i just recently started a new job. I am now a loan officer for a mortgage company. I’ve never done this line of work before. My boss told me that I need to build a relationship with all the realtors in my area. When I go to their office to introduce myself I’m not really sure of what to say to them. I want them to send their clients to me so I can’t sell them mortgages but I don’t know what to offer the realtors to make them want to send their clients to me. Most importantly what the heck do I say when i walk into the office for the first time and hand them my business card… please help me.
"Hello, Mr. So and So,
I’m Jane Dough, and I’m a mortgage loan officer. I’d like to speak with you for a few minutes, if I may."
Then outline why their customers would want to choose your company, and you, to process their mortgages. It’s a sales pitch that you’d use to a reluctant customer, convincing them to use your company. Show the advantages your company offers over others (but it isn’t wise to actually name names).
You’ll do fine.
March 8th, 2010 at 7:54 am
"Hello, Mr. So and So,
I’m Jane Dough, and I’m a mortgage loan officer. I’d like to speak with you for a few minutes, if I may."
Then outline why their customers would want to choose your company, and you, to process their mortgages. It’s a sales pitch that you’d use to a reluctant customer, convincing them to use your company. Show the advantages your company offers over others (but it isn’t wise to actually name names).
You’ll do fine.
References :
March 8th, 2010 at 8:39 am
Don’t work too hard on "selling" yourself to realtors. Instead, try to develop good business relationships with them and become friends.
Friends are more likely to talk to eachother, refer clients to eachother and share business tips.
References :
http://themligroup.com
March 8th, 2010 at 9:03 am
I’ve been a Strategic Mortgage Planner through the great times and the bad times. The bad times were the times when I put a great deal of value on establishing relationships with realtors. In a declining real estate market you need to generate "cause driven" loan volume to generate a substantial income for yourself. "Cause-driven" loan volume happens when you are adding value to a referral’s business without competing tit-for-tat with referrals. Which means that trying to build relationships with "transaction-based" thinkers is suicide for a new loan officer.
Here’s a suggestion: Forget about developing relationships with realtors and devote your life’s energy on securing relationships with Certified Financial Planners, Tax Planners, Real Estate Attorneys, Title Company owners and Life Insurance Agents. These professionals will already have a "relationship-based" mentality and will more readily accept your offer to add value to their practice.
Start with Certified Financial Planners and Life Insurance Agents. Show them that you will add value to their practice by performing a "liability audit" for each of their client case studies to ensure that their client is not overlooking an opportunity to safely free up some investment dollars by reducing their mortgage payment. Let me tell you something, this is my primary strategy for building my business and just last Wednesday I had a career-high day by securing $2.4mil in loan volume AND I LIVE IN CLEVELAND, OHIO!
I strongly encourage you to read a book written by Doug Andrew called Missed Fortune 101. Then subscribe to "Mortgage Planner Magazine." In the meantime, log onto http://www.StrategicEquity.com to see what our nation’s leading mortgage professionals are doing to achieve success. Here’s a hint: We don’t build relationships with realtors…because we can’t.
Now this way of thinking will change your life…Good luck!
References :
Check out our other philosophies at http://www.TheGlobalAdvisors.com
http://www.MortgageCoach.com
http://www.FinanceOurHouse.com
http://www.StrategicEquity.com
March 8th, 2010 at 9:40 am
Be professional. Be available. Be consistent. Give the agents a reason to use you.
Go into the office and tell them about a financing program that they are not aware of, that will help them close more sales. Offer to help them with problem clients to earn their trust.
You can;t just roll into a real estate office and expect everyone to use you. Try and start building rapport with newer agents, as they likely don’t have many mortgage contacts.
References :