Part II: I’m a new originator with less than one year in the business. I came into loans after 10+ years as a Realtor. I have several Realtor friends that have sent clients to me so I am doing better than most others I know that are new in the business. My problem is that the three companies that I have worked for have promised training but they can't seem to give me more than a couple of minutes at a time. They are busy working their own business. Basically they know where to place the loan based on the information I provide, but they do not have time to explain the reasons for going to a particular lender. I can't get strategic advice on setting up and maintaining my business. They are interested in the business I bring in, but not helping me grow. I need some direction.
--Karl from South Carolina
Last week we talked about the decision regarding choosing the right company and more importantly, choosing the right mentor. This week we would like to speak about setting up a plan for success. Your marketing strategy should revolve around getting referrals from your sphere. Just because you are new in the industry, does not mean that you don't have a sphere. As a matter of fact, because you have ten years of experience as a real estate agent, you should have an excellent targeted sphere.
Most importantly, your sphere should contain the many real estate agents you have worked with and met along the way, as well as many vendors who call on real estate agents. These vendors all should know many real estate agents as well. It seems as if you should have one of the most productive spheres of all as you will know more agents than many loan officers who have been in the business for a while. So, the next question has to be, how can you deliver unique value to these agents? Here is a hint of what is to come -- the answer to your unique value comes from within.
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 firstname.lastname@example.org.