Where busy originators can find the elusive retail clientBrian Hilliardretail clients, sales tips, sales training, motivation
I was conducting a workshop about networking and which groups
gave originators the best chance to find more retail clients
(individuals looking to buy or sell their homes) before they've
contacted an agent. Make no mistake about itno matter how many
agent alliances you have set up, it's always a good idea to have a
strategy for finding a retail client or two yourself. Not only is
it a more direct route towards closing a loan (you don't have to
hope and pray that an agent gives you business), but it also gives
you leverage with those very agents you're working with (now you
have something to bring to the table for them). And keeping in mind
that people do business with others they know and trust, networking
is one of the best options out there for a busy originator looking
to get more business. So, let's take a look at a couple of options
for finding the right networking group.
The chamber of commerce
The chamber of commerce is considered to be the bedrock of the
local networking community and is located in just about every
county throughout the country. You'll generally find a wide range
of entrepreneurs attending each event, from consultants and coaches
all the way through to bankers and interior designers.
Generally speaking, most of the people in attendance will be in
the 35-45 age range and have been in business for themselves for
less than three years. So as an originator, if you specialize in
working with first-time homebuyers, this might not be the best
venue in which to networkmost people in attendance will have
already bought their first homes.
The same can be said of those who want to work with corporate
relocations, since a majority of those in attendance have started
their own businesseliminating the relocation option. However, if
you're looking to get into the for-sale-by-owner market or focus on
a specific geographic area (say the north part of town versus the
south), then the chamber of commerce might be a good fit.
People tend to gravitate toward the chamber of commerce closest
to their place of work (or home), making it an easy place to find
folks who are in close proximity. The other good thing about the
chamber of commerce is the sheer number of people you'll meet. Just
to give you an idea, I was asked to speak at one of our Atlanta
area chambers of commerce the other day, and we had close to 130
attendees. And while that might not be a huge number when compared
to state association-run mortgage conferences, for a local
networking event, that's a pretty good number. Obviously,
attendance will vary based on your particular city; but generally
speaking, you won't see a chamber of commerce event with less than
20 people in attendance.
Business associations
A business association is a close cousin to the chamber of commerce
event for the simple reason that they too are set up along
geographic lines. Down in Atlanta, we have the Sandy Springs
Business Association, the Buckhead Business Association and
everything else in between. Business associations are generally set
up along city lines (as opposed to counties with the chambers of
commerce), and as a result have less folks there. In terms of the
type of people you'll find in attendance, it's pretty much the same
as the chamber of commerce crowd, except for one major difference:
business associations tend to have more retail establishments
present.
In other words, the chamber of commerce might have a higher
concentration of insurance agents, bankers and consultants, while
your local business association will usually draw out restaurant
owners, fitness club providers and people like that. Again, it
depends on whom you're trying to meet; but if you're an originator
who's just getting his feet wet with this whole networking thing,
then I'd recommend starting off with a business association event.
Generally speaking, you're looking at a smaller crowd (20-70
people), and as I said before, it's also a great way to get plugged
into your local retail business community (gyms, movie theaters and
places like that).
Who knows? Maybe you'll hit it off with an owner or two, and
they'll allow you to put your cards on the counter of the local gym
or coffee shop. Not a bad start for someone trying to get the word
out about his business.
The bottom line
Remember, finding more retail clients is all about getting out of
the office and meeting new people. I know it's a lot easier to sit
back and wait for the phone to ring, but that's not happening
anymore. The refinance boom is over and telemarketing is getting
too expensive, which leaves us with the one cost-effective option
for meeting more prospects: networking.
So, I'd encourage you to find an event or two that sounds good
and put it on your calendar today. Then start putting some of these
good techniques we've talked about into use. Because believe me,
when it's all said and done, it'll be your business that thanks you
for it.
Brian Hilliard is a motivational speaker and author of the
book, "Networking Like a Pro!" He may be reached at (404) 434-2826
or e-mail
[email protected].
