STRATEGY ALERT:

Dan Green Increases His March Business 37% by Turning to Existing Clients

We are in a market today where nearly 100,000 out of 475,000 loan officers are losing business. Yet, Dan Green, mortgage planner with Mobium Mortgage Group of Chicago, who manages 141 loans equaling $50 million in production after just three years in the business — recently had one of his best months ever.

Green shields his business from the shrinking refi market fallout and the subprime meltdown by turning to the clients who already trust and believe in him.

In this latest Strategy Alert, Dan details how he generated 11 new loans — 70 percent of his March, 2007 business — from past customers. And he has a past customer pull through rate of 20% compared with 5% for the average loan officer.

He considers his secret weapon the ability to educate his clients in a way that his competitors can’t. “The Mortgage Coach allows me to communicate with my clients on a completely different financial level,” he says. “I promise my clients that they will never walk out of an appointment and not ‘get it’.”

But it’s not just about educating the client in the office, he explains. It’s about empowering them to take the education home. “I’ll have a terrific appointment. But, perhaps I was only meeting first with the husband, then he goes home and tries to explain complex mortgage concepts to his wife. Using the Total Cost Analysis or the Rent vs. Own report from Mortgage Coach, the entire family can grasp the powerful concepts of mortgage planning. When my clients understand why we’re structuring debt a certain way, they begin to connect to the mortgage planning concept. In reality, they are connecting with me.”

Key takeaways from this call:

• Mortgage Coach reports empower the homeowner to understand their options and explain them to their spouses, exuding trust that relates directly back to the mortgage planner;
• They also help borrowers stick to their goals and give them a course of action to follow;
• They teach homeowners that they have options for how they want to reach their freedom point (it’s not always about paying off the loan);
• They show customers the value of liquidity (“We sell people on the idea of being prepared for when things go wrong”);

The bottom line: “I’ve been able to use The Mortgage Coach as a way to get deeper in my clients’ financial worlds. That builds a ton of trust,” Green says. “Now, when my clients are with their friends and family and anything real estate-related comes up, my “Raving Fan” clients suddenly become the greatest marketers I could ever hope for: ‘You’ve got to call Dan Green — Dan understands how to use home loans to help you reach your short- and long-term financial goals.’”

Dan is able to accomplish both of these goals by building long-term relationships with his existing clients using the Mortgage Coach reports.

Listen to Dan Green’s insights and ideas in this Strategy Alert and start generating new loans within the next 30 days.

Check out Dan’s award-winning mortgage blog:
http://www.themortgagereports.com

Get your own “written-for-you” mortgage blog from Bring the Blog. The Mortgage Coach users get $200 off annually (PROMO CODE: TMC-FP) and a 15-Day Risk-Free Trial.
http://www.bringtheblog.com

If you have a question for Dan Green:
dan@dangreenteam.com

Comments

[Dan Green]

Thanks, Dave! It was terrific to have this call with you.

[John Michailidis]

I've been following Dan's blog for several months and based on the quality of the content it is no wonder that his past clients keep coming back for more.

[Brian Brady]

Dan's a great weblogger and this was an excellent strategy review.

[Kirk]

If you're not using Mortgage Coach, you need to talk to them today. When I first started using it, I immediately saw an increase in production due to the presentation I was able to give.
More importantly though is what Dan mentions about gaining raving fans. I worked with one gentleman, who sent me to his brother for a purchase, and his aunt for a refi.
You don't just get your money's worth with Mortgage Coach, you can earn much more while giving better value to your client and being able to convey the value more easily.