The expense of generating a lead is enormous! Estimates range from $ 300.00 to over $ 1,000.00 per qualified lead! Regardless of your estimate, there has been a recent study done by both the real estate industry and the national homebuilders’ association that nearly ½ of entire Internet inquiries go ignored!

The survey asked homebuyers what happened when they requested information on homes or mortgage financing via the web. Here are the results:

• 35% received a reply with several hours
• 13% received a reply within several days
• 52% received NO response at all

While many clients did receive replies via "auto-responders," over 50% received no follow up phone call of any kind.

If you co-market with a Realtor® or builder on their Internet site—I would recommend that you do some checking. Your agent or builder may be in the 52% category and you are losing valuable leads because your Internet partner is not even responding to the Internet leads.

Ask for the leads that they receive—regardless if they have inquired about financing! Offer to make some calls on their behalf. You’ll get a pretty good idea from the responses if you have been co-marketing with an agent who returns their phone calls.

So what does all of this tell you? There is a HUGE opportunity out there for you—by emailing or calling these Internet leads. Sit down with a Realtor® or builder. Offer to screen the Internet leads for them. You pass on the information that the client has requested about real estate and you provide the financing information. The synergy that you can create here is enormous. Are you leaving 50% of your income on the table? Someone is! Don’t let the Realtor® or builder control your income!

We encourage you to check out Cindy Douglas’ and David Reed’s articles this month that address this issue!

This is your last chance to enter our contest for the best and most unique title describing what you do—loan goddess, mortgage professor or cash-flow consultant, to give you some examples. The contest ends on January 2, 2003 and there are some really great prizes that will be awarded to the winners.

1^st Place – FREE Registration Fee for the TURN ON YOUR MILLION DOLLAR BRAIN III Workshop in Delray Beach, Florida on February 6-9, 2003.
www.MortgageSpeakersBureau.com/delraybeach.htm. ($895.00 value. Does not include transportation or hotel accommodations.)

2^nd Place – FREE, Online Seminar of your choice from www.LoanOfficerSeminars.com ($149.00 Value. Seminar must be chosen by July 1, 2003.)

3^rd Place – FREE 1-Year Subscription to www.LoanOfficerMagazine.com ($119.00 Value. Current subscribers will receive an additional year free.)

CLICK HERE to submit your entry. If you would like to read more about the contest, it’s more fully described in our editorial of December 5, 2002. (CLICK HERE to view.)

Since we started the magazine about 90 days ago, we have had over 1,000 readers. Thank you for subscribing! If you have an idea for an article, please let us know. If you would like to write a sales or marketing article, we’d love to hear from you.

I would appreciate your forwarding of the Website www.LoanOfficerMagazine.com to your fellow loan officers. The subscription price is only $119.00 per year and is published exclusively on-line, 24 times per year. As a special bonus, if you subscribe right now, you will receive a free audio CD by one a superstar originator, a free audio tape by Dave Hershman on "synergy" marketing, a copy of a Free Report on the Mistakes Buyers Make Shopping For a Mortgage, an audio CD titled, "Songs of Success: Positive Music That Inspires a Life of Winning" and a bonus of 2 extra months’ free. That’s 28 issues instead of 24! (CLICK HERE to subscribe).

We promise to have some exciting and unique marketing ideas for you in 2003 and look forward to helping you increase your business.

Thanks for viewing our magazine! We wish you an extremely successful and healthful 2003! Enjoy your holidays with family and friends. That’s what it’s all about.

Ciao – Karen Deis, Guerrilla Marketing Publisher