By Doren Aldana
Are you wasting your time chasing Realtors to no avail, knowing there must be a better way but not knowing how to fix it? If so, with “you’ve come to the right post because you’re about to discover the TOP 6 MISTAKES most mortgage pros make when calling on Realtors (and how to avoid them).
After almost two decades of coaching mortgage pros to success, I’ve tested dozens and dozens of different approaches to attracting Realtors, most of them failed miserably. Only a few actually worked. What you’re about to learn today is not theory. It’s the culmination of 2 decades of blood, sweat and tears, failing forward until we finally cracked the code on what works. With that in mind, here are the TOP 6 Mistakes to Avoid When Calling on Realtors.
MISTAKE 1: Targeting low producers. They might seem more approachable and easier to attract but the problem is, they don’t have much business to send you. If you’re going to invest your time cultivating partnerships, you might as well go after the top dogs doing 15+ buyer sides per year, who can send you 1-3 deals per month instead of 1-3 deals per year!
MISTAKE 2: Weak value proposition. Remember, perception is reality. You might think your value prop is the bomb diggity but until your ideal Realtor partners share your sentiment, none of that matters. Offering great rates, great service, crappy internet leads – that’s all weak value. What value are you offering that no one else is that would motivate a top dog Realtor to make the switch? The ultimate hook: BUYERS & SELLERS. (Why smart, ambitious, growth-minded mortgage pros hire us – learn the secret sauce on how to generate buyers and sellers)
MISTAKE 3: Not using text messages. If you’re only making phone calls and sending emails, you’re leaving a lot of juice in the fruit. Text messaging is the HOLY GRAIL of marketing communication. Everyone reads their texts! But you need them to be short, punchy and to the point. Nothing too salesy. Remember, the more you sell, the more you repel! Our proven text template typically generates at 55% response rate, most of which are interested!
MISTAKE 4: Being needy (lacking confidence). Realtors already have enough doubt and fear of their own, they don’t need yours! Remember: you are a merchant of CERTAINTY! So, avoid using wobble words like, “Um”, “Ugh”, “Maybe” “Kinda” “Sorta” “Basically” — those are all project lack of certainty. They don’t need to believe in what you’re saying but they do need to believe that YOU believe in what you’re saying!
MISTAKE 5: No qualification process. Most LOs let themselves be the person being interviewed, not the other way around. Why? Because they’ll take anyone with a pulse who can fog a mirror who calls themselves a Realtor, instead of having HIGH STANDARDS and only accepted the best of the best who qualify. Stop being “easy to get” and start vetting to make it a privilege to be your partner!
MISTAKE 6: Not owning the power position. This is linked to mistake #2, #4 and #5 – beggars can’t be choosers. It’s the difference between vetting people to see if they qualify to roll with you in your Ferrari vs. Hitch Hiking (hoping someone will pick you up). The question is, do you offer enough unique value to justify vetting people to see if they qualify to gain exclusive access?
CONCLUSION:
In conclusion, avoiding these six common mistakes can significantly enhance your effectiveness when calling on realtors. By targeting high producers, presenting a strong value proposition, efficiently using text messages, exuding confidence, implementing a thorough qualification process, and owning your power position, you’ll be well-equipped to forge stronger, more productive relationships with realtors.
Ready to dive deeper into these strategies?
Watch the video version of this blog article for more insights and practical tips. Click the video below to watch now!
