Janet Guilbault wrote one of the best blogs that I have read here all year titled
Why I Think Realtors Are Missing A Great Opportunity to Connect With Mortgage Brokers .
That specific article struck a chord with many of us here in the community. The comments streamed in from every angle. Comments such as don't schmooze with food and stuff just come ask for business, stay with whatever you are doing for a long time, write more educational posts etc. All of the comments had a lot of meat to them. Ok, where am I going with this one?
Whether you are a Realtor, Loan Officer, Escrow Officer or wholesale account representative the name of the game is consistency. Consistency is what allows other professionals to see your work ethic, get to know your personality and gives the time for knowledgable conversation. In some rare cases, as a Loan Officer, we can jump in save a deal and get the attention of the Real Estate agents involved in the transaction. Heck I have gotten the attention of an escrow officer and ended up doing their loan. We are in sales and sales come from two things: relationships and asking for the business. You cannot gain someone's business just because they like you and you cannot get their business just from asking. It also does not always take a lot of time to create a good relationship but will take time to keep it.
I think that if you are not networking with BUSINESS PROFESSIONALS is some way shape form or fashion you are missing the boat. Jeffrey Belonger, whom I think writes awesome educational posts stated in his comment that we should provide educational blogs for long periods of time with a few thought provoking blogs. I agree. I also think that education is the key but spewing out technical information in my opinion proves very little and the same goes for all thought provoking articles. Anyone can grab the information and post an informational blog in their own words. The execution is what separates loan officers from others. Three times this week I had to explain to different underwriters why the conditions were acceptable. That is our job as Loan Officers not Loan Originators and beleive me when I say there is a difference.
Our company based on the suggestion of a few of us Loan Officers hold trainings for our Realtors that we work with. The Training is so that the team of professionals all understand little nuiances in lending that will make our offers stronger, stregthen our knowlegde with our consumers and insure smoother closings. Our upcoming training is on Energy Efficient Mortgages and 203K. We sit and learn a little then we take the time to strategize on current consumers situations and further marketing. Realtionship building in our industry is two fold.
Here is what I mean by two fold. To close a transaction it takes several people working TOGETHER. One Transaction may include but is not limited to the following: The buyer, the seller, the selling agent, the listing agent, the loan officer, home stager, escrow officer, home inspector, appraiser, pest inspector, and sometimes a transaction coordinator. So many opportutnites to build your business. I feel that it is my obligation to get to know each of the parties and keep them all informed on the progress of the transaction. I think that we all agree that without the money the deal is dead so the Loan Officer can be the goat, the hero or party to the transaction. I strive to be party to the transaction. WHY? Being party to the transaction means that I have done my job well, kept people up to date, did no whining and delivered as promised. That is what I do for a living. From there I will keep in touch with all parties. I will try to establish a working realtionship with all parties in the future and I do this in a variety of ways. If someone is very happy with their Loan Officer I say that is great. Keep my number and I will stay in touch. If for any reason you need me please give me a call. I do the same with all parties.
After the transaction, I go back to the words of Jeffrey Belonger sand remain consistent with my follow up, the information I provide and my intentions.
In summary, what I am saying is this. We all need each other and if we are not networking together to create teams of professionals that can close transactions we are missing out completely. Realtors can reach out to Loan Officers, Loan Officers to Realtors and many other combinations. If you have a team don't be rigid. Sometimes a pinch hitter can come in and play right beside you. If the team reaches out to this pich hitter your team grows. Work with an open mind in this industry. Give each player the benefit of the doubt and if they play hard, with fundamentals and stay humble thank them and move on but keep their number. There is something much, much, more available to us Real Estate professionals. Keep your minds open, loosen up, build realtionships and ask for the business.
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