Mortgage Marketing: 3 Critical Components to following up with homeowners

"Guys, which lead follow-up system is the best?" This is a good question and it's one loads of loan officers are always asking.

And the answer is, almost any lead system is "the best," as long as it has these three components:

One, it's got to be consistent. I've never seen actual statistics from a study, but the numbers I keep hearing consistently over the years, say that prospects lose 10% of their recollection about you, each month that goes by.

I happen to think this number is greater, actually, as our lives become busier and busier -- say closer to 20%. And no doubt, the quality and intensity of your contact with them impacts this dramatically, as well.

An impersonal follow-up phone call is virtually worthless. And a sales call disguised as an impersonal follow-up phone call is actually worth negative points because all you're doing is pissing people off.

The best form of follow-up, where you control the intensity, is some kind of direct mailer, but that's another subject for another day. For now, let's stick with the basic 10% rule.

This means if you meet someone today, if all you do over the next 6 months is call them once, you are basically nothing more than a faded memory. Another sales person ignored and forgotten.

So make sure whatever you're doing, you're being consistent.

Two, you've got to keep in mind that the purpose of the follow-up is to forge your relationship with the homeowner -- NOT to remind them how badly you want to sell them a loan. So your follow-up should be relationship-oriented.

This too, is a completely separate topic unto itself, and I'll talk about this a little bit next week, but rest assured you'd better be on this, if you want your follow-ups to mean anything.

And three, you want to make sure you're always offering your prospect something in each of your follow-ups. After all, if nothing gets bought until it gets sold first, so don't ignore this. Otherwise you'll be following up like crazy, but the guy across the street who asks them to buy something is going to close the deal, so watch out!

So the answer to "the best" follow-up system, is really, any system you create that is consistent, develops and intensifies your relationship, and makes an offer. The rest... really is... up to you!

*** Loan Officers: Need More Cash? Only 14 days left until the kickoff of our
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Now go close some deals, Craig Garber & Mike Miget

P.S. Loan Officers: Need More Cash? Only 14 days left until the kickoff of our
ARMs Marketing Program. Join us at http://www.loturnaround.com/arms and read all about it at http://www.loturnaround.com/armsprogram

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