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Free Mortgage Broker Training
[July 14, 2008] by Broker-Trainer
Filed under: Free Mortgage Broker Training

Over my last several posts, I’ve introduced some business starting tips and also the basics of marketing for a preforeclosure based business, one that can produce thousands in profits. I’ve also mentioned what you may already see as an obvious reality, that being the current challenges in working the mortgage business. After all, what are the formal mortgage broker training, attendance at mortgage seminars, and time and effort that you’ve put in doing for you now? There has to be something else in today’s market. As someone who has had mortgage loan training and who I’m sure pays attention to the news and realizes how many foreclosures are out there right now, aren’t you ready to learn how you can effectively market to new clients, profit from the current real estate economy and, in doing so, earn 10 times what you would make for simply originating a loan?

In my discussions with you, I’ve also introduced my system for working this business that works and that works consistently! If you really think about it, a foreclosure investment course (or any real estate investment course for that matter) should focus on giving you repeatable results, not just something that may work for a few select people.

Now, let’s continue this next series of posts, which starts an important series on prescreening preforeclosure sellers. Since we’ve now covered both business basics and marketing, let’s start this section by quickly reviewing all of the topics that will be covered over the next several posts.

What is prescreening?
Sales and Negotiation Part I – How you come across
Sales and Negotiation Part II – Information is king
Sales and Negotiation Part III – Persuasion and rejection
Handling objections
Summary- statements that get results

Trust me when I tell you that your real estate investment business is only as effective as how you screen your prospective clients and then convince them that you offer them the best solution for their needs. This is particularly true when you are working with pre foreclosures. For this reason, the next handful or more of posts will be very important to your overall success. Now, let’s go into the heart of this session..

Once you have put your marketing plan into action and the phone starts ringing, this is when the pre foreclosure ‘action’ really begins! Naturally, you may be wondering what you need to do when the phone does start ringing, right? This can be a huge hang up for many investors and I’m happy to tell you that it is something that you can do and do successfully.

Free Mortgage Broker Training

The art of prescreening sellers starts with understanding what is going on in the seller’s mind. Remember that they are calling you in most cases. Why are they doing this? There are two main reasons for this.

First, your marketing has likely tapped into the seller’s emotions. They are hurting and something about your message has literally touched a nerve (in a good way, of course). Second, you have stimulated the seller’s curiosity. If they are willing to call you, chances are they would like to hear more about your program and how it might be able to help them with their pre foreclosure situation.

Once you realize that a seller’s interest in you has both informational and emotional elements, this will help shape how you interact with them. You need to press both of these ‘buttons’ to get the best results. With that in mind, I suggest a three-phase approach to interacting with pre foreclosure sellers.

The first phase involves attitude and how you come across to your sellers. Success in this phase will satisfy the seller’s emotional interest in what you have to offer and will be discussed in more detail in next week’s lesson.

The second phase concerns the power of gathering information and will naturally address your seller’s curiosity about what you can actually do to help them.

The third and perhaps most critical phase is what I like to call a ‘closing phase’ where you are working to get the seller to commit to action. This is something you do throughout the process, and will also be discussed in a later lesson within this section of posts you’ll see from me.

I’m sure you can now see how important prescreening will be to your business and also how my free foreclosure investment course allows you to follow this business at a pace that matches your lifestyle. Since you are in the mortgage lending business already, the idea of screening for ideal clients should be something that you are well on top of, again a huge advantage you have over other investors. The mortgage lending business is intimately tied to real estate and puts you in a great position to profit from the booming preforeclosure market. Please take the time to review the action steps and tips from all of my recent posts and make sure you’ve paid attention because we’re going to move onward and forward and I want you to be in an ideal position to act upon what you are learning. Stay tuned, I have so much more to share with you, and all the best to you in success.

D.C. Fawcett

The Short Sale Expert to Mortgage Brokers

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