This morning I received this email from Francis, a new loan officer in seek so advise:

Hi Rhonda,

I am fairly new to the Mortgage Loan Origination industry - Certified WA State Loan Originator License #....

I am looking for directions on how best to try and get Realtors to partner with me so I can get their referral business.

Any advise?

First of all, congratulations on taking all the steps necessary to become a Licensed Loan Originator for Washington state.   Many of our Washington Loan Origination brother and sisters did not meet the December 31, 2007 deadline or have decided to opt for a different career. 

With my 8th anniversary in the mortgage industry coming up on April Fools...I'm kind of an "old dog" in the mortgage biz, as sad as that may sound.  I entered this industry after 14 years in the title and escrow industry with many agent relationships all ready established...I was extremely lucky.

Even as an "old dog", I'm still looking for new relationships.   Especially when I have really enjoyed working with an agent on a transaction.   Here are my recommendations:

1. Start with you.  What do you have to offer real estate agents that sets you apart from other Loan Originators?  Why are you unique?  
2. Who do you know?  Send out a letter or call your friends, family, former co-workers...anyone and everyone you know, letting them know that you are looking to meet real estate agents.  Ask them who they have worked with in the past that they were pleased with.  (Hopefully you all ready have your personal sphere in a database, such as ACT).   Follow up and ask if you can contact their agent and use your friends name as a "reference"
3. What type of client do you prefer working with?  Do you prefer first time home buyers? Investment properties?  What transactions have been the most enjoyable for you?  Define your ideal borrower and keep this in mind when seeking agents. 
4. Don't forget Listing Agents.  When you have a transaction, be sure to contact the Listing Agent and introduce yourself.  Many LOs go through an entire transaction never speaking with the Seller's Agent--what a mistake!  Follow up after closing to let them know you enjoyed working with them on a successful transaction.
5. Blogging.  Blogging has been a great way for me to meet fellow mortgage professionals and real estate agents and consumers in need of your advise.  I wouldn't blog alone and expect business to come my way.   This has been a "side benefit".  You can start your own blog whether it's on your own platform, like Mortgage Porter, or use Active Rain if you're just starting out.  
6. Be an expert.  Continue to learn and attend industry courses.  Knowledge can overcome being new to the industry.  I decided to obtain my CMPS in order to distinguish myself from the pack.  You don't have to have a designation to be an expert.  In fact, Barry Habib of Mortgage Market Guide will be in Seattle for a free seminar this Friday.  

I think it's important to start searching for clients (borrowers) first and real estate agents second.   Do begin with those you know and don't be shy about letting them know you're in the business of helping people finance their homes.   You must provide exceptional service or it won't matter how many agents or borrowers you meet.  

The key to a successful mortgage practice is to provide exceptional service so that you can create a repeat and referral based business.  With fewer LOs in Washington (at least, fewer licensed ones), this is a great time to be a mortgage professional.  Over half of our competition is gone (or cannot originate mortgages until they complete the licensing process).

One last bit of advise, check out Tony Gallego's blog:  The Mortgage Cicerone.  Jeff Chasin has a nice blog gearred towards helping mortgage professionals, too.  Update:  I just realized I forgot Lenderama (and I'm sure many others).

Does the Active Rain Community have any suggestions for Francis and other fairly new Loan Originators?