One of the beautiful thingsabout generating your own leads

I'm on vacation in NY but snuck away to a computer to post this blog about my loan mod lead generation- self-lead generation, more accurately.

I did a loan mod seminar the week I left town. At that seminar, I had a little north of 50 distressed homeowners show up and booked a handful of apointments (I apologize for not having the exact number at hand but hey, I'm on vacation! The no's are back in the office.)

What's cool is that I currently have six appointments tee'd up for the week I get back. They keep coming in because my marketing and lead generation system is chugging away even though I'm about 1,500 miles away from the office.

It's very comforting to know that I'll be ringing the cash register almost immediately after I get back!

Also when I get back, I'm going to host a webinar on the loan mod lead gen system - the "Loan Mod Warrior" system - sometime in the middle of July. Keep an eye out!

- Andy

Buying loan mod leads

I just googled "loan mod leads" and came up with 897,000 search results. That indicates to me that the market for loan modification lead sources is pretty amped up. But if you're a loan mod consultant, should you buy loan mod leads or concentrate on generating your own loan mod prospects?

There's no easy answer, since quality of lead can vary tremendously among loan mod lead companies.

Many loan mod lead companies have a nasty habit of selling the same loan mod name several times over. Meaning that even though you thought you had purchased an "exclusive" loan mod lead, it turned out that you were the sixth loan mod consultant to contact that lead.

How do you think your prospect feels about your call?

Contrast this with generating your own lead. I prefer this method. I hold one seminar each
month on the topic of loan modifications. I typically get between 35 to more than 100 loan mod prospects at each presentation, and anywhere from 3-8 loan mod clients out of each.

And I follow up with the leads who don't convert right away, sending them 1-2 emails per week for months. I pick up an extra one or two clients this way, plus referrals for other loan mod prospective clients.

The reason I love doing workshops is that I virtually competition-proof myself. In contrast to buying internet loan mod leads, where each loan mod consultant is hammering away at the prospect, saying virtually the same thing as the last caller, I'm in a different position.

By speaking, I've established credibility - a "halo effect" - that goes a long way with my prospects. I'm able to distinguish myself as an expert compared to all the other 'cold-calling' cowboys scattered across the country in non-descript cubicles.

When I finally sit down with each prospective loan mod client, they're already "pre-sold" on me and it makes it easier for me to close the sale.

I'm in the middle of putting together a "Loan Mod Warrior" marketing system for loan mod consultants who would like to close more deals or for the rank beginner looking to get into this explosive business.

Keep an eye on this blog for an announcement and more tips.

Should you offer a guarantee?

A lot of loan modification businesses guarantee their results - if they don't get the loan mod done, they give money back to the client. On its surface, this seems like a great policy to me - very pro-consumer.

But I'm not so sure this is the best idea. Watch this video to see why.

The "magic" question

There is one question I learned to ask each of my loan modification prospects that single-handedly tripled my close ratio.

Watch this short three minute video to see what I'm talking about!

How to Charge Your Loan Mod Client

Is there a more highly regulated, scrutinized business than the loan modification business? Possibly, but I can't think of one.

To stay out of hot water with the regulators, watch this video - I give you my opinion on how you should structure your fees.

What to say to your loan mod propect

You're worked hard to generate your loan mod lead, now it's time to see if you can help them. Your loan modification prospect under all sorts of pressure - here's a short video on the right way to speak with them.

How to gain credibility as a loan modification agent

If you are a loan modification consultant, you understand that you are not the only one solicting you your prospect. Your prospect is under a lot of pressure - practically as soon as he went "late" on his mortgage.

Watch this short video to learn how to establish credibility in your loan mod prospect's eyes.

Welcome to the Loan Mod Warrior

This Blog is designed to help ethical loan modification consultants grow their business via improved lead generation and sales techniques. The true Loan Mod Warrior is bound by a sense of duty and responsibility to assist struggling homeowners navigate all the b.s. surrounding loan modifications - the ever-changing rules, procedures and laws that serve to confuse consumers, loan modification firms, attorneys and the banks themselves.

Welcome to the Loan Mod Warrior.com!