Mortgage Brokers — This One’s For You

Posted @ 5:46 pm - Filed under Check This Out, Retirement, San Diego Property Owners, seminar

How many business associations result in a win-win-win situation? In my experience not too often. If you’re a mortgage broker looking for more business, I may have something of interest here for you.

Here’s a shot of the happy hosts at the end of our most recent seminar, held in Boise.

Almost three years ago my son and I began beta testing a very intimate invitation only seminar. And the cool thing about it was we weren’t the ones doing the inviting. Folks attending these comfy seminars were invited by someone they not only knew already, but with whom they’d done business — their mortgage guy/gal. (Yeah, I know I said gal, but give me a break, I’m a ‘boomer.)

The concept worked so well at first we decided to take what we learned, smooth the edges, and take it for a test drive in other states. So far we’ve discovered many things, but there are three that stick out.

Attendees said they’d would have invested sooner but didn’t know an expert

The seminar generated from a dozen to three dozen loans for the mortgage broker

Since only lender’s clients expressing high interest were invited, smaller groups made way more sense

So far we’ve had lenders show interest from the Midwest, Idaho, Arizona, and Nevada. The lenders who’ve hosted these seminars have, without exception, said the results were outstanding. They also said many their clients actually called them the day after the seminar to thank them for the invitation.

So what does a lender need to do to host his own BawldGuy seminar?

First — you should be licensed in more than just your state, since Brown & Brown is already in several states. Idaho, Colorado, and Arizona would most likely be destination states for investment capital these days. And that’s just the short list.

Second — though we don’t charge a fee for the seminar itself, the mortgage broker is on the hook for our expenses. Generally, it’s flying us there and back, plus hotel, and a car if necessary. Many times we don’t need a car. At most this will involve myself, my partner, and an assistant, but usually just my partner.

Third — the success of the seminar is in large part dependent upon the proactive participation of the lender. Everything from venue, to info sheets on who I am, refreshments — you know what I’m talking about, right?

There are two kinds of clients who attend. Those who haven’t invested yet, but own their own home. And those who may have invested in a small rental or two, but aren’t nearly satisfied with either their performance or the advice they’ve been getting up to this point. What they have in common though, is their focus on retirement. They know they need much more income then their present Plan will generate. They want a great retirement — they’re just not sure how to pursue it.

The average attendance is running around 8-12 ‘entities’. (couples, partners, singles) The atmosphere has proven to be very popular because they don’t feel like they’re part of a cattle drive. Also, it becomes quickly and readily apparent they’re in a room populated by like-minded people which adds to their comfort level. You’ll be happy to hear I promise no silly charts or super hi-tech gadgets — just the reliable info for which they’ve been searching. More than half of the time is spent answering their questions — which for most part is the #1 reason for their interest in the first place.

These seminars are designed to last around 90 minutes — including a Q & A session. We’ve been woefully unsuccessful with that goal though, as folks have peppered us with so many great questions. Many of the seminars have gone more than an hour over. We stop for only two reasons — they’ve run out of questions, or our plane is about to leave without us.

If you’re a mortgage broker, especially in San Diego since we’re trying to get folks to take their investment capital out of here, call or email me. We’d love to have you on our calendar.

This entry was posted on Sunday, May 6th, 2007 at 5:46 pm and is filed under Check This Out, Retirement, San Diego Property Owners, seminar. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.