Crooked Mortgage Broker Tells All
November 30th, 2006 Categories: Mortgage Advice
I owned a mortgage brokerage, real estate brokerage and construction business for 6 years, where I taught others to systematically deceive people like you who desperately needed sound financing, advice, and marketing for their real estate. And you know what? In the eyes of my clients, I WAS A ROCK STAR.
I was pulling strings, cashing in favors, bending over backwards. But what they didn’t see was me driving to the office every day in a car worth more than some of their houses. What they didn’t know was the truth about how much my services were costing them at the time, or what they continue to cost them to this day.
We made sure my clients were comfortable in thinking they’d gotten the best deal possible. We all want to believe that, and all it takes is someone to feed the illusion. They assumed I had their interests at heart, but the fact was I worked for me. All brokers do.
Maybe you think you’re pretty sharp, that you know when you’re getting taken. Well, think again. I don’t care if yo
u’ve got a finance degree from Harvard and a 180 IQ, you’re no match for an individual trained in the art of what you don‘t know, and you have NO IDEA.
I’ve trained more than one cerebrally-challenged college drop-out saddled with student loans and a bar tab, and within a week he’s taking $10,000 scalps off people smarter than you or me. ‘He’ is employed at every real estate and mortgage brokerage in the industry. If that doesn’t scare you, I don’t know what will!
OK, The Messaging above officially stops here…
I’m a firm believer that if your message isn’t different, it’s dead. Now, if I was actually ‘doing’ business in line with the ‘Attention Marketing’ piece above, I would be castrated and have the results shoved down my throat.
The methodical marketing madness read above caters to the public perception of the industries I serve. You can’t tell me that after reading the above piece, it didn’t make you slightly mad or illicit some emotion… It may have validated alot of your preconceived beliefs about mortgage brokers, whether really correct or not.
Putting out that type of message resonates with consumers, not because of the words on the page but rather the experiences they have likely had or heard about. The piece above caused ‘click through’ and conversions at a substantially higher rate than:
Low Rates, Great Service, Fast Closings, Low Fess, 200 years combined experience, “I Really Care About You, Mr and Mrs Borrower”, approved with 50,000 lenders, “Were a Direct Lender!”
Not to mention the deceptive stuff.
Now, there is a very distinct onus I am placing on myself by marketing the message above. We must be at the ethically progressive forefront of mortgage industry business practices. To not be, would be suicidal.
Trust me, I get the 3rd and 4th degree regarding my ‘actual’ business practices, everyone wants to punch a hole in them….which is wonderful for business!
Part of our business approach is to comprehensively demonstrate how they will be working with the antithesis of The Rock Star so eloquently described above. We start by educating our clients on:
1) How this industry works.
2) The most practical options for their individual circumstances.
We give our clients a gun, bullets, and a license to kill, if we stray from our contracted promises.
They are empowered, not just mortgaged.
Our relationship is based on straight up communication and blunt honesty (or Transparency), the lack of, are the two problems consumers frequently cite when defining ‘Below Average Service’.
In reality we’re not doing anything revolutionary, assisting consumers to find sound mortgage services at a fair cost…it’s our marketing thats ‘remarkable’. Not that our service lags, but you just cant market service alone, it sounds like white noise.
Industry peers have said our marketing strategies ‘harm’ or ‘defame’ others in the industry.
If that’s the case, then I’m killing myself too, right? Any forthcoming broker can benefit from identifying the good from the bad and ugly and identifying up-front where they stand. So I disagree 
How many eyeballs are looking at you longer than the next guy or gal? If they see you, what are they looking at? Are you desirable or interesting at the point of first impression?
Or do you standout about as much as the invisible man?
Identify and research a niche. Market specifically to them and their needs, be different, ‘talk’ to them, surprise them, treat them with respect…and you’ll get as much ‘Attention’ as you can handle. And if your peers start talking about you, then you know you’ve got alot of eyeballs…. 
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