And you have more tools at your disposal than ever to win over realtor partners. Between digital, print, and social media marketing tools, loan officers have more ways than ever to provide value. However, you need a strategy. You can’t effectively win over referral partners if you don’t show them why they should trust you as their recommended loan officer.
So, how do you leverage your marketing tools to prove your value to realtors?
- Identify Their Pain
- Brainstorm A Solution
- Pitch Your Value
- Stay Consistent and Build Trust
- Leverage Tools to Streamline Your Marketing to Realtors
Identify Their Pain
One of the best ways that you can offer value to realtor partners is to recognize their pain points. After all, if you want to truly serve your partners, you need to learn what they need. For instance, if you have a realtor partner who struggles to find the time to leverage digital marketing, it wouldn’t be very helpful for you to offer to help them with a snail mail campaign.
One way to identify how you can best help before you start marketing to realtors is to just talk with them. Basic, we know. But, by sitting down and having a human conversation about their goals and struggles, you’ll learn so much. You may be surprised by some of their pain points, and others may be extremely relatable. You both might have difficulties generating fresh leads, or scheduling your day efficiently. It’s important to notice that every one of your realtor partners will face slightly different challenges, depending on their market, personality, and business style.
Brainstorm a Solution
Now that you’ve identified your realtor partner’s specific pain points, it’s time to brainstorm how you can help. Some partners might tell you directly, but you may not always be so lucky. For the less obvious solutions, consider what it would take to truly ease the burden that this particular challenge places on your partner.
Because of this, coming up with a game plan is critical before marketing to realtors. For instance, in the example above, if your referral partner isn’t fully utilizing digital marketing, think about how you can fill in this gap with the tools available to you (more on that in a bit). Then, map out the difference that this strategy would have on their workflow and business. Can you save them time, earn them more leads, or help them market themselves better? If the answer is yes, then you’re well on your way to earning referrals.
Pitch Your Value
So, you have a game plan, now what? It’s time for the fun part, pitching your value to your potential or current partners. The best option would be to set up a face-to-face meeting with the realtor, however, a phone call is also an option.
When you ask them to meet, make it clear what you want.
You could say something like this:
“I wanted to sit down with you to chat about ways that I believe that our partnership could save you time and make you more money. After our discussion about [insert specific pain point here], I thought about ways that I could help you. Would you have time in the next week to go over these marketing tools? I look forward to it!”
When you meet with them, focus on their needs and pain. Even though you both know that your goal is to earn their referrals, you don’t need to lead with that. Showcase specific ways that you can help them, and listen to their feedback.
Stay Consistent and Build Trust
Once you’ve earned referrals from realtors, it’s critical to stay focused. Don’t let yourself get lazy and stop marketing to realtors. Instead, stay consistent in your marketing to realtors and prove your value over time.
There are many ways to do this, but top producers say that consistent communication is the best way. When a realtor refers a client to you, make sure that you update your partner at every step of the loan process. This can be a time consuming process, but there are tools to help streamline your tasks. And, your referral partners will appreciate knowing the status of their clients’ mortgages at all times. After all, the faster you’re able to close their loans, the quicker they will be able to get their clients into a home.
Leverage Tools to Streamline Your Marketing to Realtors
If all of this feels overwhelming, don’t worry! Marketing to realtors is a critical part of your lead generation process, however, it doesn’t need to suck all the time out of your day. Instead, find tools to help you market better, in less time.
Automated Loan Status Updates
We’ve already discussed the importance of consistent communication throughout the loan process. But, we didn’t address the elephant in the room: how much time it takes to update every single borrower and partner at every step of the loan process.
Luckily, you can set automated loan status update texts and emails from a CRM like Jungo. This means that when a borrower’s application status changes, Jungo will automatically trigger and send a pre-formatted SMS and email update to your client and any professional partners you’d like.
One less loan update for you, multiplied by every step in the loan process, multiplied again by all of your borrowers and referral partners. Now that’s some efficiency math we can get behind.
Regular Pipeline Updates
In the same way, sending summaries of the loans in your pipeline that a partner has referred to you is also a critical step to ultra successful marketing to realtors.
Reffinity, a part of Jungo’s Mortgage CRM, is one such solution. This unique Jungo feature was created specifically for our mortgage clients to stay connected to their referral partners. You’ll be able to keep your referral partners up-to-date by sending automated pipeline reports.
You can customize what these pipeline reports look like, and how often your partners will receive them. You can even automate the emails to send the most recent information to your referral partners every week for up to five years! In addition, with Reffinity, you can easily track which referral relationships are bringing in the most closed loans.
Single Listing Property Websites
When it comes to digital marketing to realtors, there are many creative and valuable options available to you. Single property websites are an excellent way to give your referral partners valuable marketing materials. Plus, you’ll gain exposure to potential borrowers since every listing website is co-branded with your and your partner’s headshots and contact information.
The Property Listing by Jungo makes creating an MLS integrated, co-branded website easy. You can design a beautiful single listing property website for your realtor partner in just minutes. They will be blown away by the site’s lead capture and elegant design, and you’ll save them time and money in their digital marketing.
Co-Branded Print Marketing Materials
Despite the rise in digital marketing tools, printed promotional materials are not dead! PrintPub, a tool in Jungo, allows you to easily create elegant co-marketing promotional materials. The real estate flyer creator automatically resizes photos and text to fit perfectly–no more struggling with flyer formatting.
Plus, you can instantly sync MLS data into your co-marketed flyers. This means that you no longer have to manually type information into the templates or upload images. Just enter the MLS number into the real estate flyer editor and select the information you’d like to use for the flyer. You can then download your beautiful flyer and print it at home or professionally, or send it directly to your realtor partner.
Marketing to realtors is a valuable business generating strategy. Ensuring that you’re focusing on your partners’ needs and bringing them value, will help you become a truly invaluable asset to their business. Additionally, leveraging marketing assets will help you earn and keep new partners.