Now is not the time to sit and wait for the best possible price. Have a serious talk with your real estate agent. Having experienced buying/selling transactions in your area, he or she can help you price your home accordingly. He or she can also help ensure that your buyers are pre-approved and stay pre-approved throughout the entire transaction.
Update your database information, Critique and improve your web page, Write a few "Thank You" notes or cards, Write a mortgage article for your website, Review and improve your advertising copy, Create a new direct mail piece or marketing flier, Write and send your press release to a media outlet, Schedule a lunch or two with your mortgage contacts, Write a mortgage "white paper" to be used as a give away.
The following Commandments did not come from any mountain, nor were they carved on clay tablets, but they have been known for countless years by Mortgage Professionals. Smart marketers have followed these common sense commandments because they know it will lead them directly to The Promised Land.
Thou shalt dedicate thyself to becoming the very best Mortgage Professional you can be. Thou shall be a virtual sponge and soak up everything related to your knowledge and improvement of your Mortgage Business. The more you learn, the more powerful you become, and the more powerful you become, the more effective you will be at originating mortgages.
Finally, there's an important concept to embrace: all markets, while cyclical in nature, are self-correcting, be it credit, real estate, stocks, or bonds. For the last 6 or 7 years, real estate was booming and riding high. The correction we're experiencing now " while it seems harsh and could get much worse " is, in a sense, "natural" and directly related to the extremely loose guidelines and perhaps overzealous lending and leveraging during the boom cycle. Thou shalt follow the 30 day contact rule. Your customers, prospects and advocates (those who refer business to you) should hear from you every 30 days without fail. You should call them, email them, and send them postcards, note cards, a newsletter, or mortgage news and happenings.
Thou shalt create and maintain a detailed Mortgage customer, prospect list, and contact list. Thou shall allocate time each week to maintaining and updating thy lists. For it is these lists that hold the customers that will be in your next mortgage pipeline and your pipeline for years to come.
This means that, for any Americans looking to buy, sell, or refinance a home, they are confronting a very different market from the one that existed just 6-12 months ago.
Thou shalt set aside time to build a web presence and spend a little time each day promoting your site and building your Mortgage Business. The Internet has come of age and you can either join and prosper as a result, or be left behind to ponder your demise.
These ideal lending conditions persisted for several years, supported by high demand, historical real estate data, home prices, and massive trading volume/profits on mortgage-backed securities and other financial instruments on Wall Street.
What does this mean to you and your mortgage?Sellers: If you're planning on selling your home, be prepared for an even smaller pool of qualified buyers. While some experts predict a settling of this credit crisis over the coming year, tightened credit guidelines and diminishing mortgage products could knock out as many as 15%-30% of potential qualified buyers.
Update your database information, Critique and improve your web page, Write a few "Thank You" notes or cards, Write a mortgage article for your website, Review and improve your advertising copy, Create a new direct mail piece or marketing flier, Write and send your press release to a media outlet, Schedule a lunch or two with your mortgage contacts, Write a mortgage "white paper" to be used as a give away.
The following Commandments did not come from any mountain, nor were they carved on clay tablets, but they have been known for countless years by Mortgage Professionals. Smart marketers have followed these common sense commandments because they know it will lead them directly to The Promised Land.
Thou shalt dedicate thyself to becoming the very best Mortgage Professional you can be. Thou shall be a virtual sponge and soak up everything related to your knowledge and improvement of your Mortgage Business. The more you learn, the more powerful you become, and the more powerful you become, the more effective you will be at originating mortgages.
Finally, there's an important concept to embrace: all markets, while cyclical in nature, are self-correcting, be it credit, real estate, stocks, or bonds. For the last 6 or 7 years, real estate was booming and riding high. The correction we're experiencing now " while it seems harsh and could get much worse " is, in a sense, "natural" and directly related to the extremely loose guidelines and perhaps overzealous lending and leveraging during the boom cycle. Thou shalt follow the 30 day contact rule. Your customers, prospects and advocates (those who refer business to you) should hear from you every 30 days without fail. You should call them, email them, and send them postcards, note cards, a newsletter, or mortgage news and happenings.
Thou shalt create and maintain a detailed Mortgage customer, prospect list, and contact list. Thou shall allocate time each week to maintaining and updating thy lists. For it is these lists that hold the customers that will be in your next mortgage pipeline and your pipeline for years to come.
This means that, for any Americans looking to buy, sell, or refinance a home, they are confronting a very different market from the one that existed just 6-12 months ago.
Thou shalt set aside time to build a web presence and spend a little time each day promoting your site and building your Mortgage Business. The Internet has come of age and you can either join and prosper as a result, or be left behind to ponder your demise.
These ideal lending conditions persisted for several years, supported by high demand, historical real estate data, home prices, and massive trading volume/profits on mortgage-backed securities and other financial instruments on Wall Street.
What does this mean to you and your mortgage?Sellers: If you're planning on selling your home, be prepared for an even smaller pool of qualified buyers. While some experts predict a settling of this credit crisis over the coming year, tightened credit guidelines and diminishing mortgage products could knock out as many as 15%-30% of potential qualified buyers.
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