Randy DeMille - More Realtor Business Now
R.Randy DeMille, NMLS#112145
AtlanticBayMortgage
(757) 222-4904
randydemille@atlanticbay.com
www.atlanticbay.com/randydemille
Four parts of sale: Initial Contact, Build Rapport, Close, Follow up
Your job is to create more leads than you can handle.
Get one great referral partner every quarter.
Initial Contact:
Three ways to get realtor relationships: Buddy program, Attack listing agent, and Cold Calling.
Buddy Program: Triangle of trust.
“I’d love to grab some lunch with you today, or if you have time we can do Wednesday. How can I help you get more business? By the way, would you invite somebody to lunch with you, because I know that if they are anything like you at all, I need your help, I need to grow my business, and I only want to work with people like you.”
Honor the relationship.
Market the listing agent:
Update every Tuesday. Hand deliver the approval.
Post-close survey:
“I just wanted to follow up with you. We closed the deal at 123 Main Street, and I wanted to follow up with you real quick and do a post-closing survey. It’s only 4-5 questions – I do this on every deal that I close and I’m always looking for ways to get better at what we do, because probably like you, we get 100% of our business by referral.
Did you get updates from us every week? And on a scale of one to ten, how did you find those updates?
Did the loan close on time?
Did anything come up that was a surprise to you?
Hey, so the last question I have for you is Can I come and meet you tomorrow morning by and bring you a cup of coffee? Great, I want to come meet you. I want to talk about how you do business and figure out if there is a way for us to work together.”
Let them know that the reason for the appointment is to earn their business!
Cold Calling:
Base your success on the number of appointments you are setting, not just the number of calls you are making. Keep calling once you get the first appointment.
Honor them, use triangle of trust if possible (mention common agent or name or something else to agree on).
“I’ve heard great things about you in the industry, and I told myself I’ve got to meet you. I’m going to be in your office (or area) tomorrow at 3:00, and I want to stop by and bring you a cup of coffee. Is it ok if I can get fifteen minutes of your time?”
If no, ask why.
If they can’t meet at the time you suggest, say “that’s exactly what I expected you to say, because I knew that you were really good in the business, you’re getting it done, and I figured you’d be really crushed with your time. What is typically the best day of the week for me to swing by your office?”
Ten calls = Three appointments = one closed deal
Build rapport: (for prospective or current accounts)
Purpose of meeting: To partner on something, To service as an account, and/or To repair the account.
“Hey thanks so much for taking the time. I know you promised me fifteen minutes, and my promise is that I’m going to stick with that. I have a quick question for you to get us started. I looked at some of your numbers, I did some homework up front, and found that you did 47 buyer-sides last year, you’ve already done 32 buyer-sides this year, and in addition to that, you are carrying 23 listings. I know you’re working it and that’s a ton of people to talk to and a ton of business in our market. How do you do real estate? How do you get that much done?”
“How long have you been in the business?” This is an important question for me, because when I see someone who is successful like you, I like to pick their brain a little bit. What do you see as the next change coming in the market?” (Expand example: I look at our local market think if I would have just gone after REO agents earlier, I would have done a ton of business. And for a real estate agent, I talk to a lot of realtors and they say if I would have called on those REO accounts earlier, that would have really helped my business.
“So what is your plan, and how are you going to take advantage of those changes?”
“I agree. And I think those changes are going to happen. I think the person whoever positions themselves the quickest is going to be the one who takes advantage of it the best. So I’ve got some ideas I wanted to share with you afterwards, but before I get to that, but just sticking with the topic in today’s market and kind of switching gears, what’s your biggest frustration in real estate right now?”
“And what is your biggest frustration in lending? What would it look like if you had a lender who could meet closings on time with no surprises, close accurately, and keep you up to date weekly during the transaction?”
Get information to close them on. Partner with them for H.R. campaign, first time buyers, EZ-start. Ask as many questions as they will let you.
Also can ask “what was your goal for last year? Did you hit your goal? What is your goal for this year and are you on track for your goal? What is your goal for next year and how are you expecting to bridge that gap. What makes you so successful? What makes you so different? Why are you able to do $10 million in this environment when most are struggling to do $5 million?
Who is your current lender? Do you hand out multiple cards? Ok, well who are your number two and number three lender? Why do you use your number one lender? What is it that they do great? Is there anything that they can improve on?
If you could be a lender for a day, what would you change?
Then give your elevator speech,
“I’m Randy DeMille with Atlantic Bay Mortgage in Virginia Beach. I’ve been a loan officer there since 1997 and I close my loans on time, close accurately, and keep you up to date during the process. I’m looking for real estate agents who want to grow their business.”
and follow up with “is there anything else you would like to know about me?”
“To summarize, your biggest frustration in lending is (communication and that you would love to get Tuesday update calls) and (that missing closing dates is complete unacceptable) and (you also told me I heard that when you call a lender on your cell phone, you want to hear back from them the same day). Did I miss anything?”
Randy DeMille,AtlanticBay Mortgage, 757-222-4904
Close:
“I’d like to follow up with you on two things. I know we are running up on the end of our fifteen minutes. I can tell by the way you do business that we get along great and that our businesses are in line, and I like working with people like me, and I like working with people I can trust and have a plan. And you’ve shown all that in the last fifteen minutes. There’s a few areas that I think I can really improve your business, and actually believe it or not, I’m willing to give that to you so you can help your lender, because I need lenders to have a better name, so next week, same time, same place, can I meet with you again for fifteen more minutes so I can show you some ideas that can help you bridge those gaps for better lending. Is that possible?”
“As you know, I make my living doing mortgages and I’m 100% commissioned, so I would love to earn your business. I understand that you have a number one lender already, and they have a great reputation and I’m happy that you’re working with them. So can I be your number two person?”
“Is there anybody that you’re working with right now that you’ve been having problems getting closed that I can get their name & number right now and see if I can get that done and make you more money?”
Follow up:
Be consistent!
Must be a follow up hand-written letter or even on letterhead.
1. Honor, 2. Mention that you heard them, and 3. Confirmation of future actions.
“Thank you so much for your time today, and getting to know you and also about your business. What I heard that was important to you was that 1. closing on time is of utmost importance to you, 2. that you want phone calls returned the same day, and 3. you love the idea of Tuesday update calls. If I missed anything, please let me know. Otherwise, I look forward to our follow up meeting next week.”
Mail, Call, Visit as often as possible, but Prospects need to be at least once a month!
Also, ask for two items:
1. “All of the realtors that I work with, I e-mail them every week a program
highlight of the week, guideline change or new program. I only e-mail it to realtors
who want it and who I work with. Can I put you on that list?”
2. “On Mondays, the realtors that I work with I call them every Monday to see if there’s anybody they need help following up with. Sometimes it’s to pick up leads, sometimes it’s so that people that you met with over the weekend, that maybe you want someone else to call and give a shot. I represent myself as Randy with the xxxx Real Estate Team, so it comes as a call is from you. It’s an extra touch, and if it’s something that you don’t have to do if you don’t have the time but I really feel like those calls in the beginning of the week after meeting them on the weekend are huge, and a lot of times realtors, you guys are just too busy, so for the realtors that I work with, I call them on Mondays to see if there’s anybody that they need help with. Can I put you on that list?”
Randy DeMille – Doctor/Nurse, How to effectively create job segmentation.
R.Randy DeMille, NMLS#112145
AtlanticBayMortgage
(757) 222-4904
randydemille@atlanticbay.com
www.atlanticbay.com/randydemille
Much of the information gathered is credited to The Core Training Group.
Randy DeMille
Comments(0)