What Worked Best for You to Acquire Writing Point of Sale New Homeowners/auto Business?

[CC1975]

What marketing methods worked best for you to write homeowners/auto personal lines business when prospects were at the point of purchasing their home?

I have spoke with one very successful agent that built his book on mainly realtor referrals. He would meet with them at their agencies, conducting both MCE courses for free, as well as straight sales meetings at which he would give away a nice free gift to generate interest, then follow up individually. He would sell them on what services he could offer them such as running CLUE reports, flood plain checks....selling them that they needed an homeowners insurance pro as part of their own real estate marketing team. He sponsored food at realtor's open houses...the ones during the week that other realtors were invited to. In his area.... he has developed an impressive following among the area realtors as the go to insurance guy.

However...it took him over 5, 6 years to do it and he almost totally quit the insurance business after 3 1/2 yrs.

I know of another very successful agent that built his book on referrals from the sales reps at the model homes at new subdivisions developments. He would call on them on mainly fridays and saturdays and became very successful getting leads and writing business on new homes.

What about calling on mortgage brokers? What about calling on title companies? How do you get these folks to give you referrals. Other than say... a mortgage loan officer /processor needing insurance (proof thereof) to get the loan app approved and off their desk ...what can an insurance agents offer to help them in their business? Other than buyers that have no relationship already with an insurance agent like...first time home buyers and buyers that have moved from out of state ....isn't it true most buyers' apps by the time they hit the mortgage processor's desk already have insurance? Mainly because they just called their existing agent?

How do you get these folks to give you referrals? Other than dripping on these folks for years....or marrying into their family....LOL...what are the secrets of getting referrals from them?

What are the secrets of any other methods of getting point of purchase auto and home individual business?

I would love to hear any ideas and methods that have worked for you...other than phone cold calling individuals (which I have had many agents in business before the no call laws went into effect years ago..tell me that's how they got such business) ....thanks.

 

[nyc2phi]

I hate calling relators/mortgage brokers or doing drop ins. I rarely ever have sucess building a relationship this way. I prefer to run into one at a networking event or establishing a relationship at a BNI or chamber of commerce.

 

[insurance1822]

It's a numbers game...the more realtors/mortgage brokers you prospect...the more you will win over for referrals. ANYTIME a client or their bank calls to update a mortgagee clause, you should personally drive it to them and introduce yourself.

Anytime you get a referral you need to immediately thank the source and keep them fully aware of every step (Today I spoke with so and so...we're saving them X amount per year, I'll let you know what comes of things. Thanks for thinking of me.)

If you focus on your book alone, you will come across many reasons to "meet" these people. If a client calls up to update their insurance because they're buying a new home? That's a realtor & a mortgage person to speak to.

Even if you write a new client from a family or friend..when you're finishing the homeowner's insurance just ask who their real estate agent was back when they bought their home & who handled their mortgage. Then drop by their office and let them know one of your clients said they did a great job for them & you wanted to introduce yourself.

It was tough at first, but when you look somebody in the eye and tell them you're trying to grow your business & you will take care of their clients (and you mean it...) they will notice it.

If a client calls b/c they need to insure their home as a rental b/c they've decided to rent (reason to call their realtor.) Or if they have a question about insuring their home if it's up for sale...reason to talk to realtor.

I used to go to open houses, dress nice, smile, introduce myself to agents and explain myself and leave some quotes for the home itself (which is generic b/c you don't know anything about the prospect.)

I also used to look in the MLS for homes for sale that i knew were in a flood zone and reach out to the listing agent and give them the flood insurance price. Believe it or not, they will forward that to the buying agent.

The "relationship" doesn't come from these prospecting methods, however the opportunity does. When that first referral comes in (no matter how difficult the case might be,) you need to get it done quickly and keep them informed. It will take a solid 6 months to develop a true relationship.

To give you an idea, I write around $25,000 of personal lines premium a month of referral business. I probably have a network of 20 people that refer me business (obviously some more then others.) I no longer have time to do anything other then handle referrals.

Also make sure you're explaining coverage inside and out to the buyer & let the agent know you did that (aka...I spoke to so and so an explained the importance of sinkhole coverage, raising the additional living expense...blahblahblah.) Set yourself apart. They know nothing about insurance, so even just simply explaining (what is the obvious to us) goes a long way.

P.S. real estate & mortgage offices typically have processors or transaction coordinators who handle the offices new business workload..go after them :-)

 

[Bertolinoins]

Red Vines. We drop off a 5 lb bucket of red vines to the processors every 3 weeks with our info on there and we offer a $25 gas card for every home quoted. Realtors and Loan officers usually do not get excited about a $25 gas card but the processors do and they touch every deal that passes through the office. Join your local Association of Realtors and participate. Eventually that community will embrace you but it takes more than one call or lunch meeting.

 

[JCK818]

Great idea Bert. I personally go after business policies, the personal stuff follows

 

[Bertolinoins]

Great idea Bert. I personally go after business policies, the personal stuff follows

I do as well but I have two personal lines agents having success with that method. There is no substitute for being in front of people. Every time they visit a mortgage office and chat up the processors it leads to a handful of quotes and if you don't visit consistently then the flow shuts off. You have to get in front of them and stay in front of them. Most busy offices do 30-40 loans a month... you can get 10-12 of them if you work it right. It only takes 5 offices to keep a personal lines agent very busy.

 

[nyc2phi]

Red Vine like the candy? Hopefully that processor is not a diabetic.

All in all it is a good idea.