Are you prospecting real estates agents only to be rejected by their famous last words, "I already work with a lender?" Of the major objections agents express, this one outranks all of them. I've witnessed these 6 words ruin too many careers.
 
The best thing you can do is to accept the fact that most, if not all agents will express this objection. Why? Because it's a conditioned reflex; a learned response to a particular stimulus.
 
For instance, when you walk into a retail store and the clerk approaches and inquires, "How can I help you?" (stimulus) without hesitation you say, "No thanks, I'm just looking" (learned response).
 
Agents have conditioned their mind to respond when solicited by loan officers with the same reflex.

Avoid Confrontation

Over the years I've experimented different approach tactics with real estate agents. When I traced my successes against my failures, there was one consistent trend: I was always more successful prospecting when my approach avoided confrontation.
 
You avoid confrontation by not soliciting agents directly. Remember, you are the stimulus, so what you say triggers their reflexes.
 
This would be a better approach:

Hi, my name is Jeff Nelson with ABC Mortgage. (Don't Pause) I assume you work with a lender already, but I was hoping you could help me. I'm looking for agents who are struggling (describe the type of problems you solve), which agents in your office do you think would appreciate some information about this?

As you see in the first part of this approach, you purposely assume they work with another lender. By stating the objection first, you have removed it. You have broken the stimulus that triggers their reflex. It's powerful because this pattern of behavior is the direct opposite of the stereotypical loan officer, which immediately changes the agent's perception of you.
 
It's the second part that completes your approach. By asking for a referral, in effect, you disarm the agent. With the agent disarmed, you gain the cooperation you desire because the agent doesn't feel threatened, threatened in the sense that you are trying to sell them something.
 
Finally, your effectiveness hinges on your ability to accurately describe problems you help solve for agents. If your description is lackluster, or breathes the same stuff that every other loan officer promises like, "Close your loans on time, deliver great service, etc." you'll end up defeating your entire purpose.
 
Remember, this is your golden opportunity to differentiate from competition in the first 5 seconds of your approach.

There are lots of sales theories implying that only extroverts become successful loan officers. Guess what? Whether you consider yourself an extrovert an introvert, you can be just as successful with the right mortgage marketing plan -- one that allows you to meet and talk with real estate agents in a stress free environment
 
Introvert Vs. Extrovert

First, let's set the record straight. Very few people are totally one-dimensional when it comes to their communication style; most people are a blend of introvert and extrovert behavior, dependent on the situation and comfort level.
 
Therefore, your anxiety level is usually determined more by your current surroundings, and less by a simple social label. So if you have a situation where you can talk to people about something in your comfort zone, you can be just as extroverted as anyone else.

Market to Your Strengths

What is it about your business that makes you passionate? Do you like the opportunities to meet with clients and have one-on-one conversations? Do you like to find solutions for clients and agents? Are you at your best when problem solving with a Realtor®?
 
If this sounds like a fairly accurate description of your style, you have all the makings of a talented loan officer. You are a relationship-focused individual and you will succeed when you develop a mortgage marketing plan that emphasize relationship building as a part of your business.

Working Within Your Comfort Zone

So… if relationship building is the most comfortable method of business, why waste time trying to cold call a real estate office?
 
Sit down and do an inventory of your strengths and weaknesses. Do you like to help others succeed in their business? Maybe you should consider a mortgage marketing plan that incorporates joint ventures with agents, such as co-hosting open houses, working together at trade shows, holding joint seminars, etc.
 
If you like to solve problems and have one-on-one conversations, you could approach real estate agents as part of a "fact finding" mission; a no-pressure conversation about uncovering problems and finding solutions. There are many ways that you can sit down with an agent and have a conversation without it turning into a sales pitch.
 
Do you already have a strong relationship with a few agents? You can easily use those relationships in your marketing plan, simply by adding testimonials from the agents into your marketing pieces.