- 676
Ok, been wanting to develop relations with these networks. Anyone care to share what they did that worked to build relationships with these two groups?
Mortgage Brokers and Real Estate Agents
- Thread starter blue_wynd
- Start date
- 1,908
It tends to be one sided, with your side not doing too well.
People always want a better rate on their mortgage. That's an easy conversation to have. Not so much in the other direction.
A better relationship would be with Financial Planners that DON'T sell insurance, and Investment Advisors.
Oops! Just realized this was the P&C Forum. Please disregard what I just posted. I know not what I am talking about.
People always want a better rate on their mortgage. That's an easy conversation to have. Not so much in the other direction.
A better relationship would be with Financial Planners that DON'T sell insurance, and Investment Advisors.
Oops! Just realized this was the P&C Forum. Please disregard what I just posted. I know not what I am talking about.
Last edited:
- Thread starter
- #5
- 676
Ok, now that we are all drunk. Who wants to spill the beans?
Start with a networking group, chamber, and weekly networking events and slowly work your way in weekly sales meetings
- 1,581
It will start with bailing them out in a time of need (financials are super tight for the lender & their existing homeowner's insurance company's rate is too high & it's killing the loan.) You'll need a market for vacant homes undergoing renovations (not just foremost...but a solid alternative otherwise the premiums will be stupid.)
I can see from your previous posts you're an Erie guy & without better carrier representation you simply won't be able to consistently deliver on hard to place risks to have them consider you the 100% problem solver no-matter what the situation is.
In the beginning it will be $hit deals (poor credit, previous claims etc) that Erie won't have a competitive market for....period.
I can see from your previous posts you're an Erie guy & without better carrier representation you simply won't be able to consistently deliver on hard to place risks to have them consider you the 100% problem solver no-matter what the situation is.
In the beginning it will be $hit deals (poor credit, previous claims etc) that Erie won't have a competitive market for....period.
Keep in mind, a lot of P&C guys are working this market, doesn't mean you shouldn't (in fact you should) but it does mean there isn't a secret sauce.
Realize that a lot of realtors only sell a few houses a year. These are not the ones you need to spend a lot of time cultivating relationships with, but sometimes they can help open the door. My caution here is to be careful of your time, spend it wisely.
Networking groups are a good way to introduce yourself, keep in mind though, at things like chamber mixers, you aren't going to solidify a bunch of referrals. Spend the time meeting people and knowing who is there.
Next, get to know their business. You play one part of a thousand in getting a transaction done. They need people who understand the problems and can deal with them without handholding.
Start attending open houses. Its a good way to talk with realtors while they may have some time on their hands (realize they are working during this time, but may enjoy a 15 minute sidetrack if nobody is looking at the home). Heck, even offer to sit at some open houses for them (if licensing in your state allows, you can't negotiate or give prices, but you can collect names and numbers while they get some lunch sometimes). Doing this is a good way to meet some prospective clients as well.
Don't expect miracles overnight, it takes time.
Go to the local realtor meeting and even sponsor it from time to time. Make sure they know who you are.
Join BNI or another networking group. Frequently difficult, but it will give you an immediate 'power-team' to work with.
Dan
Realize that a lot of realtors only sell a few houses a year. These are not the ones you need to spend a lot of time cultivating relationships with, but sometimes they can help open the door. My caution here is to be careful of your time, spend it wisely.
Networking groups are a good way to introduce yourself, keep in mind though, at things like chamber mixers, you aren't going to solidify a bunch of referrals. Spend the time meeting people and knowing who is there.
Next, get to know their business. You play one part of a thousand in getting a transaction done. They need people who understand the problems and can deal with them without handholding.
Start attending open houses. Its a good way to talk with realtors while they may have some time on their hands (realize they are working during this time, but may enjoy a 15 minute sidetrack if nobody is looking at the home). Heck, even offer to sit at some open houses for them (if licensing in your state allows, you can't negotiate or give prices, but you can collect names and numbers while they get some lunch sometimes). Doing this is a good way to meet some prospective clients as well.
Don't expect miracles overnight, it takes time.
Go to the local realtor meeting and even sponsor it from time to time. Make sure they know who you are.
Join BNI or another networking group. Frequently difficult, but it will give you an immediate 'power-team' to work with.
Dan
- 100
When one of my clients is buying a house I ask them who their real estate agent/mortgage broker is and call and introduce myself and let them know I'll be providing the binder/receipt for the closing for our mutual customer. I then mention to the agent/broker that if they're happy with my service to please keep me in mind if I can ever be of service to them or one of their clients in the future. Help other people do their jobs and in return others will help you.... It's free, it works and all I have to do is answer the phone and be courteous/professional.
Similar threads
- Poll
