Using Realtor Relationships to Generate Mortgage Leads

Realtors deal with active homebuyers and sellers on a daily basis. Brokers and agents often become the public's primary "go-to" people for anything related to home ownership. When a couple who bought a home a few years ago decides to refinance, they'll often call their former realtor first. For that reason, realtors are a prime source of dependable and pre-screened free mortgage leads.

Four mortgage lead generation tips

Here are four ways to create professional synergy with realtors to improve your mortgage business:

1. Make yourself available for open houses. Almost everyone who walks through the door of an open house is an ideal candidate for a mortgage. By offering to attend realtor open house events and answer mortgage questions for potential buyers, you can strengthen your working relationships with realtors while simultaneously lending them a helping hand. In the process, you'll likely get plenty of free mortgage leads.
2. Team up with brokers by offering essential services. Brokers are always looking to mortgage lenders for help and information. By trading on your "educational and expertise equity," you can create a win-win situation. You might, for example, offer to do free mortgage workshops for new agents. Or you can attend a real estate office's sales meetings once a month to answer questions about financing. While you're there, you can show them new loan packages or features that have just hit the marketplace.
3. Generate leads through FSBO sellers. Most for-sale-by-owner (FSBO) sellers are new to the game and don't have a clue about mortgage options for their potential buyers. Offer to help them secure financing for their buyers, and they'll most likely welcome you with open arms.
4. Relocate near a major real estate office. In real estate, location is everything. If you're conveniently located near a successful real estate office, you increase your chances of getting business by proxy. When people are working with a realtor, they're also shopping around for a mortgage lender. Put yourself in their sights by choosing a strategic location. You might get business from the broker next door without having to leave your desk.

Mine for leads at the source-namely the point of sale in the real estate process. The more contact you make with those who live and breathe the real estate business, the more free mortgage leads you'll receive. Begin cultivating those relationships now, and eventually they may be your main source of customers-and repeat business-as you reap the results of synergistic cooperation. In any market, especially a competitive one, it pays to be proactive about pursuing potential customers through professional teamwork.

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