New LO first contact questions for Realtor!

[darubio]

What are some initial questions a new LO should ask a Realtor on the initial visit? What should we know when meeting with them to offer our services? And what should we present to the Realtor in order for the Realtor to want to do business with us? Any tips and advise would be greatly appreciated.

[arscherer]

What are some initial questions a new LO should ask a Realtor on the initial visit? What should we know when meeting with them to offer our services? And what should we present to the Realtor in order for the Realtor to want to do business with us? Any tips and advise would be greatly appreciated.

Delma, first of all this is a great question, and is really on the minds of a lot of LO's out there!

To be honest, I don't ask any questions on my initial visit. I introduce myself quickly (30 seconds or less intro), and ask for their business card. The only question that I ask is, "I know you're busy but I would love to follow up with you. Is Wednesday at 2:00 a good time for me to come back"?

This will do a couple of things. It will give the impression that you are busy. It will show that you are organized. It will show that you have respect for their time. When you show up on time, it will show that you are punctual. And when you confirm the meeting the day before, it will show that you are responsible and really do follow through.

Overall, questions that I ask a Realtor over a few meetings include:

Current Loan Officer or Broker they work with
What they like about working with that particular LO/Broker
What they don't like about working with the LO
What hang-ups they have throughout their transactions
What their primary source of business is (referrals or leads)
How the Realtor markets themselves and their listings
The upcoming year's goals, and if they are on track or in position to reach themAll of these questions will allow you to SPIN sell the Realtor on your services, and really allow that first chance at closing a client with you.

I wouldn't bring anything to present in the first two meetings. That is what every other average LO is doing. You want to get to know the Realtor's business, systems, and goals. That will also allow you to see if it will be a fit for how you work. After that 2nd meeting, I would ask if they wanted to see examples of marketing material that I use with other Realtors, etc.

I don't go over loan programs or pricing primarily because this market is so volatile and can change at the drop of a hat. I hope this helps somewhat, and I wish you the best with your ventures!

[benny_g]

Delma,

Andy just gave you some extremely valuable information to digest.
Delma, that is why Andy closes 15 loans a month....;)

I would just like to add a very small point only because Andy did such a great job explaining that.

Delma, in addition to what Andy said. I love to get to know what makes that agent tick, get to know them on a personal basis allow them to start to trust you.