Agents are often times confused about the many options they have when it comes to growing their new business. Should you partner up with a mortgage loan office, and how can they help you get more leads? Is cold calling still a viable option? What’s the best way to contact someone and ask for information from them? In this episode, Robert Wilson Ring shares how you can grow a new business and talks about what a mortgage loan office can do for you.
An add won’t hold much power in the future unless it’s strategically done. -Greg McDaniel
Three Things We Learned
What you should expect from a mortgage loan officer
As a real estate agent, you need to find a mortgage loan officer that does more than just help your buyers find a mortgage so you can close the sale. This could translate to helping you with your advertising efforts or working your sphere. But you also have to keep in mind that a mortgage loan officer earns only one-third from the commission you make, so it’s not realistic to ask from them for 50% of the advertising expenses.
Cold calling is no longer as effective as it used to be
Both buyers and sellers are flooded by sales calls. As a consequence, they grow immune to it. New cold calling involves going through a list of people you already know and are in contact with.
The best way to attract someone's attention is to show them how you can bring value
If you call someone and lay the process out on how you can help them convert more or what your lead generation system is, you will receive some call backs. But if you don’t go in-depth with how you can help, you won’t be able to stand out.
Both for real estate agents and for mortgage loan officers, there is a shift towards the direction of branding, building relationships, and trust. Because both buyers and sellers are bombarded with calls and emails, the marketing message gets diluted. As a result, the best way to grow your business and get a competitive advantage is to nurture the people who already trust you and keep in touch with them on a personal level. This can be done via send-out cards with their photo and a personal message or email.
Robert Wilson Ring is a branch manager and a mortgage advisor at People Home Equity, Inc.
He is also the founder of Robert Ring Team and part of a humanitarian program that helps orphans in Africa. His specialty is helping first home buyers and sellers get the best interest rates and mortgage packages.