What is getting you business from Realtors?

builderbob · Joined: 08 Jun 2005 Posts: 2 Location: California

I'm wondering what people are using to get business from Realtors. And really from Realtors you don't know. Does anyone have or know of a system for building those relationships?

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Best way to get in with realtors is to close loans quickly. Keep them up to current on what's going on. I've been doing quite well with word of mouth from Realtors that I have closed with, and in our area, my company had a very bad rep about 12 months before I got here. It's been very difficult to get people interested, but after a couple of loans that go smoothly the people we've closed are happy to talk to their pals. (And realtors here go to lunch together all the time.)

From our perspective we couldn't just take a direct sales approach, we had to go a bit more passive in our approach. Just make sure you're honest with them, and don't jerk them around.

So what am I using? Just my own business and personality. It's so much easier for someone else to sell you to other people :)

chow · Posted: Wed Jun 08, 2005 8:12 pm Post subject:

Everything Haplo said, but I might ad-You need to keep your name and face in front of them. It takes 10 cold calls, with the same people to get any business. Start the circle small, and just keep calling on the same people.

Heck, I know some people so well, they know not to call me after 7pm, They can call any time after 6 am, and our cell phones even can call each other for free. We didn't plan it, We've just found out who did what, and where, and we just work it out.

It drives my husband nuts how well we all know each other, but we've all done the same things with each other for years. We give each other business. It works.

Haplo · Joined: 20 Jan 2005 Posts: 2422 Location: Springfield, IL

Haha, I had a friend that visited me about 4 weeks ago now and she was floored that everywhere we went outside the house i knew people. I mean, this place isn't THAT small, 115,000 people here, but everywhere there was someone i had done business with or someone that was a referral partner etc. Was quite fun :)

chow · Posted: Wed Jun 08, 2005 8:52 pm Post subject:

You're in their face! :lol:

you know the plan!

Stay in their face!

builderbob · Joined: 08 Jun 2005 Posts: 2 Location: California

thanks for you input - you're both pretty funny.

chow · Posted: Wed Jun 08, 2005 11:01 pm Post subject:

We have to be-We both Moderate, Manage, and keep the general public confused! :lol:

Don't tell Haplo this, but my personal goal is to keep him as confused as I can. He's an evile "Mortgage Banker!"

:wink:

mortdesign · Joined: 13 Jun 2005 Posts: 2 Location: Charlotte, NC

This is something that I did a few years back and it work pretty well.
Realtors will most likely use whoever their office uses. The trick is to introduce yourself before they hit the job market.

A few years back I offered FREE coffee to real estate agents the morning of their state license exam. Just starting out they look for as many contacts as possible. Granted they might not throw you the volume that a seasoned agent will, but it does come and its good word of mouth.

Seven Figures Proman · Joined: 27 Jun 2005 Posts: 33 Location: USA

I find that if I give a purchase preapproved client that I got from an Internet lead, most will then take an interest in you. If you give them another and do another good job,you will start to gain their following. Slowly they will start to work with you.

BECCA9892003 · Joined: 20 Jan 2005 Posts: 400 Location: Altoona, PA

We have made sure we are everywhere they are as much as possible..we have joined the PA association of realtors, i have asked them to join some of my other groups so they to can get more business, we have seminars constantly and always invite them personally and what we have been doing lately which seems to be working well is is particapate in their open houses by offering to bring some donuts or something small and ask if they need help hanging signs or balloons..who doesnt want help?...

chow · Posted: Wed Aug 03, 2005 3:01 pm Post subject:

I received two new commerical deals this morning for the work I put into the last two weeks of a couple of other deals. I didn't promise anything up front. When I had UW approval, I made calls, and set a closing date.

These "relitters" are loving it.

I told other brokers who had realtionships with the borrowers already what to line up as far as lines of credit, what we needed, and to originate the loans. By working as a team of brokers-the residential people, and my bank as the commercial team: ha! We made it a team effort:

Together, everyone achieved more! Work with the realtors on all sides of the transaction. Open a line of communication. Let them know where you are in the process, and tell them you will keep the commication open. They know we can't state any personal information, but they like to know you will contact them, introduce yourself, as the person on the back end making the whole puzzle, a picture for them.

lenderama · Joined: 08 Aug 2005 Posts: 22

The most important thing you can do is show up in person. Realtors usually blow of voice mails and letters. Show up in person

tlemm · Joined: 09 Aug 2005 Posts: 2 Location: San Diego, CA

Share marketing costs and be creative- my brother in-law is a realtor and he works with one mortgage broker. He did 63 million last year and his mortgage guy has 150k plus months. One thing they did that I thought was a great idea is they went to the higher end work out facilities and paid for all of the magazine subscriptions for that gym. Each magazine has a plastic cover and co-brands each of their companies with an advertisement and pictures of them. Think outside the box- loved the open house with dounuts and coffee idea

chow · Posted: Tue Aug 09, 2005 9:28 pm Post subject: Re: Come from family of Realtors

tlemm wrote: Share marketing costs and be creative- my brother in-law is a realtor and he works with one mortgage broker. He did 63 million last year and his mortgage guy has 150k plus months. One thing they did that I thought was a great idea is they went to the higher end work out facilities and paid for all of the magazine subscriptions for that gym. Each magazine has a plastic cover and co-brands each of their companies with an advertisement and pictures of them. Think outside the box- loved the open house with dounuts and coffee idea

According to RESPA, you both have to split the costs, and the ads must have the same size for each company. After you get through with the REPSA cops.

(those are the little green men and women who fine you to death, and RESPA doesn't stand for "Real Estate Settlement Procedures Act"

anymore-It really is "Revolving Estate Sellers of Property- with needs of Advertising)

maybe my evile twin should have typed this? :lol:

I've bought enough donuts to make a Wilson girl go to Weight Watchers. I've bought enough gas cards to fund a IRL car. The only thing that gets me in the door and keeps me there is: Good Honest Lending and communication. :wink:

BECCA9892003 · Joined: 20 Jan 2005 Posts: 400 Location: Altoona, PA

good work and honesty will always keep you busy but some things we have done is let the realtors post there listings on our web site..and we are having our credit specialist do a credit seminar for the realtors to get some of their continueing edcuation credits and we are hosting it..anything to keep our faces and names in front of them....

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