What The Real Estate Agent Wants
BATTLECALL GUEST EXPERT: Walter Sanford, National Real Estate Trainer
Nope. I never did. As a realtor, 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, fifteen, seventeen, or twenty-one days. And most of all, I never cared about the gimmicks you used to acquire my business. The only thing that I ever cared about as a top producing real estate agent was impacting my net bottom line and impacting my clients' lives.
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 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 giants would like to tread. It has been proposed that giants 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.
This is convenient for clients, but 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 will rise above the Wal-Mart type services offered by the technology giants. They will use their intimate knowledge of the neighborhoods, to create relationships bringing repeat and return business.
It is the top real estate that understands this concept, 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, we are finding that the agents who 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 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. Then I'll walk you through a complete personal presentation that will blow their socks off! Following up with consistent idea of giving and team partnering 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. He has the first opportunity to impact the direction of the transaction. 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 customized, personal, interactive 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 that 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 a demand for personal services from you in the areas of client communication, lead generation, follow-up, data-base management, and people skills. These skills are 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. 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 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. 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 affect 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 for my day-to-day business. This means understanding my business. If you were selling copiers to a pharmaceutical company, you would pore 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.
Walter Sanford was one of the top real estate agents in North America for nearly thirty years, and now, he is one of the most requested speakers, trainers, and coaches. He has authored twelve systems and books on checklists, pro-active lead generation, affiliate lead generation, plus others mentioned in this article. You can hire Walter or buy his products by visiting his website for more details at waltersanford.com.
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