| January 2008 | The New Quick Mortgage Minute Weekly Newsletter for Your Business! |
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Dear Sam, I hired a personal mortgage sales coach! Just like the pro
athletes have a professional coach to help them excel in their
profession, I decided I needed a coach to help me in mine. I have
high aspirations for myself this year and took a leap of faith to help
me with this because I am not satisfied with my current income level or
lifestyle and starting in August, I am going to have 2 kids in
college. I know I can do better and decided that now was the time to
start.
Why am I telling you this? Because I want you to know that I am doing everything I can to be a better Mortgage Advisor for you and your business. This includes how I build rapport, how I push myself and my processors, how I manage my time and expenses and how I communicate with my borrowers AND the realtors that I support. Also, like everything I do, I thought the training would help me become better at helping you in your chosen profession. So, if you will allow me, I want to share my training with you. You can think of me as your personal coach if you want. Just let me know if you want me to do some 1:1 coaching and I'll share what I've learned with you so we can both excel this year! Sam Thompson, Senior Mortgage Advisor
Mortgage Services, PHH Mortgage
Don't forget about the neat trophy "Thinking
Outside the Box" that I am giving away to the one with the best
creative comment to help me serve you better!! Ends soon!
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Logical Refinancing Considerations |
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 Since rates have dropped to 4 year lows, should your consider refinancing your mortgage? My rule is to see how much the the monthly payment will drop and if you can offset the closing costs within 3 years for a basic rate and term refi with your monthly savings then do it and let me help you. Or if you have some equity in your home and if you have other credit card debt, etc., that you could pay off with a cashout refi, we can look at a 95% LTV (based on a new appraisal) FHA refi up to around $200,160 for most areas of the country. For a conventional cashout, we can go up to 90% LTV up to $417K or explore your options if you need a non-conforming jumbo loan. If you can do this, you can greatly improve your monthly cashflow, get out of high interest credit debt and get a very low, tax deductible, rate mortgage. The estimated savings for a 1% drop in rate at today's low rates from around 6.50% to 5.5% is around $64/mo for every $100K in loan amount or can be several hundred dollars per month by paying off credit card debt that the FED is hoping we all start doing. Also, if you can get out of an adjustable rate (ARM) mortgage or eliminate private mortgage insurance (PMI) then those are very good reasons to consider a refi too. But, don't forget about the term. You don't want to add several years to your loan either unless it makes good "cents." If you are just trying to reduce your term, other options might be considered like paying a little extra per month or by making an extra payment/year that can cut a 30 year mortgage by around 7 yrs. We are very good at analyzing these scenarios and would love to help you in deciding if a refi is right for you and we won't badger you into it! And don't forget about our special agent discounts!! We love refis and in taking care of our agents!! |
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My brands* that I represent are:     Want to jazz up your website? Add the "get approved"
graphic below and then put my website link in the properties of the
image as follows. Call me if you need help with this.
 *Any time I am working with your client, if you are under a specific brand, I am projecting your brand logo in all that I say and do as do my colleagues. |
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Weekly Tip - Rapport Building. Step 1 in any successful sales. |
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 Here are six steps to help you in your rapport building that is accomplished when "you" feel comfortable with your prospect. Once this feeling comes across, it comes across to them too, if they are human. Here are the steps. 1. If you are on the phone, you should obviously introduce yourself and ask if it is a good time to talk. 2. Very briefly, ask about their situation and what they want to accomplish. 3. Now is the time to get them to like you by asking personal questions to get to know them and to find things you have in common. While doing this, look for genuine reasons to complement them. Example questions would be to learn about where they work, where they live and where they grew up, about their family and especially their children, about their friends, their jobs, their hobbies, etc.) 4. Now give the prospect the opportunity to know you by opening up to them some too without dominating the conversation. 5. Then ask if there are any questions that you can answer or anything else they want to share. 6. Thank them for the opportunity to get to know them as well as the opportunity to tell them about you. Also, point out that this information will help you find the right fit for them as you go forward for a lifetime, not just one transaction.
Like in all sales, rapport building
has to come first and always remember to pause to let them do most of
the talking. Remember that God gave you 2 ears and one mouth so try to
talk half as much as you listen to them.
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Weekly Mortgage Commentary Snippet |
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NFL Super Bowl XLII Contest Standings! | |
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Contest Standings for my Super Bowl Challenge!*  As the New England Patriots and the New York Giants prepare for the Super Bowl next Sunday, I did some analysis to see who can still win my contest..
If the New York Giants win, it depends on the final score between the following realtors that will have 11 points as follows:
So if the score is 36 or below, Ken
is the winner and if the score is 37 or above, Sally is the winner if NY pulls off another upset.
It's more
fun watching the playoffs when you have your own goal to reach isn't
it? Same goes for your business. Have you set your goals for the year
yet?
*Winner gets to go on a $50 shopping spree with me at the local retailer or gas station of their choice with me picking up the tab! Good Luck! You'll have to keep reading my emails to see who's the winner. Hopefully it will be you! Thanks for reading my emails and please do not hestitate to call me if I can help you or your buyer achieve the American Dream! |
