Successfully prospect real estate agents using a different approach

Are you faced with having to prospect real estate agents to grow your business?

If so, one of the things you can count on hearing from Realtors is how happy they are with their lender. Whether it's true or not, if you are meeting agents who don't know you, it's an objection you'll hear repeatedly. Here are some mortgage marketing ideas on how to handle the objection and keep it from sidetracking your efforts.

Why Are They So Happy?

After introducing youself to realtors, you'll most likely hear the objection, "I'm happy with my lender". And for many inexperienced loan officers, that spells the end of their visit.

First, let's understand why Realtors give you this objection. Actually, it's not an objection, but a conditioned response learned from giving it frequently. Just like when you are approached by a retail clerk when entering a store and being asked, "How can I help you?" You respond conditionally, "No thanks, I'm just looking."

Most loan officers approach a Realtor and solicit them. Often this direct approach backfires. If your mortgage marketing ideas include soliciting real estate agents, you're better of soliciting referrals. It's less confrontational and you might be surprised with the agent's response. Learn how to shape how agents perceive you without making a single cold call

"Hi...my name is Jeff and I'm hoping you can help me. I'm looking for Realtors who are searching for ideas on how to increase sales from their open houses. Do you know an agent or two in your office who would be interested in some fresh ideas?"

Typically, you'll get three types of responses; yes, maybe & no. If they say no, that's easy...move on to the next agent. Remember, they didn't say no to you, but to your mortgage marketing ideas.

If they say yes or maybe, your next questions should gather facts:

• What is their length of experience?
  
• Are they part-time or full-time?
  
• When was the last time they held an open-house?
  
• Did they get any sales from it?
  
• If not, why not?

As you can see, you are working into friendly conversation. Naturally, they'll be curious to know how you help agents increase sales, which opens the door for you to secure permission to market to them.

"The longer I'm in this business, the more I've learned that it takes several things for agents to increase sales from open houses. It begins with increasing traffic, capturing it, and then staying-in-touch. But rather than try to explain all of it, would you mind if I forwarded some information and practical tools that you can easily implement?...Great, what's your email address?"

With permission secured in hand, go to the next agent and so on. If you did this an hour daily, you would quickly build up a list of agents. The bigger the list, the more you increase your chances of finding agents who need your help.

The Next Step to Implementing Better Mortgage Marketing Ideas

If you are unsure on how to help agents increase sales from open houses, check out the Agent Magnet Marketing Center. We help loan officers get clients from Realtors. It's accomplished from several things:

• We help you build a large base of agents who want your information
• We help you develop a reputation as an expert in your local real estate community
• We help you create an online community of agents so you can form relationships
• We teach you how to form partnerships with agents so you get clients

An excellent place to start is by hosting your own Virtual Mortgage Center. It gives you the fundamentals for marketing to Realtors who are interested in working with you.