How Loan Officers Can Make Good Relationships with Real Estate Agents
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How Loan Officers Can Make Good Relationships with Real Estate Agents
As a loan officer you would always have noticed that real estate agents mostly dislike loan officers. They either try to avoid you or hang you up with lame deals and only talks. Have you every thought of the reason behind such an attitude that has increased the level of dislike and frustration in real estate agents against loan officers to the borderline of hatred? Many a time real estate agents makes promises to give you business only to put you off for a while but never return with a single useful deal.
The competition in loan officers is rising day by day. In such a situation where earning bread and butter gets difficult, you must take strong steps into solving this big hurdle in your way of getting good relationships with new realtors.
Every month there must be hundreds of deals being closed in your city. Some loan officer is probably handling them, so why not you? When a realtor asks you about your previous experience and the current amount of deals you are closing, give them solid answers and not your personal thoughts.
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If you are dealing with only one realtor then tell them so. Don’t say that you are working with one agent because you hate working with agents. Before any significant increase can be enjoyed in your business, the excuses have to disappear completely, and be replaced by accountability.
A normal working real estate agent is probably contacted by loan officers at least 30 times a week. All the loan officers have the same thing to say and same old deals to produce. In such a situation it is obvious of every real estate agent to get fed up and frustrated. How many times do you think that realtor has heard “I’m here to help you build your business,” or “I have referrals I would like to give you?” These sentences start sounding like crap to realtors after being heard so many times.
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But just give it a thought if the loan officers had such business would they actually be calling up realtors? NO..!! The situation would have been opposite and all real estate agents would be queuing at the loan officer’s door steps.
It doesn’t matter how good your marketing strategy is. If you sound like all other loan officers you will get the same response as everyone. The objections we are running in to are a direct result of the approach we are using.
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A fruitful access to real estate agent is when you stop making dumb promises and telling tales of what you can do. Instead take a practical approach and discuss the technical details, pros and cons with them. Tell them that you understand their policies and make them understand yours. Make them realize that you can understand the frustration of getting bombarded with lame deals all over the year.
You will get good results if you approach them in a way that’s different from other loan officers. Always make advancements to stand out from others and you’ll fruit the rewards.
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