Billion Dollar “Mortgage Marketing” Bracket

If you have been reading our blog for very long, you know that I have referred to Quicken Loans a few times discussing a few of their marketing ideas. The reason that I mention them from time to time is because they stand out more than anyone else on a national level when you think about mortgage lenders.  And… the fact is, they are pretty good at it.

If you work for Quicken, you know that they have a great marketing department and deep pockets when it comes to trying to generate leads for their staff.Billion-Dollar-Bracket1

Quicken has now decided to jump in to my favorite part of the year… March Madness!

Everyone has been talking about how Warren Buffet is offering the Billion Dollar Bracket for anyone who guesses the outcome of every game in the NCAA tournament.

But, what you may not have noticed is that Quicken Loans is heavily involved and have turned a basketball tournament into a mortgage lead generation opportunity.

I quickly found when logging onto the contest site to submit my bracket, that my opportunity to win a billion dollars was actually adding me to Quicken’s mailing list. In fact, the form itself asked me if I owned a home, what my current interest rate was, or if I wanted to buy a home.

This is a very cool idea and with the millions of people that submitted their brackets, I would love to know how many of these entry’s will actually turn into a loan for Quicken.

bracket formThey will probably never release this info, but the publicity that they are getting throughout this month is almost priceless.

Whether you like Quicken or not, their marketing is always entertaining and original.

You may not be able to do something of this size with your mortgage marketing budget, but you can certainly employ the direct marketing techniques that Quicken has done.

Here are a few ways that you can use Direct Marketing in your mortgage business:

1.)    Run your own contest on Facebook. You don’t have to give away a billion bucks, but maybe you could run a contest and give away a gift card of some type for the winner.  Use a similar “opt in” form for people to enter and ask them if they own a home, etc.

2.)    Use your blog, Facebook page,or Linkedin Profile to offer a Free List of foreclosed homes. If they want access, have them complete a short form with your autoresponder and continue to  market to them via email long after you have sent out your list of homes.

3.)    You can also use your print ads to advertise your offer.  Offer that list of homes or a free e-report on how they can buy a home with $0 down.

Be creative with your mortgage marketing and you will start to see some fresh deals starting to fill your pipeline.

Good luck with your Billion Dollar Brackets, and your Mortgage Lead Generation!  : )



Close Loans… You Must!

Close More Loans… You Must!

Who doesn’t love the energy of Yoda when he is battling the forces of the dark side in the Star Wars movies.  We all love to see the little guy or the underdog win, right?

Although Yoda had the Jedi Force on his side, it was still fun to watch this little 3 foot tall green guy compete in against the bigger, better equipped foes.

What does this have to do with being a loan officer?

Great question.

If you work for a small mortgage company, or have a small marketing budget then you may feel like the underdog when you go into local real estate offices.  Larger companies, with 5 figure Marketing Agreements may be intimidating for you – causing you to miss out on some great Realtor Referrals.

It is time to fight back!

You can’t back down just because the receptionist stands in front of the brokerage door with a light saber.  It is up to you to get creative, and figure out how to get past the gate keeper.

But, how do you do that without making people mad or becoming an unwanted pest.

You don’t want to be the Loan Officer that everyone hides from when they see you coming.

It may not be possible for you to drop off your flyers in certain offices, but you may be able to team up with agents within that office on an individual basis.

Oftentimes, the broker has a marketing agreement with another mortgage company but the agents may still have the flexibility to refer their buyers to the LO of their choice.

1.)    Send a note of introduction with a few business cards

2.)    Prepare some Open House Flyers for that specific agent and their listings and send them to them directly

3.)    Network with the agents outside of the office. Join the local Board of Realtors and support their causes.

4.)    Offer to educate the agents on special loan programs that you have available. Send them a Niche Program Flyer and tell them about what makes you different.

5.)    Add them as Friends and contacts on Facebook, Twitter, Linkedin, and Google +

6.)    Present yourself on the Social Networks as the mortgage expert.

7.)    Be consistent with your efforts, and look for original ways to reach out them.

8.)    Consider using Zillow to partner with them… Click Here to learn how.

Continue to follow the tips outlined on the Ultimate Loan Officer website and… Close Loans, You Will!

Loan Officer Marketing Distractions…

If you have been reading Ultimate Loan for long then you know that I am a huge fan of all kinds of mortgage marketing strategies.  And, having a wide array of marketing happening at one time can do great things for your origination business.

Unfortunately, if you don’t have a lot of these marketing strategies on auto pilot then it will do your business more harm than good.  In fact, if you continue to “dabble” with dozens of strategies, but never FULLY IMPLEMENT them, then unfortunately these otherwise powerful marketing ideas can become a huge distraction for you and take your energy away from the most important part of a loan officer’s world – originating new mortgage deals.

One of my favorite sales books is the Millionaire Real Estate Agent written by Gary Keller, founder of Keller Williams Real Estate.  This book is a great book for real estate agents, but it also has a lot of great crossover marketing techniques that can work for Loan Officers too.

The reason that I mention Keller is because he has a new book out entitled “The One Thing” that I picked up this week at a KW office while I was out prospecting.

The book is an interesting read about focusing on the ONE – most important – skill, ability, or technique that your business can not live without.  Once you have identified it then you put ALL of your effort into making the most of that piece of your business. Once it is perfected… then you move on to the next one and do the same thing with it.

Using this approach, you can systematically build your mortgage business into a well oiled origination machine.

It all starts with FOCUS and figuring out what you need the most in your business.

To maximize your income this year… eliminate the distractions around you.

Best of luck!


 Click Here To Learn How To Get Realtor Referrals On Zillow!