Part III: When I approach real estate agents, they sometimes tell me that they are listing agents and I should not bother to call on them. Some add that they don't deal with buyers. Should I just stay away from them?
--Jocelyn from Michigan
Thus far we have spoken of researching agents first to be in knowledgeable about their business ahead of time and not ignoring listing agents, no matter what they say. Now we will focus upon what actually to say to listing agents. Remember, you must speak about what they are interested in. What are they interested in? This statement will say it all: This is exactly why I approached you. I specialize in working with listing agents and especially helping them find more listings and sell their listings faster. Of course, when you make this statement, then you must be able to answer their inevitable question – how do you do that?
Thus, it is not merely about having an answer. You need to have a plan to help listing agents. If listing agents are the most productive agents, this is an essential business strategy. What are the possibilities? Helping with open houses – both helping them market the opens and being present to qualify prospective purchasers. Sponsoring broker opens. Joint marketing for listings such as just listed or just sold post cards. With the last suggestion, you need to be careful with regard to RESPA compliance as you are not soliciting listings, but providing financing to sell them. Therefore, if you are paying half, the message must be equally prominent to the agent's message.
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at email@example.com.