Speed marketing for loan officersGeoff ZimpferShrinking market, refinance originations, marketing
How to get maximum real estate agent referrals in
minimum time
You already know that we've entered into a more challenging,
shrinking market for refinance originations. Overall volume is
down, the number of originators competing for that shrinking pie is
higher than ever and those who survive must have a reliable source
for purchase business. You also know that according to the National Association of Realtors,
real estate agents are the first point of contact for buyers at
least 63 percent of the time or more. In short, if you're an
originator today and you expect to not just survive but to thrive
during this transitional market and beyond, a large part of your
success will result from how effective you are at generating,
capturing and growing your real estate agent-referred purchase
business.
Even though this industry is awash in training and motivation,
so few loan officers actually experience significant success
working with real estate agents, and the few who do often end up
with no personal life to speak of - working like dogs; on-call 24
hours a day, seven days a week; working weekends and being slaves
to the business.
Well, it does not have to be that way, and I can and will prove
to you that there definitely is a better way, a whole new paradigm
for getting referrals from real estate agents in this business. I
call it "Speed Marketing for Loan Officers." It's a real estate
agent referral seminar system that puts butts in the seats and
loans in your pipeline, and it works better than open houses,
office presentations, cold calling, mailers, car washes or any
other method you've heard of or tried. I know because I use it to
work fewer hours capturing real estate agent relationships than
just about any loan officer. I know how to get referral business
from agents. In fact, last year, only my second year as a loan
officer, my personal origination volume was $27 million, with 78
percent being purchase loans brought to me by my real estate agents
via the "Speed Marketing Realtor Referral Seminar System." This
year, only my third year as a loan officer, I'm on track to boost
my production another $10-$37 million, even in a shrinking market.
I know that doesn't earn me a spot on Mortgage Originator's Top 200
list, but it's not bad for a rookie only in his third year. More
importantly, I get agent referrals with less stress, strain,
struggle and frustration than any loan officer I know who chooses
to work with real estate agents.
Oh, and another thing: I am thoroughly sick of these guys who
have never originated a loan or dealt with nagging, demanding,
fickle agents running around telling you how to get loans from real
estate agents. They then charge whopping sums of money for coaching
that either isn't coaching at all, or merely piling 1,000 people in
a room and running a revival meeting, hocking all kinds of books,
tapes and products that have nothing to do with getting a steady
supply of referrals from real estate agents. These false prophets
may be great stage performers (admittedly, I'm not), or mesmerizing
and hypnotic speakers, and they may be entertaining as Elvis
returned from the grave, but when was the last time they actually
did anything they teach? I got two referrals from agents yesterday
and I got one more today.
There are also some whizbangs giving seminars, still screaming
at you to make more cold calls, hit more open houses on weekends,
be more persistent than the whole world and learn to eat rejection
for breakfast. That's because that's all they know. But for most,
it's a recipe for failure.
Geoff Zimpfer is a loan officer and creator of Speed
Marketing for Mortgage Brokers: How to Get Maximum Realtors in
Minimum Time. He can be reached at (949) 584-9943 or visit his Web
site for a free report at www.speedmarketingsystem.com.
