|
Nope! I never did. As a
RealtorÒ,
I never cared about your smile or your kids. I never cared about your rate
sheet. I never cared about the fact you could close a loan in five, 15,17, or 21
days. And most of all, I never cared about the gimmicks you used to acquire my
business. The only thing I cared about as a top producing real estate agent was
impacting my net bottom line and impacting my clients' lives. So there you were devising a
marketing plan to obtain my business. It was consistently short with an unreal
value and perception of value. So what to do? First, the loan officer of the new
millennium needs to understand the plight of the real estate agent. Survival of
the fittest is the new "by" word and the fittest means having the
technological savvy to maintain a presence in the client's eyes where technology
giant would like to tread. It has been proposed that giant would like to gain
access to our market by going consumer direct with a fancy, national MLS and
with affinity relationships that control the majority of the total real estate
sphere of transactions. As this is convenient for
clients, it has also proven to be a "take a number," reduced price,
low service, and lower rung representation by real estate agents. This type of
service consistently does not produce referrals, repeat clients, or glowing
stories at cocktail parties. The top real estate agents in the new millennium
will rise above the Wal-Mart type services offered by the technology giants and
use their intimate knowledge of the neighborhoods and the movers and shakers
that live within, to create relationships and therefore repeat and return
business. It is the top real estate that understands this, stays current, and applies effectiveness through technology and delegation. The squeeze on my business, which is the real estate agents side, is being felt. In concert with this however, we are finding that the agents that can't compete are leaving the business. Therefore, we are setting up the war between the technological giants who can provide many services at the lowest cost with the independent, boutique, super agent who understands relationships and intimate local knowledge. Who, as a loan officer, do
you think you will be most likely to receive business from? Obviously, the technology
giants will have affinity relationships that may not include your company.
However, the local mega-real estate agent, who as we stated earlier is only
interested in net bottom line production and client "impactfulness,"
will want the hungry, eye-of-the-tiger, loan officer who understands how to
facilitate these desires. In a series of articles, I am going to provide you with step-by-step plans on how to segregate the top producing real estate agents, determine their survival rate, develop telemarketing and direct mail campaigns to catch their eye, and walk you through a complete personal presentation that will blow their socks off. Following up with consistent idea giving and team "partnershipping" will prove to them your desire to move the team to the next level. The top producing real
estate agent, like any other provider of service, is likely to have the first
contact with the potential buyer or seller and therefore has the first
opportunity to impact the direction of the transaction. The transaction being
which affiliated services will be used. The client has the ability to obtain
these services by way of the Internet, technological giants, or their local
mega-producing real estate agent who provides a customizes, personal,
interactive, belly-to-belly service. It would be my bet that the
survival rate among top producing real estate agents will be supported by the
top echelon of potential buyers and sellers. Therefore, the
relationship-building skills you have with the top real estate agents are
paramount. My survival rate will be consistent with my ability to give
personalized service to my clientele. This makes demand for personal services
from you in the areas of client communication, lead generation, follow-up,
data-base management, and people skills more important than your ability to
provide me with excellent loan rates at phenomenal delivery dates. Remember, I
can receive the same promises for loans over the Internet, but that is not my
goal. My goal is to impact my clients and therefore, their personal interaction
with you will build the perception of a total package of services from the real
estate agent. This will go a long way in creating the return business and
referral business that is paramount to my business. I hope you understand that
return and repeat business is the least expensive lead generation that I
potentially have. The lead generation business that you hear so much about (for
sale by owners, expireds, past client data bases, non-owner occupieds, first
time buyers, and various other methods) has become the most expensive method of
maintaining a real estate business. Therefore, your services now, acting in
concert with the team, will be required to build a total perception that
facilitates return and repeat business. The potential buyer or
seller who comes to me looks at the product first and financing later. The
people who sell the concept of financing first and product later will soon find
that the same poor numbers are generated from banks and savings and loans that
advertise, "Come see us first for a car loan before you go look for your
car!" It's product first, relationship second, and delivering the financing
third. It is the top real estate agent who will be put in the position of being
able to provide that service first. Your only question remains "How do I effect the top real estate agent in my town?" My answer is, "Learn the real estate business!" Any top salesperson knows that the fastest way to provide a market for a product is to make sure that product provides solutions to my day-to -day business. This means understanding my business. If you were selling copiers to a pharmaceutical company, you would pour over the company's financial statements and annual reports to determine the potential need for your product. The same goes for your potential real estate agents. After identifying them as potential or realistic top "elephant agents," ask the appropriate questions to find out what the greatest needs are that can be supplied by you-the loan officer. |
