Comp Reform is delayed!!!

From: Christopher Hart


Sent: Thursday, March 31, 2011 10:55 PM

To: Kevin Hughes; Ralph Hints; Mike Lamka; Jim Woodcock; Jim Ferrol; Dan Rawitch; Kat Hollowell; Jennifer Warmerdam

Subject: First Cal's acknowledgment of LO Comp STAY Order



Good evening,



At 7pm PST, this evening, the US Court of Appeals District of Columbia Circuit issued an emergency STAY regarding the implementation of the Loan Originator Compensation Rule, which was to be effective tomorrow morning.

The drama will continue until at least Tuesday April 5th, 2011.



This STAY has been verified of the last couple of hours and through multiple sources. Therefore, First Cal WILL NOT be enforcing our planned Comp Rules tomorrow.



We will be following the development of this Rule closely over the next couple of days. Let's focus our individual attention on executing upon WHY First Cal exists- To Redefine the Mortgage Industry. We do that when we originate loans into First Cal. So, let's keep originating!!



Chris Hart

Vice Chairman

President

ckhart@firstcal.net

Phone: 877.885.3262

Direct: 707.238.3737

Fax: 866.557.0096





Together we prosper®




Office Address: 5401 Old Redwood Highway N, Suite 250, Petaluma, CA 94954

Link to March 31st Coaching Webinar!

This was another great webinar and in fact was over subscribed!  We had 101 attendees on the call!  Here is the link, please share it with those that could not get on the call.  http://www.box.net/shared/zv1yjq3n9g

Coaching Call 3-24-11

Hi All,

Here it the link to the coaching webinar we conducted on 3-24-11. 
http://www.box.net/shared/3hioiiy25c

I hope you enjoy this webinar and find it helpful!

Compensation Reform Webinar

Hi All,

Here is the link to download our webinar on how First Cal will handle the comp changes on April 1st!

http://www.box.net/shared/itduae9ox9

5 Great New Social Media Strategies by Anne Hill

Most business owners understand the basic premise of social media marketing today, which is that linking your website to your company presence on other social networking hubs (such as LinkedIn, Facebook, and Twitter) is more effective than just getting a lot of SEO for your site. Consequently, I spend a lot of time advising small businesses on how to create and maintain their Facebook Pages, and how best to improve their LinkedIn presence.

However, there are some golden opportunities for creative marketing that haven't been widely adopted yet, that would be even more effective for many professionals. While all your competitors are concentrating on updating Facebook and LinkedIn, wouldn't it be fun to outshine them all by doing something completely different? Here are five new strategies for business marketing -- things that have only become possible quite recently, that will make your service or storefront even more relevant in a crowded field.

1. Claim your business profile on Yelp. If you have a storefront or office, you absolutely must list it on Yelp. Why? Because Yelp has a great mobile app that is very popular for finding products and services when you are on the road. It is quicker and easier to use than Google's iPhone search app, making your store hours, phone, and location instantly accessible to the large group of Yelp users.

When you sign up for Yelp and claim your business, you can interact with all of those users -- and Yelp gives you free swag you can display in your window, or add to your website to cross-link your site to its Yelp listing. Non-storefront businesses can also have profiles on Yelp, and can list up to 5 different cities they serve. Finally, consider writing reviews yourself. Leverage your deep knowledge of a locale or industry by writing helpful comments on relevant businesses, then create a widget on Yelp that you can place on your website, that will share your reviews with a wider audience.

2. Improve your business search results with a listing on Google Places. In its recent efforts to improve search results, Google now gives greater weight to local data, most notably from its own Google Places. The first step is to simply Google your company name, then locate it on the Google map for your area. Like Yelp, you then claim your business identity (creating a Google account if you don't already have one) and are able to add lots of information about your business.

Having a listing on Google Places will automatically bump up your business in a Google search, and filling it out is pretty straightforward. You can also correct any misplacement of your store location on GoogleMaps, which happens fairly frequently in rural areas. Being easily found on GoogleMaps is important, but you can also use Google Places to do the opposite and hide your company from view (by substituting a P.O. Box for a street address), if you work from your home and do not wish to divulge your residence to the world.

To continue reading click here

Coaching call from today 3-17-11

Great call with Andy Mason, Paul Johnson and Jeremy Forcier of First Cal.
http://www.box.net/shared/static/h0lk0q2zx3.wmv

This and the slides are also in the retail marketing box.net account. Have a great day!

The Top 10 Things Salespeople Shouldn’t Be Doing

The Top 10 Things Salespeople Shouldn’t Be Doing

March 15, 2011 by Bob Hill

1.Talking more than listening. There’s a reason we have two ears and one mouth. Salespeople who spend all their time talking give prospects no opportunity to explain what their true needs are and how to satisfy them, which leads us to …

2.Telling more than asking. If you want to determine who’s controlling the flow of conversation, look no further than the person asking all the questions. Salespeople who find themselves providing long, drawn out answers to the handful of questions prospects have aren’t only losing the prospect’s attention, they’re also prone to lose his/her business.

3.One-size-fits-all presentations. Mediocre salespeople spend their time explaining to prospects how they can offer the same type of value and benefits any one of their competitors can. Top performers go to great lengths to differentiate their offer, focusing on what they can provide that no one else can. They also tailor their key selling points to each prospect’s specific needs.

4.Mistaking big-name accounts for profitable ones. A stall is a stall is a stall is a stall. Salespeople need to prioritize their time and resources based on which buyers truly provide the most buying potential, rather than those whose companies have the biggest coffers. Six months wasted with the biggest prospect in the region is still six months wasted.

5.Information overload. Just the facts, please. Provide prospects with what they need to know to make an informed buying decision and save the rest for a rainy day (or subsequent meeting).

6.Granting concessions as a way to get deals done. Sure, there are some concessions that are necessary and positive. But the current state of the economy has transformed far too many salespeople into Monty Hall – entering every conceivable selling situation as if it were a game of “Let’s Make a Deal.” Concessions set a tone. They give prospects the impression they’re entitled to more than you’re offering. They make it increasingly more difficult to maintain a long-term buying relationship. They also diminish profit margins.

7.Assuming their responsibility ends once the initial deal is closed. Loyal customers aren’t only the lifeblood of an organizations, they’re tremendous, low-maintenance forms of repeat business (and commissions), as well as valuable sources for testimonials, referrals and feedback. Treat them with the respect they deserve, or they’ll treat you with the lack of respect you’ve earned.

8.Going from 0 to close in 60 seconds. Selling is a process, closing is the destination. But it takes time to get there. Skipping crucial steps, no matter how minor, could mean the difference between sale and fail. Slow down. If the prospect likes what you have to offer, closing the sale provides an opportunity to gain trust and build the relationship.

9.Resigning their prospecting efforts to one form of communication. Consider for a moment the people in your life who you maintain contact with on a regular basis. Chances are you have phone friends, text friends, e-mail friends, IM friends, direct mail friends, social networking friends and so on. Now consider this — prospects are people, too. Determine which mode of communication each one prefers, and use that to maintain contact on a regular basis.

10.Assuming a “no” today means “no” tomorrow. Be resilient. Build strong relationships with top prospects, especially those who have strong ties to other suppliers. When/if things go downhill, or they encounter an issue with their incumbent supplier, who do you think will be the first person they call?

Originally posted on http://www.businessbrief.com/the-top-10-things-salespeople-shouldnt-be-doing/

Recording from 3-10-11 Coaching Call

Larry Davis shared with us so many GREAT tidbits that are game changing if you follow them..

Thanks Larry! 

Here is the link to our call http://www.box.net/shared/hiprm0ifbu

3-10-11 Coaching Call Materials from Larry Davis

The materials Larry shared today on the call are on box.net, here is the link to the folder, http://www.box.net/shared/dzz0ttysth.

Happy Thursday!

March 3rd Coaching Call- Learn how to dig deeper and get more!

Hi All,

Here is the link to our March 3 coaching call!  I hope you will listen and commit to pushing yourself harder and achieving more out of life.  You only get one shot at this!

http://www.box.net/shared/a8r4yevzog

2011: Right Time to Buy a House?

By: Kalyan Nandy
March 1, 2011


Is 2011 a good year to buy a house if the pocket permits? Declining home prices and a low interest rate environment suggest that the time is just perfect. Also, many of economists expect housing prices to bottom in 2011.

So, if buyers have a secure job and the confidence to meet stricter lender requirements, it would probably be a wise decision to proceed.

To read the rest of the article click here.

Security, Privacy, Ethics: How To Get New Clients Now by Molly Dowdy

I’ve been sharing marketing advice here for the past several months, and I’m certain all of my columns have been critically important to you. I have strong suspicions, fantasies even, that your life has changed thanks to my tips for landing more referrals from real estate agents. My advice about e-mail marketing undoubtedly blew your mind and you are probably still recovering.

But this month, I feel an urgency to communicate with you effectively because time is of the essence and I strongly believe this topic will have a bigger impact on your business than any of my advice to date.

In marketing, there are specific periods in time where just the right message will be wildly successful. Stars have aligned. We call it a “sweet spot,” and there is a big one upon us right now. It is up to you to jump on it. If you were my child, I would hold your cheeks in my hands and look right into your eyes to make sure you are listening to this:

Right now, seize the opportunity to market yourself to borrowers with a message that focuses on security, privacy and ethics. You should unequivocally acknowledge the reputation that financial services and mortgage lending has in the minds of Americans right now, and differentiate yourself immediately. If you do it right, you will have more business than ever – more than you had during the boom. Even better, you’ll build a foundation that will sustain you during the next slump.

To help you, I have again put together some templates for you to use and customize for yourself. Visit http://www.alamode.com/index.php/mortgage/marketing-templates/ and grab the files you need for free.

To read the full article click here