I am fairly new to the Mortgage industry and was looking for tips and tricks on how to prospect to real estate professional. Is there a good process? Any contact strategies that will work well?Thanks!
I love to network so I go to all chamber of commerce business mixers. My name gets out and the business people you meet will usually offer leads to you even though you just met them. Also I would pick a neighborhood or development that I want to prospect, set the street boundaries of where I want to concentrate the most and then call Title and tell them you want a list of names and addresses for prospecting. They will not only do this for you,but they can make labels and some will do postcards for you as well. Also everywhere you shop give them a business card and ask them if they know of anyone who could use your services.
Step #1 - Do an excellent job for every client you get. Their agent and the listing agent on the deal will both notice. Stop in to real estate offices and visit with whoever is around. Go to agent's open houses, go on agent tour after the MLS meetings if that's possible in your area. Ask if it's OK with the agent if you put them on an automated e-mail for rate notifications. Send out flyers detailing new loan programs and offer to meet with agents one-on-one to go over programs if they seem interested. Realize that some of them will know the programs better than you do, so make damn sure you know what you are talking about. Stay in constant contact with the agents on both sides of a transaction and let them know what is happening (appraisal is in, package is at the underwriter, etc.) Get out of the office and meet with agents in person. They want to know who they will be sending business to. Realize that it will take a couple of years to get established and well known enough to rely on real estate agent referrals only. Stay in touch, be consistent and informed and enthusiastic, and it will happen. Good luck!
For Credit and finance solutions I recommend this site where you can find all the solutions. FINANCEANDLOANS.INFO/?s... RE :Mortgage Broker Prospecting to Real Estate Agents? I am fairly new to the Mortgage industry and was looking for tips and tricks on how to prospect to real estate professional. Is there a good process? Any contact strategies that will work well? Thanks! Update: Thanks 'godged' 'dog ma'!! Can I choose TWO best answers? :) I gotta put it to a vote. Follow 8 answers
The unfortunate aspect for you is that many agents will have established relationships with strong, experienced mortgage brokers. You could offer to make payment/rate flyers for open houses, or offer to co-host open houses. Some mortgage brokers visit agents at open houses and chat with them for a few minutes if it is really slow. Put some information together about your services and ask to speak at the office sales meeting. Many offices allow a short presentation in their sales meeting, perhaps a power point, but make sure you have some takeaway info. Keep it brief, 5 - 10 minutes, try to touch on things that set you apart from the plethora of other lenders out there. Bringing something to eat won't hurt either.
