What Realtors Really Want From Loan Officers
Last week I was in Las Vegas at a private mastermind with some of the brightest people from around the world. I spent two days locked in a 9,000 sq ft home with nothing to do but make money with money making people. I spent quite a few hours with the members asking them questions one on one.
The reason I went was to find out how I can better help you!
I’ve spent the last 2 years building up a reputation in the real estate niche as a social media expert. Agents from all over the USA and Canada practice my methods of selling homes on Facebook and YouTube. I’ve managed to sell $100s of thousands of products and services to real estate agents. That’s no easy feat my friend. Realtors are constantly being pitched, and they only buy an average of 1 out of every 26 products pitched to them. At the height of our POSTfuser product we managed 72 Realtor’s personal Facebook page on a daily basis. Needless to say, I’ve built a good sized list of responsive agents. These Agents are honest and don’t sugar coat shit. I say all of this to let you know how I came across the information I’m about to share with you. I recently surveyed 50 top producing Realtors and asked them, What is the #1 thing they wanted from a mortgage person? Some of the answers I got back were really harsh. Turns out, some Realtors dislike Loan Officers with the same passion some Loan Officers dislike Realtors. It’s really a cats and dogs relationship. You can find this same scenario at any car dealership between the finance guys and sales guys.
The number #1 answer was “I want my loan officer to stop telling me how to do my job.” Before I give you the other top answers, let’s dissect them one by one. The facts are the facts. A below average Loan Officer sees twice as many transactions a year as an above average Realtor. Agents hate to admit it, but numbers don’t lie. The average LO does 2-3 loans a month. The average Realtor does 1 deal every 2 months. Agents need your help! They don’t want it though. You have to demonstrate a reason for them to want your help. Instead of pointing out their mistakes and telling the Agent how things need to be done, just do it for them. Delayed gratification pays the bills. Trust me. Don’t brag about it or boast about what you did. Just do it. The easier you make life on the Agent the more likely they are to keep using your services.
The #2 answer was “I want my mortgage person to answer the damn phone.” Let me first say I am disgusted and shocked that this would even come up. As much as Loan Officers bitch about Agents not answering the phone, how could Agents have the same problem? Easy. Your competition sucks! These days, business is all about information and communication. We have social media, text, email, voicemail, snail mail, phones and a million other ways to communicate. Why in the hell would anyone in sales avoid contact from their customers? That shit cray…
The #3 answer was “I want them to help me grow my business.” Now in the context that most Agents wrote this answer, I think they meant pay for advertising and stuff. A skilled Loan Officer can get around having to pay a dollar if they know what they are doing on social media. There are many ways you can bring benefit to an Agent that grows their business but does not cost you money. Help them make YouTube videos. Teach them how to write blog posts. Share their listings on Facebook and LinkedIn. All these little things stir up action. Even if you never make a sale for them, the Agent will see you taking action and want to send you business. So after reading all 50 surveys and organizing the top 3 answers, I am amazed. I’m amazed that there is so much wide open opportunity and so many Loan Officers dropping the ball. It almost makes me want to go back into originating. Instead, I’ll just continue to help the LOs I do work with take over. Here’s the deal:
Your competition is weak. I don’t care what part of the country you are in. Your competition is weak. That top producer you see that you are scared your gonna lose your Realtors to is weak. The problem is that you just might be weak. Being weak is a problem that can be fixed. Weak people just need to work out and become stronger. I doesn’t happen overnight. But little steps over a 30 day period could yield you two or three new Agents as referral partners. If you’re interested in learning more about how to attract and add value to the right type of Agents fill out the form below.