One of the most powerful relationships you can build as a loan officer is a mutually beneficial partnership with a realtor. Maybe you already have a realtor BFF and understand how powerful the alliance can be. Maybe you’re looking to form that strong friendship-business bond but have trouble finding your BFF. The old method of buying a realtor lunch isn’t cutting it anymore. I have tips to help you be more authentic and change up your approach.
Get ready to meet your matchmaker. Here are some tips to find your realtor BFF and start making mutual mortgage magic:
What Can You Offer?
You have to be willing to give a deal to get a deal. Hitting up a realtor at a networking event, trying to shake them down for clients is backwards. Ask not what a realtor can do for you. Ask what you can do for your realtor. What can you offer?
This isn’t some random realtor. This is someone that you admire professionally — they’re great at what they do, they take care of clients, and you want to partner with them because of it. You want to refer them clients based on their reputation and skills alone.
But, if you bring clients to the realtor, instead of the other way around, you might find yourself at Chapter One of a beautiful new friendship story.
When over 80,000 agents were surveyed, they revealed the top two things they care about are responsiveness and the ability to get the job done. Only 1% cared about getting the lowest rates.
Get it Done
It may surprise you to learn realtors care more about your ability to get the job done than you offering the lowest rates. When over 80,000 agents were surveyed, they revealed the top two things they care about are responsiveness and the ability to get the job done. Only 1% cared about getting the lowest rates. So respond to those emails and texts, follow through and take a note from Nike and just do it.
Realtors have a lot of options. Why should they go with you? What makes you unique? You’re YOU. Don’t be afraid to personalize your messaging and be yourself. Authenticity is your power. You can bring warmth and substance to a cold, boring business transaction. If you want to build a real relationship, you have to be willing to get real.
Build a real relationship by showing up when it matters the most.
Get Close at Closing
Ok, don’t actually get close. Personal space is good. But if you want to get close to a realtor, show up for the closing. The closing is an emotional, climactic moment. When you show up, you’re celebrating the peak of the process and making an impression. Build a real relationship by showing up when it matters the most.
Don’t wait for them to call you or fill up your email inbox. Keep them informed.
Consistency is Key
Friendships don’t happen overnight. It takes time to build rapport, cultivate a relationship, and establish trust. You need to be consistent. Show up and be proactive. When you’re working with an agent, take the time to reach out and inform them when each step of the process is complete. Don’t wait for them to call you or fill up your email inbox. Keep them informed. They’ll learn with time you are reliable and consistent.
Communicating honestly shows the agent you’re not just in this for the money; it shows you care.
Honesty is the Best Policy
You can’t originate every loan so don’t over promise and under deliver. Don’t promise you can get a job done until you’re sure you can. Do your due diligence before you make a promise you can’t keep. If you run into problems, don’t ghost your agent or make excuses. Be up front with what you’re dealing with. Take accountability. Communicating honestly shows the agent you’re not just in this for the money; it shows you care.
Give a Social Boost
Social media is a great way to connect with your audience and stay relevant in the industry. But it’s also a great way to build friendships and strengthen bonds. You can give your realtor connections through simple interactions such as a like, a share, or a tag. Can you do more than a shoutout? Maybe you can work together to do a Live for new homebuyers or collaborate on content. Find new ways to support you, your agent, and your audience.
Get to Know Them
People can sense when you’re just in it for you. Good relationships aren’t selfish. Find a realtor who you vibe with and take a genuine interest in getting to know them. Maybe you like the way they run their social pages. Maybe you met them at a networking event and run in the same circles. Reach out and see what you can do to build the foundation of a healthy personal and professional partnership.
Be on Time
When you’ve planned a lunch date, be on time. When you’ve scheduled a call, don’t miss it. Show respect for their time. And when it comes to closings, on-time closings are as good as gold. Closing on time shows you are reliable, competent, organized, and able to make it happen.
Relationships have always driven the real estate industry. If you’re a loan officer, having a realtor BFF is an invaluable source of referrals and new business. Establishing a working partnership is an opportunity to expand your reach, generate income, and build a lasting friendship. I hope these tips help you find your BFF.
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