Savage Insights

7 new loans yesterday. 17 loans taken over the past 3 days. 38 loans approved so far in December. And to top it off ... He has 25 leads he hasn't even had the time to follow up on!

Who says you can’t be a powerhouse success story in this market?

If you’re looking for inspiration to find the “half-full glass” in today’s marketplace, you don’t need to look any further than Jeremy Forcier of California Mortgage Advisors. With 17 loans taken in 3 days and already 38 loans approved for the month of December despite the difficult times, how could anyone not be inspired by this story?   

Not to mention, Jeremy has only been a loan officer for three years.

Jeremy has several innovative ideas that are driving his success. One of the biggest secrets to his success is that his clients trust him so much that they are giving him written permission in advance to lock them into a refi rate when the opportunity presents itself for that client to benefit from existing market conditions.

By regularly managing his database, Jeremy was able to uncover a hidden opportunity for this client and lock in a rate on a refi loan that helped them save a considerable amount on their principal. Showing the benefits of the new loan in direct comparison to other appropriate loans, generated unquestioning trust helped Jeremy close the deal.

KEY TAKEAWAYS FROM THIS CALL:

• Learn how Jeremy is mining his database in today’s marketplace.
• He knows up front that almost everyone is going to rate shop — but learn his keys to avoiding it. Hear how he stops customers from rate shopping and wins 97% of the time.
• He shows customers how choosing the lowest rate with the wrong fit and wrong loan amount can cost them hundreds of thousands of dollars over the life of their loan.
• Learn the critical first question that Jeremy opens every loan appointment with.

Jeremy Forcier is a mortgage professional who is consistently hitting it out of the park at a time when many other loan officers are not even motivated enough to step up to the plate. Because of his masterful focus on the right strategies, he’s achieving great success. Jeremy is an awesome role model for all LOs.   

Click on the player below to listen to this interview between Dave Savage and Jeremy Forcier.

or you can download grab the 32Mb file here

Click here to download the sample of the report and proposal that he gives to every client before he quotes a rate.

Click here if you would like to contact Jeremy with questions.

CASE STUDY: How Scott Nicholson Helped a Realtor Sell A Home That Had Gone Cold With a Seller Buydown Strategy

Scott Nicholson of South Pacific Financial in Brea, California has a failsafe method for selling houses that have gone cold.

BIG IDEA:
Increase Commissions With a Seller Buydown strategy
Scott recently conducted a seller buydown that saved a buyer $1,444 per month, compared with a $30,000 price reduction that would have only saved the buyer $150 a month. In this call, Scott reveals how he structured the deal.

THE CHALLENGE:
This home had been on the market for 7 months. The seller had already reduced the purchase price by $75,000 and was getting ready to reduce the price by another $30,000.

THE SOLUTION:
With Scott’s unique seller buydown strategy and the way he packaged it, they were able to sell the home in just two weeks. In addition, by applying the $30,000 to a buydown rather than a price reduction, the Realtor was able to sell the home quickly and double-end it in the process. In this type of scenario, everybody wins. Scott won new referrals by bringing innovation and leadership to his Realtor. The seller sold the house without a price reduction; and the buyers saved $1,319 a month, which allowed them to afford a home they might not have been able to otherwise.

KEY TAKEAWAYS FROM THIS CASE STUDY:

• Learn how Scott started by calling on a realtor partner who trusted his advice. This helped him get a face to face meeting and present his idea.
• Learn how Scott packaged a presentation for a specific listing that wasn’t selling, Scott showed the realtor how he could save the buyer 8 times more money per month over a price reduction — a $1,444 savings — without sacrificing the selling price or the realtor commission.
• The net result: the house sold within days using Scott’s buydown strategy.
• In addition the buyer benefited from the tax deduction of being able to write off the prepaid points to buy down the interest rate.
• See examples of Scott’s brochure and strategy in the accompanying PDF. You can follow along and see the difference in the three options he presents in the Total Cost Analysis report and hear why the third option is the clear winner. 

With Scott’s strategy, you’ll be able to help Realtors sell more homes faster during a challenging marketplace, resulting in new commissions for yourself and your Realtor partners. In addition, buyers’ agents can also use this strategy to help their home buyers purchase homes that they previously would have been unable to afford. It also increases the cash in the homeowner’s pocket with the significant tax benefit of having the seller pay for the buydown.

Bottom line: In a marketplace where success doesn’t come easily, this strategy will give you the ability to have more control. Master this strategy and start controlling tomorrow’s success today.

Click on the player below to listen to the first interview between Dave Savage and Scott Nicholson.

Click on the player below to listen to the follow-up interview between Dave Savage and Scott Nicholson.

or you can download grab the 17Mb file here

Click here to download a sample of Scott’s actual presentations.

Click here to contact Scott Nicholson with follow-up questions.

CASE STUDY: How Jonathan Klein Made $47,000 in Consulting Fees Above and Beyond Loan Commissions Selling A Simple Service Called “Divorce Planning”

In the midst of the mortgage meltdown, Jonathan Klein’s business is thriving, thanks to a niche that he discovered needed filling, and that his clients are more than willing to pay for.

BIG IDEA: ADD CONSULTING FEES TO YOUR COMMISSIONS
How would you like to get paid to prospect for loans? Jonathan Klein did. To date, he’s made $47,000 by offering a consulting service called “divorce planning” for which he is paid an up-front retainer fee.

THE CHALLENGE:
Clients facing an impending divorce are at risk of losing their home, or losing the equity in their home. They need help protecting their assets and securing their future.

THE SOLUTION:
Through a consulting service he calls divorce planning, Jonathan tapped into a new source of clients and referral partners, generating $47,000 in consulting fees in addition to loan commissions.

KEY TAKEAWAYS FROM THIS CALL:

• Jonathan explains how he created a value-driven service above and beyond the ability to sell a mortgage;
• He reveals who his most valuable referral partners are for this type of service;
• He shares the story of how he determined the appropriate consulting fee for his services;
• He provides templates of the actual letters he uses to create new referral partners and he shares his secrets for writing letters that get the referral partners to return his calls;
• You’ll be able to download a sample of one of his actual Divorce Plans;
• Jonathan reveals the single most important question he asks of every customer to help close the deal.

Listen to this interview and you’ll hear Jonathan describe how he uncovered the need for a divorce planning service and now uses the service to generate new income, clients and referral partners.

or you can grab the 45Mb file here

Follow these links to download Jonathan's sample divorce plan pdf and the 9 sample referral letters he uses.

CASE STUDY: How John Weller Turned 1 Loan Into 2 Loans

Despite challenging times, John Weller of Megastar Financial in Denver continues to outperform the market. He’s got some great ideas on how to earn trust and respect and create a sense of urgency with the borrower.

BIG IDEA — HOW TO TURN 1 LOAN INTO 2:
John builds trust and respect right from the first conversation by offering to show the customer all their best options and to let them choose the mortgage strategy that’s right for them if they come into the office.

THE CHALLENGE:
When a homeowner is meeting a loan officer for the first time, there is no relationship yet… and therefore no trust or respect. As a defense mechanism, most homeowners — who don’t understand their complicated mortgage choices — tend to fall back on the only thing they do know — “rate shopping” among several lenders.

John needed a way to build that trust and respect quickly to switch the focus from price to advice, and to get his customer thinking more about the total cost and a long-term mortgage plan.

THE SOLUTION:
By asking valuable questions and then delivering a documented Mortgage Plan with a variety of options that meet each customer’s unique needs, John is able to consistently win the trust and respect of his client, which translates into both sales and referrals. When you listen to this case study, you’ll hear how John won the client over so quickly that he turned one loan into two before they even signed the papers. 

KEY TAKEAWAYS YOU’LL GET FROM THIS CALL:
• John starts with a high trust interview, spending the first 15 minutes getting the client to talk about anything that’s important to them — payment, purchase price, down payments, etc.
• John keeps the meeting focused on loan structure and strategy. He provides a good faith estimate after the client has decided on their mortgage strategy.
• John advises clients on how to suggest a seller buy down as much as 6% to reduce the overall interest rate; this not only helps the home get sold more quickly but also takes the buyer’s attention off the closing costs and fees.
• He dollarizes the total cost over 60 months and shows the impact on the freedom point. This earns the client’s trust and respect because he is demonstrating that he has their best interest in mind and that he has extraordinary knowledge they won’t find anywhere else. 
• This particular client was so impressed with John’s advice that they referred him to a coworker who ultimately bought their house, turning one loan into two.

Using these methods, John consistently closes 9 out of every 10 loans that come across his desk and turns 1 loan into 2 by generating referrals from existing customers. Listen to this case study and start reaping the same successes as John today.

Click below to listen to this 22 minute case study:

or you can grab the 24Mb file here

Be sure to open John's actual client deliverable Total Cost Analysis and Rent vs. Own Report to follow along while you’re listening to the call:

To contact John: jw 'at' megastarfinancial.com