Articles

5 Things you Can Do Right Now to Jump Start Your Business

Written By: Karen Deis

The holidays are traditionally slower times for home sales. The refinance business usually picks up after the first of the year - when people realize what they spent over the holidays.

For the next 45 days, why not concentrate on next year's business and be ready to go on January 2 with your marketing plan in place for the next quarter.

Here are 5 things you can do right now.

#1 - Update Your Database

It will be next to impossible to do the next 4 things unless your database is up to date. Gather all your closed loan files and make sure you not only have the names and addresses updated, but also the loan type, interest rate, term of the loan, appraisal value, name of the lender (if the loan has been sold), names of real estate agents (if purchase), appraiser and insurance agent. If you don't have the time, hire a high school or college student to enter the data for you. Even if you have to use Outlook or Excel for now - you have got to start sometime and both formats will easily import to database systems.

#2 - HUD 1 Statements

Pull the HUD 1 statements from all of the loans you closed this year. Copy each one of them and send along with a note or letter that says they should give this to their accountant or tax preparer to check for additional deductions on their tax returns. Address the envelopes, with stamps, and have them ready to mail out on January 2.

#3 - Plan Seminars for the Next Quarter

January, February and March are absolutely the best times of the year to hold home buying seminars. Right now is the time to pick the dates (Tuesdays are usually best), location and content/topic. Maybe in January, hold a 1st time home buying seminar; February, a new construction seminar; and March, a For Sale By Owner seminar. Create the advertising layout and marketing piece for each seminar. It takes some planning to hold seminars and by having them set up in advance you will have plenty of marketing time to market it effectively to get the highest number of people to attend.

#4 - Corporate Benefits Marketing

This type of marketing is your ticket to getting corporations and associations to endorse you as their preferred lender. Start the process of developing a list of benefits, with discounts from your appraisers, title companies, real estate attorneys, etc. Set up your network of real estate agents who will pay either the seller's or buyer's closing costs as part of the deal. This process could take you about 2 weeks to set up, but the beauty of the program is that once you have it setup, you can use it forever (I suggest tweaking this every year). In addition to offering this to corporate accounts, consider providing it to labor unions, teachers, firemen, policemen, church groups, clubs that you belong to...the list of groups is endless. All you need to do is change the name of the benefits program. (Read the article entitled, "An Easy Corporate Referral System That is Guaranteed to Get You Business Regardless of Interest Rates".

#5 - Financial Fitness Check-up

The first quarter of the year is a great time to re-connect with past clients by sending them a Financial Fitness Form in the mail. This is the time of year they are getting their paperwork together to file their tax returns. Read the article and download the Financial Fitness Forms. The timing is perfect because the form asks a series of questions that gets them thinking about their financial future.

(Purchase the Financial Fitness Marketing System for $59.00.)

LoanOfficerMagazine.com Subscribers can download it FREE!

Start with updating your database. Set up an appointment with yourself, and actually mark the appointment times in your calendar. If you have a large database to update, allocate an hour a day for the next few weeks. If you are planning to hire someone to help you, again, set up the appointment with yourself to find someone by making phone calls to the local college, high school or family or friends who might be interested in some extra income.

By planning ahead, you won't make mistakes or spend extra money because of last minute planning.

By planning ahead, you will be able to see the big picture and ways to cross-market your services.

By planning ahead, you will breathe easier knowing that you have a working plan for next year.

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