Agent Support System

3 Replies

I have just started a mortgage business in Nothern CA and needed help & advice. Greatly appreciated. First, How and where can i get a 1099 form to issue to my agents? How can I provide an excellent support system for the agents beside traditional cold calling and direct mailing marketing champaign. How are internet leads? Any effective ideas to implement an excellent support system for my agents to consistently closed 3 to 4 deals a month? I'm grateful to have agents who can do both RE and Loan too. So I'm trying to keeping them happy. Your input greatly appreciated!!!

:D

You can get great software that will walk you thru most processes. I suggest calyx or genesis. As far as INTERNET LEADS, I would check out the link in my signature. They are established, been around for years. They start you out with FREE leads. Then you can deposit as little as $25 into an account to continue receiving FREE leads. The FREE leads are great quality lead sent out to several brokers in the area. The exclusive leads are cheap and priced based on the age of the lead.

Good Luck!

1099 form....

www.irs.gov

& FYI in my humble opinion(imho) as a former Multiple Business Owner(simultaneously) U need 2:
1-Hire a Book keeper/CPA w/extensive familiarity with our business (RE & MB'ing)
2-Hire a "Managing" broker w/ a MINIMUM of 5-10 yrs exp. & at least a few Managing Sales folks (that'll have Your office HUMMING!...Pay them an OVERRIDE on Business closed along w/a good salary on about a 50/50 split{read=no "comfort zone w/the salary, but enough not to Starve}.they'll MAKE things HAPPEN! U sit back & smile!)
3-Teach Your agents that Ethics/Attitude/Reputation is EVERYTHING!
Referrals are priceless & GUARANTEED if You treat the customer right (& no it's NOT all about "cheap fees"...it's about SERVICE & that includes followup AFTER the sale/financing/re-financing
4-Avoid the "fast Buck Artists" like the Plague!
EVERYONE U hire is a direct reflection of YOUR Ethics & Judgment
"Show me who U go with & I'll tell U what U are"--My Great Grandmother(God Rest Her Soul) & keep "controversy" out of the office place...period, ALWAYS.

do these things & U(along w/Your indepentent Contractors) can NOT Fail!
Worked 4 me & everybody I've known that tried it anyway;

&FYI finally
IF I was closing 3-4 transactions a month(only) when new in this biz(read=all small$'s) I'd have S-T-A-R-V-E-D!
In calif. it's GOT 2B the same way....
U want CLOSERS!
People knocking down 10-20 transactions a MONTH!
Pay them a HIGHER percentage, set up the support system(don't know what they need? ASK 'em!) & the heavy hitters will be walking in the door w/portfolios of private lenders, referral bases, etc. & be happy as clams!

EG:
I work for a broker that pays me 95% commissions, & charges $600. a month for admin fees. I get 100% of the processing & c/r & s&h from the HUD1, however I also have to PAY4those items myself. I'm happy as a pig in a mud wallow & so is he!
May not fit Your scenario at all, especially providing office space & overhead, however heavy hitters getting 75-80% based on PRODUCTION (all over 10k a month in fees=65%;allover 15k a month in fees-75%;allover 20k a month=80-85%,etc.) The PRODUCERS(read MONEY MAKERS) will be KNOCKING Down Your DOOR 2 get IN!
U get2smile all the way 2 the bank.
I've worked in places where if You weren't generating at LEAST 10k a month in FEES U didn't even GET a Desk!(& that was 5+ years ago, now it'd be $20k a month in Fees, again..MINIMUM!...not "fired"....just No Desk!)
"attaboys" don't go far in this business, if folks feel like they have U on their back 2 carry, they won't give U 100% ever. Dangle a Big FAT Carrot...& Katie Bar the DOOR, Here they come!
:D
Don't be "greedy" & U'll have WEALTH beyond Your wildest Dreams!
Betcha

I've tried a few different internet lead companies. My advice is to stay clear of companies that ask for money upfront or want to auto charge credit cards via electronic funds transfer. Also avoid closed in contracts for future services. One of the companies I have been fairly happy with is in my signature block. They provide free leads to get you started and then function on a pay-as-you-go system. They also have a great affiliate program and a liberal return policy in place for bogus leads.