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Mortgage Marketing: Forming Realtor Referral Alliances

Aug 18, 2007
When it comes to selling mortgages, you already know that those inbound mortgage calls are way better than the outbound ones, right? You also know that it is hard to get your business to a place where those inbound calls are outnumbering your outbound calls. The key is to find a way to make that happen so that you are handling calls instead of making them.

The best way to get more calls coming in about mortgages is to get more referrals from real estate agents or real estate mortgage referrals. How, though, are you supposed to get real estate agents, who are always being hounded by mortgage people, to send their clients to you instead of someone else? The answer is to use a variety of techniques to get the right realtors working for you. Consider some of the methods here and you will see your referrals go up quickly over the next few months.

Finding the Right Agents

Before you can get agents working with you, you have to find the right agents, right? There are a couple of ways to do that, so consider which ones may work best for you. If you are really ambitious, try using all the methods. Remember, inbound is better than outbound any day.

1) You can work your way to the agents through a good escrow officer. The process is really pretty simple. First, find five big title companies around your area. Use the number one escrow officer at each individual company to perform a transaction and make sure you give out the best possible service to your client. Then, have the officer fill out a customer satisfaction survey at the closing to show off what a great job you do for clients. From there, send a gift to the officer and a week or so later go in and ask for referrals. It is some work, but you will find that you can get some good realtor referrals from some top performers this way.

2) Another way to get the right agents is to research. If you talk to your title officer, he or she should be able to tell you who the top real estate agents are in your area. Once you know who the top performers are, then you can target them and woo them for their referral business. If you are going to get referrals you may as well make sure you are getting them from the best, right?

Asking Realtors for Referrals

Once you know who the agents you want to work with are, you have to find a way to get them to talk to you. They need a reason to send their customers to you. So here are ways that may help you get your foot in the door with customers.

The Approach Letter: The approach letter is one of the best ways to make initial contact with a real estate agent. The key, though, is to say the right things and make sure it gets read.

First of all, make sure you are sending out a lot of letters. In fact, it is a good idea to make it part of your routine. Send out one or two letters every day that there is mail service. You can help yourself to stay organized by using computer software.

Next, make sure you send the letter in a manner so that it will get noticed. Making sure the letter gets read is important. You can send it in an overnight package, in an unusual pack, but don't send gifts as you would come off as desperate since you don't even know the person. No matter what, though, find a way to get eyeballs on what you have to say.

In your letter, be sure to say something useful and to the point. Make sure that you offer some sort of selling proposition, tell about yourself so they know who they are working with, and give them a heads up that you will be calling in a day or two to schedule a face to face meeting to further describe the selling proposition.

Using a Program

There are never enough ways out there for you to get in partnership with real estate agents. After all, they are the ones that are in front of the clients out there. So if you do not know about letters and phone calls, consider some other methods out there. Find a golden mortgage marketing strategy that produces results.

If you do some research, you will find that there are programs out there that can help you partner up. In fact, there are some that can help you get real estate agents calling you instead of vice versa. Just like with mortgage customers, inbound calls are always better than outbound calls.
About the Author
Shane Brooks is a hard nosed business man that doesn't take kindly to competition. His hard hitting no nonsense mortgage marketing techniques constantly makes waves for his competitors regardless of the market he is focusing on. Shane doesn't mind stepping on the toes of his competitors or ruffling a a few feathers of the so-called gurus in order to level the playing field.
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