Finding success in the mortgage business takes a down-to-earth approach and the mind set to see each client as a referral source, according to a new mortgage marketing and sales book.
The Dreammaker's Manual For Mortgage Lending! -- An Instruction Manual for Making a Great Living in the Mortgage Business takes a personal look at what appears to have worked for its author Wes Cordeau.
For those contemplating a career in the mortgage industry, Cordeau, the owner of a mortgage company in Houston for almost 14 years makes a compelling case that anyone can make a fantastic living just by following the advice given in his book.
The 170-page paperback book is loaded with marketing ideas, some refreshing and others that are a bit overboard; filling candy jars weekly at the realty offices, taking donuts every other morning and handing out long-stemmed roses to the receptionists, for example.
The book is peppered with anecdotes and problem-solving situations depicting his humble demeanor with a focus on customer-service that is never ending; from playing his client's favorite music when they come in, to offering flowers and chocolates as a truce to the manager of a realty office whom he offended.
Other marketing ideas to use with Realtors include caravanning the agents on a tour of listings, sponsoring an Open House and handing out Payday candy bars after a closing.
His main focus appears to be that people come first and the customer is king.
"It is our job to smooth out the wrinkles and ruffled feathers of all the players," Cordeau wrote. "Each borrower must be made to feel that they are the only transaction you have in process right now."
Cordeau gives an overview of the basics in great detail; of how to qualify the applicant, take a loan application and complete necessary documentation. He uses various real-life scenarios to explain how to deal with a variety of applicants and financial complexities, as well as, advice on working with wholesale lenders.
With regards to his company's achievements, Cordeau said he has had great success using the "By Referral Only" process, having implemented many of the marketing techniques and strategies adopted from the group he has built a referral business.
He also places great emphasis on using compassion, patience and common sense when it comes to dealing with his applicants.
"Think of the application process this way," he said. "How would you want your elderly grandmother treated? Then treat each person the same way!"