To succeed in the mortgage industry, get used to meeting people. Referrals from people who know you and business from Realtors will make up at least half closed loans. And no matter how good you are, if people don't have some reason to trust you, they're not going to call.
"Real estate is a contact sport," said Realtor Barbara Anderson.
She and her husband Ron are the owners and instructors of Success Real Estate Academy in Prescott, Arizona. According to Barbara Anderson there are some specific steps you can take that will keep you on their radar and building revenue:
Be really, really good at what you do. According to Anderson, this means communication, competitive rates and consistent excellence. While Anderson and her colleagues can't by law refer their customers to you, they do provide them with a list of three mortgage professionals. You have to be a star to get on that list. Nothing else will work. "I tell my students that they need to get out and interview them," she said of choosing which mortgage professionals they'll work with.
Offer classes. Anderson says that she often has mortgage professionals speak at her school. Many of them will end up on the lists of the fledgling Realtors. Focus on subjects that enhance their professional lives. Topics that tap your expertise to show them how to save money, make more money or attract more clients are all winners.
Join a Realtor's association in your area. Like marketing frequency, the more times Realtors and escrow professionals see you, the more likely it is that you'll come to mind when their list comes up for review. If you can, go the extra mile and offer to host a meeting. According to Anderson, mortgage professionals prove that they're helpful, congenial and accountable by the way they show up amongst their peers. "It's just being there for them," she said.
Grow your supply of testimonials. Another way to tap the power of who you know is to collect testimonials from your clients. Most people will lend far more credence to another person's description of their experience with you than with your own assertions of excellence. Put the testimonials on your website, your brochures, your mailings and even on your business cards. A time-saving way to collect testimonials from all of your clients is to program an email request into your customer relationship management (CRM) software. That way, testimonial gathering, like all of the other tasks automatically managed and executed with your CRM, is a zero-work, high-yield proposition. If you're still shopping for CRM, consider one geared specifically for mortgage professionals.
Taking advantage of service opportunities and association memberships has skyrocketed the revenue and credibility of more than a few mortgage professionals. According to Ron Anderson, it's the most important thing they can do after establishing professional excellence.
"Their reputation makes a big difference, just like Realtors and doctors," he said.
