How Mortgage Brokers Can Leverage Relationships With Realtors to Get More Leads

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May 18, 2017 | By RGR Marketing Blog

Mortgage Professionals: Make the Most of Your Business Relationships

The work life of a mortgage broker generally revolves around two things—the job itself, and the larger task of bringing in more business. One tried and true way to bring in more business is through referrals from real estate professionals.

Realtors, for better and worse, are often the first person contacted by first-time prospective homebuyers. As such, Realtors are often in a very good place to qualify mortgage leads and to pass them along to mortgage brokers with whom they have a good working relationship.

This is why, beyond simple and honest professional courtesy, maintaining great working relationships with the Realtors in the area is so important to the eventual success of any mortgage broker. In this post we will highlight some of the ways mortgage brokers can foster their relationships with local Realtors while leveraging those relationships to get the high quality, pre-qualified (in many cases) mortgage leads that they so depend on.

Make Yourself a Resource to Local Realtors

Realtors, for a variety of reasons, have become the go-to for all consumer questions regarding the process of buying (and in some cases, refinancing) a home. For this reason, one of the key ways to invest in your relationships with local Realtors can come in the form of making yourself available to answer mortgage questions on an ad hoc basis, or at open houses and other Realtor-sponsored events.

For extra points, consider starting your own educational series for prospective homebuyers. In exchange for one evening of your time per week (or every-other week, or month depending on the amount of activity in your area) you could have Realtors in your area sending you business, just to get buyers from clogging their inbox with questions that are better suited for a mortgage broker in the first place.

Location, Location, Location

If you’re just starting out as a mortgage broker, or have joined an existing firm, you may have little choice over where you are, or can be, located. However, if you do have some choice in where your offices will be located, try to shoot for a location nearby one or more of the biggest real estate offices in your area.

Maximizing your networking opportunities doesn’t always come down to proximity, but in some cases the deal you get started at the local coffee shop or bar can turn into the one that makes your quarter, or year.

Marketing Partnerships That Work for Mortgage Professionals

Another way to maximize your ability to leverage your relationship with local Realtors comes in fostering marketing partnerships with them. If you can offer a Realtor actual value in terms of new business, they in turn should be happy to partner with you, even sharing in the cost of developing and executing local and regional marketing campaigns in both digital and real-world environments.

Saving money on your marketing while cementing your relationship with a Realtor partner is a great way to drive business for both parties.

Focus on the Relationship Part First

Many Realtors can come off as arrogant or aloof to the beginning mortgage broker. If they already have established relationships with other loan originators, they may not see the value in cultivating a new relationship with you. Focus on what you can do for them, rather than how many quality referrals you may get in return, and you may find yourself with more leads than you have time to capitalize on.

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Mortgage Professionals: Make the Most of Your Business Relationships

Make Yourself a Resource to Local Realtors

Location, Location, Location

Marketing Partnerships That Work for Mortgage Professionals

Focus on the Relationship Part First

Start making more
money today!

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Mortgage Professionals: Make the Most of Your Business Relationships

Make Yourself a Resource to Local Realtors

Location, Location, Location

Marketing Partnerships That Work for Mortgage Professionals

Focus on the Relationship Part First

Start making more money today!

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