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National Mortgage Professional
Mar 29, 2007

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.
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