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Explain to real estate agents that your goal is to help their clients get the best-possible mortgage. Offer to review their buyers' current good-faith estimates and to give them another with which to compare. This allows borrowers to ensure they are getting the best deal for their situation and helps them feel comfortable with their lending choice.
They may be surprised at the difference in fees and interest rates. If your rates or fees are lower, tell them you would love to do their mortgage but that they also can use your information to negotiate with their current lender. This is a soft-sell situation. You do not want anyone to feel unnecessary stress or pressure.
I have had borrowers close with their original lender but return to me for refinances or refer their friends and family to me because I gave them a second opinion.
To work successfully with real estate agents, you must develop a trust-based relationship. This takes time and consistency on your part. If you talk to a listing agent only once or offer your services as a second-opinion lender just a few times, you likely won't reap the rewards of increased referrals and production. But if you continually use these tactics, you will develop a highly successful affiliation with many of the Realtors and real estate agents from whom you would like to receive steady streams of referrals.
Bliss Sawyer, president of Mortgage Marketing Strategies, is a 14-year veteran of the mortgage industry. Prior to her work as an author, trainer and speaker, she was a top-producing originator. Sawyer can be reached at (806) 577-3937 or via e-mail at firstname.lastname@example.org. Mortgage Marketing Strategies' Web site is www.mortgagemarketingstrategies.com.
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