Comic Steven Wright said, "Hard work pays off in the future. Laziness pays off now."  Yes, yes, it's funny, but it's also true!  Mr. Wright had a comic purpose for considering this axiom.  I want you to consider it for quite a different reason:  Short Term Profit.

From my way of thinking, there are two basic ways for a mortgage broker to build a mortgage brokerage business:

1.      Personal Marketing: cold calling, referrals from customers, networking,  and building relationships.

2.      Buying customers.

Personal marketing is the bedrock of building any "professional" business.  This is never more evident than in the mortgage industry. Ask any top producer and you will find that they spent years developing their book of business:  Countless lunch meetings, numerous networking events, a googolplex of phone calls, business cards, post cards, birthday cards, anniversary cards, co-op ads, etc., etc..  Does this all pay off?  ABSOLUTELY!  Every LO and broker needs to make certain they cover all these bases for long term success because "hard work pays off in the future."

But, if you need to jump start a flagging book of business, or kick start a new one, consider how "Laziness" will pay off now.  I'm not suggesting you lay around the pool munching on bon-bons. NO!  You have to be proactive to build your business.  What I am suggesting is that Buying Customers equates to Laziness today.  Let me explain.

If you need to be doing more loans NOW, you need customers NOW - not six months from now.  That means you need to find a pool of ready borrowers.  This can be done most effectively with direct marketing: Telephone, Mail and Internet.  Direct Marketing provides ready and qualified borrowers.  Yes, you have to buy them. No, the good ones are not cheap.  But, if you invest your money wisely, it can yield a terrific return on investment in a very short period of time.

To be wise with your money, follow these basic principles:

1.      Decide how you want to interface with the prospects: internet, phone, in person.

2.      Decide what loan programs you want to focus on for the initial campaign (FHA/VA, Streamlines, Debt Consolidation, Reverse).

3.      Find companies that specialize in locating and delivering your ideal customer when and how you want to interface with them.

4.      Check references and ask for customer testimonials.

5.      Track and measure your success.

6.      Lather, Rinse, Repeat!

If you need "Lazy" business fast, "Buying Customers" is a rational choice to generate solid, profitable business in a very short period of time.

Good luck!