Guaranteed to Get Your Business

Regardless of Interest Rates!

(The Corporate Benefits Program accounted for 26% of my business when I originated mortgages. You can develop your own system or purchase my system. Visit this site (http://www.corporatebenefitskit.com to purchase. The kit contains an audio CD, sample letters to employers and sample copies of brochures and posters.)

Just when you thought you had refinanced everyone in the world—you now have even more business than you can say “grace” over! Low rates, increased home values, high levels of credit card debt have kept you busy—closing your guts out. Consider yourself LUCKY if by the end of the day you only have 55 phone messages to return. You know the 1003 word-for-word.

You have heard the warning—”rates will go up again and then what are you going to do?” If history really does repeat itself, one-third of the loan officers originating mortgages will leave the business. Why? They simply will not have a plan to generate new business and keep those loans rolling in the door.

It does not have to be that way. The wealth of information that is contained in your closed files right now is enough to set up a “Corporate Benefits” marketing program where you can have employers referring business to you without having to spend a bunch of money.

Does this happen to you? You get a telephone call about interest rates. You provide closing costs and information to a potential client on refinancing their mortgage. You meet with the client, process and close the loan and before you know it, five other people from the SAME company are calling you for an appointment. Why? Because people talk! The work place is a “family nucleus” just like a traditional family; only these people are not related by blood. They talk to each other; they share what’s going on in their lives—including their finances.

Now that business is pouring thru the door and you can trace where your business is coming from (a database is a must here), I want to tell you about the corporate marketing program that I developed and used successfully for years.

Because I was refinancing two, five, up to nine individual loans for employees within the same company, I was able to establish a referral/support system. I began the process by setting up an appointment with the President of the company to offer, “special closing costs savings” exclusively to their employees. My goal was to have the President of the company endorse me as the preferred mortgage loan officer and distribute my marketing materials to their employees.

Here are tips on how you can develop a Corporate Benefits Program. Using these techniques, I was able to convince 36 companies with over 22,000 employees to endorse me as their lender of choice. This did not happen overnight—it took almost three years to sign up 36 companies—but look at this as a long-term marketing system.

Step 1: Develop a closing cost savings program with your vendors. Ask the title company to take $50.00 off the closing fee. Ask the appraiser to discount the appraisal by $50.00. Take $50.00 off your junk fees. Ask the surveyor to reduce the fee by $25.00 and if a purchase transaction, reduce the home inspection fee by $35.00. This is an initial cost savings of $210.00 (which cost you only $50.00.)

Step 2: Find a real estate attorney who will offer a free, one-hour consultation with your clients. Most attorneys will provide a FREE, one-hour consultation anyway—but by putting a value on it, this is another service that you are providing. The value of this service is usually $150.00 per hour. Offer a free financial check up with a financial planner—at another $75.00 per hour. And find an independent insurance agent to provide and compare up to three insurance quotes for your client.

So far, we have achieved $435.00 in savings for the corporate employee.

Step 3: THIS IS HUGE! Develop relationships with three or four real estate agents who will pay $300.00 in closing costs for the clients you refer to them. (This is deducted from their commission at the time of closing.) The closing costs they pay could either be applied to the sale of a home and/or the purchase of another home.

Here’s the benefit to YOU. You are controlling the transaction by letting the employees know that YOU have selected real estate agents who will pay some of their closing costs. YOU are the one referring a client the real estate agent. You are handing them pre-qualified clients that they had to spend NO marketing dollars up front to get. They spend it on the back end—only when the deal closes. They would have had to pay a much higher referral fee if another real estate agent referred the buyer/seller to them. Your deal is an absolute bargain to them!

With just a few phone calls, you have put together a package of benefits worth $735.00.

Once you have established your package of benefits, determine which companies to target. My recommendation would be to start with companies with 500 to 1,000 employees. You will have a better chance of getting “endorsed” than with the HUGE companies with thousands of employees and layers of management. Search your closed-loan files for loans you have closed for multiple customers who work within the same company.

Step 4: Identify the Company and send them a letter. The letter begins, “How would you like to offer your employees the benefit of saving over $700.00 in closing costs when they purchase or refinance their mortgage—without costing you a dime?”

Statistics show that if you send out five letters you will get two to three appointments. From these appointments you will get one company to sign up with you. Now, you can handle that, can’t you?

Do some fact finding when taking an application. Find out the number of employees in your client’s company. Get the name of the President of the company (NOT the human resource person—you want the President). Ask your client to be a reference source for you if you do a good job for them.

Here’s the easy part. On the 5^th of each month, review all your closed loan files and pick out five companies you want to target. Look at the income, (you really don’t want to target minimum wage companies), number of employees and evaluate the likelihood of receiving an endorsement. Yes, you can find the time to do this. Set up an appointment with yourself and mark it in your calendar. It’s only two hours per month to get your name out to thousands of people.

Once you receive the endorsement, develop a brochure listing all the savings available to the employees if they transact business with you. Do not list the names of your vendors in the initial brochure. You provide the list of vendors when they meet with you. (You don’t want them to go around you and contact your vendors directly or worse yet, tell your competition who you are using.) Develop a poster (11 x 17 laminated) to be posted in the break room or near the time clocks. You may have to print several of these but this can be done very inexpensively at Kinko’s. The printing cost for 1,000 brochures and two posters is about $100.00 total.

Words of caution here: If the company will not distribute the brochures or let you put up posters—DO NOT do business with them! Your whole goal here is to get your brochures and marketing pieces into the hands of over 500 employees at one time. Do the math—one company per month, 500 employees, 12 companies per year = 6,000 people who have been told by their company that you are their mortgage company of choice.

Just one more thing! When you print your brochures, include an expiration date one year from the time of printing. This gives you a chance to update your closing cost savings, add or delete benefits and more importantly, you can distribute and remind the employees of your benefits all over again.