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David Lykken: Does traditional networking still work in the mortgage business?

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Mortgage Professional America | 08 May 2014, 12:07 AM Agree 0
In the old days, networking events with realtors were an effective way to build business. It still sounds like a great idea, but, in today's marketplace, does it still work?
  • CC | | 08 May 2014, 05:24 AM Agree 0
    As an event coordinator for people in real estate and lending for nearly a decade, I always emphasize to the hosts and attendees to keep the selling to a minimum during the event itself. These days I even discourage 'passing the mic' to the event sponsors - nobody wants to hear the pitch anyway. How a networking event goes depends largely on the people who are putting it on. If the main idea is to meet, circulate and POSSIBLY build a good relationship, the atmosphere is much more relaxed and fun, vs. feeling like an infomercial. I have found that networking events are still incredibly valuable (granted, I am biased) - it's true that Realtors are busy, but they usually aren't too busy for a free cocktail and appetizer, a possible door prize and photo ops.
  • Wm Matz | | 10 May 2014, 10:39 PM Agree 0
    The whole lender- realtor relationship has always been backwards. Would-be buyers should always start with the method of payment determined, then start looking. Smart Realtors will never work with a buyer until the buying capacity is determined [perhaps the same day]. Starting to house shop before qualifying is like making retirement plans before figuring what your income will be.
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