What You Need to Know About Appraisals: Our Exclusive Interview with Brian Coester

[ad#Network Funding]

[vimeo id=”54638174″ width=”625″ height=”352″]


We spoke with Brian Coester, CEO & founder of Coester Appraisals. We discuss if home values have really hit the bottom? Which markets are doing well and which are still struggling. The shadow inventory of foreclosures and banks releasing them into the market as well as how to help protect reverse mortgage borrowers from spending too much when their value is uncertain.

 

STOP, LOOK & LISTEN

“What is the highest and most valuable activity I can be doing right now?”. How can we define a ‘high-value’ activity? It is those activites that increase our bottom line, income or sales volume. That is prospecting, making calls, addressing underwriting conditions, etc. Before you jump in with both feet there are a few considerations. One- How much time do you have…”

Continue reading

What’s going on in MY market?

[ad#Independence Housing Group]

[vimeo id=”54049922″ width=”625″ height=”352″]

In part two of our interview with Reverse Market Insight’s president John Lunde, we look at how you can get detailed information about your local reverse mortgage market. Who is my competition? How many loans are being closed in my area? These and other questions are answered.

 

Mastering Fear in a Changing Market

[ad#Kirchmeyer]

[vimeo id=”53978853″ width=”625″ height=”352″]
Fear often is the result of change….change thrust upon us unexpectedly. The trick is not to conquer fear but master it.  The only thing that is constant in our industry is change itself but it is how we master our fears that determines our ultimate professional destiny. A look at how to face and master our professional fears

Who converts faster?

When it comes to leads the most popular discussions center on what’s the best type of lead.  The merits of lead sources could be debated endlessly since there are a variety of factors that come into play and all salespeople are not created equal. Assuming you are already purchasing or committed to buying reverse mortgage leads have you ever asked “Which leads convert faster?”. In other words who is more likely to become a closed loan more quickly?

Reverse Mortgage Leads Conversion

Lenders using the call center (centralized model) often field lead inquiries from both television and the internet. So who converts to from a prospect to a bonafide borrower more quickly? Internet leads. Television leads give great exposure and often motivate the mildly curious to call requesting more information. It’s more of a precursory look into the product with little commitment on the part of the viewer. Contrast this with leads from the internet. These trend toward serious prospects who are looking to make a decision in the near future and they are committed enough to enter in some basic personal information.

Both internet and television leads have there place in an overall marketing plan but care and attention should be given to the timeframes of investment and return. Successful marketers not only purchase one campaign, but several knowing their lead conversion ratios and future income. Another key element is tracking and followup. Disciplined use of a CRM (Customer Relationship Manager) is key in nurturing leads into closed loans.

Both TV and internet are effective lead generators. The trick is to draw from both and execute your own carefully thought out marketing and follow up plan. What’s your plan for leads in 2013?

The new longevity. Does it mean working forever?

We’re living longer, and generally healthier, than ever before in history. And while that’s good news overall, it can completely alter the trajectory of retirement, unless seniors are aware of their potential longevity and begin to plan accordingly in their pre-retirement years.

Continue reading

What if they move my cheese?

With expected yet unknown changes to the HECM program, FHA may ‘move the cheese’. In today’s risk-adverse environment FHA is focusing on the fixed rate product. Publically they are concerned if it serves the HECM program’s original intent and purpose. But privately one could speculate that the full lump sum withdrawals of the fixed rate are seen as increasingly risky loans to an already underfunded MMI fund.

Continue reading

Six Questions to Ask Seniors

Even for “glass-half-full” people, the prospect of growing older might not be exclusively joy-filled. For others, it can be downright frightening: what if I get sick? Suppose I run out of money? Yet with all the issues that accompany aging, few of us want to face head-on the realities that the latter decades of life entail. Here are six questions you can…

Continue reading