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A Different Approach

attractive business woman

Are you tired of being rejected by real estate agents? Or are you unsure how to meet one? Learn next what began as an assignment I gave my coaching clients and turned into a powerful approach to meeting agents successfully.

Are You Guilty?

If you're constantly being rejected when you meet real estate agents, you are using the wrong approach. The typical approach I've watched loan officers use that generates terrible results is a typical sales technique - you meet an agent, ask a few questions and then try to convince them why they should do business with you. It's also called, "Soliciting."

Guess what? Soliciting shouldn't be your first option when marketing to agents. Why do you want to demonstrate a behavior that real estate agents don't like? Soliciting isn't putting your best foot forward, or is it the way to making friends quickly.

Part of the problem is that there are too many loan officers soliciting agents. You have to use a different approach to get cooperation, an approach that isn't a sales approach, but instead a fact-finding approach.

I don't teach my coaching clients to make sales calls. I teach my clients to make a call that's more comfortable, a call with a single purpose - to learn as much as they can about the agent.

Hopefully one of the reasons you became a loan officer is because you enjoy learning about people. You enjoy learning about their problems and how you can help solve them.

It's no different with real estate agents. If you really consider yourself as being in the "people business," you should enjoy learning about agents, understanding their problems and how you can help solve them.

Stop Selling & Start Learning

To help my clients meet agents, I created a simple tool that helps facilitate the process. The tool is a survey. A survey is an easy method for getting an agent to discuss their favorite subject with you. Of course, their favorite subject is to talk about themselves.

My clients explain to an agent that they're performing a survey and wish to ask a few questions. Here's a sample list of questions:

  1. How long have they been in business?
  2. Are they a Seller or Buyer Agent?
  3. Describe their typical day on the job?
  4. What are their most important goals?
  5. Do they feel they're accomplishing them?
  6. What's holding them back?
  7. What's stressing them out the most?
  8. What's necessary to fix it?

All the questions are real estate related. I instruct my clients not to ask questions related to mortgages, mortgage services, etc. Since we already have a good idea of the problems agents have with mortgage lenders, I want my coaching clients to discover what problems agents spend most of their time trying to solve.

Can you imagine for a moment what the problem became once the loan officer got the agent talking? They couldn't get them to shut up!

People love to talk about two things: themselves and their problems. From this approach, my clients experience several positive results:

  1. Agents comment on how enjoyable it was for someone to listen to them.
  2. Once the agent understood it wasn't a sales call (stated clearly upfront), they happily shared their problems.
  3. Nearly every survey ends with the agent inquiring about the loan officer's services.

This is an effective entry strategy. With this approach you do absolutely no selling. You're only concentrating on learning as much about the agent as possible. Because once you've completed surveys with a dozen or more agents, you'll spot which problems you can help solve and quickly discover your next step to building relationships.

Successfully Yours,

signature

Jeffrey Nelson
Author & Coach

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Fast Path to Success

Business man on phone

Do you feel confused and unsure where to begin marketing to attract more referrals from real estate agents?

If so, you're not alone. It's getting harder and harder to persuade agents to refer their buyers to you and get your clients to evangelize your service to others.

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"Since working with Jeff Nelson, I've developed a vision andmission for my business which allows me to clearly identify mytarget market and focus on my messages.

I continually receive compliments on the marketing pieces that I produce with him andappreciate our co-creative business relationship. Thanks, Jeff!"

Best Regards,

Deanna Peters
State Mortgage