Like them or not, we all need a stable of agents who refer us to their clients. As I travel around the country I often hear originators say they would rather have a root canal without anesthesia than work with realtors, and to me that is a big mistake.
First, you must think of them as people just like you and I.
Their goal is to sell homes and our goal is do mortgage loans for those buyers. So we are already on the same page in terms of goals. Yes, there are some agents that are not loyal and some that aren’t particularly nice. But you will find that many are nice and many are also loyal.
So how do you meet them?
When I first started in the business many years ago (1985 to be exact), agents were in their offices and easy to meet with. Today, with technology, many simply work remotely from home or even in other states. So I wanted to share with you some “old school” and also some creative ways of getting to meet them and have them see you as a resource instead of a desperate beggar.]
1. Join your board of realtors and other associations
I am sure this sounds totally obvious but if you want to meet realtors why not go to their associations and meet them as peers? All of these groups have affiliate level memberships. You should join and become active and use that as a way to meet new agents.
2. Teach classes and write articles
While you are active in these associations, why not write articles on mortgage financing for their publications and teach continuing credit classes? There is no easier way to position yourself as an expert and at zero cost.
3. Sponsor broker open houses
This one is probably even more “old school,” but offer your existing list of agents the opportunity to sponsor a broker open house. You can put together some promotional flyers as well as flyers for the home. Once there, you have the opportunity to meet other agents who are touring the home and the agent holding the open house will introduce you.
4. Meet listing agents
Every transaction you do has a listing agent. Reach out and introduce yourself. Send them weekly status updates. Call them with updates. Call them when the loan closes and on all of these touches ask them to meet with you so you can show them some of the creative tools and programs you have.
5. Attend closings
Here’s one other “old school” tactic for you. When you can, try to attend each closing. This is the time when everyone is happy and it’s your chance to meet the listing agent and title reps face to face. It’s also your chance to stay top of mind with the agent and buyers and remind them that you love referrals.
You don’t need to stay for the whole closing. Just make your appearance, wish good luck and be on your way.
6. Ask title reps and other realtors to refer you
One of the most overlooked sources of new business are title reps. These folks are out there each and every day just like us looking for new business and relationships. Try to get them to introduce you to some of the agents they do business with and in turn you can recommend them as well. You could even hold a joint happy hour or educational trainings. They will invite their database and you invite your database thereby creating a true win-win situation.
7. Conduct a webinar training
This is a tactic I just tested with tremendous success. I went into a number of Facebook and LinkedIn groups that are populated by realtors in my city and invited everyone to a webinar on how to use renovation loans to sell more homes. I also invited all of the agents in my own database including the listing agents on my deals. I held a 30-minute webinar and within two days I had three new deals with agents I had not previously worked with.
Give these a try and let me know your results!
Brian Sacks is a national mortgage expert with Homebridge Financial Services Inc.r in Owings Mills, Maryland. He has over 30 years of mortgage experience and career closings of 8000 loans in excess of $1 billion. A recognized leader in the mortgage industry, Sacks is the resident expert for NBC Channel 11, and he has also appeared on the CBS and ABC stations. Brian has appeared in over 42 states and is considered the national expert on working with credit challenged buyers. Brian is also a respected coach and speaker, and the founder of the Top Originator Mastermind. Watch his 4 part free video series on How To Close More Loans- Make More Money And Still Enjoy Life.
Not all agents are created equal
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