Sometimes it takes an outsiders view to notice how we're screwing up
Ever wonder what mistakes we as Realtors are making from the point of view of a mortgage lender? Have you focused on searching out new leads, but not on relationship building? I sat down with Phil Treadwell, Host of the Mortgage Marketing Expert Podcast and VP/Area Manager of Highlands Residential Mortgage and we discussed what he thinks is the biggest mistake realtors are making. His answer was simple, fruitful relationships come from finding likeminded partners and investing time in fostering those relationship. Ideas are good, plans are better but execution is what differentiates realtors and the most successful agents identify partners who share in business philosophies and invest in growing those relationships.
Having a first-class team (Realtor, mortgage lender, title, etc) can lead not only to your clients success but a mutually gratifying experience for all. Putting that team together takes time and research. That research comes from sitting down with them and getting to know what drives them. What are their business principles and even learning what you two have in common outside of work. Once you have your dream team in place, understanding how to add value to your clients experience begins with a great introduction to your team, which Phil covers perfectly in the podcast. The introduction includes identifying how their service experience will depend on having a team who knows how to work cohesively and has a track record of getting the job done well.
Taking the simple route and soliciting real estate leads from lenders usually doesn't foster the relationship most agents are actually looking for and they often find themselves frustrated with the real estate leads they receive. One huge misconception in building great partner relationships between lenders and Realtors is the expectation that lenders are only lead generators. Although great lenders know how to qualify and prepare buyers for an agent, their value far exceeds that and lies in working with a high level of trust and service standards. Thriving businesses are built on quality relationships, not a barter system. Understanding how to generate trusting relationships is the key to longstanding successful partnerships.
Many agents focus on marketing but miss out on two important components. Phil points out how affective marketing is the balance of trust and attention. Creating in-person experiences through social events, such as happy hour, community events or other gatherings lead to the development of trust with likeminded individuals. Social media and and digital technology are important to maintain an open line of communication and provide valuable content resources. Creating real world experiences will always have a greater impact on generating fruitful long lasting relationships.
What have been your experiences with building partner relationships? What has been your success rate from solely soliciting leads? What mistakes do you see realtors making?
Connect w/ Our Guests:
Host, Mortgage Marketing Expert Podcast
VP / Area Manager, Highlands Residential Mortgage
Massive Agent Society 2.0
We recently announced the big changes to our Massive Agent Society real estate lead gen training program that we've been teasing lately. We now offer a $99/month real estate marketing coaching option, with no cap on how many agents or loan officers allowed in each market.
It's better and more value packed than ever! Visit the Massive Agent Society website for all the NEW details on pricing and what's included.
Don't reinvent the wheel! Use our Facebook Ads that have been proven to bring in leads, over and over again. Massive Agent Society members get access to our exclusive copy & paste Facebook Ads database, where real estate agents & loan officers can simply choose the ad and type of lead they want to run, copy, paste, and submit! It takes all the guess work out of Facebook ads for real estate leads, and gives you everything you need to run an ad that has been proven to work.
The Industry Syndicate
The Industry Syndicate is officially LIVE! Industry Syndicate is the real estate industry's first media network. Or as we like to call it “Real Estate's Media Network“. The first-of-its-kind in the entire real estate industry, the Industry Syndicate launches with 25+ shows from over 20 different hosts. Shows for real estate agents, mortgage loan officers, marketing, branding, appraisal, and more.
The Industry Syndicate was co-founded by Jason Frazier, Phil Treadwell, Josh Pitts, and myself.
The next thing you'll see from the Industry Syndicate is our very own mobile app, with each show having their own “real estate” to connect with their community and audience. It will be great for building their community, but also for discovering other great shows that you may enjoy also, and connect with those communities. It's going to be awesome!
Soon, the Industry Syndicate will launch and produce our own original programming and content! Stay tuned
Visit the Industry Syndicate website for more info
And since so many have asked…
Have a question for me that you want answered on the podcast? Submit a question through the Massive Agent chatbot.
Connect with Dustin Brohm:
Massive Agent Society – Don't reinvent the wheel! Our copy & paste, step by step Facebook Ad and lead gen training, coaching, and support program for real estate agents and loan officers. Only ONE agent/lender per market may join!
Residual Income for Real Estate Agents – Why I recently switched to eXp Realty