1. Fear of getting too financially intimate with your client
2. Don't want to spread yourself too thin, you want to focus on what you know, which is real estate
3. Lack of knowledge & expertise regarding finance and mortgage industry
4. Added expense and time required to start another business
5. Fear of violating RESPA and may risk the possibility of loosing your broker license
6. You were told not to in real estate school or by your very own managing broker (while you knew that he or she was already in the mortgage business)
Most Realtors have been thought in sales school, that to be successful they must stay in control of their client and the sales process. To-day how business is being conducted is rapidly changing with the ever growing Internet Customer. Have you noticed that you are less and less in control. Here are some interesting statistics; "76% of clients looking for a home will use the Internet, before they ever E-mail, telephone or meet with a Realtor". - 'The National Association of Realtors (NAR) recently conducted a survey which determined that over 80% of home buyers would prefer to have their real estate agent help them with their mortgage financing rather than refer them over to someone new and unknown."
Consider a New Business Model, where Internet technology and easy to use Point of Sale mortgage loan origination systems, implemented on the Internet, makes the tasks of filling out a 1003 mortgage application a breeze.
Initial loan documents and required disclosures by law are automatically generated and E-mailed to your clients within the three day RESPA rule. Mortgage products and pricing are done automatically from the input you provide by filling out the easy e1003 application in your browser. Then a list of available solutions are given to you to select from by the build in pricing engines.
You can become a virtual owner of a Mortgage Company overnight. Give your clients more of what they want and spend 80% of your time on the 20% of the activities that will expand your business and generate more revenue for yourself and your team.
Here are a few steps to follow to implement this New Business Model:
Powerfully chose to add Mortgage Origination to your or your team's existing core of talents (Whatever your talents are now, you need someone else's talents to complement yours to realize your goals faster.)
Benefits: You will stay in control of the loan process. You won't miss any important contractual dates. You will get automated loan status reports. You will stay RESPA compliant. You could make an additional commission by representing your clients on mortgage origination.
Create a Winning Team- by having a highly focused, local team tailored to support your business is your key to success. You can outsource mortgage origination to a local team of a mortgage bank (make sure that they have the track record in the purchase origination business, they have the technology, products, pricing, in-house underwriting and processing support.
You can decide how much time and energy you want to spend in the mortgage business. You can have your own dedicated mortgage coordinator and processor. You can direct your client to your loan coordinator to get pre-approved. You can be on a conference call with your client and your loan coordinator to complete the on-line loan application and follow the process on your computer.
This is a testimonial from a Realtor in Albuquerque, NM, who is taking charge and using this new business model: "I have bought and sold homes for several years, mostly my own properties. Little did I know the real opportunities that this new business model presented. I can make more money in less time with no investment or liability like I had before. I have recently been a buyer?s broker with a customer and originated a loan at the same time, with the help of Steve Toth. My customer received excellent service at a single location (his home). I already had most of the info I needed for the loan. The purchase offer was accepted on a Thursday and by Friday we already had a pre-approval on the loan. How easy is that for my customer and me? My customer did not even have to miss work. I have changed my whole focus on Real Estate. Instead of spending days looking for my next project, I spend my time with customers ready to buy or sell and helping others in the business. None of which is none productive time. What a great opportunity for any Real Estate agent!!"-Ron Hensley-Albuquerque, NM
Mr. Toth has over nine years of residential, commercial and investment banking experience. He started the Real Estate and Mortgage Focus Radio Show in early 2004 on 630KHOW Denver's Talk Station to educate the public about real estate, finance and coaching. He became known as a real estate and finance area expert and someone who networks at a high level within the industry. In 2006 Steve M Toth, "The Mortgage Guy"-Radio Show Host on Live365 expanded the "Real Estate and Mortgage Focus®" Radio Show Program into a national show on Live365- the World's Largest National Internet Radio Network.
www.relestateandmortgagefocus.com
info@mortgagefocus.org
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