| June 2008 | The New Quick Mortgage Minute Weekly Newsletter for Your Business! |
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Dear Sam, The Buyers Are Back!
The 41% May home sales increase in the Northeastern US affirms what the experts say, that the housing market bottomed at the end of April. The National Association of Realtors' (NAR) pending home sales index increased 5.2 percent in April. It is the highest pending home sales index since October 2007. The U.S. Census Bureau reported an 8.2 percent increase in overall housing starts for April. Warren Buffet, respondents of the American Express Wealth in America survey and the Wall Street Journal (WSJ) all said, now is the time to buy. Sharp home sales price reductions and reasonable mortgage rates have resulted in bargain hunters entering the market en masse, especially in areas that had double-digit price declines, said Lawrence Yun, chief economist for the NAR. The WSJ said because the inventory of available housing is falling and should be around five months in the first quarter of '09, prices and sales should rise. Check out this Report - Click Here Now's the time to get out and let your folks know that the time for waiting is over and time to act is now! Use these statistics and quotes in your emails and ads and promote, promote, promote! Sam Thompson, Senior Mortgage Advisor
Mortgage Services, PHH Mortgage
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Past Clients are the Best Clients! | |
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 Einstein probably never taught this but
I am sure he knew it...
Are
you staying in touch with past clients? If not, how are you trying to
grow your business? I am not doing this like I should either. The
truth is, there are not enough hours in the day to do everything we
should be doing but this one thing is something that should be at the
top of our list and I am putting it on mine.
Here's why! These past clients, for various reasons, hit it off with you and became a homeowner or home seller because of you and if you did your job right, they have been very happy with what you helped them accomplish. So, they are going to have strong and happy feelings for you and they are going to be happy to hear from you again. Also, because of this staying in contact, they are going to call you if they ever need your services again and they are more likely to refer you to their family and friends too. So, why not stay in touch with them? Here are some good times to call them...
On
any of these calls AND while you are working with them before they
close, always ask if they know anyone you can call that might be moving
soon or selling their home soon no matter where they may live.
(Remember those referrals to other agents add up!) Asking for
referrals is the key to making this work so you are going to have a
steady stream of 3rd-party referrals so your business is going to grow
more and more each year you stay in real estate. 3rd-party referrals
already are sold on you so they are much better than the ones that
called while you were on call, etc. and are usually better quality buyers too! |
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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 - Fine Dining Prospecting! | |
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 Peace to you too!
Do you have any family or friends that work in fine
dining restaurants? Do you have a good relationship with some folks at
some restaurants that you eat at frequently? Well, do they know how
important direct referrals are to your business?
Here's the main question; do any of these restaurants have real estate books in them?
If they do, then, those are the ones that have potential to be a goldmine of referrals for you!
Just let your referral source know that you would love to help anyone that they see looking through the real estate books or talking about buying or selling a house
while waiting for a table or waiting for their food to come. Just say,
"If you ever see a customer looking through a real estate book or hear
them talking about real estate, please mention my name and ask them to
call me for a great realtor choice! I love referrals!" Don't assume
your friends know this.
I recently hear a broker say his neighbor and good friend listed his home with another realtor and when he asked him why, he said that he did not think he wanted to list it for him. Both knew about the impending move and either made the first move... Since the seller never got a call about listing it from the broker, he picked up the phone and called another agent thinking the neighbor didn't want to intrude or to be bothered... You know what they say about assuming things! Anyway, back to the restaurant sources; these guys can be your best referral sources for years to come if you will take the first step and talk to them!!
Also, in addition to asking for referrals, make sure
to give them plenty of your business cards too! You can even write a
note on the back to remind them "thanks for the referral!"
One
last thought on this. Remember that if you get any leads from this
source, they are likely to be a better quality lead because they can
afford to eat at a fine dining restaurant. The finer the restaurant,
the better!!
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Weekly Mortgage Commentary Snippet | |
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Rate Lock Advisory - Sunday Jun. 15th  This week is moderately busy with four economic reports scheduled to be released. Only one of the four is considered to be of high importance to the markets and mortgage rates. The remaining three are of interest to the markets but likely will not cause a large change in mortgage rates unless they vary greatly from forecasts. The first report of the week is also the most important. May's Producer Price Index (PPI) will be posted early Tuesday morning. It helps us measure inflationary pressures at the producer level of the economy and is the sister report to last week's Consumer Price Index (CPI). |
