Modern Lending Playbook

showup:evolve

A retail LOAN CONSULTANT'S guide to leveraging

digital disruption, developing business & scaling influence

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evolve CLICK TO PLAY VIDEO

“The showup:evolve playbook is at its core, the groundwork to take charge and transcend your business in a constantly changing industry. Human behavior has changed.

We’ve changed how we do business, how we interact, what we expect, and what tools we use. This playbook is a one of a kind, paradigm shifting educational powerhouse aimed to advance and empower today’s retail loan officer to leverage the consumer centric disruption our industry is going through. More importantly, it’s a call to action, a rallying cry, and a lantern in the dark.”

–——–——–

Alec Hanson Vice President, Regional Production

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evolve Table of Contents MODULE 1

Building Your Digital Brand 2

–——– MODULE 2

Digital Marketing 4

–——– MODULE 3

Local Marketing 8

–——– MODULE 4

Referral Partners 12

–——– MODULE 5

Lead Management 18

–——– MODULE 6

Consultation & Quoting 20

–——– MODULE 7

Lead Management 24

–——– MODULE 8

Relationship for Life 27

Building Your Digital Brand

01 MODULE

Your personal brand is a vivid indication of the best you have to offer — the performance, contributions, and value customers can expect from you. The brand you communicate marks your career reputation and is in some respects a promise.

WHY you need to build a strong personal brand A well-defined personal brand allows you to: • Identify how to showcase your best self.

• Understand your strengths and weaknesses.

• Stand out from your peers and competition.

• Build your "tribe" (others who share the same values).

• Be human and have more meaningful interactions with others.

• Establish credibility.

• Demonstrate your value through your actions.

• Elevate your social proof.

• Solidify your niche.

• Convey your message and values.

• Be more confident.

Moreover, it is important to understand that everyone has a personal brand, whether you want one or not. It is defined by everything you do, from what you wear to how you compose emails to how you conduct yourself on the phone.

ASSESSMENT Do I have any social presence? If so, is it a reflection of my authentic self?

Have I established credibility through social proof? What social tribes am I a part of?

Does my current online presence (photos, videos, blogs etc.) accurately demonstrate my branding?

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2.

Your Digital Footprint 1. Personal Audit: Google Yourself Assess how the world sees you and clean up any content that does not fit your desired image. If you are not properly managing your online reputation, then you are actively missing out on business opportunities.

2. Enhance Your Digital Presence

Intro to Social Media Success

Social Media Setup

For Support Contact Marketing!

Unique Value Proposition (UVP)– What Sets You Apart?

1. Identifying Your Unique Value Proposition

ASSESSMENT How do I want to be perceived?

Does my current brand authentically express who I am?

Do I stand out from my peers and competition?

Am I conveying my message and values?

2. Understanding your market

4. Your communication style

• Spend time understanding your local community and where you need to “brand” yourself to develop business

• W hat do you want people to feel or understand when they see you online or in local advertising?

3. Analyzing your customer and product mix

• W hat defines your style: Educational, Fun, Influential, Consistent/Steady, Reliable, Experienced etc.

• W hat does your customer stand to gain from your service/product?

• How is the product different from those offered by competitors?

5. Your expertise • Build an online presence that reflects your brand and expertise • Identify your niche: First-time homebuyers, Veterans, Business Professionals etc.

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3.

What is Chatter?

Chatter is an online collaboration tool to take what you have learned and exchange insights or big “Ahas” with your peers. It’s where you can continue the Show Up | Evolve Playbook discussion after completing each Module and Survey Assessment. This easyto-navigate interactive platform allows you to spread new ideas, collaborate, offer and obtain input from other originators, share wins, or simply ask for a fresh perspective on any challenging areas.

Want to continue the conversation? Join Chatter Here

Ready to apply your knowledge? Take Module 1 Survey Assessment

Related Content

Tai Tran — Designing a Purposeful Personal Brand

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Matt Orlic — Inspire Brands Group

4.

02 MODULE

Digital MARKETING

Utilize a comprehensive and strategic digital marketing plan to level the online playing field. Plans are more cost effective than traditional marketing, deliver conversation, help generate better revenues and ROI, facilitate more audience interaction and build a reputation as a trusted resource for your customers.

FACT

90%

of your customers will Google you before calling

Nearly all of them are on social media platforms every day. They are searching for houses, engaging your competition, and researching answers to questions. Now more than ever, you need to show up where your customers are and that includes a mastery of digital marketing.

Audit Your Digital Marketing Efforts ASSESSMENT Where do your digital efforts stand today?

Facebook Business Page

Let's do a quick inventory of your active social channels and digital platforms. Check the boxes to the right if you have an active profile setup, then add the number of Likes, Followers, Connections or Reviews that you currently have today on each of those channels.

LinkedIn Twitter Zillow Instagram

Likes Connections Followers Reviews Followers

Is your brand in a healthy position inside each channel? hat tools are you going to use?

W Are you utilizing the tools provided to you via mello™CRM and Marketing platforms? If not, what trainings can you take to learn these systems and apply them in your strategy?

What campaigns* are you running now or have you run in the past?

* Campaigns are strategic and frequent posts that have a call to action or an intent to create leads and generate business. It’s not to be confused with a branding campaign.

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5.

Campaign DON’T post!

First things first, you have to be strategic and have a plan with an end result involved. Your end result should clearly be to generate potential customers who want or need your services.

Think about political campaigns. Their end goal is absolutely clear, they want you to vote for their candidate or their proposition.

You are no different, you want a potential customer to come to you for their home financing needs or to refer someone to you (like a realtor or past customer would).

But before we can build a campaign, we have to SHOW UP and build your audience!

I.C.E Strategy (Identify, Connect, Educate) Identify: Who are your top 3 target audiences? (enter 1-3 below) Realtors

Related Businesses

Past Customers

Title, Escrow, etc.

Friends and Family

Current Homeowners

Local Community

Potential New Homebuyers

Connect: • Connect and GROW your target audience

• Tag them in a piece of content you produced

• Send a Facebook Profile request with a custom message

• Engage them with questions, comments, likes, etc.

• Like their Instagram and give them a reason to follow you back (Business IG)

• Carve out time to grow your digital audience

Educate/Entertain/Engage:

topic ideas: Veteran EDUCATION

Download Presentation

Renovation EDUCATION

• • • • • •

hy do you care about helping vets?

W What is the VA benefit?

H ow often can you use the VA benefit?

What common costs are associated?

H ow to write a strong offer with VA financing VA Reno for vets including disabled vets

• Want a bigger house, but can’t seem to find the right one? (renovation refi)

• When to use a renovation loan versus a cash out • VA Reno for disabled vets • H ow to purchase a home with a renovation loan

Download Presentation

• Share

some live customer examples (showcase their home) • What to look for in a contractor (potentially interview one)

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6.

Sample Campaigns Speak about what you know best, creating campaigns around your specific niche.

Only then will you authentically connect with your audience!

PRO TIP: EXAMPLE 1

Protecting the First-Time Home Buyer

Download FTHB Package

What is the “why”? · The passion here is educating and protecting the first-time home buyer from potential hiccups they could experience. The goal is to educate the first-time buyer about what to expect but also what to watch out for.

Example Content: · How to best position their finances (including assets) before applying for a loan · Warnings about how their data will be sold when they “click buttons” or get their credit run

· When should you remove contingencies? · What’s the difference between an appraisal and an inspection and what should you look out for?

EXAMPLE 2

Educating Our Veterans

Download VA Brochure/Flyers

What is the “why”? · The passion here is educating veterans on their VA benefit · Many don’t know how to use it, what it provides, how often they can take advantage of it Example Content: · Why do you care about helping vets?

(Were you a vet yourself?)

· What costs are associated?

· What is the VA benefit?

· VA Renovation for vets including disabled vets

· How to write a strong offer with VA financing?

· How often can you use it?

EXAMPLE 3

The Power of Reno

Download Reno Flyers

What is the “why”? · Helping people live their best life in a home they love · Illustrating all the available options to borrowers. They don’t have to be stuck with a home they don’t like!

Example Content: · “So you want a bigger house but can’t seem to find the right one?” (Reno Refi)

· Share some live customer examples (showcase their home)

· When to use a renovation loan versus a cash out

· What to look for in a contractor (possibly interview one)

· VA Reno for disabled vets · How to purchase a home with a renovation loan

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7.

Remember Your Intent!

Your Digital Marketing Toolbox:

• A sk others to share your content with someone who may benefit (or tag them)

Click below to download job aids and other resources.

• A sk for comments/questions and engage back with people who respond • Leave links to more information about the topic (blog, article, another video, etc.)

Email Marketing

AutoCampaigns

Mass Comm

Social Media

Video Marketing

Reviews (Zillow, Yelp)

• D rop a link to your personal website for “more resources” (the more people you drive to your website, the more re-targeting opportunities you will have) • Create a landing page via mello™Marketing and link it, so people who want more info can drop you their contact info

Realize that anyone who comments, shares,tags someone, etc. is now an opportunity! You should follow up and/or add them to your database!

There has never been a better time to leverage your video marketing efforts!

Want to leverage VIDEO MARKETING? Click Here to Access Video Job Aids & Training

Social video generates

1200% shares more

than text and images combined

Video drives a

157% Increase in organic traffic from search engines

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Companies using video enjoy

41% TRAFFIC

more WEB

from search than non-users

74%

of millennials find video helpful

find when comparison-shopping

Businesses using video see

62% growth revenue

faster year-over-year than organizations without video

4X

as many consumers

would rather watch a video about a product than read about it

8.

AUTHENTICITY IS KEY FOR YOUR BRAND ON SOCIAL MEDIA No matter how active you are on each social media channel out there, if your content is not genuine, it can be a challenge to establish trust and drive business.

Think of your authentic brand as one that stays true to its core values, principles, and actions. Consumers crave authenticity - it impacts them when choosing what brands to support or engage with, and should be the most important thing that drives your social media strategy.

Be Human!

Share posts about things that you care about or impact your community. Here are some examples of what you can share:

Book you read

Podcast you enjoyed

Photos/videos of a community event you attended (church, volunteer event etc)

Article that stood out

Morning workout routine

Video you learned from

PRO TIP:

Users primarily go on social media for entertainment purposes and to keep up with their friends.

Don’t be just a billboard. Authentically connect with others in a relatable way by sharing real “snippets” of your life (not just mechanical posts about products you have to offer). That way you will establish a more trustworthy relationship on a more personable level.

Ready to apply your knowledge? Take Module 2 Survey Assessment

Want to continue the conversation? Join Chatter Here

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9.

Local Marketing

03 MODULE

It’s more important than ever before for Loan Consultants to develop their local “muscle” to establish relationships, generate leads and grow their business.

Therefore, developing a local marketing plan needs to be the foundation of their business origination strategy. It not only serves as an un-duplicable model which an online lender cannot match, but also allows an opportunity to reach the customer first, grow strong business relationships and showcase tremendous value.

Your Foundation and Purpose

As a starting point for local marketing, a clear foundation and purpose have to exist to produce viable results.

Where Do You Start?

There are millions of personalized efforts anyone can participate in to deepen local marketing efforts to create impact, gather potential customer information, and provide value. To develop this personal strategy you must spend time understanding what you care about, what gets you personally excited and where you can make an impact.

First decide…

What do you care about?

What does your local market care about?

How can you be of service?

From there, build a local marketing strategy with actionable activities to follow!

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ASSESSMENT Perform an internal audit of yourself as it pertains to how you currently utilize local marketing. Start by compiling a list of all current local marketing practices.

What are the local networking groups available to you? Both formal and informal. Write those that you are involved in.

What are some of the businesses in your area that may be open to a collaboration?

Local Businesses A Local Watering Hole A Local Bank A Credit Union

Check out these PROGRAMS:

Lender Express

loanAdvantage

Community Involvement What community events, activities, and efforts have you participated in?

Check all that apply: Local Meet-Ups

Yard/Garage Sales

Housewarmings

Community Clean Ups

Block Parties

Caravan Tours

Past Client Appreciation Nights

3rd Place Opportunities If your home is your 1st place and work is your 2nd place, then what is your 3rd? Is it a church, the gym, or perhaps a local bar that you always visit to watch the game?

Here are examples of real success stories of folks who have embraced their 3rd place.

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Success Story:

LOAN CONSULTANT Hosts a Networking/Social Night at a Bar Sample Strategy Execution Steps: 1. Engage and meet the bar owner 2. Ask to host a networking or social night 3. Invite a group of people (networking groups, realtors, past clients, friends and family) 4. Incorporate fun marketing (banners, custom drink or appetizer) 5. Ask the owner to have standing marketing inside the venue (posters in restrooms, coasters, menu items named after you) 6. Generate Pre-Quals, add to CRM 7. Turn this gathering into a quarterly networking event

Success Story:

LOAN CONSULTANT Sets up a Burger Station Sample Strategy Execution Steps: 1. Approached Five Guys Burgers (or other establishment) 2. Set up a station where Serviceman receive a free burger (11am-1pm) 3. Engage Servicemen in education on VA benefits while food is prepared (5-7 mins) 4. Generate Pre-Quals, add to CRM

Consumer Education Events Another way to stay relevant in your local community is to hold a neighborhood educational seminar. You can organize a seminar for first-time homebuyers or for the local realtors on our different types of products such as renovation. VA renovation products can be a value proposition to the local realtors as we are one of a few lenders who offer it.

Here are some ready-to-go presentations you can utilize to host these events: First Time Homebuyer

Renovation Lending

Download Invitation Template

Download Event Template

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Veteran Home Loans

12.

More Local MARKETING EXAMPLES Educational Seminars

Community Events

• First-time Homebuyer (Down Payment Assistance if applicable)

• Hosting Local Community Clean Ups

• Reno

• Charity Events / Toy or Food Drives

• VA • Lunch 'N Learns • Rent versus Own

• Yard Sales

Local Branding Opportunities • LD Swag, Chairs, Umbrellas

Social mixers • Networking Events • Think 'N Drink • Past Customer Appreciation 3rd Place • Jeffres et al. (2009) listed the following types of environments as possible third places, considered in their research:

TAKEAWAY

community centers, senior centers, coffee shops and cafes, bars and pubs, restaurants, shopping centers, stores, malls, markets, hair salons, barber and beauty shops, recreation centers, YM/WCA, pools, movie theaters, churches, schools, colleges and universities, clubs and organizations, libraries, parks and other places allowing for outdoor recreation, streets, neighbors’ yards, homes and apartments, and events like neighborhood parties, block parties, cookouts, barbecues, town meetings.

Your local marketing strategy should…

• be done to serve, support, enhance, thank or connect people inside a community • be strategically branded so people KNOW exactly what you offer • consist of a clear way to capture contact information or ways for further follow-up

Ready to apply your knowledge? Take Module 3 Survey Assessment

Want to continue the conversation? Join Chatter Here

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13.

04

Referral Partners

MODULE

In this module, you will learn how to develop a repeatable, consistent, and dynamic prospecting strategy centered on building relationships, establishing trust, growing your referral business and gaining new partnerships.

Audit Your Referral Partner Efforts ASSESSMENT

DID you KNOW? Buyers typically search for 10 weeks and look at a median of 10 homes. The length of the home search was the longest for buyers 37 to 51 years at 12 weeks.*

Analyze Current Partnerships How many realtors do you currently work with on a consistent basis?

How many leads are you generating from your current referral partners monthly? ow many deals did you close in 2018 that were directly attributed to referrals from real estate agents H and builders you currently work with?

How much business is being done by agents in your marketplace that you are not currently working with?

How could you potentially capture more of that business?

Evaluate Current Practice (check all that you currently utilize) Monthly Mailers & e-Blasts

Post-Closing

Face-to-Face Strategy

Lead Management Strategy

Business Meetings

Social Media

Open House

Digital Strategy

Co-Marketing

*https://www.nar.realtor/sites/default/files/reports/2017/2017-home-buyer-and-seller-generational-trends-03-07-2017.pdf

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10 Referral Partner Strategies Below you will find ten specific referral partner strategies to deploy in order to dominate your market. They are designed to build on each other and operate congruently. You are encouraged to pick and chose different strategies that work for you.

1. Digital Marketing & Social Media This strategy is centered on building digital connections to those in your network, establishing a surround sound marketing effect. The key here is to not over engage, but maintain delivery of consistent, valuable content to your audience.

See Module #2: Digital Marketing

Identify + Connect

Build your digital audience by connecting with prospects that you are working with on your social media channels.

We have constant events happening in our lives that make for great content on social and digital channels.

Engage

Here are some examples to consider below: Important Life Events (ILE)

Important Business Events (IBE)

An effective way to make your digital connections more

personal!

What better way to announce, welcome or congratulate the arrival of a new baby or a new pet to the family than with loanDepot and mello branded gear?! loanDepot Pet Collar mello Infant Creeper

Generally, people enjoy seeing other people succeed and people who succeed are generally surrounded by successful people. Consider recording a brief video of a surprise visit to someone’s office or desk. Congratulate them on a promotion or for a job well done (don’t forget the balloons and noisemakers!). This would make for great social content to promote your team culture and success.

ASSESSMENT What are upcoming life or business events YOU could create content for and share with your audience?

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2. Face-to-Face (F2F) A face-to-face strategy is foundationally built on consistency and discipline. It’s a set of repeating activities with the simple objective of getting you face-to-face with the targeted prospect group to develop, influence and gain trust through rapport and relationship building.

RELATIONSHIP BUILDING

Phase 1: Get to Know Me Before you can get here:

PRO TIP:

You need to get here:

Do some research.

Check out the individual’s social channels and digital profiles before reaching out or setting a meeting so you can understand who they are. Gather some general personal and professional topics from this preliminary research to help establish similarities and common ground between the two of you.

This is a rapport and relationship building phase and should never involve “selling” of products or services. A potential referral partner should know you, like you and, finally, trust you before you sell them anything you have to offer from a business standpoint.

Move to Phase 2: You are likely out of this phase if you walk into an open house and the agent actually remembers your name.

RELATIONSHIP BUILDING

Phase 2: Offer Value This is when it becomes appropriate to begin offering things of value. This phase will help you identify how much trust you have with your prospect. Start with simple scripts offering financing flyers, bottled water at open houses, single property websites to help further promote their listings. Note how they respond. If they give you a hard no, chances are you need to build more rapport and trust.

Here’s an example of a “pitch script” you can customize based on the level of rapport you have with a prospective referral partner: Click below to view sample materials

3465 COUNTY ROAD 44 MINNETRISTA, MN 55364 Pass through the majestic 15-foot castle gate entry, and begin walking on cobblestones said to be walked on by President Lincoln and others over 150 years ago. The Hawks Nest Castle located on the shores of famous Lake Minnetonka- the home of Purple Rain & Tonka Toys. Inspired by a 1789 English manor, the estate, built in 1989, includes the latest technology, with infloor heat, commercial air conditioning with 40 zones, and elaborate security systems. Over 22,000 feet of spectacular interior.

Be Bold!

Send a note to realtors with links to marketing material and simply say:

"Hey, congrats on your listing. I wanted to be bold and go ahead and create some marketing for your listing to try and help you sell that home. Check out this website: (insert link and attach fliers)

Angela Realtor Realtor 568-987-9999 office 508-987-0000 cell 12345 Executive Drive, Suite 3022 Minneapolis, MN 55346 brian.walerius@yahoo.com totalexpertinc.com License: 01031979 Program Name

Loan Program 1

Loan Program 2

Loan Program 3

%/%

%/%

%/%

$

$

$

$

$

$

%

%

%

$

$

$

Up-Front Mortgage Ins.

$

$

$

Monthly P&I Payment

$

$

$

Monthly HOA Fees

$

$

$

Monthly Hazard Ins.

$

$

$

Monthly Mortgage Ins.

$

$

$

Monthly Property Tax

$

$

$

$

$

$

John P. Publictest NMLS# 10100 Senior Loan OfficerTestinglong 555.555.5555 office 333.333.3333 cell 6321 Bury Dr Suite 15, Suite 3000 Eden Prairie, MN 55346 jpublic@loandepot.com jpublictestingwebsite.loandepot.com

loanDepot.com, LLC. NMLS #174457 (www.nmlsconsumeraccess.org). Residential Mortgage originator License No. MN-MO-40203037. This is not an offer to enter into an agreement. Any such offer may only be made in accordance with the requirements of Minn. Stat. § 47.206 (3)&(4). For more licensing, please visit www.loanDepot.com/licensing.

Congrats and good luck!"

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16.

RELATIONSHIP BUILDING

Phase 3: Trust Me This phase truly begins if the potential partner will take a meeting with you to discuss a partnership. They may take things of value from you before this occurs, but an established goal of yours should be to set an appointment and have a sit down business meeting to discuss how to become actual partners in real estate.

Thank them or add value to their business.

3. Monthly Intentional Contact (MIC) Establish an appropriate monthly marketing effort which should happen 1x a month, and vary from digital (email), social, and direct mail content including a personal approach to promote your strategy and brand.

Create twelve touchpoints for the entire year but allow for flexibility of market demands change.

Click Here to Download the MIC Strategy Template for Referral Partners!

Sample Monthly Strategy MONTH 1:

MONTH 2:

MONTH 3:

MONTH 4:

eFlyer about you and loanDepot

Direct mailer to their office about you

Video Message via email or social

Open House Survival Kit delivered

(FedEx, or signature required makes an impact)

View Job Aid

Also include “About Me” flyer MONTH 5

MONTH 6:

MONTH 7:

MONTH 8:

Funsy - Tchotchke mailer

Introducing mello™Marketing suite of marketing tools via email

Personalized Sly Dial (TOOL)

Share a Mortgage Coach TCA

(i.e. Double sided coin Throw me a bone)

View Job Aid

View Video

MONTH 9

MONTH 10:

MONTH 11:

MONTH 12:

Invitation to a customer appreciation networking and cocktail event

Share a useful application of Business Tips

Thankfulness campaign for the month of November

Share your business plan and strategies for next year

View Invitation Template

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17.

4. Leveraging the “Other” Agent Many of your transactions will contain an “other” agent – the one who did not refer you the customer and who you may not have an established partnership with.

Since this will likely happen often, you need a systemic approach that leverages your success and performance to gain an appointment with the “other” agent.

PRO TIP:

Here are a few things to make sure you are doing on every deal to engage the “other” agent:

This is typically the listing agent, but if you work with home builders it will likely be the buyer’s agent.

1. Perform an exemplary job communicating with the other agent throughout the transaction.

2. Setup the pitch opportunity by asking for an appointment IF you can impress them with your performance.

3. Remind them of their agreement to this appointment at 1-2 other times throughout the transaction.

4. Add them into your CRM and include them in your F2F and MIC strategy as appropriate by levels of production.

5. Have a scripted post-closing appointment setting process built into the CRM task management system.

5. Setting Appointments A successful appointment strategy comes off the efforts of the MIC, F2F, and “other” Agent strategies. A successful goal would be to set a minimum of four (4) face-to-face appointments per month with your prospect list.

Sample Strategy: • Have multiple presentation “decks” prepared ahead of time (include Bio and your “Why”) • Bring an “agent profile” questionnaire (this downloadable document is used to understand how an agent generates business) • Ask questions, take notes, and listen before “selling” • Leave with action steps (these can include something you will send as a follow up, a proposal on how you can collaborate)

6. Invites and Events Expanding your local marketing strategies to include your agents is an extremely compelling opportunity.

These should include: • First-time Homebuyer, VA Benefits, Down Payment Assistance, Credit Education, Past and Current Customer Appreciation Events • Leverage your local Association of Realtors events and use those to invite your targeted prospect list if you are not hosting your own events See Module #3: Local Marketing

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18.

7. mellohome In partnership with your Branch Manager, you should have a dedicated prospecting plan for realtors (within the mellohome network) who are not currently committed to a local Loan Consultant.

• Identify and get “aligned” to as many mellohome agents in the network as you can • Perform monthly tracking via CRM of leads sent to your agents from you or direct • Perform regularly scheduled meetings to discuss mellohome (as applicable) and to work on developing other business with the agent as well • Leverage and develop a Team MSA if appropriate with the mellohome agent mellohome eBook – Prosper in the Face of Disruption

8. Agent to Agent Create a quarterly strategy to leverage existing referral partners to set appointments with new agents.

Use the CRM as a planning tool and build in automatic tasks that prompt you to reach out. Have a predetermined script and either ask for general help in meeting new agents or get very tactical and specifically ask your current partners if they can introduce you directly to a top 1% agent.

9. ABA (MSAs) Nothing beats building relationships like working together in the same space. With the rise of the “virtual” realtor who never comes into an office this strategy may be misinterpreted as irrelevant, but financial contributions to the eco-system of top referral partners never go out of style. MSAs, Team MSAs and Desk Rentals continue to serve as a viable strategy to cultivate such relationships.

Work directly with your manager and compliance on sourcing and setting up ABA relationships like these but never underestimate the power of financial partnerships, especially if they are directly with the Top Producing Team and not with the Broker.

10. Lead Manager Master As more agents aggregate digital leads instead of door knocking, using melloTM CRM & Marketing you are a perfect complement to their efforts. Realtors are true lead aggregators you should leverage and align with to grow your business. Having a demonstrable ability to help them foster, manage, and convert leads is an effective strategy to earning their business and their leads. Combine this with the lead management module skillset, the ability to send leads back to them via DPLP and mellohome, along with access to the lead pool and you’ve now become a truly valuable partner.

See Module #5: Lead Management

Ready to apply your knowledge? Take Module 4 Survey Assessment

Want to continue the conversation? Join Chatter Here

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19.

05 MODULE

Lead Management

Managing leads effectively has never been a core competency of the retail Loan Consultant. Simply put, this skill set was typically relegated to our referral partners while we operated near the end of the sales funnel positioning ourselves to work with warmer customers ready to transact.

Today, it’s crucial we master a strong, technologically supported lead management system that can assist us in cultivating massive amounts of customer information and converting more and more customers into our sales cycle.

This module is designed to help build the blueprint for such a program and develop the background technical support needed inside melloTM CRM to master this topic.

Audit Exercise Describe your current lead management systems or activities.

How do you track leads and contacts today?

Do you have a system that you use for task/follow up management? What is it?

Describe your origination tactics to take a lead and to convert that lead into an opportunity (your sales funnel).

Identify your current sources of leads: Realtors

Home Builders

Blogs DPLP

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ZillowÂŽ

Open Houses

Landing Pages

Digital Marketing Campaigns

Past Customers

Lead Pool

Local Marketing Campaigns

Other

20.

EXAMPLE In order for today’s active Loan Consultant to stay competitive, it’s crucial to originate loans using multiple strategies.

Examples of lead aggregation strategies: Referral Partner Landing Pages

Open Houses

Create Lead Capture App

Create Open House Flyers

Single Property Websites

Create Single Property Sites

Customer Direct Strategies • Friends and Family

• Educational Events & Materials

• Network Group

• Local Marketing Efforts

Digital Marketing Efforts Social Media Campaigns

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21.

Lead Management Successful Lead Management starts with clear definitions and consistent language. So let’s start defining our categories of groups of leads in defined buckets*:

Cold

Pre-Qualified

Example of a typical week when calling your leads:

Warm

Pre-Approved

Fridays Call/text to PreQualified shopper

Active

In Contract

Mondays Check in to Active shoppers if they found a home

Non-Active

Past Client

Weekly Check in with people in the Active Bucket

Nurture

Monthly Check in with Nurtures

*Detailed definitions of these groups can be found in the corresponding Module 5 PPT

Accurately grouping customers into appropriate categories creates automatic work flows to kick off in a repeatable manner to handle large volume.

These categories allow us to bucket leads into defined groups and then create a strategy to “manage” them or move them towards an objective, likely into the next group all the way to past customer. This management process is defined as a workflow or journey for the customer. These are defined, pre-programmed action steps that a great lead manager executes against to drive conversion.

To Download All Lead Workflows check out this PPT

Ready to apply your knowledge? Take Module 5 Survey Assessment

Want to continue the conversation? Join Chatter Here

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06 MODULE

Consultation and Quoting

What’s changing? The self-evident change in customer behavior demands a radical shift in the way we provide our consultative services and deliver an interest rate quote to our customer. This module will leverage current bestin-class mortgage tools along with developing an understanding of current objections and issues to improve scripting and customer experience.

Assessment

Important questions to ask yourself: What steps am I taking before quoting a customer?

Role play a customer interaction. What questions are being asked?

Go through any objections and establish preset answers (list of common objections to refer to later).

Objection 1 Objection 2

TAKEAWAY

Objection 3

he longer you can engage with the customer and establish their needs, T circumstance and details, the better your connection will be providing a solid foundation from which you will likely earn the customer’s willingness to remain engaged.

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Ways to Engage with your customer Face-to-Face Meeting face-to-face helps strengthen rapport and builds trust quicker. The transaction becomes personal to a degree that is much harder to reach using the phone or technology.

Online Application The advantage in this situation is content tailored specifically using the prospect’s unique scenario. This can be a huge opportunity to understand the consumer and again build credibility. However, the challenge is staying prepared enough to deliver content beyond this initial consultation to strengthen credibility. “Speed to contact” is CRITICAL. Phone Phone conversations can be beneficial if given the opportunity to take a full application. You will develop some credibility on the fly, and especially if you can facilitate a complete application.

You can’t judge reaction so follow up is paramount to your success. This option is more likely to encounter rate resistance and rejection, sometimes cutting the conversation short. Lean into getting credit and applications.

All options should include a brief commercial about you, loanDepot and what makes this partnership stand apart. Share with the prospect what they will experience by working with you.

PRO TIP:

By clearly communicating your Unique Value Proposition (UVP) you are psychologically setting the prospect up to recognize what you have laid out. If you don’t take this vital step, they will most likely resort to a Google search which may lead them to draw their own conclusions.

For help with assessing your UVP, go back to Module 1. Your web and social presence must be uniform to build the strongest credibility.

Quoting Process Explained Step 1 Lead is Received Input the lead information into mello CRM (min Fields would be NAME, PHONE, LEAD SOURCE, LEAD SOURCE NAME). Lead is contacted as soon as is physically possible.

Step 2 Making Contact Take customer through the “Hopes and Dreams” call: • What purchase price range are you looking in?

• How much is your down payment?

• Source of down payment?

• Payment comfort?

• Horizon of you living in the home?

• Explain the digital tools available • Confirm whether borrower is a Veteran • Confirm “plans for home” (explore Reno option if applicable) Continued on next page >

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Step 2 Making Contact

(continued)

• End the call with a request to gather the client’s information (take an application) • We can do this right now, takes 15-20 minutes over the phone • We can schedule a time that better fits your schedule? (use Calendly)

• I can send you a link to take the application at your leisure • It is never correct to just send out a link cold.

Deliver options.

Step 3: Post “Hopes and Dreams” Call Follow Up (If you have NOT yet received a completed loan application) Step 4: Review Customer Submitted Data and Information Step 5: Create a Custom Needs List Based on DU Results • Send it + call to review and to set consultation appointment • Leverage customer portal and data first options *Intent is for consumer to send items in order to have a powerful and meaningful consultation.

Step 6: Set a Face-to-Face Appointment During This Conversation The goal for your face-to-face consultation is to establish trust, educate, inform the customer and to give them confidence in you, the process and their buying power!

View Module 6 PPT for Tips on Ideal Face-to-Face Consultation and Follow Up Steps

Customer Does Not Want to Take a Face-to-Face Meeting In an instance the customers does not opt in for a face-to-face consult, the path changes. At that point, the best method is to deliver the rate and mortgage options live over the phone so you can engage the client and discuss any of their concerns and objections.

Live Phone Consultation:

Next Best Options:

Email a fully customized Mortgage Coach experience to customer 15 minutes before the designated call time. Embed an introduction video into the presentation to prep them about what the information is and introduce yourself again. Repeat the education objectives from Face-to-Face (available within the Module 6 PPT).

Mortgage Coach Experience Link: If no live phone consultation is possible, send your client the Mortgage Coach experience link with a more detailed video and promptly follow up when they review it. Mortgage Coach alerts you when data is reviewed. Confirm and set a follow up appointment/call to go over the details.

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Follow Up Strategy Video Follow Up: In our busy world, this one-way communication can save time and bring massive value to the client. This strategy should be looked at very much like the value you bring to a client face-to-face but without the burden of an immediate query on the content. This is not only more convenient for the client, but serves as a strategic use of your time.

Video Marketing Instructions

Milestone Texts and/or Emails: Think proactive! Call clients before they ask to be called. Explain where they are in the application process and offer next steps.

Automate: Loan Process Checklist

Send Marketing Email

In Search of Property: This is a great chance to bring valuable content during the home search.

Building credibility during this exciting phase of the process.

Credit Cleanup and Down Payment Saving: This is an opportunity to build value and loyalty as well as cultivate additional referrals.

How to sign-up for Credit Repair e-Journey

Managing Customer Objections and Expectation Setting Prospect Quality • Know your customer Process • Team introductions • Offer next steps at the end of every conversation • Things that can go wrong or things to avoid

TAKEAWAY

Pricing • Internet rates may not be what you see • What does poor service cost?

• Overlays

Conditions • Whoever calls them out must be prepared to elaborate • Be prepared for objections to conditions Referral Partner Communication • Be thorough • Be mindful of prospect privacy • Be timely • Anticipate issues and offer proactive solutions Seek Constant Feedback • Communicate regularly to surface issues that would otherwise go unnoticed

uoting and providing a consultation needs to follow a specific path and Q involve certain actions to set yourself up for success.

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General areas of consumer concern or where they may have false assumptions that hurt them:

Customer believes their credit score or FICO is too low

Customer believes their student loans make them ineligible to buy a home

Customer believes the home they can afford requires too much work

Customer believes they don’t have enough money for a down payment

How Can We Improve the Customer’s Experience in Our Industry?

EDUCATE!

Communicate with clients and other parties often and effectively

Keep customers informed of any changes such as rate or fees throughout the process

Maintain transaction “on time” as much as possible

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Download Customer Objection Scripts

Ready to apply your knowledge? Take Module 6 Survey Assessment

Want to continue the conversation? Join Chatter Here

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Loan Experience

07 MODULE

With UBER and Amazon experiences delighting our customers, it’s imperative the mortgage “experience” be a crafted and intentional process full of transparency and clear expectations. This module showcases how to leverage the melloTM ecosystem to delight our customers. It also provides a repeatable process for guiding our customers through their loan experience.

Assessment

Perform an assessment of the current mortgage experience you take a customer through: How do you control communication? Is it regular? Is it automated?

Who is updated when? What are your deliverables?

Is there a specific mortgage journey they follow?

What Creates a Great Customer Experience?

TRANSPARANCY: Everything needs to be accessible and visible in real time/live instant status access on any device

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PROMPT FOLLOW UP:

ON TIME DELIVERABLES:

1 hour call backs

Acknowledgments on sent/received items

DILIGENCE: Accurate numbers and documents

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PRO TIP:

Think Like the Customer!

You need to think like the client and realize what it feels like to be them. That can help you better manage transaction expectations because you see more of what they want and why.

Needs List Process • Universal language for all requested items

— Need to define these for all loans and needs lists

• Shared access from all parties in BCD

— Fix the problem of having to enter everyone's name in every time

TAKEAWAY

• Instant review of docs and recognition to customer that docs were sent in

• Daily updates to all parties

— Realtors get generic info not specific needs list items

— Also based on customer specified communication plan

Push Notifications of Events Daily Email Weekly Call Texts

successful journey starts with a detailed plan, working from point of A origination forward and backward from requested close of date.

YOUR TRANSACTION PLAN CLIENT WORKSHEET Build out a plan and map each transaction from start to funding, sending this sheet to each member of the transaction, every week. When you do so, update the dates from projected to confirmed.

In order to ensure smooth communication between every party of the transaction, we recommend you fill this worksheet in its entirety and distribute by email every Friday. This way you can set expectations about dates and keep everyone informed in the process. This is essentially your proactive communication tool to align all parties of the transaction.

Download Transaction Plan Sheet

Ready to apply your knowledge? Take Module 7 Survey Assessment

Want to continue the conversation? Join Chatter Here

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08 MODULE

RELATIONSHIP for Life

This day and age, transitioning a “transactional” relationship into a real relationship takes tremendous effort after the closing of a loan. Gone are the days of generic monthly newsletters and eBlasts of someone’s cookie recipe. Today, extreme intentionality must be placed into efforts to deepen a connection with a customer who may not need your services again for 5-7 years or perhaps never again. This creates an opportunity to develop a plan to create stickiness and referral business from past customers.

Assessment

What activities are you currently practicing to build client relationships that last post-closing?

Customer Aquisition vs. Retention costs

5X It costs five times as much to attract a customer than to keep an existing one

5%

Customer Retention

25-95% 60-70% 5-20% Profit

Increasing customer retention by 5% increases profits by 25% to 95%.

Existing Customer

New Customer

The probability of selling to an existing customer is 60-70%, while selling to a new prospect is 5-20%.

Source: https://www.invespcro.com/blog/customer-acquisition-retention

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THE IDEAL POST-CLOSING EXPERIENCE

1. 1-5 Days Post-Closing a. Closing gift or experience + copy of docs + handwritten card + customizable actions such as:

i. Move-In Day “Welcome to your new home”

1. Pizza delivery/party, wine (drink of their choice), branded tool kit, loaner/moving truck, LD doormat with customer’s last name

ii. 5 day post move in “How’s the new home?”

1. Housewarming party, taco truck

2. Custom gifts (know your customer/family), LD branded

3. Neighborhood Experience Kit (food, interests, kid stuff, places, pet)

4. Address Labels

know your Clients!

TAKEAWAY

Craft the ideal post-closing customer experience to delight our customer, thank them for their business, and create a path forward to a deeper, more connected relationship.

Retain customers and build a loyal relationship with them, and thereby avoid customer acquisition costs.

PRO TIP:

Maintaining and building on the bonds you already have with your customers will help you truly succeed in the future.

iii. Pre move options “Are you ready for your big move?”

1. Moving boxes (branded), gift basket, etc.

2. 3-7 Days Post-Closing a. Business development call and follow-up email b. Key objectives:

i. Testimonial review follow up

1. Requested post approval in Loan Experience Module

ii. How to get Social Reviews

1. Request they share your business page + review of it

a. Connect with personal Facebook account if applicable

b. Personal brag post — share closing photo, fast close data, etc.

iii. Ask for referrals to grow your business

1. Including other Real Estate agents, CPAs, etc.

iv. Check-in with your customer

v. Look for leverage opportunities

1. LoanAdvantage Opportunity (HR), Lender Express, etc.

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3. 30 Days Post-Close Call Plus Email a. First payment explanation process

d. Ask for referrals

b. Servicing - What to expect

e. loanDepot Customer Satisfaction Survey

c. Check-in

4. Continuation of IMPORTANT EVENTS (IE) workflow a. Important Events workflow begins at the application and customer intake. The point of this strategy is to intentionally engage with our customers when it matters.

This can include new baby arrival, wedding, engagements, graduations, new job, anniversary etc.

Know your customer’s needs, interests, and what is truly important to them!

i. Important Life Events (ILE) 1. Birthdays a. Day before (first to wish “happy birthday”) 2. Wedding Anniversaries

Strategy Objectives

3. Kids Birthdays 4. Customer Appreciation Events a. See Local Marketing Module 5. Move-in-aversary

IMPORTANT EVENTS • Add value • Create action • Stay top of mind • Increase engagement • “We’re thinking of you”

6. 6-month Mortgage Review Call 7. Community Events and Marketing Updates

5. Monthly Keeping in Touch a. Baseline Minimum - Monthly LD branded email campaign

i. Additional improvements

1. Send a physical mailer every 2nd or 3rd month

2. Postcards or brief updates on the business or personal life updates

3. Coupons to favorite restaurants

Ready to apply your knowledge? Take Module 8 Survey Assessment

Want to continue the conversation? Join Chatter Here

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