recruitment
• Build emotional connections between you and your borrowers
• Give you a consistent amount of opportunities regardless of the season
• Give you access to all your refi deals, all the time
• Give you the insight on the deals that are possible right now
If it costs $8,000 to originate a loan, and if you have 25,000 customers, then you spent $200 million on building that database. Rather than spending more time, more effort, and more money on getting new borrowers, you could be constantly getting a return on that database asset that you already have.
Think of how that could flip the power dynamic with partners. Everyone wants to get in with realtors, but Kutsishin says to look at the bigger picture.
“The realtor has a person that may want a home. But that’s just one person,” he said. “Less than 10% of people, from first contact, will move forward. So there’s nine out of 10 that don’t move forward, which means the realtor only gets one out of 10, which means the other nine, the lender has the power to track. The realtor doesn’t. The realtor does not have the legal power to track things like credit improvements, debt increase, they do not have the permission or purpose by law. So who are they without the loan officer? They are the ones that are sitting there hoping and writing good luck charms and carrying rabbit’s feet to figure out when they’re going to get the next deal. It’s the lender that the realtor should beg for,” Kutsishin said.
Take advantage of the surge of purchases and refinances over the coming months, and do more business than you thought possible. You’re sitting on a goldmine. Catch this free live webcast on Tuesday, June 25th and learn how extract the gold.