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Ep. 22 - How Mortgage Pro's Secure Great Referral Partners

By Frank Klesitz on Jun 17, 2017

  

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#VyralMarketingShow – Episode 22

 

What you’ll learn on the show this week: 

If you’re a loan officer or a mortgage professional, there is a strategy you can use to land top real estate agents as referral partners. As we know from previous episodes, if you’re a service provider and you want other service providers to work with you, you have to show them the value of working with you.

The question of how mortgage professionals can land top real estate agents as referral partners was sent to us from a mortgage professional based out of Phoenix. This mortgage professional, who’ll we’ll call “Bob,” had been using an email newsletter for a decade to try to connect with Realtors in his area and elicit referrals without any luck. He wanted to know if a good video strategy might be the content he was lacking to establish a meaningful enough relationship with these Realtors to start getting him referrals.  

Mortgage professionals interested in getting involved with Vyral Marketing typically take a wide approach to marketing to real estate agents because most of their business comes from real estate agents. Great mortgage professionals, however, usually have relationships with only a handful of real estate professionals that consistently send them one or two deals a month.

Bob did a wonderful job building his list of real estate professionals, but he didn’t do a good job as far as following up with those people. His goal was to go from 10 mortgage deals a month to 20, and we showed him how to do this by changing the strategy of his video blog.  

This new strategy involved narrowing his focus and establishing a relationship with the agents who did enough business to help him reach his goal of doubling his number of deals. By his math, all he would need is five agents that consistently did about two deals a month. According to him, there were about 100 of these agents in the Phoenix area.

We advised him to expand his message from something reserved for mortgage professionals and real estate agents to a local community real estate blog in which he would interview local agents who could provide useful tips and information about real estate. As he reached out to these 100 agents, he could ask them to be a guest on his show and send those segments out to his whole database—not just Realtors.

By providing information to the whole community, he’s helping these Realtors with their marketing, and that’s what a real estate professional needs. With the broader audience he’s cultivating, it may well get to the point where people contact him to buy or sell a home and he can actually bring buyers and sellers to the agents.

If you’re a mortgage professional, be the host of your own local real estate magazine and start interviewing agents. It secures your appointment with them and you can add value to their marketing. Your blog will start generating information and you can bring business to those real estate professionals. That’s what will get you to your ultimate goal of getting the top agents as your referral partners.

Frank Klesitz

Written by Frank Klesitz

Frank Klesitz is the CEO and co-founder of Vyral Marketing

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