As a loan officer, one of major ways I've learned to position myself in the industry is by the law of reciprocity. It's a really great feeling to call a Realtor with whom you would like to establish a relationship with and be able to introduce yourself with a new client for them. Let's face it, we are all working a little harder these days to generate business. I have found that one way to keep a Realtor loyal is to honor a code of reciprocity. Here are a few ideas to help with generating free to low cost leads to pass on to your Sphere of Influence:
1. FSBO Marketing: It's actually sometimes easier as an LO to talk to FSBO's than it is for an agent, much less resistance in the order and at the end of the day if the marketing is working out the way they have, you have the opportunity to introduce your Favorite Sales Agent and still be the preferred lender. FREE
2. Newspaper Ads: The cost of a 10 day ad in Chicago is about $100. It was well worth the 200 Calls I received. LOW COST on return
3. Start a Rent to Own Campaign: With Financing Options Constantly changing, this is a great way to turn renters into homeowners, while building a solid referral base and pipleline for future business. FREE
4. Signs: I use a couple of Signs (Low to No Down Payment / 100% Financing) I use these with Realtors and I get just as many calls as the Realtor does. Also, WE BUY HOUSES..... with Foreclosures on the rise, this is a great way to see if some folks qualify for FHA SECURE and / or if they are looking to sell. Of course, you need a really aggressive Realtor to work with you on this campaign as the clock is typically ticking. I sometimes have investors who are ready willing and able to buy immediately. LOW COST ON RETURN (Signs average about $3 a piece
5. Tele-Seminars: Easy, cost effective. This allows you to recruit new professionals to speak before an audience right from the comfort of their own home or office. It also allows the consumer / potential clients the ability to attend a Seminar hassle free, no babysitter needed, not more than an hour of their time because they don't have to travel to and fro and you can even record the teleseminar and send it to those who weren't able to make it! FREE
So, where there's a will there's a way...... Let's make it a great 08! Partnerships that produce profit are the most loyal ones!
Cecelia Marlow - Senior Mortgage Consultant - 773-782-6000
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