As published in Scotsman Guide's Residential Edition, July 2005.
Real-estate agents are a popular target in marketing for purchase business. Everyone wants to be part of their transactions, including home inspectors, appraisers, title companies, construction workers, insurance agents, carpet cleaners and many more.
As loan originators, our goal is to have real-estate agents partner with us, and we also try to develop skills and tools to assist them. We can help them print fliers, hold training seminars and advertise. These are all good ideas, but every other originator is offering similar tools — and agents can see them coming.
In reality, real-estate agents want service instead of a bunch of stuff. They want an originator who exceeds expectations, performs and acts professional. Instead of begging these agents with gizmos and promotional assistance, we must find new ways to show them that we are their best business partners.
Plan your game
When establishing a relationship, real-estate agents want to know its value. For example, they want to know what leads and referrals an originator might bring. Bringing agents business is, in fact, a good way of marketing to them as a value asset.
Using “atypical marketing” to reach these agents can show them your value — and your competitive advantage. In most states, real-estate agents face strict guidelines for marketing themselves. In many cases, however, actions that might be illegal for them are legal for originators. Originators should show agents that they can perform things agents cannot do themselves.
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