Tuesday, October 11, 2016

How A Mortgage Originator Can Obtain More Business From Realtors

How A Mortgage Originator Can Obtain More Business From Realtors

By Emilio DiSpirito Realtor/Team Leader/Radio Show Host/Disrupter

Just a couple of thoughts from the Other Side of The Table! 

Being a loan officer is NOT a Marathon, but a Tri-Athalon!!

You see a Marathon is what the unsuccessful in our industry do... THEY DON'T FOCUS on all 3 major components on a DAILY & REPETITIVE BASIS!

So what is the 'Mortgage Originator Tri-Athalon'?

  • Prospect for NEW Business / Cultivate New Relationships
  • Keep Current Clients Happy
  • Stay up on Industry 
Sounds simple right? That is the formula!! So simple yet, we sometimes fall behind the 8 ball because we are our own worst enemies!! The successful loan officers closing 2+ million per month on a routine basis are doing all 3 of these things!!! 

I'm by no means here to tell you I have ALL the ANSWERS... NO! I am just trying to figure this out daily and am open to pointers! Here to share some POWERFUL INCITES that WILL RESULT in YOU CLOSING MORE BUSINESS!

  1. Am I here for the long run? Do I APPEAR to be INVESTED my industry and do Realtors see me as stable? How am I perceived by my target audience in which I wish to cultivate relationships?
    1. Think about that for a second? Almost like John F Kennedy's amazing speech which politicians should practice more now than ever - "Ask Not What Your Country Can Do For You, But What You Can Do For Your Country!" Same thing here.. What are you doing for your industry? How are you setting yourself apart and adding value?
  2. Confidence. Do You Know What It Takes To Sell Real Estate? (youtube may show a quick commercial first.. stay tuned it's worth it!)
  3. Set expectations - Set the tone, that you are the professional and you carry ALL the answers or can GET THEM!! Never lie and say you know what you don't... but promote your company as your TEAM and tell your prospect or your client that you WILL get them the answer they need!
  4. WORK TWICE AS HARD - Get 3 to 4 x the results!! How can you work TWICE AS HARD? IT COULD NOT BE EASIER!! There are 2 agents involved in nearly 87% of all real estate transactions. Buyers agent and listing agent. 
    1. As a value-add to your buyers agent and to get you in front of the listing agent:
      1. Email listing agent pre-approval letter after discussing the offer with buyers agent. 
      2. Call listing agent right after email and tell the listing agent why you confidently feel this buyer is perfect for their listing. 
      3. Tell the listing agent what kind of homework you did to ensure they had a solid buyer. 
      4. Build quick report - DO NOT SELL... Your report and follow up will sell you to them. Do this EVERYDAY... What do you think will happen?
    1. TWO WORDS - Brokers Caravans! 
    2. Also give yourself an edge by seeing the end product!
      1. Refer buyers looking over to a listing agent that may have a product you have seen that your client may want!
  6. WORK THE TELLERS!(if you work in a bank)
    1. There is no better person in the bank that can drum up business for you.. Figure out a way to legally and ethically work and reward the tellers!!!
    2. Find out who the sellers are coming into your bank - Refer them to a Realtor you are looking to prospect!! 
    3. Most buyers are also... SELLERS!! Agents love working listings because listings will help agent (and you!!) retain more buyers!!
    4. Tellers have sales quotas to meet in many cases - Make sure that you refer them business as well!! 
    1. Sponsor a video tour and pictures for an agent. Get your name and logo on video for pre-approval or offer a cool landing page with fun facts that the client will find value! Imagine this video, seen by Realtors and consumers with your name, number or website and logo on it.. Agent Guided Tour of 67 Beeckman Ave Cranston
      1. Image Ten www.ImageTen.com does this best in RI, South Eastern MA and Eastern CT and is very reasonable. 
      2. Promote the videos on facebook - "Boost" the video to a target audience with a landing page that will engage audience.. ultimately you gain SEO and they may contact you!! Either way.. you are showing so much value!!! Better yet.. boost the video and pics with an invite to the open house - SHOW UP! 
      3. Put a yard sign on that listing!
      4. Have your materials there at an open house as the "Go-To" person for mortgages!
    1. Make it known right away upon giving the agent the lead EXACTLY WHAT YOU WANT in return. 
      1. Take business over coffee.. Face to face is vital but showing up at the closing or an open house is 10x more effective than JUST ANOTHER COFFEE DATE!
There is nothing more rewarding than helping someone else. Thank you for listening, please leave your comments below and please subscribe and follow us! 

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this advice is deemed reliable but not guaranteed. mortgage office, loan originator, etc. should check industry standards to ensure they are playing by the rules. this advice is from a realtor.. what do i know?!

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