What's Inside for November 2004
Alysia Talks about... Following Up
• Do you have a difficult time following up with your customers?
• Do you plan to call customers back after reviewing their credit and once you realize you cannot
help them you do not call them back?
• Do you promise to call borrowers then get overextended with your schedule and don't have time
to return calls?
• Do you intend to keep a calendar with follow up appointments and never get around to it?
Whatever the reasons are, not following up is costing you money.
LendingTree often hears from customers who request loans through LendingTree but then do not receive a follow up call from their Loan Officer. These customers speak with someone one time via email or phone and then do not hear back from the Loan Officer regarding their loan request.
Rate yourself on a scale of 1-10 (10 is best) on how you follow up with your leads on a daily basis. If you rate yourself a 10, you are perfect at following up and have no room for improvement in this category. If you rate yourself an 8 or below, consider how many more loans you will close once you organize your time and consistently follow up with your leads. Focus on following up with every customer for the next thirty days. Improving your follow up skills and yes, it is a learned skill, will enable you to be more efficient, productive and successful.
This requires organization and careful attention to detail. Use a daily planner, whether it is a computer calendar program or a paper calendar, to schedule your follow up call appointments. Expecting yourself to remember when to call who is misleading yourself and disappointing your customers. By keeping a planner current every day, it will enable you to consistently call back customers and maximize your time and energy. Everything you do in this business is costing you money or making you money. Failing to follow up with your borrowers is costly behavior to your integrity and your wallet.
Zig Ziglar, the famous author and motivational speaker said, “The most important persuasion tool you have in your entire arsenal is integrity.” Integrity is established by keeping your word. Follow up and follow through with your customers and you will be much more efficient, which will lead to greater success.
Happy Thanksgiving to all!LenderWeb Apex Tip of the Month
How do I create Tasks?
Tasks tab in the QF management page allows the user to create tasks to be completed. Click on create new task button and then enter:
• Date and Time in which you would like the Task to be completed by
• If you would like to set an Alarm (reminder)
• Determine the Priority (Low, Normal, or High)
• Determine Type (Decision, Email, Fax, Mail, Management, Phone, Reporting, Response Required or Other)
• Determine Status (Cancelled, Completed, In Progress, Not Started, On Hold or Waiting For Feedback)
• Fill in the Description (example may be, “Mail GFE and TIL”). When Task is displayed throughout Apex, the description
will show the first 50 characters.
ADE Tip of the Month
Do you wonder, “How can I tell what price adjustments ADE gave a QF?” Offers made by ADE tell you what it includes. All you have to do is check. First, click on the Offer(s) tab. Then, when looking at the offer, click on Adjustments to see what price adjustments have been pre-programmed into your ADE setup and applied based the specific parameters of the QF. If you have questions regarding the specific adjustments included, see the ADE contact in your office.
Remember, if you have a security issue, contact your Relationship Manager. If you have technical issues, please contact Lender Technical Services at LTS@lendingtree.com or by phone at 704-943-8686.
As always, if you have questions or suggestions for topics, email us at ADE@lendingtree.com.
Use "Find a REALTOR®" to Close More Loans!
Take a moment to think about the way you currently work with purchase referrals.
Do you recommend the LendingTree “Find a REALTOR®” program?
Our data shows that:
• Lenders close 2 out of 100 purchase referrals when they DO NOT make a “Find A REALTOR®” referral.
• Lenders close 10 out of 100 purchase referrals when they DO make a “Find A REALTOR®” referral.
Do you let customers without a REALTOR® go find a REALTOR® on their own? If so, our data shows that:
• If you find a REALTOR® for your customer, you are 5 times more likely to close that customer than if you let them
find their own REALTOR®.
Do you focus on the purchase QFs who do not have a REALTOR®?
• If you find the REALTOR® for your customer, you are 2.5 times more likely to close the customer than those you receive
who have already finished the home finding process.
Do you focus on the purchase QFs that already have a REALTOR® Home and Sales Contract?
• Lenders close 4 out of 100 purchase referrals for customers who already have a REALTOR® Home and Sales Contract,
but close 10 out of 100 purchase referrals when they DO make a “Find A REALTOR®” referral.
The final Sales Excellence Workshop for 2004 will be held on Thursday, December 9, 2004 in Detroit, Michigan.
December 9th, 2004 ~ 9:00-5:00 (registration begins at 8:00 am)
Location:
Marriott Detroit Southfield
27033 Northwestern Highway
Southfield, MI 48034
(248)356-7400
Led by Alysia Nealon, Director of Sales Training Programs, this all-day, interactive, comprehensive program is designed to help motivate Loan Officers and present them with proven strategies for success.
Cost for attending this event is $275 per person and includes lunch and all workshop materials. For more information about all of our Loan Officer training programs or to register for the session, go to www.lendingtreetraining.com.
LendingTree Lender Scorecard
Did you know that potential consumers use the LendingTree Lender Scorecard to find out how their Lenders were rated by other LendingTree consumers?
What is the Lender Scorecard?
The Lender Scorecard introduces consumers to Lenders on our Network. Surveys show that consumer confidence increases dramatically through use of the Lender Scorecard because it:
• Helps consumers become comfortable with
the Lenders on our Exchange;
• Drives close rates; and
• Provides access to Certified Loan Officer
program information
Consumers are able to view the Lender Scorecard using a “Lender Scorecard" link located at the top of the LendingTree home page at http://www.lendingtree.com.
The following information is displayed on the home page of the Lender Scorecard:
• Scores for the last 30 and 90 days, allowing Lenders to quickly show improvement in their scores
The lifetime score is also included
• Includes Certified Loan Officer link
• Indicates if a Lender is new or chooses not to display scores
In addition, when consumers drill down on a Lender name, they find the following information:
Lender Profile
• Provides marketing information provided by each Lender
• Includes the text, "On LendingTree Network since <year>" for each Lender
Consumer Rating
• Scores are displayed in real time: no manual intervention required
• Scores are calculated based on every consumer response received
• Lenders must have at least 3 survey entries for scores to be displayed
Certified LendingTree Loan Officer
• Recipients of the prestigious Gold Leaf Seal award are recognized in each Lender Profile
• Certified Loan Officer names will be updated twice annually
In addition to helping our customers gain a higher level of trust with our Lenders, the Lender Scorecard offers multiple benefits for Lenders and Loan Officers. Since scores are now automated, Lender scores are updated in real time. This ensures that each Lender's scores are accurate and up-to-date. Also, scores from the last 30 and 90 days are displayed to show each Lender's track record over time.
Loan Officer Kudos - Where LendingTree Customers Say Thank You!
Here are some (in reality there is just one here, not some) direct customer comments received by our Customer Care team! Keep up the good work!
Hello, I just wanted to let you know what an awesome experience I've had going through Lending Tree & then working with Centex Home Equity. I tried using my own bank, and wasted about 3 1/2 months. It took just a little over a month, and I was able to receive a great home equity loan. I've told family, friends, colleagues & associates about LendingTree, and will continue to do so. You help people like me achieve our goals, and you do so in a professional & fast manner. I cannot say enough good things about Jason at Centex; patient, polite & absolutely professional. He worked very hard to make sure I had everything I needed, and checked in constantly to make sure things were going smoothly. I would highly recommend Centex any day of the week.
Elizabeth B.
Home Equity
Bernalillo, NM
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LendingTree in the News
Check out these great articles on LendingTree!
Save the Date - 2nd LendingTree Loan Officer Sales Rally!
Save the Date – 2nd LendingTree Loan Officer Sales Rally
For more information about the 2nd LendingTree Loan Officer Sales Rally, please visit our website at www.lendingtreesalesrally.com! We hope to see you there!
REALTOR® -- A registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and subscribes to its strict Code of Ethics.