Working with Realtors

By
Mortgage and Lending with Reliant Financial Group
I'm going to go out on a limb here and be quite honest. I am newer to the mortgage business, and it seems that everyone recommends that I partner up with realtors to drive my loan origination business. That makes sense, but it seems as though for every realtor there are ten mortgage officers beating down their door to get their referrals.

So, the question is, why am I different? Can anyone shed any light as to what I can do to earn a realtors partnership?

Thanks for your thoughts.
Justin
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realtor
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Rainer
188,414
Laurie Manny
Long Beach CA Real Estate - Long Beach, CA
That is easy.  If you refer clients to Realtors, they will send you business.
Mar 01, 2007 03:09 AM #1
Rainmaker
335,122
Ann Cummings
RE/MAX By The Bay - NH and Maine - Portsmouth, NH
Portsmouth NH Homes - Service With a Smile!

Justin - take a look around your service area and see which agents are doing business.  Call to see if you can set up face-to-face meetings with them to introduce yourself.  Show them how you work, ask for them to give you a chance.  Keep doing this.  I've given loan officers a chance who took the time to do just this - some have worked out and some haven't.  But I have great respect for those who put this kind of effort into developing new business. 

AnnCummings.com

Mar 01, 2007 06:31 AM #2
Anonymous
Anonymous
Anonymous

Justin - I have a friend in the mortgage business and as a REALTOR, we've spend some time discussing recently how he can increase his business. Look for ways to help the REALTOR increase their business. What does any agent want most? More buyers and sellers. Offer to send leads their way as you get them, find marketing tools that you can offer them that make their job easier, perhaps you can work up a worksheet with different loan options that the agent can include as part of their listing packet? Offer to speak about new products at weekly sales meetings. Provide food for broker open houses in exchange for face time with area agents. And most of all, follow through with EVERYTHING you say you will do.

Link Moser
New Hampshire Link Realty LLC
 

Mar 01, 2007 06:41 AM #3
Rainer
150,430
Cynthia Sloop
Community Association Manager - Indianapolis, IN
Justin as a former L/O that asked the same question as you are asking and now a Realtor, Link gave one of the number one items you can do.  BUT you maybe thinking, I don't have any leads, I'm too new how am I ever going to earn there business?  Consistantly keeping your face before them does help.  Offer to look over a deal that maybe going bad.  Offer to help fix someone's credit so they can purchase a home.  Offer to pay for postage on a mailer with both of you featured.  You truly do have to give before most will ever give back to you.  Find something the Realtors you want to work with really need and then try to provide it.  I wish you the best on partnering and growing your business.
Mar 01, 2007 10:01 AM #4
Rainer
4,094
Justin Swapp
Reliant Financial Group - Layton, UT

Thank you for the feedback folks. These are outstanding comments. I will put those into practice!


Thanks

Justin Swapp

Mar 01, 2007 10:17 AM #5
Rainmaker
261,530
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI
As a Realtor, I know that a bad loan officer can make a deal go south very quickly. We tend to stick with people we trust. People we have a proven track record with. The best way to get my attention, is to bring me a lead and you do the mortgage. This builds trust. I have given my mortgage guy far more business than he has given me. Spend time finding clients and Realtors will be coming to you.
Mar 03, 2007 02:30 AM #6
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Rainer
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