Ideas are good, plans are better but execution is what differentiates Realtors. The most successful real estate agents identify likeminded mortgage partners and invest time and energy into building those relationships.
When speaking to Phil Treadwell, Host of Mortgage Marketing Expert Podcast and VP/Area Manager of Highlands Residential Mortgage about what he thinks is the biggest mistake mortgage lenders see real estate agents making, his answer was simple; not taking the time to foster quality relationships.
Having a first-class team (agent, lender, title, etc) can lead not only to your clients success but a mutually gratifying experience for all. Understanding how to add value to your clients experience begins with a great introduction to your team, which Phil covers perfectly in the podcast, and identifies 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.
One huge misconception in building great partner relationships between lenders and realtors is the expectation that lenders have to be handing over leads. Value lies in working with lenders that have a high level of trust and their service standard matches yours, regardless of a lead. Thriving businesses are built on quality relationships, not a barter system. Understanding how to generate those trusting relationships is the key to longstanding success.
Phil points out how affective marketing is the balance of trust and attention. Creating an in-person experience through social events, such as happy hour, community events or other gatherings leads to the development of trust with likeminded people. Social media and and digital technology is important to maintain an open line of communication and provide valuable content resources, but creating a real world experience will always have a greater impact on generating fruitful long lasting real estate agent/lender relationships.
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