When it comes to marketing to Realtors, there is no shortage of objections and challenges that you’re going to need to overcome. Recently we scheduled another round of Loan Officer Unleashed, and we’ve had one heck of a response! Despite the 300 loan officer limit I placed on the call, we’ve already packed in 310 registrations!
This is definitely no ordinary “webinar” as participation is the order of the day here, as we want to see results right? So here’s your chance to help get your most pressing challenges addressed during the Loan Officer Unleashed workshop. Simply comment below, and we’ll be watching. Here’s what I want to know:
#1 – What’s the most common objection you hear more than any other from Realtors? (Or the most challenging)
#2 – Until now, what has been the single biggest hurdle for you in marketing to Realtors?
Let’s have it! Comment below, and we’ll be paying attention. The more we see an issue or objection posted below, the more likely we are to address it during teh webinar.
If you have not yet reserved your spot, please do so now: (We’re closing the doors on Friday to new registrations)
It’s almost gotten laughable. My borrowers are always happy with the service I provide for them so I am good at what I do. However, when I’m matched with a selling agent I haven’t worked with before at the end of the transaction (after keeping them in the loop for 30 days) I always ask for the opportunity to talk about more business. I’m surprised how so many realtors just absolutely ignore that email. all the emails tied to them getting a paycheck, they see. But this one, they don’t! Funny. I’ve actually called a few realtors on it and laughed about it.
Most common objection: Already working with someone. Also, might give you a try then they dump the impossible deal on you and when you can’t get it done, they don’t try again.
Most difficult for me is consistent follow up. Also I beleive that most emails sent have gone unopened.
My biggest hurddle is just getting a meeting. I have great information to share but getting an initial meeting seems to be the hardest.
When I have made calls in the past, I am sure that I sounded exactly like many other LOs. I had PLENTY of Real Estate Agents meet with me, but in the end it was really just for the free lunch or coffee. Or what I ended up receiving was the Clients that their Mortgage Guy could not close because the customers were not financeable. So, when I had to also decline them, that did not go over well.
I have reached out to agents asking permission to send them information (i.e. rate reduction strategy, listing website generator) … they typically thank me for the contact … I ask that they watch a brief video … then tell them I will follow up within a day or so – or they can feel free to call me.
When I do follow up most often i leave a voice mail… with no response, I call again, leave a message … with no response.
How best to overcome this “non-responsiveness?”
The realtors want cash in return for deals, no matter how many services you provide for them
I really don’t know what to say to realtors since I’m pretty new. I feel like I’m just like everyone else so I really don’t have anything unique to talk about. I could really use some help with this.
The majority of realtors i USED to call on would take my cards, meet with me, etc but they were required by their brokers to give their clients up to 4 other MLO’s as referrals. I’m a small company and I’ve got to go up against BAC, Wells, etc….
I feel like Cynthia S. Not sure how to approach them and also if I do get to talk to one they may ask a question I can’t answer and then I feel stupid for not knowing the answer. I am fairly new with purchases and working with Realtors. I have done more refi’s and 2nds in the past. I feel totally comfortable working with the consumer but Realtors scare me. When I approach them for the 1st time I want to have confidence in myself and I want to different and to be able to offer something better than the LO they are currently working with. Any help with that would be great.
It’s the in house lenders I worry about. That and not really having anything to offer other than good service. It seems like the banks around here have a more favorable impression around here than us little guys. What can I offer? That’s what I need an answer to.
T.M.
1. Unrealistic expectations regarding time frames ie. contract signed to closing date, time required to g
et file thru underwriting ect.
2. No loyalty.
3.Not interested in meeting unless for a meal or some other goodie. little interest in message.
My company provides a lots of services for realtors, I have emailed the services to brokers in the form of a broker package and I handed it out at open houses. I also inform them of the services I provide in addtion to the services that my company provides, which includes conducting first-time homebuyer seminars and assisting them at open houses. The rejections I have gotten are either they are working with someone for a very long time or I get no follow response to any of the services we provide. One of the many things that I have learned from attending your seminar, is that I should contact the broker before sending them the emails, In the past I didn’t do that, so it probably went into spam. A week before attending your webinar, I attended a live seminar with Constant Contact and the instructor said the same thing, that I should inform the client before sending the emails out, so you re-iterated the same point that Constant Contact made. Thank you for all the valuable information you have provided at the seminars.
I can’t get call backs. It seems like no one around here cares that I can help them. I’d really like to know how to get around this. That, and I always hear “I already have a loan officer.” I’d like a solution to that too. Thanks
My problem is I don’t know what to say. When I call I get pushed off the phone too fast to really say much anyway.
How to set myself apart with out volunteering to try to revive a dead dog.
Dialogue to set the appointment and get the first deal.
The biggest hurdle I find in marketing to Realtors is the lack of relationship. They don’t know me, they don’t have a relationship with me, they are established and have established financing relationships, ie, in house lender, relative,etc.
- Parnell Jackson -
Chicago Home Loan
Actually getting them to open an email. I use Constant Contact to email them once a week, and I send out a video update another part of the week. The open rate for both has been and is terrible.
The scripts to get realtors to “opt in” is great. My issue is that I’m trying to find a mail system that works great. I’m trying out Mailchimp with some consumer marketing and it’s working well.
Darrell Walters, Integrity Mortgage Funding – Newnan mortgages
Hi Chad,
My biggest hurdle is Realtors I
contact think they know everything
about mortgages.
Mark Turcich
chicagoland- mortgage-banker