Steve Tytler

If you are a mortgage loan originator, the rapid spike in mortgage interest rates over the past month should be a wake-up call.

Take a look at this chart showing BankRate.com’s 30-year-fixed mortgage index over the past month:

Yikes!

Sure, mortgage rates have come back down over the past couple of days but keep this in perspective.

Look at the BankRate.com 30-year-fixed mortgage index over the past year:

We are now basically back to where we were in December, before the second leg of the big mortgage rate drop kicked in.

How long will it take for the 30-year-fixed mortgage index to get back into the 6′s where we were Last October and November before the first leg of the rate drop around thanksgiving?

Who knows?

The mortgage market has been anything but stable this decade.

Here’s the BankRate.com 30-year-fixed mortgage index over the past 5 years:

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If you have not already checked out the video I shot at Carl White’s marketing mastermind retreat in Tennessee back in April, check it out:

http://wwww.stevetytler.com/2009/04/video-report-marketing-animals-retreat.html

And even if you saw it before, you might want to take another look because I just re-edited the video to add a section at the end that shows how you can be part of my personal coaching group — FOR FREE — when you join the Marketing Animals Group.

This is another example of reciprocity in marketing: I make a small affiliate commission if you join the Marketing Animals Group using my link, but the price you pay is the same whether you use my link or not.

So I’m offering you something very valuable — my time and marketing expertise — if you choose to join Marketing Animals because I want you to be successful. Anybody who joins using my “TYTLER” code goes onto a special list and you get personal coaching and advice from me to help you implement the Animals strategies.

If you are successful, you make more money. And if you make more money because of the group, I make my little commission.

So everybody is happy.

It’s another win-win situation.

If you go into every marketing or sales opportuniy by trying to figure out how you can truly HELP somebody rather than just try to “sell them something” you will be much more successful over the long run.

There is a marketing principle called “reciprocity” … which means that when you give somebody something of value for free they feel like they owe you something in return. It’s like when you do a favor for a  friend.  There is an unspoken agreement that the friend now “owes” you a favor if you need help in the future. You don’t have to say, “remember that I time I helped you … “  They just naturally feel obligated to help you out because you helped them out. Now is the PERFECT time for mortgage professionals to start storing up “favors” from real estate agents by helping them grow their business, so that they in turn can help you grow yours. [...]