Thursday, June 26, 2008

What's the best way to get these people into a home?

The other day someone sent this question in: "Their isn't banks that will go 100% purchase anymore and people don't have the 5% or 10% down and I hear down payment assistant programs are going to end. Whats the best way to get these people into a home?"

You will not like the answer to this question, at all, but... that doesn't mean it's not the right answer, nevertheless.

To answer this question you need to dig back thousands of centuries to a wise old Chinese man named Confucius. And one of Confucius's many maxims was "It is simply not possible... to make chicken salad... out of chicken shit."

At least, I think that was Confucius. It may have been a bartender I used to know, but I'm pretty sure it was Confucius.

Anyway, what matters is that his wisdom is dead-on here. If I was teaching high-school I might have said, "You can't make a silk purse out of a sow's ear," but by now you get where I'm going with this, I'm sure.

The point is, that person isn't your customer, any more than the fat woman who wants to wear a size 2 dress is your customer. I realize this isn't very popular because most LOs think a qualified prospect is anyone who's got a pulse, and that wants a loan, but this is misinformation.

The days of Willy Loman running around screaming "Always be closing," are gone. Long gone. And besides, that's a painful way of doing business. And life is painful enough without adding more pain to it from your business.

And so this is the real problem: not knowing who your customers are, and trying to fit square pegs into round holes.

I have certain parameters as to who I'll work with, and so does every other successful person I know -- especially if you're in the service business where your time is so incredibly precious. (If you don't feel the same way, you have other issues, believe me.)

The only possible thing you can tell the people in this position is something like, "Right now, you can't qualify for many of the best programs out there. But once you can put a few dollars together, I will be able to help you, and we'll get it done smoothly and swiftly." And then you add them to your monthly mailing list so they don't forget about you once they do have the cash they need, and then you move on to the next QUALIFIED person to work with.

That's the best way to get these people into a home, and this is the best way to get yourself excited about working once again -- by working with people who are qualified to be doing business with you in the first place.

Make sense?

O.K., good. Now if for some reason you aren't signed up for tonight's free 2-hour teleseminar, "7 Little Things That Make A Big Difference In Your LO Business!", then hurry up and sign up right here: http://www.loturnaround.com/teleseminar

Registration for this event closes at 5pm Eastern time, sharp.

After you sign up, you'll also be able to listen to the handout of last week's 3-hour call we had, which has changed the way many LOs now market themselves. The 16-page handout for tonight's call will be distributed later on this afternoon, so sit tight. Again, sign up for the call at http://www.loturnaround.com/teleseminar

Now go close some deals, Craig Garber & Mike Miget

P.S. Talk to you on tonight's call, where we'll get into these issues, in much greater detail.

If you enjoyed this, pass it on to a few of your friends and business associates, and if you have any comments about this message, PLEASE -- leave them here on our blog -- it's important you let us know what you're thinking!:

3 comments:

chris said...

iagree with what you say but in our avg joe LO world it seems that 9 out of 10 people we get from our marketing still thinks they can get a mtg a la 2005-2006 100% LTV plus a heart beat and a #2 pencil. You even see it with people selling their homes-(my home was worth $495 back in late 2006 early 2007 and i refuse to take less)
99% about what is out there is negative mtg this mtg that and how can you fight the good fight when fear and ignorance run rampid and your not even making a dent convincing the clients you have. i have so many cash in hand 680plus fico renters that are too scared to pull the trigger-they have excuses like i wont be able to afford the hi cost of heating or inflation-taxes are gonna go up bigtime or mothra and godzilla are making a baby on that block and might crush the house every excuse in the book and like you said it aint our job to convince or make somebody buy anything we need to deal with the people that have said i want to-and then we tell them why using us would be to their benefit. i might put out an angry advetorial on lookie lous and pansies and timewasters- maybe that would cut down on 90% of the deadbeats- to get 40-60 calls in for my report and to call back after i ve sent it(two step process)and wasted that money in paper costs and time to find out i only have 1-2 sincere people per month to originate. thats my 2 cents. Chris (the Hobbit) Hobel

chris said...
This post has been removed by the author.
chris said...

hey thanks for using my comment on air .
p.s. i am a dude

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