Client Testimonials and how they can help your business success.....Marketing Tips 2015

Testimonials:
How to Market Success

Testimonials are not about bragging or tooting your own horn. Sharing your successes with your client base and associates is an essential part of growing your business and your reputation within the community. And a great way to do this is by utilizing testimonials in your marketing efforts. Not only do testimonials get attention, they can also create a sense of confidence in the idea of doing business with you.


The following are a few simple steps for gathering positive feedback from your clients:

• When clients thank you for completing a phenomenal deal, ask them to write a testimonial for you about their experience.
• If they're too busy to write it themselves, write it for them. Then have them simply approve and sign it.
• Make sure you secure their permission to use the testimonial in your marketing efforts.
• Create a file with as wide a variety of testimonials to draw from as possible.

Now it's time to leverage what you've gathered. Dr. Robert Cialdini, best-selling author and nationally-recognized researcher, has analyzed data on this topic and has discovered that the biggest and best testimonials are not always the most persuasive when it comes to increasing business.

Instead, Cialdini suggests that finding the right testimonial, one that your clients can strongly relate to, is much more effective in creating confidence. Cialdini believes that by obtaining testimonials from an array of clients, you'll create a diverse collection of simple, yet effective marketing messages that will hit the specific bull's-eye for each and every potential client.

For example, let's say you were to use a testimonial as part of a direct-mail flyer to first-time home buyers and, in your testimonial, your satisfied clients wrote about how you helped them build the retirement home of their dreams. Although your clients may have raved about your ability in that transaction, the message doesn't fit the specific needs and desires of a first-time borrower. Instead, select from your library of testimonials something that addresses the well-known fears of the home-buying process and how you were able to solve them. Something more like this:
"I was nervous about buying my first home, unsure if I could make the leap from renting to owning. But, thanks to John Real Estate Agent, I'm finally living the American Dream."
 

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Why you should choose Finance of America for your Home Lending needs.....

I provide lending solutions for purchasers of primary, secondary and investment properties located in North Carolina. I also work with current homeowners in need of refinancing primary, second homes, investment properties.

"Putting Customers First" is our motto. We pride ourselves on providing superior customer service and creating satisfied customers. We work hard to satisfy the mortgage needs and exceed the expectations of our customers. Lower mortgage costs through cutting-edge mortgage origination technology our customers save money and close their loans quickly because we employ the most advanced mortgage technology available. In a rush? We welcome you to try our mortgage calculators! The Internet, advanced mortgage processing software, and automated mortgage underwriting systems are coordinated to speed the mortgage process and deliver the best rate and terms. Highest Quality Mortgage Services (HQMS) from mortgage processing and underwriting, to loan closing and funding, our expert mortgage staff will efficiently expedite your entire transaction. We'll keep you informed every step of the way. We're committed to building rewarding, long-term customer relationships. With that in mind, you'll receive the highest quality mortgage services. Meeting Every Challenge we rapidly respond to new opportunities made available in today's dynamic mortgage markets. As a result, the requirements of our mortgage customers are consistently met through mortgage underwriting flexibility and delivery of unique mortgage programs. We often identify niche mortgage programs that are essential to satisfying individual mortgage customer needs.

Specialties

• Residential
• Relocation
• Condos/Townhomes
• Luxury Homes
• REO/Bank Owned
• Investment Properties
• Short Sales
• Vacation/Resort Properties
• Oceanfront/Investment
• Self Employed Borrowers

"The mission of Finance of America Mortgage is to be America’s preferred choice for home financing options by being the industry leader in responsible lending."

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Mortgage Insurance..Why do you need it on a Home Loan? What is Mortgage Insurance?

Typically, borrowers making a down payment of less than 20 percent of the purchase price of the home will need to pay for mortgage insurance. Mortgage insurance lowers the risk to the lender of making a loan to you, so you can qualify for a loan that you might not otherwise be able to get. But, it increases the cost of your loan. If you are required to pay mortgage insurance, it will be included in your total monthly payment that you make to your lender, your costs at closing, or both.

Warning: Mortgage insurance, no matter what kind, protects the lender –  not you –  in the event that you fall behind on your payments. If you fall behind, your credit score may suffer and you can lose your home through foreclosure.

There are several different kinds of loans available to borrowers with low down payments. Depending on what kind of loan you get, you’ll pay for mortgage insurance in different ways:

If you get a conventional loan, your lender will arrange for mortgage insurance with a private company. Private Insurance rates vary by down payment amount and credit score but are generally cheaper than FHA rates for borrowers with good credit. Most private mortgage insurance is paid monthly, with little or no initial payment required at closing.

If you get a Federal Housing Administration (FHA) loan, your mortgage insurance premiums are paid to the Federal Housing Administration (FHA). FHA mortgage insurance is required for all FHA loans.  It costs the same no matter your credit score, with only a slight increase in price for down payments less than five percent. FHA mortgage insurance includes both an upfront cost, paid as part of your closing costs, and a monthly cost, included in your monthly payment.

If you don’t have enough cash on hand to pay the upfront fee, you are allowed to roll the fee into your mortgage instead of paying it out of pocket.  If you do this, your loan amount and the overall cost of your loan will increase.

If you get a US Department of Agriculture (USDA) loan, the program is similar to the Federal Housing Administration, but typically cheaper. You’ll pay for the insurance both at closing and as part of your monthly payment.  Like with FHA loans, you can roll the upfront portion of the insurance premium into your mortgage instead of paying it out of pocket, but doing so increases both your loan amount and your overall costs.

If you get a Department of Veterans’ Affairs (VA) loan,  the VA guarantee replaces mortgage insurance, and functions similarly.  With VA loans, there is no monthly mortgage insurance premium. However, you will pay an upfront “funding fee.” The amount of that fee varies based on:

• Your type of military service
• Your down payment amount
• Your disability status
• Whether you’re buying a home or refinancing
• Whether this is your first VA loan, or you’ve had a VA loan before

Like with FHA and USDA loans, you can roll the upfront fee into your mortgage instead of paying it out of pocket, but doing so increases both your loan amount and your overall costs.

Tip: Once you’ve paid off some of your loan, you may be eligible to cancel your mortgage insurance. If you are able to cancel, you won’t have to pay the monthly cost.   

Warning: As an alternative to mortgage insurance, some lenders may offer what is known as a “piggyback” second mortgage. This option may be marketed as being cheaper for the borrower, but that doesn’t necessarily mean it is. Always compare the total cost before making a final decision.

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How Baby Boomers can benefit from Reverse Mortgages by generating more income during retirement....

 

 

Baby Boomers Retire
Reverse Mortgages Gain Popularity

 
 
Born between 1946-1964, the generation known as the Baby Boomers will begin to retire in large numbers, substantially shrinking the labor force in the US. As a result, Social Security, Medicare, and other government programs will be significantly affected over the next several years. In fact, the Social Security Advisory Board (SSAB) estimates that, by 2030, about 20% of the American population will be 65 years old or older.

With rising costs of living and a dwindling budget to accommodate the elderly and disabled, we will see increased usage of the reverse mortgage. This loan allows equity to be taken out of the home to meet day-to-day expenses, and was designed in the late 1980s to help those who owned property, but lacked sufficient income to live on. However, there are benefits and disadvantages to be considered before going into this type of loan.

In most loan scenarios a home will go into foreclosure if payment is not made. If payments are made, the debt decreases and equity increases. The opposite holds true for a reverse mortgage; equity is taken out of the home to sustain the family, causing debt to increase while equity decreases. There is an exception - if the actual value of the home increases, less equity will be lost overall.

Most reverse mortgages are set up so there is no monthly payment as long as the owner resides in the home. There are no minimum income requirements, and the money can be used for any purpose. Equity disbursed from this type of loan is tax-free. Depending on the type of plan, reverse mortgages will usually allow the owner to retain the title to the property until they have lived in a different residence for 12 months, sold the property, died, or the end of the loan term has been reached.

On the flip side, reverse mortgages can be more costly than a normal equity loan. Interest is added to the principal balance each month, and the amount of interest owed is compounded over time. The interest will not be tax deductible until the loan is paid off, in part or in full. Also, since the reverse mortgage uses equity in the property, this constitutes a loss of assets one could pass on to heirs.

The Federal Trade Commission warns of abuse with this type of loan, as they have received reports of predatory lenders taking advantage of the elderly. It is best for the individual interested in a reverse mortgage to research and obtain counsel from reputable sources.* HUD does not recommend consulting an estate planning service to obtain a referral to a lender. HUD provides this information free to the public. Even if the home loan was not originally an FHA loan, the reverse mortgage can be federally secured.

*Visit the HUD page on this subject at http://www.hud.gov/offices/hsg/sfh/hecm/rmtopten.cfm, consult AARP (American Association of Retired Persons) at http://www.aarp.org, and the National Center for Home Equity Conversion at http://www.reverse.org.

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"Why are First Impressions so important? Things you should know today to be more successful......

Director of First Impressions
Using Voicemail to Start Off Right

 

Have you ever stopped to consider how many times a new prospect gets your voicemail before they have a chance to speak directly with you? Your voicemail greeting provides an excellent opportunity to create a first impression that can have an enormous impact on whether people decide to use your services. It can also be used as a dynamic marketing tool.

If the first time you called a CPA, Financial Planner, or Real Estate Agent, you heard a voicemail greeting that was energetic, educational and professional, wouldn't that set the proper tone for the rest of the relationship? Very few people take into consideration the full potential of the voicemail greeting!

Here are some suggestions for creative use of your voice message:
 
Leave your schedule for the day, including the time of day you can be expected to return calls.
Most people don't mind leaving a voicemail message if they know when you will be returning the call. This shows that you are very professional, organized, and busy in your daily practices. It makes it crystal clear that you've taken the time to structure your day.

Assess what would be important to a prospect that is calling you for the first time.
What would they want to know about you? What would they want to know about your profession? If you seek to teach in every interaction and form of communication that you have with people, you will be wildly successful regardless of what business you are in. If you are a Real Estate Agent, discuss the market trends in your local community over the past 30 to 60 days. If you are a CPA, share any new or potential changes in tax laws that might be hot topics in the news.

Use your voicemail greeting to promote philanthropic activities.
Announce activities you are involved in with your church, school district, clubs or other organizations. This creates a lasting impression that you are deeply rooted in the community.

Give people optional ways of communicating with you.
Provide your email address. Leave an alternative contact should they require immediate assistance, and be sure they know how to bypass the message and transfer to another extension within your system. 

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Win the War Against Clutter
Streamline Your Workspace

 

As the saying goes, "A cluttered desk is the sign of a cluttered mind." How can prospects or clients have any faith in your ability to work on their behalf, if they see a desk overflowing with paper? Or, in this computer age, if they visit your office and watch you spend valuable time sifting through emails and folders, trying to locate pertinent information regarding their account?

To the client, a lack of organization projects a negative image. It symbolically waves a distress flag, which could cause them to run in the opposite direction. Take some basic steps to alter the appearance of an overcrowded, unorganized work environment and help fend off clutter.

If you have an assistant, delegate some of your responsibilities to free up some of your time. Remember, "No man (or woman) is an island." For your purpose, that means mail can be opened and prioritized by an administrative assistant, while you tend to other business. Some bosses even arrange for their office assistant to have access to their email inbox.

If you work alone, then you must handle every facet of your business. Schedule a consistent time each day for opening both mail delivered by the post office and email, and respond immediately whenever possible to get it off your plate. File correspondence systematically so you know exactly where to find it in the blink of an eye. Record notes on a hand-held recorder to follow up on loose ends.

Author and efficiency expert Maria Gracia offers simple organizing solutions.* She says regardless of your business stature, whether management, sales staff or administrative assistant, better organization saves time and increases productivity.

Garcia notes the importance of learning to say "no." Some people extend themselves beyond reason, then fall short and appear inadequate. But time, like office space, can become cluttered or overburdened, especially for Real Estate professionals, lenders and others who rely on networking as a means of advancing their businesses.

She also advises her readers not to feel obligated to say "yes" to everyone who asks for a favor. In other words, don't over-commit. Be selective when it comes to volunteering time and energy. You can offer to assist with a small portion of a project, but don't agree to organize the entire event. And, if you're truly in a time crunch and can't possibly help, politely, but firmly, just say "no." That will earn you greater respect as someone who can organize time and space.

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