November 11th, 2010 8:01 PM by Eric Fang
Talked to one of my clients today, and she asked me whichbook I am reading(most of my clients know me one way or another), I told her that I am workong on the book:Flip The funnel.
This is a book about how to use existing customers togain new ones. I think I am doing pretty well on this.And yes, I am still learning.
Basically I am already on referred based model now. And myfirst prioerty is how to rentain the existing clients and make them happy. I believe I serve them well with the bestrate and service.
I don't do loan origination all the time. I do loan locksonce a while, but not everyday. If you contact with mefor the rate quotes before, most of the time I will say "Let'swait for better rate". Some people will wait, some may work with other originators.
Though we can not predict the rate exactly(especially when event/policy driven, like QEII etc), most of thetime, I do know the rate trend. It does help to get better rates for my clients.
For the first 10 days of November, I only locked rates on 4th & 5th(a lot of them), which I think the rates were pretty good, and the rest of the time, I just work with lendersto get the file submitted.
The rate will go up and down(this is a trader's market),but we all know when we should lock. Be patient, we will work together to get the loans closed.
Don't forget, the rate will go down again starting Friday(12th).
And I am on floating boat again until the lower rates.