WHAT TO SAY TO LISTING AGENTS – TRY THIS IT WORKS

WHAT TO SAY TO LISTING AGENTS – TRY THIS IT WORKS

Have you ever gone after an agents business and had them give you a lame excuse as to why they “can’t” use you? Of course you have , we all have and it’s extremely frustrating.

So in this article I want to break down some of the best excuses I have heard and show you some responses that break thru that clutter. But before we go into that conversation you need to know that I firmly believe that YOU need to control your income.

WHAT DOES THAT MEAN?

Simply put it means that you must have you own marketing systems in place to generate deals where YOU can refer the Realtor and thereby control your own income.
Please RE – READ THAT LAST SENTENCE- I’ll WAIT !
Of course I understand that this may be foreign to most originators since we are all so used to getting our business from referals and realtors/builders. But there are ways to generate your own business.
One of those ways is to market to renters and get to them first. Another way to generate new business is to market to the 7.3 million Boomerang Buyers that everyone else seems to be ignoring.
I cover both at www.toporiginatorsecrets.com

LET’S GET TO YOUR MEETING WITH THE AGENT.
There are generally 3 reasons that an agent will give you as to why they can’t/won’t work with you. Please understand that each of these is generally a lame excuse and simply means that you have NOT shown your value.

Here are the top 3 reasons they will give you and the responses you should think about when you are meeting with them.

1.” I AM JUST A LISTING AGENT.”
I remember when I first heard an agent say this to me. I almost laughed out loud but I thankfully was able to control myself. I responded by saying , “Gee , I am so sorry to hear that and more importantly I am sorry to have wasted your time and mine. I work with a lot of buyers who I am able to get pre-approved and often times they are in need of a Realtor which is why I wanted to meet with you. But since you are ONLY a listing agent I guess we won’t be able to work together. Do you have any suggestions on any Realtors in your office who might be interested?”

The response is always priceless with the agents back tracking and explaining to you that they do work with buyers after all. Now you should not try this until you truly have generated buyers on your own who you can actually refer right on the spot.

Trust me , nothing will impress them more and nothing is a more powerful relationship builder. I generate these deals from renters and boomerang buyers that I market to and you can too.
There are also other ways to deal with this objection. I use a system that allows the agents to promote their listings and has my information on it. You can offer a similar program that helps them promote their listings with mobile sites and social media tools.

You could also offer to provide open house forms and even co-sponsor a brokers open. The possibilities are endless with the tools you can help a listing agent with. One last idea is to offer them a daily list of expired listings and FSBO’s they can market to. There are a number of providers of these lists if you search Google.

But I have also asked these so called “Listing Agents” what do they do if their sellers are looking to buy a home? Do they refer them to “Buyers Only” agents. Of course the answer is no. But instead of just making them feel bad about being caught in a lie it’s better to offer them a service.
“Would you like me to pre-qualify your sellers for a mortgage or answer any of their questions. I know that many sellers are very concerned about their move and want to nail the financing down before they even list their home for sale. So I would be happy to speak with them if you like.

2. WE HAVE OUR OWN IN-HOUSE LENDER I HAVE TO USE.

3. I ALREADY HAVE A GREAT LENDER I WORK WITH .

I have combined responses 2 and 3 because your response to these objections should be the same.
This is probably a true statement but the national statistics show that on average the in-house loan officer generates 23-25% of the business in that office. That percentage is in spite of the fact that the manager of that office is often incentivized based on the capture rate for that lender in that office.

When you hear this response always compliment that company. But ask some probing questions about what deals they have recently closed with that lender and how the process went?
Are there any buyers you interacted with that your lender could not help with ?
What would you improve about these transactions if you could?

The key here is to be quiet and listen! ( Please re-read that although I do know how hard it can be to not say anything). Often by just listening they will tell you exactly how to sell to them and help them meet their challenges.

Have they had any buyers who were turned away because of credit issues?
You could assist by working with some NON QM lenders. Maybe their overlays are not as strict as yours?
Have they had any buyers turned away because of income/self employment?

There are programs available with just bank statements – no tax returns.
Have they had buyers turned away because they did not have enough money for down payment or closing?
There are programs available with grants that could help that their current lender or the in-house lender may not currently offer. Maybe you could provide a lender credit for closing costs, most agents are not aware of this option.

The bottom line is that you must ask probing questions and listen. Find the opportunity and let them know you can help them grow THEIR business with the tools, knowledge, and expertise you have.

Now go out and start making some relationships with LISTING AGENTS !

Brian Sacks is a nationally-renowned mortgage expert who has career closing of more than 5,924 transactions for more than $1 billion. He has trained, consulted and coached, tens of thousands of loan officers and company owners over the past 31 years on how to close more loans, make more money, and still have a life. Brian is the host of “Top Originator Secrets,” which can be seen weekly on Mortgage News Network and on his blog. You can get more information and grab your free report on “How to Get Agents Chasing You” at TopOriginatorSecrets.com

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HOW ORIGINATORS CAN MAKE 2017 YOUR WORST YEAR EVER

Please take a minute to just re-read the title to this article. I am betting that it made you stop didn’t it? In fact , I know it did since you are actually reading this.
This is a very important lesson. In order to stand out and get noticed you MUST be different. Not just different in your approach but different in your messaging. The truth is that we all look alike, sound alike and act alike.

Much of this has to do with the DODD FRANK and CFPB rules, but this has been going on for the past 31 years that I have been in the industry. It is so prevelant that I actually created a name for it.

WEST VIRGINIA MARKETING
I hope no one from West Virginia takes offense because none is intended. But think about it for a minute. When you started in this business you probably looked around at what everyone else was doing and you started doing the same things. Saying the same things and then it becomes a matter of who can spend the most or scream the loudest.

– We Have Great Rates.
– We can close your loan in 3 seconds.
– We provide great service.
– We have great programs.

DOES ANY OF THIS SOUND FAMILIAR?
Now take a minute and think about WHY a client should use you? If the answers you have are the only ones in your arsenal you will not be having a great 2017?
WHY?
This year will likely prove to be a bit more challenging then 2016 was. The day of refis being plentiful and rates cooperating are pretty much over.

2017 WILL BE A PURCHASE YEAR.
This will the transition year back to a regular business based on purchases instead of refinances. That means if you were doing a great job in 2016 and were 70% purchase and only 30% refinances, your income will drop by 30% if you are not able to replace it.

HOW DO YOU REPLACE IT?
Going back to the title of this article you need to stop sounding, looking and acting like everyone else. Stop telling people how great your rates are and what a good job you do. I am going to share a real plan with you so grab a highlighter.

THE STEP BY STEP PROCESS FOR A GREAT 2017.
1. You MUST Create a Plan.
As I travel around the country I hear loan officers telling me how they want to be successful. But success differs for each of us and ONLY you can define what success means for you.
Now let’s pick a figure and figure out how to get there. Suppose you want make 100,000 and you earn 50 basis points on a loan and your average loan is 250,000.
The simple math is that you need to close 80 loans in 2017 or about 7 loans a month. How are you going to do that.
Here’s how my very own plan looks:
– 3 loans from Direct Marketing to Renters
– 7 loans From Realtors/Builders
– 2 loans from past clients/ referral sources ( CPA/ATTORNEY/PLANNER)
– 3 loans from Direct Marketing to Boomerang Buyers
Now you have a plan and an firm idea on the income you want and how it will happen. But wait, we’re not done just yet. Each and every month you need to look at this list and see if it all turned out the way you planned?
Was it better or worse? Why and what do you need to work on this coming month?

2. You MUST Control the Buyers.
If you have read any of my articles you realize how these 5 words are. If you are going out begging Realtors and others for business and telling them how great your service and rates are you simply will NOT succeed.
The truth is that whoever controls the buyer , controls the transaction and the income of everyone in the transaction.

Think about that and let it sink in. Why do you chase Realtors and others? Because they have buyers and you want business. But what if you flip that on it’s head and YOU (the originator) controlled the buyer. You would now have Realtors, Insurance agents , and title companies chasing you .
This is exactly what I do every month and show my members how to use this exact system in the RentersIntoLoans.com system. Life becomes fun again when you have a predictable system for generating new business and have others soliciting you. Sure as heck beats begging doesn’t it?

3. You MUST Be An Expert In A Niche That Is In Demand.
We are truly one of the few industries that doesn’t grasp this concept. Therefore we all look-sound – and act alike. Do you hate rate shoppers? We all do but the only reason a client asks your rate is because they have no other way to distinguish us from the others.
But when you are an expert that whole situation changes.
Think about what happens when you go to a doctor because you have a problem that needs a specialist. You don’t question their advice. You don’
Question their prices? You don’t ask them to meet you in the evening or on a weekend?
Best of all once you have seen a medical specialist for your problem you generally do exactly what they say. It’s no different in our industry.

HERE’S MY SUCCESS RECIPE.
Pick A Niche
Become The Expert
Let Everyone Know About It
.
One of the biggest niches in 2017 will be the Boomerang Buyers who had a credit challenge during the “meltdown.” There are now 7.3 million of them ready and able to buy again.
Best of all there are very few originators going after them so very little competition. In fact I created the whole BoomerangExpert.com system to show my members the step by step way to do this too.
Then you can take these buyers and give them to realtors as you see in the plan above. You could also go to Builders, Realty Companies, Credit Unions, and other loan officers to generate new deals. Most of these companies will not deal with Boomerang Buyers but they are an excellent source for you to establish yourself as the local Boomerang Expert.
HERE IS SPECIAL REPLAY ON HOW YOU CAN BE A BOOMERANG EXPERT TOO- http://boomerangexpert.com/replay/

4. You MUST EXECUTE.
This should go without saying but all the plans in the world are worthless if you don’t execute. It all starts with the plan so you know where you are headed, and then monitoring your progress on the way.
Never let any minor setback throw you off. Just stick to your plan and adjust as is needed. Now stop reading and get to work and my best wishes for a prosperous 2017.

2 MORE IMPORTANT POINTS BEFORE WE START THE NEW YEAR —

One of the best ways I have found to actually find Realtors and Referral Sources is linked in

Here’s the exact linked in training I learned from.
https://johnnemo.samcart.com/referral/mSaDYuEH/998805

HAVE YOU EVER WONDERED THE “UNDER THE RADAR” PSYCHOLOGY OF WHAT ATTRACTS OR REPELS CLIENTS AND REFERRAL SOURCES? WHY DO PEOPLE CHOOSE YOU OR DECIDE TO USE SOMEONE ELSE?
CHECK THIS OUT-
THIS TRULY GIVES LOAN OFFICERS AN “UNFAIR EDGE”
http://lounfairedge.com/now/

Brian Sacks is a nationally-renowned mortgage expert who has career closing of more than 5,924 transactions for more than $1 billion. He has trained, consulted and coached, tens of thousands of loan officers and company owners over the past 31 years on how to close more loans, make more money, and still have a life. Brian is the host of “Top Originator Secrets,” which can be seen weekly on Mortgage News Network and on his blog. You can get more information and grab your free report on “How to Get Agents Chasing You” at TopOriginatorSecrets.com

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Ever Wonder How To Get Deals and Realtionships From Linked IN? Free Training

Have you ever wondered how to get deals and new relationships from Linked IN
I did and found a great teacher,
In fact- I followed his advice and was voted one of the top 50 most connected Originators in the US.
He is putting on a training and I wanted to make sure you didn’t miss it

johnnemo.ontraport.com/t?orid=4929&opid=2

Dedicated To Increasing Your Production
Brian Sacks
www.TopOriginatorSecrets.com

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