Ok I am going to take a stab at this subject, please be gentle.   Most of last week I spent hours on the phone trying to schedule appointments at the local realtors offices in which hire new realtors. For example C21 and Keller Williams. As time went on, call after call, my head was pounding and throbbing. For a majority of the calls, I couldn't get past the receptionist.  My objective here was to secure new realtor realations by offering them 1st time home buyer training as well as 100% n/o/o invester training. I even offered to bring freebies such as lunch, a coupon for a free post for the signs I know they will eventualy need to hang for their first listing, even to pay for and handle replenishing and monitoring of their flyers, etc.  Perhaps my outlook on what the results of my calls would generate was a bit naive. I thought this would be something companies like C21 and Keller Williams would feel beneficial.  I was wrong.  Apparently information on these programs along with free lunches has saturated these companies so much, no one is interested or hungry.  This brings me to writing this blog and to my knee's as I ask you realtors; What really would it take for you to consider giving another loan officer a chance to work with you and your clients?  Please, if you would, provide some useful tips for me and others like me so that I may use this valuable information in my pursuit of building new realtor relationships.

Your comments and imput would be very appreciated, again please be gentle

 

12 Comments on What do Realtors look for in choosing a loan officer

SEP
25
2006
116,594 Points 9 Featured Posts Outside Blog

Take the receoptionist a cup of Starbucks and see what happens.

Rich Kruse - Gryphon

5:28pm • #1
Thank you Rich, that will help with the receptionist situation and I will!
Lisa Imbriani
5:32pm • #2
276,519 Points 15 Featured Posts Outside Blog

Skip and go to the agents. I tell my favorite lender who the hot agents are in the office and to contact them. You almost have to get them in the first year or they may settle on someone. I have a couple and as long as they give good service and stay in contact they get the leads. It is hard for a new one to break in with me. Eric Good Luck

Visit agents during open houses because your competitors most likely will not. Concentrate on a few at each office.

5:49pm • #3

Eric, thank you for your useful information. I do want to make clear though, I am not that new to the business.  I have been a loan officer for a few years now.  I have been marketing myself mainly in the bankruptcy area working with bk attorneys as well as client referrals. Some of the realtors I do work with are partime and unfortunately, not that committed. Again, I do appreciate your advise!

Lisa Imbriani
6:02pm • #4
SEP
26
2006
146,460 Points 10 Featured Posts Outside Blog

Lisa,

Viceversa what do they look mortgage brokers / loan officers in Real Estate Agents, at least that is my experience.

 I started working with a Mortage Broker, they give me referals, they like me because they love follow ups, they love calls from my that I am taking care of their customers, I gve them professional service and good attitude and of course they love when you explain their customers your expertise and knowledge in the real estate area, also they love my availability to work with them. I am very easy to make things happen.

 

Ray Saenz, Broker Associate

United Property Brokers, INC

Homes for sale in Colorado Metro Denver Area

Ray Saenz Real Estate Agent & ActiveRain  Network User

 

10:48pm • #5
SEP
29
2006

     Thank all of you very much for your good ideas im actually having that same thing happen to me while trying to find a bilingual realtor to work with. i would call all of em and sometimes go as far as to walk into real estate firms inquiring about a possible alliance (c21, KWilliams, DSchwartz, ect...) and the receptionist would hit the brakes on me and tell me to leave whatever i had with her, for her to pass out and post up later. Since i got absolutely no response to the flyers i left with the receptionists, im inclined to believe they were forgotten and missplaced or  just plain thrown out. Which i think is totally bogus but hey it happens, you live you learn.
im hearing two choces from what you guys are saying and one is i melt the receptionists defenses with coffee and gifts or i can cut everybody else out all together by talking to the realtor at an open house, receptionist; who knew they cantrolled so much.

Blake Mata
4:04pm • #6
OCT
02
2006

lisa, i think the first problem is most of the larger real estate firms are normally affiliated to a lender so going through the receptionist wont work since they are already instructed by management to be the buffer or wall.  there is normally no way to get in that way.

Your best bet is to target the small offices.  they will more than likely welcome the help! 

As for the larger offices.  target the younger but successful agents.  lunches and alcohol normally work to get in the door.  from there they will help introduce you to other newer young agents that aren't set in their ways yet.  The older agents just have too many good lenders they work with.  Make it casual and have something to offer back.  I know for myself I only work with lenders that will give me a decent amount of referrals back in return.  Dont get me wrong, I dont expect them all but I do expect some type of return.

Just a thought.  good luck.

2:41am • #7
OCT
20
2006
175,126 Points 4 Featured Posts Outside Blog
What do we look for in choosing a loan officer?  Those that will GUARANTEE on time performance to avoid creating a delay in close of escrow...
10:06am • #8
DEC
21
2006
264,385 Points 59 Featured Posts Outside Blog
Hey Lisa, very relevant blog.  I too am a loan officer.  Here's my take, for what it's worth.  All the donuts, rate sheets, matrixes, and the like in the world take a backseat to delivering what Suzanne Marriott touched on, (On time performance & Closings).  How do you get there?  How about bringing them leads instead of lunch.  Target renters & rental insurance agents to get the pre-approved to stop renting and start buying.  Then, you can pass on these already pre-approved clients to a Realtor who can help them find a home to buy.  Not a unique concept, but it does make sense.
1:45pm • #9

I agree with Jason...the best way to do business with a Realtor is to give them business.  You must be consistent though, and if you say you are going to do something, DO IT!

 

2:15pm • #10

Jason thank you for your comment... I too do agree.  Leads generate " a lot of lunches".

Thanks,

Lisa

6:12pm • #11
APR
02
2007

Hey Lisa, I too ran into the same obsticles. I have found plenty of different ways to get around this. Just show up to there office (weekly) it might be years before you get any business from this broker however someday they will notice your persistance and give you a shot! Showing your face as much as you can will show how serious and determined you are. Follow up is the most important thing, and I would say everyone is right never go in empty handed always bring goodies. Any questions I have plenty of other things that have worked for me feel free to pick my brain. Hope I was able to help, take care!

-Jake

5:35pm • #12

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Lisa Imbriani

Phoenix, AZ

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Partner- I and S Commercial Finance Inc.

Address: Scottsdale, AZ, 85250

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