how do i market to realtors/ realestate agents if im just starting out as a loan officer tips please anybody?
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This entry was posted on Tuesday, March 2nd, 2010 at 8:30 am and is filed under Loan Insurance Tips. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
March 2nd, 2010 at 8:32 am
Realtors who have been in the business more than 3 years already have loan officers they have dealt with and will continue to do so, because of the service they have provided in the past.
Lock it down to one state, or a region within the state. Most of us read the local newspapers, but you may want to try marketing directly to potential clients.
March 2nd, 2010 at 9:15 am
Put an ad out in your loco paper that you will be taking new people on loans . So and also make friends with the realestate agents too so they will get people in faster and they will call you to fax the info to start a loan for them.
March 2nd, 2010 at 9:56 am
Im helping a friend with this exact question. Both answers may work. But I agree that you need to go directly to the market. FSBO (for sale by owners) might give you better direction.
Im having my friend go directly to the real estate agents. And asking for the hardest loans that they couldnt get through. Clearly she doenst have the knowledge to do them but Im doing them for her. Im not sure if you have a mentor or not. But if you are green to the business I wouldnt start with real estate agents.
If you do, call and get a list of those real estate agents in your state that passed their test in the last 6 months. Work with them. If you screw up they prolly wont know. As M said 3 years plus they will eat you alive. Remember it might mean 1500 to you but it could be 15,000 to them. You dont have the option of being wrong.
March 2nd, 2010 at 10:20 am
Realtors have a weekly staff meeting probably once a week in the offices, call the office and see if you can attend one of the meeting, take a treat, donuts perhaps. Realtors are always looking for sharp and accommodating new loan officers sometime we need a fresh new outlook or a loan officer that will worker harder to get your loans thru, and what would we do without you! Don’t forget the Chamber of Commerce meetings, Realtors are there like ants in the sugar jar……
March 2nd, 2010 at 11:16 am
Go visit Real Estate offices in your area and introduce yourself to them. Make sure you bring lots of cards! They would love to talk to you about how they are doing in the business, so just give them a listening ear and they will definitely appreciate you and remember you for the next time they need a lender.
Another good idea is to place an ad in the local newspaper saying you have started at your new job, etc. Indicate your background and what you intend to specialize in and how you can be contacted.
Also, if you don’t have to time to go around to all of the offices.. print up some impressive looking flyers saying all about what you do and what you have done in the past (your experience, etc). Then mail them to all the companies in the area.
March 2nd, 2010 at 11:18 am
Getting business from a Realtor is a trust building thing and takes a long time for the most part, most realtors have their people set unless they are new to the business and those that are new usually have no deals to give out. Be prepared to spend months of cold calls to the same group of people with the hope of a shot. It’s a hard road to drive on these days ! E-mail me if you have any questions.
March 2nd, 2010 at 12:04 pm
You may want to try a blanket approach by contacting as many realtors as you can to see if perhaps some of them are looking for a loan officer to pair up with. You could try an email marketing campaign to reach them.
April 9th, 2010 at 2:32 am
Good job, keep up the posting.