In the wake of CFPB regulation crackdowns, many Realtors are scrambling to find new co-marketing partners. Loan Officers have a tremendous opportunity to capture more purchase business and that all starts with an adjusted business plan.
In our bi-weekly Loan Officer Mastermind session we cover 7 steps to creating a business plan that will generate more Purchase Business.
2. What Do You Want From Your
Business in 2016?
If you don’t know EXACTLY,
there is a 100%
chance you WILL NOT get it.
3. Take Inventory On Your Business
And Weekly Action Items
Where is my business now?
Where do I want my business to be?
Closed volume.
How many existing Realtor Partners?
Closed units per “A” player Realtor.
4. Success Metrics
Loan Officers that have 2 to 3 NEW meetings
per week with Realtors do 4X the volume
on average.
5. Success Metrics
10 Face to Face meetings = 1 New “A” player
Realtor Partner.
“A” Player Realtors will generate 8-12 Closed
Transactions Annually.
6. Lets Do The Math:
2.5 Meetings per week = 10 Meetings Per Month
generating 1 new Realtor Partner.
1 New Realtor Partner = 8 new Closed Loans Annualized
7. The Opportunity
Realtors Are Scrambling to Find New Partners
Replacing lost co-marketing budgets.
More concerned about compliance than ever.
8. Step 1
Establish The Metrics
Spend two hours writing down exactly where
your business is and where you want it to be.
Write down the total number of closings you
would need to add to accomplish your goal.
Divide that number by 8.
This will give you the total number of Realtor
Partnerships you need to add.
9. Step 2
Get Your “VIP” Packet Ready
A short cover letter.
Examples of “value add” items you or your
company bring to the table.
Why should an agent choose you?
10. Step 3
Get Your Dialogues Ready
Create a 30 second “pitch” of why a Realtor
should work with you.
Remember rule #1 - What’s in it for them?
Solve Pain Points (Time, Profitability, Chaos)
11. Step 4
Time Block Your Appointment Scheduling
It needs to be in your calendar daily.
Text, Email, “LinkedIn mail” then…phone
call.
Sell aspirin not vitamins.
12. Step 5
Build Awareness through Appointment Scheduling
How Do I Schedule More Appointments?
Build awareness on social media.
Grow your email list of Realtors.
Strengthen your existing partnerships to
build word of mouth between Realtors.
13. Step 6
More Face Time
They need to see your face every 7 days for 3
months.
You do NOT need a scheduled meeting.
A cup of Coffee – Marketing Pieces etc.
Remember rule #1 – Its always about them.
14. Step 7
Ask For Feedback
Reinforce why you are working with them.
Ask for the deals!
Course correct based on what is not working.
15. Avoid Realtors That Are “Toxic”
Know What Type of Realtors Bring Results.
Pursue Certain Realtors and Avoid Others.
16. Build Realtor Relationships
Long Term Success Depends on Strong
Relationships
Strong Relationships Are Two Way Streets
When both parties give and get, both parties
win.
17. Build Relationships
Nurture Your Relationships
Become an Indispensible Partner
Help develop print assets.
Participate in digital advertising.
Make their open houses more successful.
Help them make an impact in their
community – think outside the box.
19. Tools Realtors Love
Automate all lead sources into ONE place.
Open House App
Single Property sites.
Deploy “compliant” Co-Marketing through print,
social and search.