Hey my friend, in today’s competitive and connected world, cold calls to real estate agents are about the worst way to get a loan there is. Agents get tons of calls a day.
Needless to say, if you’re pitching an Agent, they’ve already heard anything you can say. Especially since Agents couldn’t care less about rates, fees or days in underwriting.
In one of the loan officer groups I belong to, a guy posted and asked what would be the best line to give to an Agent to get business from them.
“Hey Agent, I have a hot lead that I’ve qualified that is looking to buy a home/sell a home in your market. Are you free to take on new clients? Are you able to speak about this in detail now?“You may be thinking “Sure, Chris that sounds great but I don’t have a lead and I’m not going to call and lie to an Agent I’m trying to build an honest relationship with.”
It’s not just one person per industry either. It’s dozens of LOs, title companies, inspectors, sign companies and everyone else in the world, asking for business.
In order for you to stand out and get their attention, you need to make the offer to give, not take.
By hitting an Agent up and offering to give them business instead of asking to take business from them, you’ve taken away their ability to give you the same old ‘I already have a lender” response.
Now, there are a three ways for you to get leads!
Sometimes you can’t do anything for a lead. Say they have not-so great credit and need to sell their home to pay off debt. You can’t do a loan for them and the average LO would turn them down and move on.
A good LO will get them to an Agent to sell their home, then ask the Agent for a client in return. An even better LO will get them to credit repair and close them on a new home in 6 months.