Want to quintuple your closings? 2 words you should live by.

Want to quintuple your closings? 2 words you should live by.

By JC Kiadii, Internet Marketing for Mortgage Professionals

Yes, I know. It is easy to distrust the words “simple” or “easy.” Yet, there is 1 simple way most mortgage professionals can close 5 times more loans, and it can be summed up in 2 words:

“Follow up!”

That’s it.

Here are some figures that illustrate the importance of following up.

• 80% of sales are made after the 5th contact. This means a mortgage professional who isn’t following up is only making about 20% of their potential sales.
• It takes, on average, 7 reminders to get someone who is interested in your products or services to buy. This mean that you must personally follow up with each prospect until 1 of 3 things happen:
  1. They say “Yes, I’m ready to get a mortgage.”
  2. They say “No.”
  3. You’ve followed up 8 times.

Once one of these 3 things have happened, the prospect should be stay on some sort of automatic marketing system, such as your mortgage email newsletter. Why? See the next point.

• Each of us has, on average, 200 people in their sphere of influence (SOI). These are the people we work with, the parents of our kids friends, the people in our sports leagues, etc. Following up with your mortgage prospects keeps you front of mind not only with your prospect, but with their SOI (up to 200 potential referrals!). 

It doesn’t if you use Outlook or a custom-designed solution – it’s just important to follow up. Who knows how many closings you lose if you don’t?

For additional information:
Mortgage Training Webinar – Outlook 2007 Lead Management Skills

Are you following up with each prospect?

http://www.twitter.com/mortgageva

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JC Kiadii, Mortgage Internet Marketing Services . 770-469-7385. Are you reaching out to the 87% of new buyers who start their search online? Our team provides results-driven mortgage Internet marketing services. Visit our website and sign up for the More Closings email newsletter to receive the report 6 Steps to More Referrals.