Faculty Friday: How to Be the Real Estate Agent’s Best Friend
Written by Dave King, Vantage Production Faculty Member and Managing Loan Officer, SWBC Mortgage, NMLS#: 257324 on April 28, 2017 at 2:59 PM
How do we help our real estate partners out? Give back to them.
The number one complaint of real estate agents is that lenders don’t communicate well. Determine what you can do to not fall into that trap.
Share seller expectations
Whenever you are doing a pre-qualification for clients who also need to sell their home, ask what they think their current home is worth. That’s valuable information to share with real estate agents. Tell agents what to expect before they meet with sellers. It’s helpful for agents to walk into that situation knowing what to expect.
Teach them how to market
Based on the National Association of REALTORS® annual homebuyer and home seller study year after year, real estate agents are missing out on a ton of repeat business. The survey has the same results almost every year. Results show that 80 to 90 percent of homebuyers and home sellers liked the agent they worked with, but only 10 to 20 percent of them use the same real estate agent.
Why? Agents are just not staying in touch.
Teach them how to stay in touch, even if it's just a recommendation to send a postcard each month. Encourage them to use an automated marketing program. Help them be better at it. Share your experiences with them.
The Vantage Production Faculty is a unique group of mortgage pros who are among the best-of-the-best in the mortgage industry today. Recently, we asked them to share their best money-making strategies during a webinar.
These strategies come straight from the streets where our experts are doing a lot of business, and these strategies have helped them change their business and ultimately change their clients’ lives.
Each strategy presented by the Vantage Production Faculty is simple, effective and easy to replicate. When you put these in place and execute consistently, that’s how you make business happen.
To download the complete e-book with all 11 Money-Making Strategies, click here.
Dave King is the sales manager for SWBC Mortgage in Denver, Colorado. He has been originating since 1985 and has been the managing loan officer in his office since 1994, fueling his passion for educating his colleagues.
Dave is also an accomplished author. From 2002-2008, he wrote "Loan Officer Insights," a daily column that was distributed throughout his company and was designed to educate, enlighten, encourage and entertain thousands of fellow employees nationwide.
He has closed over $1 billion in personal production and has been named on the Scotsman Guide's top 200 loan originators and top FHA/VA lenders numerous times. Dave is also a former member of the State of Colorado's Council of Advisors on Consumer Credit and Mortgage Task Force.