Last week I was at a seminar that consisted mostly of real estate agents. The subject of loan officers came up and the crowd actually booed. Being 1 of the 3 loan officers in the room... I just looked around in amazement. Talk about a tough crowd!

Have you noticed real estate agents get a notable twitch when the subject of loan officers comes up? I am exaggerating here... but sometimes it does feel that way.

Some real estate agents act as if they are a superior class and I the lowly loan officer need to leave them alone. The funny part is... all I did was say hi and introduce myself.

Everything was going good until I told them what I did for a living. Talk about throwing out some judgment or stereo type before you really get to know me as a person!

Anyone who knows me knows that I am not a salesy person. I don't care for salesy people (not matter what they are selling) and I certainly don't act that way... My Type D personality would not allow that ;). I am not going to hand you a flyer (I would rather die first)... I am certainly not going to chase you down the hall or into your office trying to get you to give me a deal. So then why when I tell you what I do for a living do you assume this is how I will act?

The truth is I don't need your business. That does not mean I don't want your business!

The fact is... we generate enough leads every month to allow us to referral clients to Realtors. One local agent received over $13,000 in commissions last year from our referrals alone.

So now that we have addressed that I don't need anything from you... Can we move on to getting to know each other as people who share a common client base and real estate market?

What if you thought about my introduction a little differently? When I am out networking, I am looking for folks who are hustling in their business. It intrigues me to find out how people are thriving in our market and I feed off their energy. I love to talk about war stories and battles won and how they are constantly evolving and growing their business despite of brutal market storms.

Why?... Because we are both in the same boat. I love the banter back in forth when you find a real estate agent in the crowd who gives you that spark. Do you know what I am talking about? When you can almost finish each other's sentences because your day-to-day life in business is parallel... even though they sell homes and we sell mortgages.

So if I don't need your business, Then why am I out networking and introducing myself?... Fair enough!

The word of the day is L E V E R A G E.

If you are kicking butt selling homes and we are kicking butt financing them... How can we work together to play an even bigger game?

I don't know about you... but our business is way up this year and the opportunities are endless. What is not endless is the amount of hours in the day.

So how can I find a real estate agent with a similar business/marketing plan who is going after the same target market then build something great. Maybe it is an event or seminar... maybe a website or blog. Whatever the thing is... it does not matter! Just two highly dedicated teams who are working together to create something bigger than they could alone.

So if you are a real estate agent and you are guilty of turning on your heels and running for the door at the sight of a loan officer coming down the hall... think about what you might be missing out on.

Have an idea of how we can work together and go after some business together? Call me to discuss the possibilities!

This blog by:

Erin Newington
Sacramento Mortgage Planners
First Priority Financial
(916) 687-6868

 

 

 

Happy Hunting!

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7 Comments on The subject of loan officers came up and the crowd actually booed!

OCT
08
Outside Blog

I hear you loud and clear "Team."  I attract more than my share of buyers and refer them to Realtors - if only I could find a good Realtor - they seem to be in short supply.  Attitude is everything.  I have no use for arrogance and "holier than thou."  The door certainly swings both ways...

1:09am • #1
126,122 Points 5 Featured Posts Outside Blog

I have referred a lot of clients to a mortgage broker, and he never referred me anyone.  Hmmm . . .

1:14am • #2
1 Featured Post Outside Blog

Hi Erin-

Great thoughts on referral partners.  I wonder if so many people have as negative view because their lenders DON'T refer to them.  If your lender doesn't refer to you, because he/she doesn't think that you are an outstanding professional- that relationship, or someone's work ethic may need to change.  We are all in this together! I hope that Sacramento,my hometown, is treating you well!

1:18am • #3
3 Featured Posts Localism Sponsor Outside Blog

Rick: The door certainly swings both ways... It is funny how many agents don't take their business seriously .. IN OUR MARKET! I am learning that I need to have minimum standards of who we invest our time in. There is not enough time in the day to take advantage of all the opportunitiesright now in our market. I am done investing time with someone who is not going to work as a team to produce results. I have stuck to my guns on this one this year and it has made a huge impact to our bottom line.

Erin

1:37am • #4

Its a good thing nobody in that crowd mentioned appraisers - you might hava a riot on your hands.

4:35am • #5
OCT
09
Outside Blog Hit Router

Erin - it is amazing what you find out when you "move on to getting to know each other as people who share a common client base and real estate market", what you find out and how it opens up opportunities for everyone involved!  Great insight!

12:14am • #7
OCT
11
126,230 Points

Erin: Thanks for the post. I think realtors and loan officers will always have an interesting relationship. I tend to go into any relationship with no expectations these days. In fact, my favorite realtor is thankful and appreciative. We're just starting to work together after 3 years and it's been great so far. In our business, I think it's important to give and receive from multiple business partners. My best this year have been financial advisors. I'm always open to building new relationships although my standards are high. I expect to work with committed givers. If they can do that, I'm extremely loyal and grateful! Thanks again!

10:43am • #8

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Erin Newington, Sacramento Mortgage Planner

Elk Grove, CA

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(916) 687-6868 First Priority Financial

Address: 9381 E. Stockton Blvd. #200, Elk Grove, CA, 95624

Office Phone: (916) 687-6868 x 2

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