Advice for a loan originator

**Metacognition** · 09-20-2007, 12:31 AM

I am a mortgage originator and would like some help. I am trying to build referral partnerships with realtors. Basically I want some feedback as to how to approach realtors and create a partnership. Here are some questions I had for you guys.

Is it better to call agents first for an appointment or just walk into offices and introduce myself?

If you are working with a loan officer already is there anything i could do to earn your trust and business?

What should I do and should not do when approaching realtors for business?

Basically I'm trying to understand what's important to you guys and what is the best way to build a partnership?

Any advice would be much appreciated

Thanks

**IggysListing** · 09-20-2007, 09:40 AM

First and most important,
say what you mean and mean what you say.
Maintain credibility.
Agents do not like to stay in the office and are often difficult
to catch. You must have a product that will help them.
Call and try to meet with the broker in charge and be prepared.
Many agencies have regular meetings. If you can schedule a
presentation for one of those meetings, you have the best shot
at getting a captive audience.

**gjtrafl** · 09-21-2007, 08:20 AM

I would focus on the new agents. They may not generate much in the beginning but most will not have relationships already built with others. If you teach them your side of the buisiness, they will remember you.

**Honeycomb Properties** · 09-25-2007, 05:57 AM

Both answers already given are very true, here's my 2 cents:

Credibility is king- don't bs the Realtors, most of them are already experts in bs and will smell yours a mile away
Know your stuff- make sure you can fit the loan product to the customer
Be competitive- Mortgage brokers are like Realtors- a dime a dozen
Set proper expectations- saying you can get a loan approval in 24hours every time sounds great until you don't preform

You want my business then give me quick approvals with competitive rates and make sure to respond in a timely fashion when I try and contact you.

**IggysListing** · 09-25-2007, 07:01 AM

The business is known for lots of BS.
Stand out from the morons and give people what they and you want,
i.e., the Golden Rule.

**YourOrlando.com** · 09-25-2007, 07:47 PM

Some great advice so far. I'll add a little. Don't spam thier email, we hate that. Mail and handouts distributed monthly work. The agents will eventually have a bad experience with thier current lender, and if they have just received your mail or flyer, they just might give you a call.

I would also try some networking functions. Oh...and once you have a deal... CLOSE IT ON TIME. There is nothing worst than being forced to field calls from angry buyers and listing brokers, because my referral dropped the ball. Not to mention the additional paperwork for me, i.e. Extensions and Cancelations.

I hope this helps and best of luck. Remember, the longer you last the easier things will become.

All the best,