Using Realtors for Marketing Leads

Dealing with homebuyers is what defines being a realtor. Real estate agents are the homebuyers' "go-to" people for anything associated with owning a home. Agents are not only a valuable source of information about first time buyers, they also provide refinancing leads, as well. A good working relationship with a realtor can provide more free, dependable mortgage marketing leads than you could ever generate through cold calling.

Tips for successful relationships

The realtor must see the relationship with the loan originator as symbiotic. You need to help agents grow their business by not only providing them with listings, but also referring Competitive Market Analysis (CMA) business. Homeowners who use a realtor for a market analysis will go back to that realtor when they're ready to sell. Canvass your current database of borrowers to see if they can refer you to homeowners looking to sell. Create a direct mail piece for local homeowners, encouraging them to discover their homes' worth.

Once you've successfully amassed a list, let realtors know about it. Create a database of local real estate agents, and let them know that you have referrals. Don't indicate, however, that you're looking for mortgage leads in return. Have them get back to you to find out more.

Becoming desirable

Why should any realtor choose your company over all of the other origination firms out there? Because they trust your company's reputation, they know you'll work with their clients to get them the best loan possible, and you're giving them a possible gold mine of homeowners who might be interested in selling to capitalize on their homes' values. That means listings, and for that, realtors are eager to return the favor. Remember, a realtor depends on clients for both repeat and word-of-mouth business. They won't be recommended or used again if they gave their clients bad advice when they tell them to apply for a loan with your company. So you must deliver.

These mortgage marketing tips can help keep a loan origination company thriving. One of the best tips to find loan referrals is to work with your local real estate agencies.