By Rene Romero

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By Rene Romero Powered By Docstoc
					This is a lender’s presentation – but it can easily be adapted to our presentations.

Do what feels good to you. Do what works for you. Some ideas feel good and some
don't. When I first started out, I tried to do everything that was given to me and I
got overwhelmed. Some things just didn't work for me. So I had to take each one
and say, "Okay, this, I like this. I'm going to use this."

It doesn't happen overnight. Be patient. It's a process, a journey. If you enjoy
yourself along the way, it makes it a lot easier. Don't beat yourself up if you haven’t
gotten everything done that you want to get done. Just enjoy it, and you can always
add to it. I'm always changing and adding and deleting. Every time I come back from
a 90-day training, my staff knows we're going to change some things because I've
learned something new or I've gotten new information I want to share.

1. The Living Room
2. Acknowledging the Person Who Referred
3. Martian Land
4. The Ultimate Scenario
5. Guide Them
6. The Nine Boxes
7. World-Class Updates
8. Team Involvement
9. Flow Chart
10. Relax

1. The Living Room

      My client-care-coordinator confirms the appointment earlier that day, to make
       sure they're coming and to remind them what they need to bring.

       "Hi, this is Christie from Mortgage Plus. I'm calling to confirm your
       appointment with Rene today at 2:00. 1 wanted to make sure you know how
       to get here and that you know what you need to bring. Is there anything
       special that you like to drink? I'd like to make sure you're comfortable when
       you come in and to see that we're prepared."

      Makes them feel comfortable and appreciated, and let's them know we value

      They have their name on the marquee and everybody knows they're coming

      Escort them into the 'Living Room."
       They enter the 'living room' through French Doors in the front part of our
       office. There's a big, fluffy couch. Behind it is a picture of a front door, like a
       dream house. There's a chair, a TV, a VCR, and a coffee table. On the wall,
       there's a series of picture frames of different sizes. They contain the different
       By Referral Only philosophies, which I go over in the consultation. There's
       also a photo album with different cards and letters that people have sent in
       about their experience working with Mortgage Plus. On the coffee table,
       there's a sign that says, "Mortgage Plus wants to welcome you. We look
       forward to helping you with your financing needs." On the coffee table is their
       favorite drink. Even if they don't want a drink, we'll have a glass of water. If
       it's in the morning, we'll have muffins and fruit. In the afternoon, we'll have
       crackers and cheeses. We have different menus for different times of the
       year. It makes clients feel comfortable, like being at home.

      I let them sit there for about 10 minutes, just to feel the room, look around,
       look at the photo album, have something to eat and drink, and then I come

2. Acknowledging the Person Who Referred

      Beginning Dialogue when I come into the Living Room:

       ME: "Before we get started, I want to congratulate you for taking the first
       step towards buying a home of your own or refinancing to improve your
       financial situation (depending on the circumstances). Did you have a chance
       to read The By Referral Only Compass?" (A copy is on the coffee table.)

       CLIENT: "Yes."

       ME: 'This is the way that I run my business, and I want to make sure you
       understand. Do you have any questions?'

       CLIENT: "Oh no, this is great."

       ME: "Mr. and Mrs. Client, I want to let you know that your friend, Mike,
       referred you to me because I work by referral only. He knows that if he sends
       you to see me, I'm going to take good care of you. I'm here to serve you and
       make sure that you understand, every step of the way, what's going to

       CLIENT: "Oh yes. He told me all about you, told me what you did, how you
       helped him get into a house with no money down."

      Talking about the person who referred them reinforces the fact that this is not
       just any loan officer. I am somebody who was referred to them. People can
       forget that fact, if you don't remind them.

3. Martian Land

Since we are always doing loans and talking loan language, and they're only doing it
once every four or five years, it's like landing on Mars. There's a whole new language
that we speak.

A Picture of Marvin the Martian is on the wall ...

       "Buying a home can be confusing at times. Welcome to Martian land. You've
       landed on a different planet. We speak a different language. Some of the
       words I use are not common to you, like APR, interest rates, loan to value.
       You may not know what they mean. So if there's anything you don't
       understand, please feel free to ask. Our golden rule at Mortgage Plus is that
       no question is stupid."

4. The Ultimate Scenario

On my business cards it says, 'Adding value to your life.' My focus is to add value to
their life.

I want to make sure they know what they want and why they need me. This leads
into my ultimate scenario form.

       ME: "What is your main goal here today? Mat is it you're trying to

       CLIENT: "Well, we want to buy a house."

       ME: 'Okay, why is that so important to you?"

       CLIENT; "Well, we're renting right now and our landlord keeps raising our rent
       and we're fighting with our neighbors all the time..."

       (Then we just dig and dig until I know exactly what it is that they really

Or for a refinance:

       CLIENT: "I want to lower my payment."

       ME: "Why do you want to lower your payment? Why is that so important to

       CLIENT. "My mother just passed away and now I have all this debt that I've
       got to pay off. I've used all my credit cards."

       (These techniques get me closer to them to make sure that they know I'm
       here to help them.)

Or a purchase:

       ME: "For the next 30, 60, 90 days, or however long it takes to get you into
       the house, we're going to be partners. As your partner, what do you want
       from me? What's important to you?"

       CLIENT: "What do you mean?"

       ME: "Do you want me to call you every day and let you know how your loan's
       going? Do you want to know what the rates are every day?"

      I want them to make a commitment to me to be honest about exactly what
       they want. In return, I'm honest with them. When that happens, we can build
       a lifetime relationship.
       ME: "If we were going into business together as partners, what would you
       look for in a partner? What kind of personality traits would you look for? I'd
       want somebody who's honest and told me everything."

      Their answers tell me what kind of person I'm working with and if our values
       This is a very different process than what they probably had in mind when
       they walked in the door.

       ME: "What are your birth dates and your anniversary date? What are your
       favorite foods? What is your favorite beverage?"

       CLIENT: "My are you asking me these questions?"

       ME: "Because I work by referral only and if you're happy with me, you're
       going to refer me to people just like you, and I will want to reward you."

       CLIENT: "Oh, okay. Here's my birth date. Forget tacos. I like steak."

5. Guide Them

The purpose of these questions is to make sure that I'm crystal clear on what your
needs, wants and goals are. We're forming a partnership. You need to tell me
everything and be honest, because that's the way I'm going to be able to get you the
best loan.

      You need to know everything.
      I let them know we're going to help them. If I can't get them a loan today,
       I'm going to give them a path to get one tomorrow.
      I'm going to counsel them on their credit issues. There are lots of loans
       available for people without perfect credit.
      I'm not here to judge them in any way. I'm here to help them.

6. The Nine Boxes

"I want to make sure that you not only get the loan you want, but that your
experience is pleasurable. If you're happy with the loan and you're happy with the
process you went through to get the loan, then you're going to become an advocate
and you're going to refer me people just like you. I need your help to do this. If I
don't do a good job for you, you're not going to refer me anybody. And if you don't
refer me anybody, I'm not going to have a business to run. So I'm really dependent
upon you. I've got to make sure I do a good job".

"Because of people like you, I'm able to spend this time with you to help you achieve
your goals. And I depend on your referrals. Otherwise, I have to search for clients
instead of doing what I do best, and that's being here working for you. I'd much
rather work for you."

      Change the role from them feeling like they're trying to get a loan to they're
       here to have me help them.
      On the wall I have the laminated By Referral Only "The Total Experience
       Scoreboard" in a big 2 foot by 5 foot frame with smaller 8 inch by 10 inch
       frames within it. In one of them is my referral tree. In another I have a
       picture with me and a client that says, "Adding Value To Your Life." The
       Martian is in another, and the reticular activator in another.

      It's like a painting on the wall, part of the living room, a piece of art, the art
       of referral.

7. World-Class Updates

'You're going to get a green postcard in the mail. It's called our 'World-Class Update.'
On it is your own private 800 number. You can call anytime and get updated on your
loan. During the day, while you're at work and you've got a lot going on, you might
think, 'Oh, I forgot to call and see if my loan got approved today or if I got the
appraisal.' This number gives you the opportunity to call in after hours, anytime, and
get an update on your loan. It also gives us a way to communicate with you. You're
also free to call in anytime and talk to us.'

      In the beginning, people weren't using the 800 number. Then I added it to my
       presentation. Now they look out for that green card.

      We also gave them laminated business cards with their 800 number and
       extension on them.

      My customer-care coordinator updates it twice a week, Mondays and
       Thursdays. It takes her about a half an hour to update about 20 mailboxes.

      We also update the Realtors if they're purchasing using a Realtor. Realtors
       have one extension for all of their borrowers.

      We include a short infomercial at the end asking for referrals.

       "Thank you for calling the World-Class Update. At this time, your loan has
       been submitted for approval. We anticipate having an answer from the
       underwriter on Wednesday. Once we do, we'll give you a call and let you
       know if there's anything else we're going to need. By the way, if you happen
       to know of anybody at your office who's thinking about buying a house,
       please make sure you refer them to us."

8. Team Involvement

We take photographs of each person on the team, with a short biography- who they
are, and what their background is, and what they're going to do throughout the
process of the loan.

"Shannon's your processor. She'll be the one you're talking to most of the time about
gathering your paperwork and getting your credit report. Melody's your client-care
coordinator. She'll be calling you from time to time to make sure everything's okay.
She's the one who updates you on the World-Class Updates. If there's anything you
need, you can call her. And then Christie..."
      This eliminates a phone call coming to me. They usually see that they need
       somebody on my team instead of wanting me all the time.

      By the time the loan is complete, clients have built a nice relationship with all
       the members of the team.

9. Flow Chart

The flow chart shows how a loan works. I indicate how long the process in each box
normally takes.

"From time to time, I'm going to ask you to pull this out and I'm going to tell you,
'Look at box number 4. This is where we're at...' "

      Pre-qualification/Consultation.

       "This is where we begin. We have to go through all these boxes to get to the

      Order documents

       "Now we know what kind of loan you're going to be getting, so now the loan
       goes into process. At that point, we order your credit report, verify your
       employment, your bank accounts, and order the appraisal and title report.
       We're ordering everything."

      Documentation.

       "Once everything comes in, we review all the documents to make sure that if
       you said you made $1,800 a month, you really do make $1,800 a month, and
       that the appraisal comes in where you thought it would."

      Loan submission.

       "At that point, we submit it to the lender, so the loan goes through to the
       underwriter for an approval."

      I Let them know ahead of time what's going to happen.

10. Sit Back and Relax

Once we've gone over the whole consultation, and they know we're going to work
together and how it's all going to happen, we're ready to do the paperwork.

We haven't done any paperwork or anything at this point. We've just gotten to know
each other.

I take them from the "Living Room" into my office and we do the application.

"I handle all the details, so you don't have to. All you have to do now is sit back and
relax. I'm going to ask you some questions and fill out all of these forms for you.
There's no documentation that you have to complete now. I'm going to do it all. At
the end, I’ll ask you to sign the necessary forms."

      I never let a client fill out a loan application. The whole process takes about
       an hour.

      I take five to ten applications a week, usually in two hour increments. After
       the consultation, my assistant sometimes takes the application.

      I'm trying to work it so that I'm not so much into the day-to-day application

      Delegate until it's systemized.