Is marketing to real estate agents difficult? There's some things top loan originators don't want you to know. And it's more than just about overflowing your pipeline with leads. There are some things you need to do to keep real estate agents loyal to you otherwise your work goes in vain.
Are you marketing to Realtors? All the great mortgage originators say a similar thing - build a relationship with a genuine real estate agent and watch the future clients roll in.
But these mortgage broker professionals miss a vital part of marketing to Realtors, simply sitting back and watching won't keep the Realtors loyal to you. What can you do to create trustworthiness? You can take an accounting of your relationship. Essentially, you want to conduct a performance appraisal - of your service.
Because a real estate agent is sending you does not suggest that you do not have to work to maintain the relationship. You also have to stick a toe into the water to keep things moving forward. But the input is invaluable to your business - it's far better to have an accurate picture than be caught by surprise, particularly if the surprise is the end of your relationship.
A process to get a correct appraisal is to call your client and schedule a appointment to assess your performance.
This could make a great impression with the real estate agent and give you a chance to document their assessment - and ultimately, it can lead to customer faithfulness. An effective tool for judging performance is to request a SWOT analysis.
Strengths - What issues have you overcome? Which solutions were used to solve the issues? What was the result?
Weakness - Are you earning one hundred pc of the Realtor's leads? If not, why? What do you require to do to boost your service?
Opportunities - what's the Realtor's plans for the following quarter? What are you able to do to assist them in achieving their plans? What resources are needed?
Threats - What other loan officers is the real estate agent using? What does he like about that competitor? Does he plan on doing more business with them?
Marketing to Realtors means you keep your name in front of the them. For instance, give them a coffee cup. A coffee mug with a personalised note attached thanking them. They need the same sort of positive feedback.
Your praise does not need to be fancy - an easy hand-written card shows sincerity and appreciation. Make it a regular practice to get in touch with your Realtors and solicit their advice and give your advice on their performance.
When your marketing to Realtors is done the right way, and your relationships are genuine, future clients can roll in.
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