Mortgage Professionals: Have You Been Approached By A REALTOR®?

Written by Posted On Monday, 24 August 2020 05:00

I have clients reporting back that they are having REALTOR®s calling them out of the blue, asking if they will take their referrals. Yes, REALTOR®s are calling mortgage professionals asking if they will take and close their deals is happening on a regular basis. This is not an unusual phenomenon, many of my clients have this happen occasionally by a REALTOR® who is unhappy with their current options, but it is happening more and more consistently and more frequently for sure!

It is interesting to see the reasons these agents are giving for calling: 

• I have heard good things about you from a coworker and wanted to try you and see how it went.
• I have seen you before but didn’t have an opportunity to send you.
• I have had a series of bad transactional experiences with my current referral choice.
• My current choice can’t get loans closed in 30 days.
• My current choice’s pre-approvals aren’t trustworthy.
• My current choice doesn’t respond to my calls.
• My current choice would rather do refinances.
• Use the Forever Home Strategy.

Any of these things are terrible to hear, but they represent an opportunity for you to explain how you work and what your expectations are about the relationship and how you do business! This is important. If the agent says they need a lender who answers the phone 24/7, RUN! Nobody can, or should, be put in that position. Politely explain that it is impossible for anyone to do that IF they have more than one client at a time and don’t have a life outside of work. Explain your system and how and why it benefits everyone and go from there!

Now is a great time to benefit from other mortgage originators who don’t have a plan, or don’t effectively communicate. It’s true, that many originators would rather sit at their desks and hammer the phones scouting refinances then managing relationships with REALTOR®s and purchase transactions. But refinances, while plentiful now, are not going to stay that way! We have already seen the FHFA tax of fifty basis points on refinances, who knows what is next!

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Michael White

After 18 years working in all phases of mortgage originations, Mike left day to day originations to start his consulting and coaching company. Now, more than 18+ years later, Mike is working with clients across the country in all markets, big and small, that have generated more than three billion dollars in loan originations within a year.

Mike teaches a system that is focused on time management, action planning, marketing a message, and creating value for both clients and referral sources alike. Quite simply, providing more value leads to more opportunities, more income, less time, and a systematic approach that begs to be duplicated.

 

By breaking down individual aspects of the mortgage business and providing a step by step approach to creating a consistent flow of opportunities that can lead to a highly successful mortgage practice. That is why people who incorporate these strategies out produce the national averages by almost 3 to 1!

Fundamentals and simple strategies provide day to day activities that help provide a “scheduled success” philosophy. It’s all about identifying, targeting, and establishing profitable referral relationships using exceptional value to keep you in the center of your own referral triangle. 

 

https://www.imtcoaching.com/

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