This is the final of six articles in a series on how to market your promise of service differently. If your marketing is going unnoticed by agents, read my articles closely as I'll share explicit ideas on how to stand out and be recognized.
The first article in the series introduced the five promotional opportunities that exist within the loan application process and the three major players to differentiate your promise. Click here to read in its entirety.
The second article completed the first promotional stage - At Loan Application - that included your introduction to the Seller's Agent and how to plant golden seeds with the borrower. Click here to read in its entirety.
The fourth article described the third promotional stage - Prior to Closing, and your final chance to prevent catastrophes before close of escrow and the marketing opportunities with the Seller's and Buyer's Agent. Click here to read in its entirety.
Today's article describes the fifth promotional stage - Post Closing, and solves the mystery on how to produce referrals and repeat business from happy clients, as well as, your campaign to the Buyer's & Seller's agent.
Stage 5: Post Closing
Yippie...you're heading back to the office after attending your closing with some referrals in hand. Even the Buyer's Agent, who bothered to attend from your encouragement, witnessed the value of your skills. Afterward of course, you scheduled an appointment with him or her to discuss working together.
Those are some great accomplishments, but that's just the beginning. Take a moment and reflect on your "post sale" marketing campaigns. How do you keep contact with your clients and agents so you reap the benefits of referrals and repeat business? If you're not doing anything, guess what? You can't expect endless referrals to show up on your doorstep.
The Borrower's Post Closing Campaign
When you consider your marketing budget, where is the greatest percentage of it spent? Hopefully, not advertising. Why? Because you're spending too much money on reaching strangers, people who don't know you.
Your best investment is your clients. But for some reason it's difficult to comprehend. Believe me, for years I made the same mistake. My marketing budget was spent on turning strangers into friends. Then finally one day after bumping my head, I realized that the more you invest into your clients, the more they'll return the favor.
So what about a campaign, something that keeps you in touch and produces endless referrals? My recommendation is built around a single principle - People don't care how much you know, until they know how much you care. How will you communicate using this principle? Simple...with greeting cards.
Greeting cards add a personal touch of class. Here are some suggestions:
- Birthdays
- Anniversaries
- House Anniversaries
- Thanksgiving
The reason for Thanksgiving is that your card beats the holiday rush so it stands out. The house anniversary is an untapped opportunity that connects emotionally. But here's the kicker with greeting cards. Never ask for a referral, only write kind remarks, that's it. Let the cards serve their purpose - to build rapport and trust. Greeting cards are like deposits in a bank account, and when there's a heap, you can afford some withdrawals from time to time. Withdrawals come in the form of sending a postcard every quarter. Think of it as sending a giant business card that they'll give to a friend. It's a postcard showing the client you're prepared to serve their needs or anyone they recommend your services.
The Buyer's & Seller's Agent
Now that you have a campaign for clients, let's focus on the agents. At the closing table, assuming the Buyer's Agent attended, you'd schedule a follow-up appointment. That's pretty simple, unless it's an agent you don't want to form long-term relations.
On the other hand, the Seller's Agent has been receiving written communication from you. Just to quickly refresh, each time you communicate with the borrower during the five stages, you cover copy both agents so they experience your high frequency of contact. This is critically important because when agents have been questioned about their difficulties with loan officers, the top two are - loans not closing on time and poor or no communication.
In the post closing stage, you want to follow up with the Seller's Agent. For instance, you can send a letter that you'll be contacting them by phone to schedule time to meet. Or you can skip the letter and directly contact them by phone. Either way, follow up with the agent immediately after the loan has closed, because if it was a smooth and successful transaction, they may be interested in learning more about your services.
Finally, with both agents in your database, send your monthly electronic newsletter, just like this one. A newsletter communicates more than information - it shapes powerful perceptions. It's how agents recognize you as an expert. And once that happens, soliciting agents becomes a thing of the past, because they're chasing you.
Thanks for support,
Jeff Nelson
Salesachievers
Helping loan officers attract more clients
© 2004, 2005 by Jeff Nelson
All rights reserved
