FAQ  |  Search  |  Memberlist  |  Usergroups   |  Register  |  Profile  |  Log in to check your private messages  |  Log in 

 Realtors or Leads, that is the question!! View next topic
View previous topic



Post new topicReply to topic
Poll :: Realtors or Leads, that is the question!

Realtors (Referral Business)
100%
 100%  [ 1 ]
Purchase Leads
0%
 0%  [ 0 ]
Total Votes : 1


Author Message
Flpmtg1965
Dyn-o-mite!


Joined: 16 Oct 2007
Posts: 273
Location: Tampa, FL

Realtors or Leads, that is the question!!
PostPosted: Fri Apr 10, 2009 1:22 am Reply with quoteBack to top

Ok, I am having a major disagreement with the other broker in our office. I believe the best way to build business now is by seeking Realtors & building the referral base. My thinking is that if you are crediable & know your business...Realtors will listen.

My partner wants to buy a bunch of leads & work those with a couple new brokers. He feels if he buys enough leads a month they will generate business & the purchase leads he does qualify will allow him to have something to offer a Realtor when trying to establish a relationship.

We are in Florida so we are staying away from refi leads...everyone is underwater more than Obama's plan will help.

What is the opinion of the masses?
View user's profileSend private message
splat
Dud?


Joined: 08 Apr 2009
Posts: 15
Location: California

Re: Realtors or Leads, that is the question!!
PostPosted: Fri Apr 10, 2009 2:00 am Reply with quoteBack to top

I like your idea better.
1. It doesn't (or at least shouldn't) cost as much to network with Realtors.
2. If used properly a Realtor can be your biggest cheerleader.
3. Having an inside contact (ie. realtor) is good to have cause with buyers they get overwhelmed and are constantly bombarded with people who don't know poo poo advising them of this & that and as a team you & the realtor can make sure the client is focused on your expertise and what you are offering.
4. How concrete are leads for buyers? Because someone looked on the internet at some houses & wondered what the payments would be make a a actual lead? At least if they have an agent they are a little more serious about buying.

I'm in Cali and spending money on leads is not worth its investment. Qualifying a buyer is specific to each individual more than ever now and some general questions like are you breathing, do you want to own instead rent, etc... isn't going to cut it. Buyers are cautious and everyone knows someone who is or was in this line of work. Why go to a complete stranger when they can ask people for referrals. And what better referral to have than a realtor. They only get paid if you close the deal so let them bring the deals to the table.

Just my opinion.
View user's profileSend private message
cololoanjoe
Dud?


Joined: 10 Apr 2009
Posts: 1

Re: Realtors or Leads, that is the question!!
PostPosted: Fri Apr 10, 2009 3:25 am Reply with quoteBack to top

Realtors are my best source of business by far.

I do buy live transfer leads and have had some success with them.

But, I could spend $500-$1000 a month on leads and still not get the business I currently have referred to me be just one of my Realtors.

I did get one of my relationships from referring a lead I bought. I can see the other Lo's opinions about that. Nothing will get you in the door like a slam dunk 6k check for a Realtor.
View user's profileSend private message
cedubu
Dud?


Joined: 16 Feb 2009
Posts: 22

Re: Realtors or Leads, that is the question!!
PostPosted: Mon Apr 13, 2009 6:57 pm Reply with quoteBack to top

Realtors are so notorious for jumping from broker to broker. There is no loyalty in that business. You would be better off looking for a niche program such as new construction, re-location companies, investment properties, etc... than you would be fighting the masses for an FHA deal that may or may not close.
View user's profileSend private message
mmorelli
Dud?


Joined: 07 May 2009
Posts: 3
Location: Los Angeles, CA

Re: Realtors or Leads, that is the question!!
PostPosted: Thu May 07, 2009 8:43 pm Reply with quoteBack to top

You can't count on Realtors to supply you with any consistency. Well, maybe you can, but that only goes for less than 1% of the loan officers out there.

Get one or two good lead providers, get a good lead management system in place, and create a sales machine. The lead management system is the engine, the leads are the fuel, and your loan officers drive the thing. Shops that create this kind of sales machine absolutely surpass those who make their loan officers rely on Realtor business. It's all about understanding the science behind how to work a lead. Too many people do not, which is why they fail, and try to find something else. Leads are the only thing that offer long term reliability and scalability, if you understand them and work them right.

_________________
Matt Morelli
800-949-2919 x112
matt@zipsearch.com
View user's profileSend private messageVisit poster's websiteAIM AddressYahoo Messenger
syd
Dyn-o-mite!


Joined: 15 Jul 2008
Posts: 244

Re: Realtors or Leads, that is the question!!
PostPosted: Fri May 08, 2009 3:59 am Reply with quoteBack to top

Again as I posted on the other post please let us know how to close the leads. Really is hard to close a loan or whatever it is off bad internet leads that have been sold 9 thousand times. I do agree with you! Get a good management system, spend money on leads, and have the beasts on the phones selling them. Problem is LO's cant sell deals when the clients don't answer the phones, or have been called 10 times in five minutes. Matter of fact don't even remember filling out a form. I mean really get some better apps. A mortgage lead is not someone who filled out an application to win a free ipod. Bad leads equal wasted time, wasted money, and a lead vendor getting... You know the rest. All these guys seem to be the same. Same pitch, same BS. Sell some QUALITY LEADS GUYS. I will be the first if I need help I would ask, but I have all the phone skills and a very good staff, can't make money with c**p!!! Give us a chance, earn your money rather than stealing it. Most of you vendors are no better than all of the Loan Modification experts who were floating around a few months ago. STOP STOP STOP. A couple years back they had shirts made in all the hoods that said STOP SNITCHING. Well I am going to start a new campaign STOP SELLING GARBAGE!!! BTW keep up the good work Raymond... A vendor who really earns his business. Take a lesson from him.
View user's profileSend private message
Raymond B
Marketing Guru


Joined: 04 Jan 2008
Posts: 174
Location: Nevada

Re: Realtors or Leads, that is the question!!
PostPosted: Mon May 18, 2009 1:41 pm Reply with quoteBack to top

I think both is a good way to build your business, let one feed the other. Sure getting Realtors is good but increasing your business by getting leads to help you network with Realtors makes you so much more attractive. Think about it from a Realtor's perspective...they get solicited by many Loan Officers and brokers to get their business. Many of them promise they can fund quickly, know the business and all the buyer programs, etc.......it all sounds the same to them...But if you are actually bringing something to the table in way of actual business imagine how much more attractive you look to a good group of Realtors..

Remember if you build solid relationship with aggressive Realtors you should be set up nicely.....they just want the same thing from their lending source, aggressiveness and willingness to give a little to get a lot.



Flpmtg1965 wrote:
Ok, I am having a major disagreement with the other broker in our office. I believe the best way to build business now is by seeking Realtors & building the referral base. My thinking is that if you are crediable & know your business...Realtors will listen.

My partner wants to buy a bunch of leads & work those with a couple new brokers. He feels if he buys enough leads a month they will generate business & the purchase leads he does qualify will allow him to have something to offer a Realtor when trying to establish a relationship.

We are in Florida so we are staying away from refi leads...everyone is underwater more than Obama's plan will help.

What is the opinion of the masses?

_________________
Image
View user's profileSend private messageSend e-mailVisit poster's websiteAIM AddressYahoo Messenger
Display posts from previous:      
Post new topicReply to topic


 Jump to:   


Merge topics 

View next topic
View previous topic
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum




Powered by phpBB 2.0.22-2 (Debian) © 2001, 2002 phpBB Group :: FI Theme :: All times are GMT