Attention Mortgage Loan Officers! Want to know how to pick up your Purchase business?
Establish solid relationships with Realtors!
More and more, the requests are going from “I want to refinance…” to “I want to get Pre-Qualified…” or “I found a home and offer was accepted!...” is a clear sign that our business is leaning more and more towards a ‘Purchase Market’.
With Rates on the rise and Refinance leads slowing down, we need to adapt our focus to what is in demand and right now its Purchase Loans!
So you would think its easy to find a Realtor right? The idea of just buying a Realtor coffee or bringing their office a box of donuts should be enough to earn their business for life, but that is simply not the case.
The truth is that selling to a Realtor is far different than selling to a prospect and I made a VIDEO where I go into depth on this and how to improve your approach to earn the Realtors attention and consideration as their ‘preferred lender’.
In short, a Realtor is already being smothered by your competitors with Starbuck cards, Donuts, lunch offers or appointments to meet for coffee that never end up working out.
How you sell to a Realtor is much like comparing how a Refinance loan is to a Purchase loan…there are much more moving parts.
You have more parties to consider in the communication from Buyer / Seller Agent, your Client, Title and Escrow and Processing! Because of this, most of your competitors will shy away from doing Purchase loans and this is where your window of opportunity is!
But if you practice the same old school tactics of ‘I was just dropping bye and I just happen to have this box of treats with my logo ALL over each item for you….” Then you’re name, company and business card will be thrown in the drawer with ALL the other solicitors trying to trade snacks for business.
Understand what advantage you can offer the Realtors, like;
- CRM Technology that allows you to log in from a tablet or smartphone to produce a prequal on the spot!
- Access to Niche financing that their ‘Preferred Lender’ could not do. I.e. “ call me if you have a loan that you can’t get approved, I’ve been making magic happen with quick turn times to make the American dream come true for clients….let me do the same for you…”
- Research Open Houses and Broker Locations in your area and research the Agents before you approach them
- Consider their BRE License number to determine if their a Veteran Agent with established relationships or if their a Newly licensed Realtor just trying to stake their claim and build their pipeline
Knowing where to focus your time and what message to deliver is key to earning the trust and attention from Realtors, but when you do earn it you are setting yourself up to become a Brand within a Brand because Realtors don’t care what your lender name is they care if you can deliver and ensure their money is protected.
Realtors want accountability and thoroughness to ensure they’re not wasting time with non-qualified buyers and not ruining their reputation or income by working with an inadequate source of funding.
Learn how to establish a relationship with a Realtor and you’ll slowly build the credibility you need to become their ‘Preferred Lender’
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I’m Daniel Nicart of SalesRemastered. I help Sales Professionals find an easier path to increase their income, reach their potential, develop the right mindset and become Top Producers, fast! This channel was made with Loan Officers in mind, where I share sales training relevant to all Loan Officers in varying experience levels. If you’re tired of watching the same sales content that don’t talk about what you’re actually experiencing in the sales floor, then you’re finally in the right place!
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