Day 2 – Instant Respect From Realtors
By——————————————————————————————–
Welcome to Day 2. Today we talk about a method I personally used to get instant respect from real estate agents. Why is this so important? Because “lack of respect” is one of the #1 reasons loan officers don’t get referrals. If the person you’re marketing to thinks you’re just another one of “those guys” – Do you think they’re listening intently to what you have to say?
In 1 ear and out the other as they say… But if you use today’s strategy to build your referral base, you’ll build an asset in about 7 days that most other loan officers are dying to get a hold of.
Here’s the phone script I used: Click Here To Download
Here’s the sample newsletter I used: Click Here To Download
The sample newsletter shown above is an excellent marketing piece, I have 14 issues spread out over 7 – 8 months. All newsletter delivery was handled by a marketing grade auto-responder. (There’s no excuse not to have an auto-responder as a loan officer. None. You are harming your ability to generate referrals from your past clients, prospects, and affinity groups if you’re not making use of this essential tool – That’s why we provide one for all LO Lab members from day 1; It’s that important - That’s another post for another day though)
Later in the week I’ll show you a small change I made to the newsletter sample you looked at above to turbo-charge the results. I turned it into an online marketing tool with a twist. Stick around to check it out!
IMPORTANT! 2010 update! The Loan Officer Project was such a hit, we now host multiple training sessions per year – Please contact us direct for the next scheduled start date.
[...] Instant Respect From Realtors Yesterday we talked about "Marketing Grenades" – A way to get noticed by your target market. Today the conversation steers to how to get realtors to respect you… Quickly. See, many loan officers focus their marketing efforts on trying to lure the agent in with promise after promise after promise, not realizing that msot agents are not even close to taking you seriously. It’s a lot like spam. You get a bunch of claims that SOUND good in theory: 10k in 24 hours Quit your job next week and never work again Make 6 figures per month every month I need to transfer 100 million to a U.S. bank, I’ll give you 20% Admit it, 6 figures per month sounds good doesn’t it? But would you take that email serious for even a second? Why not? Because you know better. Just as realtors have learned to "know better" than to take most loan officers seriously. As long as you’re not being viewed with respect, your marketing messages are flowing right into 1 ear, and directly out the other more often than not. So how do you change this unpleasant sequence of events? Have a look at the script I used. Download it, feel free to use it or modify it to fit your own marketing tools. It’s meant to be used with the video I just posted, but have a look and pay close attention to why it worked. Respect… Chad Weber Loan Officer Marketing Lab The Loan Officer Project: Free online marketing for loan officers [...]
[...] Mortgage Marketing: The loan Officer Project [...]
This is great stuff Chad. I’m hooked! Can’t wait for the next update!
I was so excited about yesterday’s video that I could hardly wait before I saw todays video. I was waiting and had my email open when it popped in. I think contacting the top realtors and getting their permission to send them my news letters is a very good idea. It serves many purposes, two of them being it shows who are open minded enough to want to hear new ideas and strategies to increase their business and those who give a negative response, well you don’t want to be involved in business with them any way. Keep up the good work. I am so excited over what I am about to mget involved with.
That is the Supreme message -RESPECT! Truly a Challenge with all the media hype. Seems amazingly simple, ask permission. Why twice a month on the Newsletter rather than once per week with a follow up call after 2nd week? Would a combo Video with a text copy perform better or is the secret simply the simplicity of a newsletter methodically over the course of a few weeks? Could you accomplish the permission thing with an e-mail inquiry asking permission with a thought provoking question? Or does the 500 pound phone perform the best?
Keith
Hi Chad,
The script about Real Estate Under Construction says it teaches how to market online, get on the front page of Google, blogging tips and the like…but I don’t believe any of that is covered in the REUC newsletters I’ve seen. Please advise.
Thanks!
LP
Hello Larry,
The tools we recommend you use are the video series packages available to you in Loan Officer 2.0 — Link to them in your emails – so it’s a “Video Newsletter” series. You should have access to nearly 20 videos by now, with the next series being released this Friday for members.
In addition, we have “version 2.0″ of the print newsletters nearly complete as well.
CW -
Wow Chad!!! This just keeps getting better and better!!
Your approach of asking for permission from Realtors is absolutely spot on.
This is a can’t miss approach that should pay off with huge response …CANT WAIT TOR TRY IT!!!
A great idea! It shows you are a professional and wanting to treat them as professionals too. Most of them are not really aware of what social media and all the other web 2.0 can do for their business and we can teach them (while we’re updating our own social media and getting clients of our own to refer!)
Looking forward to tomorrow’s update!
Chad,
That is a great approach. We all know that the foundation to this business should be the purchase market. People will always buy homes and we are able to assist with this major purchase.
The tools you provide are great examples of how to approach new business contacts.
What is most impressive is the dedication to time management you shared with your call schedule and the long term ROI that you received.
Teaching an agent something new is a great way to get your foot in the door and stand out from the rest of the crowd.
I showed an agent how simple it was to advertise on craigslist and some other free sites earlier this year and now he’s good for at least 3-4 deals a month. All I really showed him was that I cared about his growth and his business and boom I got the deals.
FYI-I’m not happy with 3-4 deals a month so i’m truly looking forward to doing this on a much larger scale.
Thanks Chad and I’m looking foreward to tomorrow.
Chad, I find it a priority to expand my knowledge throught this type of information that you are offering. Thank you,
Kathy Vasel
These are great tools to set us apart from the rest of the pack of loan officers trying to garner the coveted Realtor business. I think the automated drip campaigns and helpful tools for the Realtors would make for a more meaningful sales tool. Keep it coming…
Great stuff I love the newsletter. I have built my business by providing over the top service and ideas for my realtors so this fits nicely.
Excellent info Chad. Love the script. Keep it coming, it only will make us better at what we do, and achieve the results we need.
Right on! Mutual respect = value. If that isnt the basis of the relationship it will never be long term. In the days of sign and drive lending, the Realtors were so busy and could go anywhere that you were only as good as your last deal. Im very interested to see where this goes. I have found that if you know your stuff and can help the Realtor, your value demands the respect and you build a true relationship
Appreciate the information. Love the way you spell out in detail the strategies that worked for you. Thanks…
Chad
Either I am listening better or your information (it has always been great) is getting better with more ideas. More in depth information. The internet is great but you keep reminding us that we need that touch and I agree. I like the part about training the realtors to ask us for more valuable content. This will make your programs more valuable for loan officers. Thanks Chad. I am going to be bold and just come right out and ask you to include me as one of the 75 that get your free program web-site. I would be very gratefull. Thanks
Excellent ideas. This is a great way to distinguish yourself from the crowd.
I am very disappointed with today’s post, Chad. Frankly, I expected much better …
of MYSELF!
This is so shockingly simple. (The thumping you may hear is me beating my head on my desk for not thinking of and doing this on my own.) My parents taught me to always respect others and their time. In my attempt to do so and be polite, I have doubtless missed many opportunities to present myself for fear of imposing. Well, you have taken that fear and turned it to the perfect approach for my style and comfort level.
Perception and respect IS viral and reciprocal. We don’t call Realtors “my real estate guy”. Well, I do not want to be a Realtor’s “mortgage guy”. I want to be their “Mortgage Professional”. Your suggestion puts me in position to be considered professional from the first cold contact.
Wow … you are phenomenal … I would have never utilized the strategies you have shared with us today. I like the way you process your ideas to create financial success and ability in moving forward to opening new doors of opportunity. You definitely have a gift and a wonderful talent. I am soaking in all of the information you have shared with us today. You have put it together in such a brilliant way. I like the way you think and how you put in the construction worker, etc. That is such a neat way of getting your information out and definitely getting the attention!! I am so excited about your presentations and I am looking forward to tomorrow. Thank you.
Great stuff. I used the script and got 2 loans from the same Realtor. I can’t wait for tomorrows info.
Hey there Rhett that’s awesome! Congrats! I love hearing about quick results!
CW -
I just found you on LinkedIn. You got to love that social networking! Can’t wait to see what comes next! The idea is so simple, anyone can do it, but I am going to get this going tomorrow! See you tomorrow!
This is fantastic advice! There’s no begging for business and it instantly puts you ahead of the competition. I’m loving every day of this project. Thank you, thank you, thank you!!!
Thanks for the post, I read it yesterday, and meant to come back and comment on it…but as luck would have it I ran out of day. This post brought a lot of reality to myself, even thought I hold a real estate license, for as long as I have been in the mortgage industry I have refused to market to Realtors. Mostly due to the preconceived notion that they get bombarded with so many asking for their business, that I figured I would just be one more; I guess, it came down to what you stated in your blog…I didn’t know how to make myself stand out from the crowed.
Thank you for taking the time to post these items and for sharing your success secretes, every day I read them I discover my so called “reasons”, which are actually excuses, of why I’m not doing something that has been proven to work.
Thanks for the post! Having been a realtor myself I can understand why an officer interrupting your day can be perceived as a nuisance, rather than someone trying to earn your business. You newsletter series actually have you assisting them, creating time and helping them with their marketing strategy. Definitely making it seem like you are partnering up with them for success.
Hello Liz, Great comments – You nailed it! It’s all about coming from an equal footing, a powerful position instead of fighting an uphill battle and being perceived as a pest. Good stuff!
CW -
Great script and information is very helpful
Hey Chad:
Again, thanks for the thought-provoking video. It’s refreshing to know that someone else has the self-respect and strength not to settle for working with any agent simply because we need the sale.
A lot of great information on this video. I agree with everything that you have said about the realtors. The other thing we must do as loan officers is to be sure that we deliver what we say when we say. not excuses.
Glad I found your website through “Think Big Work Small”. Good stuff from this Day 2 video. Yes, “RESPECT MATTERS”!! The need to set yourself apart from the crowd is a great message!!!
I need the FREE WEBSITE!!!!!
Hey Chad, What an approach, your information is simple but to easily overlooked. I can’t wait to use your sugguestions in this new video. I really find myself, realizing just how much I don’t know. This is amazing stuff. I can’t wait for the next video. Thanks for sharing and caring. Man am I glad I found this!!!!!!!
You are right on Chip. I just got it stuck to me by a referral that I’ve been following up for nearly a year. The Realtor steered the borrower to another lender. I worked a year on that man… I’m ticked. This Realtor that gave me the referral on other cases has absolutely no respect for Loan Officers on other cases and I’ve stopped accepting her referrals. Definitely need help and this vid is one of them to get more Realtors so I dump the bad ones.
Keep up the good work with your post – very informative!
Great post Chad… a nice reminder from attending the mortgage lab. I pays to revisit your blog.
Chuck
Illinois home mortgage rates
I like the phone script but of course I would appreciate some help on how to get realtors or any referral partner to call me as it is very difficult to get a top producing realtor on the phone with all the screening and gatekeeper techniques out there. Most of the high producing LO’s I know all closely network with their realtors. Thank you for all your great web site building sharing.
Great video and information.
Great info and ideas! I’m looking really looking forward to the class!