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Old 04-05-2011, 01:23 PM
 
2 posts, read 19,457 times
Reputation: 17

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I am just looking for some advice/tips from Realtors on how Mortgage Consultants can effectively build a relationship with you. I have been in the business for 18+ years. I have numerous business partners in other professions but I have always hit a wall with Realtors. I have tried everything in the book to build new relationships (broker opens, lunch, handing out pre-approvals, going to Realtor events, networking events etc etc etc). Over the years, I have worked with some fantastic Realtors and either their business dried up and they moved on or we somewhat drifted apart. I firmly believe that to be successful in this business you need to have many solid, diverse business relationships.

For those Realtors who are currently working with a "non-in house" loan officer.....what did that person do to get your business? Any details, stories, how they do business would be great. I am almost ready to give up on my search but I firmly believe that to be successful in this business you need to have many solid, diverse business relationships!

I am currently working with a VERY well know local credit union which is a huge help, but not enough.

Any help or advice would be greatly appreciated!

Have a great day!
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Old 04-05-2011, 02:20 PM
 
Location: Lakewood Ranch, FL
3,254 posts, read 3,269,571 times
Reputation: 2611
I think it's probably pretty simple. Have excellent customer service and communication, get the loan done with a minimum of fuss and no upset to my customer, and make sure the closing agent has everything a day early or sooner! That and provide helpful info regularly so we know what's going on in your world. The only reason I've ever moved away from a lender is that they screwed things up, didn't deliver what they promised, or turned off a buyer I sent to them. Do a good job and do it everytime....you'll get loyalty back.
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Old 04-05-2011, 03:38 PM
 
2 posts, read 19,457 times
Reputation: 17
I appreciate the response....I was more interested in how to get the opportunity rather than take full advantage of one.

I normally have no issue with giving top notch service, updates and quick closings. I have more of an issue with meeting new realtors to connect with. I have tried offering new pre-approvals, seminars, lunches, fully sponsored broker opens but I get a very limited response (if any).

I was just hoping for that magical piece of advice...something that all realtors are looking for in the perfect mortgage consultant.
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Old 04-05-2011, 04:53 PM
 
Location: Lakewood Ranch, FL
3,254 posts, read 3,269,571 times
Reputation: 2611
Sorry, I didn't catch your direction. I've worked with three brokers so far and all had office meetings (with limited attendence) where we would occasionally have a lender or mortgage broker come in and update us on the products they had, the way the system works, rates, time to get approval, etc. Typically, they always provide something to eat or drink, too. I guess I always liked the ones who provided knowledge and insight into your end of the business....things we didn't typically know or deal with. I've also had some provide a pdf with payment info for the back of a flyer customized for my property that I could use for an open house or whatever.
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Old 04-05-2011, 05:05 PM
 
Location: Salem, OR
10,993 posts, read 18,889,531 times
Reputation: 6945
All the people on my list I did transactions with and they just impressed me so they are on my list. The problem that you have is that in this market, with lending being the way it is, we agents are leery. We want lenders we trust.

I know that I wouldn't refer someone to a lender I have never worked with just because they were nice or gave me food. I wish I had an answer for you, but because I have people I trust...I'm not willing to go to someone on the chance that they might be good.
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Old 04-05-2011, 07:04 PM
 
Location: New York
158 posts, read 253,482 times
Reputation: 152
My favorite broker stops by every agency in town every other Tuesday and finds out the scoop on every deal in town. He knows my market as well as I do, even though he lives an hour away. He's never offended if I am too busy to talk. He remembers that majority of referrals come from local agents and bends over backwards to get our deals through because his reputation is on the line. I know damn well if I send someone his way he will get the ball rolling the same day.
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Old 04-06-2011, 05:51 AM
 
Location: Louisville KY Metro area
4,809 posts, read 8,255,830 times
Reputation: 1958
Don't expect my business, earn it! Don't overwhelm me, educate me! Don't overstate, explain with facts.

The hardest job of all, take your time, but be there. Show value everytime you open my door or send me a message.

Dress as a business person. Business casual is fine, but if you look thrown together, that's a problem.

Take an interest in my business, my people, my clients. People living in "riverdale" and "hillcrest" although in the same county or area are different, they have different needs, know the difference.

And finally, make our work a team effort, even if you are "on the bench."
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Old 04-06-2011, 04:27 PM
 
Location: Columbia, SC
7,033 posts, read 11,161,829 times
Reputation: 3555
For me to try a new lender they need a product my go to lenders don't have for a shot to earn future business. I have a good relationship with a few lenders and I'm not going to take a deal from them just to try someone new.

My suggestion is when you have a buyer that isn't working with an agent yet, refer them over to a lender you've been trying to earn business from. Do a great job and see if it earns you some referrals back. Of course, have the conversation with the agent first about referring them someone back and talk about wanting reciprocal business back up front. Then to keep them follow BBronston's advice.
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Old 04-17-2013, 09:45 AM
 
1 posts, read 7,685 times
Reputation: 12
Default Im a lender

I've tried sending referrals to realtors all they do is take MY client to their lender.
Im knowledgable. I have great customer service and turn times. I dress well. I don't know why its so common? I mean wouldn't they want more referrals from me in the future?
What are some other ways to get realtors to refer back?
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Old 04-17-2013, 01:00 PM
 
Location: Columbia, SC
7,033 posts, read 11,161,829 times
Reputation: 3555
Quote:
Originally Posted by kari harmon View Post
I've tried sending referrals to realtors all they do is take MY client to their lender.
Im knowledgable. I have great customer service and turn times. I dress well. I don't know why its so common? I mean wouldn't they want more referrals from me in the future?
What are some other ways to get realtors to refer back?
Be upfront that they are expected to keep your clients with you. That's just bad service from the agents and not really excusable.
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