Loan Officers – Tired of asking real estate agents for referrals?

Does it seem like every mortgage loan officer in the business is constantly asking real estate agents for referrals.

(It must seem that way to real estate agents and other loan officers.)

Asking agents for referrals could be setting yourself up to fail.

Almost every loan officer tells agents the same story..

* “You should give me your referrals because:”
* “I have the best rates!”
* “I provide the best service!”
* “I have the most experience!”
* “I have the most experienced staff!”
* “Yada, Yada, Yada”

Sound familiar?

bhh2If that is how you are trying to get an agents business it might be more fun to beat you head against the wall.

Why is this not going to work? what is wrong with the above statements?

All of the reasons listed above list the features you provide to the borrower / buyer but they do nothing for the agent in a direct way. Because it does not answer the question that all clients want to have answered. What is in it for me?

Although you are talking to an agent to get the referral to the buyer do not kid yourself into thinking that your mortgage services are so important to the real estate agent that you do not have to demonstrate to the agent what is in it for them.

Here area few questions to think about.

1. Does the agent earn any additional income by referring their clients to you?
2. Does the agent take on any additional responsibility to the client by referring someone to you?
3. Can their client find financing without their referral?

It’s an open book quiz. The answers are No, Yes, and Yes.

Agents receive no additional income by referring a client to you and they do take on the added responsibility of being the person who recommended you to the client.

That is a good thing when everything goes smoothly – but how many transactions have to seen where everything goes smoothly.

Agents can opt to take the safest route by not referring someone and leave the task of finding financing up to the client. If the client wants the property It’s going to happen with or with out the referral.

The real estate agent is one of your most important client groups. They are the client you need in order to meet the borrower / buyer. In many ways the agent is more important.

Why? Because the agent – if you have a good referral relationship and you have demonstrated that you add value will be an ongoing source of referral business.

Borrower / clients can also be a referral source but let’s face it how many friends and family contact referrals can you generate in a 1 years period from a borrower/client? The answer.. not as many as you could get from a productive real estate agent that sees you as an added value partner.

Until you start providing added value to the agent’s business you will have an up hill battle getting their attention and their business.

Don’t fool your self into thinking that you are doing something special for an agent by providing quality origination services. That is your job that is what you are expected to do.

Think out side the box and find ways to directly help the agents that you want to work with. Figure out how to go the extra mile. figure out how to add value to your potential referral partner’s day and you can stop asking for their business.

Are you a loan officer trying to build referral relationships with local real estate agents?

Would you like to know about a better way?

Click Here for details!

Referral Marketing, Loan Officers, Mortgage Marketing, Loan Officer Branding

Beta Users Wanted – Special Rewards For Loan Officers.

We have been working long hours to put the finishing touches on ExpressRealtyFinder.com and we are almost ready to debut the service to the mortgage community. But before we roll out the program nationwide we want to start with a soft introduction by bringing on some Beta users to help us fine tune the site and the services we provide to loan originators and real estate agents.

Are you looking for ways to increase your origination business?

Are you interested in building stronger relationships with the real estate agents in your market?

If you answer is yes to both questions we have a special offer that will help you achieve both goals.

Click Here For Details

Marketing – What is your position?

Marketing – What is your position?

Branding / Positioning / Reach / Frequency

~Free Report~
Marketing your services, letting people know you are there to help and that you want their business is one of the essential pieces of the puzzle to creating a successful real estate or origination business.

You can be the most knowledgeable, the hardest working, person on the planet but if no one knows who you are and how to reach you I’m afraid that you will be spending a lot of time playing solitaire on your computer.

Click Here to download the complete report.

marketing-what-is-your-position-2009.pdf

Tips for mortgage bloggers – part 2 – 8 Steps to writing longer blog articles

8 Steps to writing longer blog articles – tips for mortgage bloggers – part 2.
For part 1 of this article outlines the 8 steps - Click Here

mortgage bloggingBlogging for mortgage loan officers.
In our industry there are usually no short answers and there are times when you need more than a paragraph or two to cover the topic effectively. Longer articles are approached a little differently than short blog posts. The longer blog is a more detailed look at a situation or it is an educational article that requires more than a couple of paragraphs to successfully tell the whole story.

The longer blog article is not harder; it just requires a little more thought regarding content.

Let’s take the 8 steps and break them down.

1. Theme / Title.
Start with a title or theme. Write out your blog theme in one or two sentences. This is your topic focus. In this article the title is: “8 Steps to writing longer blog articles”. As you gather more information and start to write more details your title will be your compass that keeps you on track. As your content increases you should keep referring back to your title to make sure you have not strayed too far off track. If you do, you could have the beginnings of another post. So, if the points you make are not on target but you think they are important, copy the information onto a new document for later review. Your theme should be concise and to the point. What is the main idea of the article?

2. Brainstorm.
This is a simple, but very effective process. Start with a blank sheet of paper or a fresh document opened on your word processor and write down every idea you have about the article. One of the secrets to successful brainstorming is that there are no bad ideas at the beginning of the process. Write down every one without trying to prejudge its merit. After you complete this step, go through each idea with a critical review to determine which ideas you will use. Usually you will need to do some editing and rewriting. Some will need to be combined to make a stronger point. Others will need to be discarded. You only review the ideas with a critical eye after you have finished brainstorming ideas for your article.

3. Outline.
Using the main title theme and your brainstorming ideas, start writing an outline of your article. Write down the main points that you want to make. When I was writing this article I did not start with 8 as the number of steps. I started by writing out the steps and when I was satisfied, I discovered that it was 8 steps. My original theme was “Steps to writing longer blog articles”. Then 7 steps… After my outline was completed and I was part of the way through the details step, it was obvious to me that my title (and the number of steps) should be 8, not 7. Every blog title or article does not have to have a determined number of steps that are detailed. This really depends on the subject of your blog article. Other possible titles that I could have used are: Elements to successful mortgage blogging, Bloggers learn how to write the long blog, or Tips for better blogs.

4. Tags, Categories & Images.
When your outline is finished you should now think about tags and categories. These should be written out in a list and used throughout your article. The tags I decided fit this article are: mortgage blogging, writing blogs, long blog articles, bloggers, mortgage, and blog tips. How did I do? Did I use each tag at least 1 time in my article (not counting this sentence)? I decided what my tags and categories would be before I started writing the details. This helped me stay on track and incorporate the tag words into my article instead of just jamming them in to places where they do not fit easily.

5. Forms.
Next, decide if there are any forms or references you should use. Make a list to use as a checklist as you complete your article. You can link to your forms in your post or you can talk about them and link to a forms page that has the forms you use. Either way is correct. For this post I created a simple form that you can use when you are working on a post.

6. Break it up.
Decide how to break up the information into 2 – 4 blog posts. This article for bloggers is going to be a 3 part blog article. There is no wrong answer. I was not sure about how many parts to break the article into until I completed a majority of my outline.

7. Details.
With your outline, tags, categories, and forms you can flesh out the article, writing in detail to explain each of the main points. Working from a blank page is a lot tougher than working from a well planned outline with notes and comments. You might not use everything you initially wrote and you probably will rearrange the order as you go. The final blog post will not look the same as your outline. That is part of the process. If you follow the brainstorming and outline phases you will have a better article. (As I was writing this section I determined that I had left out an important part of the process “Brainstorming.” This is where I decided to add an additional step to the article. I just went from 7 to 8.

8. Recap.
To finish, summarize your article by reviewing the key points and link to your forms or references. This post is a 3-part post. In the first part I outlined for you the process that I would discuss. The second part is the details. I broke each step down and provided a more detailed explanation. The third part is used in this article to recap the main points of the article. If I am doing my job correctly, I am telling you a lot of the things I told you in the initial summary, but I am saying them in a different way. After reading the first two parts of the article you now have a better perspective and the summary should help tie it all together.

In part 3 I will wrap up and summarize this series on writing longer multi-part blog posts and include a useful outline form that will help you write longer blog articles .

If you find this information helpful please let me know. I always welcome suggestions, comments and new subscribers.
(To subscribe use the subscription button in the upper right of the home page.)

The Full Service Loan Officer (www.tfslo.com) is dedicated to helping loan officers build referral relationships by establishing a branded position in their market as a trusted mortgage professional.

Welcome To The Full Service Loan Officer!

Welcome!

Welcome to our website!

We have been busy developing several tools that will help you build your mortgage origination business. We have been working behind the scenes for over a year to provide loan officers with a system that will help them build a unique brand in their market place and establish relationships with real estate agents.

We will be announcing a (FREE) beta program for subscribers very soon. If you are interested in participating in the program simply drop us an email using the form on our contact page.