Ask for Referrals And Get the Answer You Want!

Too often, people are frightened of asking for referrals. Is it the fear of rejection, or are they concerned about annoying their prized clients? If you're providing truly exemplary service, you shouldn't be ashamed to ask for the opportunity to provide that same service to other people your clients know! In fact, it should be the next natural step after asking a client how the service was.

The way you ask this question, however, is very important. Open-ended questions help people to brainstorm, instead of giving them the chance for a simple "Yes" or "No" answer. Instead of asking, "Do you know anyone else who could use my services?" ask, "Who do you know who could use my services?" The difference in how they respond is amazing!

It's also critical to expect the referral. When your tone or facial expressions show that you don't really believe your client will have a good answer, they won't have one! Don't let your body language change your question into, "I don't suppose you have any referrals for me, do you?" Instead, expect the referral like it's the most natural thing in the world. With enough practice, it will be!

If people seem tentative, or they say they'll think about it, tell them you'll get back to them, and set a specific time to do so. Keep the appointment, even if it's just a phone call. Remind them that this is the way your business model works. You "get buys" with a little help from your friends.

You can also use this language in the signature of your email, below your name and contact information. Every email becomes a mini-billboard, even when you're out of the office and have your auto-responder set.

One of the best referral generators I've heard of is simply a delicious fruit basket. Greg Frost, one of the nation's top loan originators, pioneered this technique. He sends a fruit basket to his client after the close of a successful loan. Unlike candy, which tends to get hoarded by the recipient, fruit has a built-in expiration date, so people keep it on display to share. He sends this fruit basket to his client's place of employment, which makes them feel special. When co-workers ask where it came from, the client simply says, "My loan executive gave it to me." This opens the door to many subsequent referrals. 

Please let me know how these ideas work for you, and don't hesitate to call me if you have any questions.

A Home Repair Loan

FHA's Streamlined 203(k) Loan Program

I wanted to make sure you knew about a wonderful loan program that lets homebuyers finance up to an additional $35,000 into their mortgage to improve or upgrade their home before move-in. FHA's Streamlined 203(k) Loan Program helps homebuyers tap into cash to pay for property repairs or improvements, like those identified by a home inspector or FHA appraiser. Here are some of the eligible repairs and improvements for the 203(k) loan program: Repair or replacement of roofs, downspouts, and gutters Repair, replacement, or upgrade of existing HVAC systems Repair or replacement of flooring Minor remodeling (i.e. kitchen) not involving structural repairs Painting of the interior and exterior Weatherization, including storm windows and doors, insulation, weather stripping, etc Purchase and installation of appliances, including washers and dryers, refrigerators, dishwashers, microwave ovens, and free-standing ranges Accessibility improvements for people with disabilities Repair, replace, or add exterior decks, patios, or porches Basement finishing and remodeling not involving structural repairs Window and door replacements and exterior wall re-siding Septic system or well repair or replacement Lead-based paint stabilization or abatement of lead-based paint hazards (engineer's report required upon completion)

FHA 203(k) loans can be used for purchasing a primary residence or refinancing the rate and term. Cash-out refinances are not allowed.

If you have any clients who you think may benefit from this program, let me know and I'll be happy to review their situation anytime.

Oil Prices and Home Loan Rates

Nobody likes to pay more at the pump. But when it comes to how oil prices impact the economy...and home loan rates...here are some important factors to consider, and to share with your clients. On the one hand, high oil prices can be very detrimental to the fragile U.S. economy, as consumers have to put more money into their gas tanks–which means they have less to spend elsewhere. High oil prices are also inflationary since the added shipping and material costs apply upward price pressures on Producer or Wholesale goods that either have to be absorbed by the producer (thus hurting profits and the ability to expand or hire) or passed on to the consumer...a la a rise in consumer inflation. On the other hand, high oil prices could actually be good news for home loan rates, as the dampening effect on economic growth produces a sluggish economic environment in which Bonds (including Mortgage Bonds, to which home loan rates are tied) thrive.

Balance, Burn It In or Burn Out

I thought this message by Tim Braheem, CEO of Performance Experts was worth sharing.


Balance, Burn It In or Burn Out –
In the past fifteen years as a business consultant, public speaker and a coach, the number one area that I am asked about is life balance. It makes sense really. Work is where we spend more of our waking hours than anywhere else and as a result, it has a propensity to shift the scales of life too heavily to one side, throwing us into a state that we refer to as “Out of Balance”.

Recently, I surveyed a large list of potential coaching clients and in excess of 80% of those surveyed rated their relationship with themselves as poor. When asking that same group to rate their satisfaction with the amount of time that they spend doing things that they love, a similar result was produced.

In the hectic and achievement based society of the United States, life can at times feel as if its slipping away as we tackle our list of tasks. Many of you may feel as if you’re on a treadmill and you can’t find the stop button. Burnout, stress and depression are three of the great causes of disease and divorce, much less lack of productivity in the workplace.

In his timeless classic The Seven Habits of Highly Effective People, Stephen Covey shares, “The key is not to prioritize what you schedule, it’s to schedule your priorities.”

This simple sentence provides us with a big step in the direction of life balance. To go a bit deeper, I suggest that you define the “Non-Negotiables” of your personal life. By non-negotiable, I mean those relationships, hobbies and desires that you feel you deserve to nurture and cultivate in your life. What I see most often from those that feel they are out of balance, is a failure to isolate these areas and make them a non-negotiable priority in their life. Instead of scheduling their priorities, many of us try to “Fit Them In” when we have room. The problem is often that we don’t have room and even if we do, we’re too wiped out from reacting to life to take advantage of it.

Once you have come up with your list, my next suggestion is to “Burn Them In” to your schedule. From there, life needs to work its way in around your non-negotiables.

As an example if you don’t feel like you spend enough time with your children, then I suggest that you schedule it into your calendar to have a “Mommy Day” or a “Daddy Day” once a month where you take them to the park or to play miniature golf, or the beach. When you schedule it, you will have a much higher probability of getting done. Another example may be that you don’t feel that you have enough time to work on your relationship with yourself. If you love nature, then make a non-negotiable commitment to yourself that one morning a week you’re going to schedule to wake up one hour earlier and go for a morning hike or walk in the park.

Remember, if you wait for your schedule to open up for these important desires of life, it just might not. Burn it in or burn yourself out.



To your success,



Tim Braheem