What is a POWER PARTNER? Who are your power partner's????

By
Mortgage and Lending with Social Media - Infinity Home Mortgage Company, Inc

I was inspired in writing this topic after reading ANGELA PHILLIPS blog; CO-BRANDING. Power partner is a term that is frequently used in severl networking groups. I actually did a post on networking, Networking Groups..... How important can they be to your business..... several weeks ago and George Souto did a good blog on Are You Working Your Network.....OR.....Are You Missing Out???

power partners

Power Partners can be described as those people that you would want to associate with in order to have a good referal source around you. I think so many of us over-look those around us that are a part of this definition.

An example of this. You are a Realtor. Your power partners would be:

  1. Loan Officer
  2. title company/clerk
  3. home inspector
  4. appraiser (this would be slim)
  5. homeowner agents
  6. financial planners
  7. past clients and their referrals
  8. divorce attorneys per Blanca Cholewczynski

Your are a loan officer:

  1. Realtor
  2. financial planners/accountants/CPAs
  3. bankruptcy attorneys
  4. title companies/clerks
  5. real estate attornerys
  6. appraisers
  7. homeowner agents
  8. past clients and their
  9. divorce attorneys  per Blanca Cholewczynski

I hear many of you that talk about how things have slowed down. I speak to realtors daily that tell me that the loan officer's are back out on the street again and that they are receiving the typical donuts again. Brian Brady, are you bringing the donuts again?  ;o)  Two reasons why I am still busy. I was still in front of those realtors in the past 2 to 3 years and they see this. The other is that I have actually gone up to some of these power partners that I do business with and not really ask them, but basically say... " I would like you to introduce me to some of your contacts." I just did this with one of my title companies that I give business to. See, they all have been busy and haven't had time to network or even come to me. So I went to them and said that I would like to set something up. And yes...as a side note, referrals and my past clients have helped me tremendously. But building these other groups around you is what will propel you into the next category of greatness.

There is that old saying that you should surround yourself with good and great people; and groups of great people. And that you have to believe in this and not just take anyone into your group. The stronger will survive. When I first started in this business back in 1992, I was told to just line up all the realtors that I could find. Well, after many years of being in this business, I don't really believe in this so-called theory. It works for some, but only in the overall scheme of that almighty dollar. One of my inspirational quotes.."work smarter & wiser". Being surrounded by large numbers doesn't always get you more business and can be more time consuming.   THANKS for reading this.

*****and the examples that I used for the realtor and loan officer lists are in no specific order.*****

Posted by

_____________________________________________________________________________________________________________________________

 

 

follow Jeff Belonger on Twitter

 

The FHA Expert's fan page on Facebook     Add Jeff Belonger to your network @ LinkedIN

                                                                            FOLLOW ME ON FACEBOOK

 

 

- FHA Loans - USDA Loans - VA Loans -

- Energy Efficient Mortgages - 

- Conventional Loans - 203 k loans -

- FHA Home Loans - Mortgages -

 

Experience & Knowledge at its BEST !!!

 

 

Follow me on:

Mortgage Myth Busters

 

______________________________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags!

HUD

 

For information about FHA myths & FHA rumors, please read : FHA Myths & Rumors

 

Copyright © 2011 by Jeff Belonger of Infinity Home Mortgage Company, Inc

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Groups:
Realtors®
The Lounge at Active Rain
Almost Anything Goes
Bloggers Choice Selections
Tags:
realtors
mortgages
fha
new jersey
referrals
networking
jeffmortgageman

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
101,070
Robert D. Ashby
Visual Approach Aerial Photography (Visual Approach Photography) - Plantation, FL
Turning Visions into Photographs (and Videos)
You can also add immigration to the attorney list.
Nov 09, 2006 03:09 AM #5
Ambassador
749,223
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Robert....  thanks for the input...I made a slight change...

Adam...... damn,..... I will update this. Sure, attorneys in general...but Bankruptcy attorney's for loan officers is an awesome answer.  thanks   My mind is just tired and over-worked.

Nov 09, 2006 03:13 AM #6
Rainmaker
101,070
Robert D. Ashby
Visual Approach Aerial Photography (Visual Approach Photography) - Plantation, FL
Turning Visions into Photographs (and Videos)
Yo tengo cafe con leche aqui, tan fuerte.
Nov 09, 2006 03:17 AM #7
Rainer
2,589
PFE Administrator
Pre Foreclosure Experts - Irvine, CA
Cafe con leche?  Quiero un doble.
Nov 09, 2006 03:23 AM #8
Rainer
96,036
Jason Price
Mortgage Financial Group, Inc - Eustis, FL

Jeff,

I would add estate planners/attorneys for the loan officers, too.  I have gotten some business from them as well.

Great Post...

Thanks. 

Nov 09, 2006 03:32 AM #9
Rainer
151,706
Cynthia Sloop
Community Association Manager - Indianapolis, IN
Thanks for your thoughts and list.  I'll save it for an L/O next time I hear whinning I'll hand them a list!  Good article.
Nov 09, 2006 03:48 AM #10
Rainer
72,831
Karl Christen
Independent Leadership & Financial Fitness Consultant - Pleasant Grove, UT

I would also suggest that you work deep.  In other words, you figure out who your best partners are and you expand and cultivate that relationship and perhaps take it to a whole new level.

Ask yourself these questions.

1.  Am I also the taker, or do I give to this relationship as well.

2.  Does my marketing include opportunities for my referral relationships to benefit as well.

Thats why I love working with financial planners.  I can help them in terms of the clients that I succesfully educate in regards to equity management because these same borrowers use these same FP's for advice, and there are also opportunities to help P&C Insurance agents due to the insurance review we do everytime we pull an application for a mortgage.  I will be writing a blog on this process shortly.

 

Nov 09, 2006 04:00 AM #11
Rainer
213,043
Eddy Martinez
Nationwide Funding Group - Highland Park, CA
Great Blog, actually financial planners have been referring me tremendous amounts of business even more than realtors. All i do is refer them clients needing financial planning assistance..............
Nov 09, 2006 04:32 AM #12
Rainmaker
206,209
Chris Tesch
RE/MAX Bryan-College Station - College Station, TX
College Station, Texas Real Estate
My lenders all have several agents that they work with fairly consistantly, as does the title company and quite a few of the people on the list...I always find that I'm giving them business but not getting back quite as much as I give.  I always want to associate myself with the best service providers possible for my clients and they are well known by other agents as well.
Nov 09, 2006 04:33 AM #13
Ambassador
3,616,199
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff, that is a good list of people to form relationships with.

I also agree that in order to stay busy, you have to be in front of the people you do business with all the time. That means being in front of them when times are good as well as bad. We can't just show up on their door step when business is slow.

Thank you for the mention above, keep the info coming. 

Nov 09, 2006 04:41 AM #14
Ambassador
575,263
Rich Jacobson
Fathom Realty West Sound - Poulsbo, WA
Your Kitsap County WA Real Estate Broker
Jeff, Great post! It's all about relaltionships. One of the best ways to develop the strength and longevity of your business is to invest in your "power" partners - those like-minded people within your daily sphere that you trust and respect, who have the same passion for clients that you do.
Nov 09, 2006 04:56 AM #15
Rainmaker
230,742
Craig Schiller
Trempealeau, WI

Jeff...

Hellooooooo... um STAGERS!!!!!

I have had a number of clients call US before they call in a realtor. It has happened MORE than once!

You guys better start being nice to us. When was the last time you hugged a stager?

stage it forward...

Me

Nov 09, 2006 10:57 AM #16
Rainer
58,077
Christine Adler
FindAHomeWithMe.com - Fort Lauderdale, FL
SE Palm Beach, Broward & NE Miami-Dade Counties FL
Great post. I just had lunch with a Certified Financial Planner to discuss ways we can maket together.
Nov 09, 2006 12:08 PM #17
Rainer
133,300
Susan Trombley
Trombley Real Estate - Wake Forest, NC
Broker/Realtor, Raleigh, Cary, Wake Forest, Youngs

Jeff

I agree with Craig, you really should start not just thinking about stagers but, use stagers to help your clients.

Nov 09, 2006 02:10 PM #18
Rainmaker
1,763,809
John Novak
Keller Williams Realty The Marketplace - Las Vegas, NV
Henderson, Las Vegas and Summerlin Real Estate
This parallels the 'Allied Resources' group in the lead generation model from The Millionaire Real Estate Agent. Developing relationships with the right power partners can definitely have an impact on all involved.
Nov 09, 2006 04:54 PM #19
Rainmaker
101,070
Robert D. Ashby
Visual Approach Aerial Photography (Visual Approach Photography) - Plantation, FL
Turning Visions into Photographs (and Videos)

Jeff,

Did you take the church family thing out.  I was kinding! Why on earth would I be offended by that?

Nov 10, 2006 01:20 PM #20
Ambassador
749,223
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

You forgot bakery owners.  Every loan officer needs a good in at the donut shop.

I might offer union reps.  Cops, firemen, techaers all have them and they are HUGE infulencers.

along those lines, HR managers can make for good pr partners if you want to pursue the employee benefit angle.

Nov 10, 2006 06:09 PM #21
Rainer
53,146
Ron Withers ----Retired Mortgage Professional
Kissimmee, FL

Jeff,

Another great post. It brought Verizons commercial to mind. It's the NETWORK with, for and behind you.

Nov 10, 2006 11:44 PM #22
Ambassador
749,223
Jeff Belonger
Social Media - Infinity Home Mortgage Company, Inc - Cherry Hill, NJ
The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans

Jason...... estate planners or attorneys would be good. But one thing that people keep losing site though. I would focus on those that you can get more business from... and not just one referral a year from. Don't get me wrong, any referral is awesome. But, at the same time, I need to focus my time on my return also.

Cynthia...... LOL... go ahead an hand it to that whinning loan officer. But then again, let them think of this themself. You need to be on your toes in this business and always thinking. Those that don't, show me that they put no effort into their business.

Karl........ you hit the nail on the head. I kind of mentioned this in my comment to Cynthia. Basically focusing on those that give you the biggest return.

And the other thing that you mentioned that is key. GIVING also a biggie here. And if you can give back some, it just solidifies the relationship.

Eddy........ thanks for stopping by. I just mentioned this above. Good luck.

Chris........... I agree with your last statement. In regards to your first statement. Maybe you should look some where else then. But it does come down to the service that they give your clients. If it's excellent, you might not want to disturb this. I have seen agents hurt their clients service and getting a good deal and go to those that might be average. Greed can sometimes bite you in the butt.

George......... thanks for the compliment. And yes, good or bad times.... you need to be in their face either way.

Rich......... thanks for the polite words. And yes, keeping those relationships happy.

Craig......... I agree... real estate staggers are huge. I might not find them as much of a power partner for myself, but I know they are key to realtors.

I actually did a mortgage for a real estate stagger. And I have referred her to a client in the past. I am also trying to get her in front of realtors.

Christine........ thanks for stopping by.

Susan....... I agree...as I just mentioned 2 comments ago.

John........ I agree and I am really pushing this concept on my loan officers.

Robert....... I don't know why. I didn't really have it in this post, but I did add this in one of my comments.

Brian........ yes, bakery owners for Mr Brian Brady and his donuts. Why don't you just buy a bakery.... lol

HR departments are an awesome place. And asking them or the VP if you can come in and talk to their company. I have tried that and it's hard because of company policys and such.

I did just make a contact with a Branch manager of a bank. I will refer him my home equity loans and he will refer those that can't help when it comes to hard to place mortgages.

Ron......... Thanks for the compliment and for stopping by again.

Nov 11, 2006 05:05 AM #23
Rainer
75,000
Derk Simonson
ReMax Coastal Properties La Jolla and Pacific Beach, San Diego - La Jolla, CA
Ex-builder, long time Realtor

Hi Jeff - I'm about to set up a networking group and I was searching AR posts for ideas about particular professions that might be good partner candidates.  This was very helpful.  By any chance have you got a list compiled, or have any other ideas come to you since this post?  Thanks  derk@derk1.com  San Diego

Jul 17, 2011 06:57 AM #24
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
749,223

Jeff Belonger

The FHA Expert - FHA Loans - FHA mortgages - USDA loans - VA Loans
Ask me a question
*
*
*
*
Spam prevention

Additional Information