Gone are the days of buying lunches and handing out rate sheets.
Today’s real estate agents and their clients are a lot savvier. Today’s homebuyers are not just going to settle for a good rate. They want more. In fact, they EXPECT to get a good rate. But they also expect to find a broker who has the ability to get a deal done and is responsive to their needs.
Realtors want to work with someone who can help their business. Someone who is going to show their homebuyers that they partner with mortgage brokers whose primary focus is about the entire consumer experience, and not just getting a good rate.
Forming strong business relationships takes time and effort on your part, but these relationships can make a world of difference in your performance and success. Here are a few tips to help you build a foundation and improve your interactions with real estate agents, as well as help you stand out from the competition.
Don’t Settle For Canned Messaging to Attract Agencies
Mortgage brokers need to appreciate that they are not the only firms who are marketing to realtors. It’s a noisy marketing world out there, so it is vital that mortgage brokers differentiate themselves with personalization.
- Use technology thoughtfully through push notifications, text messages, or even naturally with an automated phone call with a personalized message.
- The closing is the best and happiest moment in the home purchasing process. Be there to earn some goodwill and show your realtors that you are a partner for the long term.
Remember – Brokers and Real Estate Agents Are on the Same Team
Real estate agents ultimately want to make their clients happy, and they will gladly push business your way if they know that you are there to help them do that.
Transparency and Accountability Go A Long Way
Any chance to reduce uncertainty is beneficial to the agents you work with. By being accountable and dependable a loan officer can work better with real estate agents.
From your first interaction with a real estate agent, be clear about what you can or cannot accomplish. Set realistic expectations for everyone you are working with. You may work hard to get a certain result, but be unsuccessful. Whatever the outcome, remain clear with the real estate agent about what is going on and what you have control over. Any agent worth doing business with will appreciate your honesty and accountability and will want to work with you in the future because of these qualities.
Don’t Make Promises You Can’t Keep
Above all else, do not provide real estate agents unrealistic expectations of your ability to get a loan approved. If it is going to be a very challenging loan, make this clear up front. The last thing any real estate agent wants is a pre-approval letter from you that means nothing. You will quickly be eliminated from a real estate agent’s referral source if you don’t live up to the expectations you have set.
Use Social Media To Help One Another
Social media is a great place to grow and nurture relationships with others in your field. After all. That is exactly what social media marketing is all about. It is about being social and sharing information with one another. One of the best things both real estate agents and loan officers can do to communicate more effectively and grow their brands is to have a presence on social media. Today hundreds of thousands of people are using social media to stay in contact with others in their industry.
Real estate agents and loan officers who engage with each other on social media create opportunities for both parties to be more successful, for example, by mutually sharing content that is beneficial to one another.
At Fairway, customer service is a way of life. Not only are we dedicated to finding the best rates for our customers, but we also offer some of the fastest turn times in the industry. Our goal is to act as a trusted advisor, providing highly personalized service and guiding homebuyers through every step of the loan process. It’s all designed to exceed expectations, guarantee satisfaction, and earn trust.
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