Mortgage marketing to realtors can be an easy and enjoyable process. Having a steady flow of referrals from real estate agents is a great way to insure the continued growth of your business.
But how do you develop a network of quality, low maintenance realtor referral partners? Good question. Below you will find the answer.
Are you ready to get started? Here are step by step easy to follow instructions given in an outline format to help you develop 10 realtor referral relationships in the next 30 days.
I. Finding Real Estate Agents
Option 1: Escrow Officers
1) Select 5 huge title companies in different parts of town.
2) Use the top escrow officer at these companies for a transaction.
3) Wow your client and have the escrow officer complete your customer satisfaction survey at close so the title officer can see what a great job you do for your clients.
You can download a sample customer satisfaction survey by visiting:
4) Immediately after the transaction funds, send the title officers at all 5 offices a gift and tell them how much you appreciated their top notch service during the transaction.
5) Exactly one week after the title officers receive your thank you gift, go see each of them face to face and ask them for referrals to top realtors. Ask for referrals to real estate agents that are easy to work with and do at least 2 transactions a month (or however many transactions you would like).
Option 2: Top Producer List
Ask your title officer for a list of the top producing real estate agents in your area. This list will enable you to target real estate agents who are actually doing business.
II. Approaching Real Estate Agents
Option 1: Approach Letter
1) Send a letter to one or two real estate agents per day. Be sure to stay organized. Use software or some other method to keep track of who needs a follow up call each day.
2) Send your letter in an unusual way so it gets noticed – like a Fed Ex overnight package for example. Everyone opens overnight packages with great anticipation.
Here is the delivery method I used. I learned it from Todd Duncan and it worked well:
Wrap your approach letter around a Pay Day candy bar, use a gold ribbon to keep the letter attached to the candy bar, then send your letter / candy bar to realtors in a tube.
This letter delivery technique is sure to get noticed.
For a sample approach letter to use when mortgage marketing to realtors visit:
Here are some important elements to include in your approach letter:
* Offer a unique selling proposition (USP) that can help their business
* Tell them a little about yourself.
* Also, tell them you will be calling in 2 days to schedule a face to face meeting. At the meeting you will explain your USP and how it can improve their business.
Option 2: Office Managers and Realtor Associations
1) Contact real estate offices and ask to speak with the manager. Explain to the manager that you are a top producing Mortgage Planner. You are currently offering complementary seminars to a limited number of real estate offices.
Here are a few seminar ideas:
* How realtors can use 1% mortgage loans to increase their business
* How to get more leads from your real estate website
* Anything you can think of that would benefit the realtors at the office.
2) Offer to give the short talk during their next sales meeting.
3) Offer to bring lunch.
4) During your talk offer the realtors a valuable tool, gift or information that can only be obtained by giving you their business card. When you send the gift include an approach letter explaining you will be contacting them for a face to face meeting to discuss a USP that can increase their business.
You can also use this technique with local realtor associations. Offer to give your talk to the entire association. Just be sure the topic and information you discuss is truly useful.
Give these ideas a try. They really work! You’ll be amazed at how fast your mortgage referral business will grow.
By the way, if you are the shy type and do not want to conduct seminars or face to face realtor meetings, you can always hire someone or bring on a partner to do this stuff for you.
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