When it comes to the sales industry, one surefire way to set you up for premature hair loss, stressful days and high blood pressure, is spreading yourself too thin.
If you’re anything like me, I’m guessing you are familiar with the ‘roller coaster.’ You prospect to fill your calendar with meetings one week, and the next you are too busy running those meetings to go out and prospect any more! Back to back sales calls with little to no time for prospecting. Not by coincidence, they have sales reports where every other week is great, and alternating weeks are poor.
When you are the only passageway or point of contact, everything flows through you. Leaving you with weeks where you prospect to fill your calendar for the next week and weeks where you do little prospecting because you are busy with appointments.
For Loan Officers I would contend that you always have to fight the battle of working in your business as opposed to on it. It’s a really tricky thing to overcome.
Here are a few of the ways we are building systems to help MORE loan officers solve this problem . We will tie this into how you can use systems in your business to reduce your ATPT (Average Time Per Transaction) numbers later.
Today we are going to be talking about the basics of Batching: With Pre-Approve Me, batching is needed so that we can educate more people in one event. With software, it's hard and capital intensive to invest an hour, one on one. You run out of time in the day, are not talking to enough people to capture market share and the cost to manage that level of service would cause prices to skyrocket. So, plan to fill up a webinar so that you can spend 1 hour educating 10 Loan Officers. That is a 10x return on investment.
Additionally, these webinars help you pre-qualify possible customers so that you don’t spend a dedicated hour talking to someone who has already decided they are not buyers.
As a Loan Officer it’s even worse because you have costs associated with each applicant (Credit Report) and some borrowers who express an interest in being Qualified simply are not ready or capable of buying now. Plus, it's competitive out there!
How might you use Batching to attract and convert more clients? One thing I’ve done in the past with a lot of success is market and host Home Buying Seminars. You can fill up a conference room with 5-20 possible Future home buyers and take them A-Z through the process. I always loved hosting these with a real estate agent who can help discuss the house parts, while I focus on the Loan Process. This can be done in person or online as a webinar. You will capture different types of people based on the delivery method.
Want to batch your Real estate partner growth? Realtor lunch and learning can be an awesome way to connect with several realtors at one time, leverage the excitement of your Mobile App, Niche Loan Programs, or have an “Elusive Underwriter” come answer questions for 15 minutes.
Here is a map to getting your lead flow up using a Realtor Batching Strategy.
Step 1: Get 10 realtors commitments to join you for a Lunch and learn. (Expect about 70% show rate) - There are 2 ways of doing this, you can host yourself or offer to come in and host a meeting in one of their offices. I've found that it's easier to do it at their office because they have meetings already. But you can control the environment better if they come to you … you pick. (Or do both)
Step 2. Use the meeting as a way to build rapport and share with them the value of you, your team, your technology, your loan knowledge … along with the value of batching. Introducing the idea of home buyer seminars in the meeting will open them up to the idea later.
Step 3: Call each realtor after the meeting and talk to them about setting up a home buyer seminar or webinar. Driving home buyers can be done easily through online ads. Facebook, Google and believe it or not … Craigslist. Make sure you get approval for your ads from compliance.
**IE: Tired of Renting? Invest in your future by learning the secrets of the home buying process from 2 of the area’s top Real Estate and Mortgage Pro’s.** (Run this by compliance before you run with it)
Michael is a Broker Owner/Loan Officer with 16 years experience. He originally developed Pre-Approve Me in order to solve problems he was experiencing in his own business and is committed to making the Home Loan Process as smooth and easy as possible.
Building a unique business is a challenging feat, especially with competition at an all-time high. It takes more than just turning on your computer to start generating income. As an entrepreneur, I've faced my share of obstacles, but I've had the opportunity to gain insights from an accomplished businessman and marketer, Nick Carpenter.
Our Personal, No-Pressure Sales Team can help walk you through the ropes, and explain why Pre-Approve Me is the clear cut mortgage software choice that encompasses not just Point-Of-Sale functionality but also far beyond.Get Started for FreeSchedule a Demo