REALATIONSHIP SELLING STRATEGIES
Your career growth in the mortgage industry depends largely on your ability to build strong, continuing relationships with top quality sources of business, the Realtors, affinity groups, past clients and sphere of influence contacts. Additionally, a professional mortgage originator must know how to:
- Get business from a prospect who is currently committed to working with another loan officer
- Help prospects reach their full potential and accomplish their specific goals
- Constantly upgrade his or her clientele
So how do you attract the attention of these top quality sources of business and overcome their commitment to another loan officer? How do you combat the closed door policy at real estate offices and their indifference in wanting to see you?
The bottom line is that when two individuals want to work together, details won’t stand in the way. The key is to building a relationship where they will not only want to work with you, but seek you out.
Let’s use Realtors as an example. Too often loan officers make frequent sales calls in an effort simply to be visible… hoping to get lucky and be in the right place at the right time and catch a realtor outside the closed door. If and when they do get face-time with an agent, they do an information dump of programs, pricing and company competencies. In other words, they act like a sales person, instead of a sales partner.
To be competent at relationship-selling, loan officers must put the highest value needs of the Realtor in order of priority. They must then decide how to present a solution for these needs. The days of stuffing rate flyers in mailboxes, delivering cookies and bagels and showering agents with themed gift campaigns are a thing of the past. Getting noticed and getting business are two different things. You can only accomplish both by bringing true value to the table by taking these three simple steps:
#1 Define your prospective Realtor’s primary needs and goals: Get more clients = Sell more properties = Make more $
#2 Determine solution strategies to help meet those needs and goals: More buyers + more listings + quicker sales + higher sales prices = More $
#3 Deliver pertinent information efficiently and effectively: Pre-approach marketing campaign + solution-specific seminars and newsletters
The last ingredient to this success formula is crucial to the overall effectiveness of the plan, plus, it makes the relationship selling process much more enjoyable:
Establish alliances with those who share the same choice client as you
The alliance strategy comes to life when a cross-functional group is created to service the needs of a common prospect. You will not only reach more prospects by joining forces with an alliance partner who also calls on Realtors, but you will be providing them with a more diversified and higher level of service.
There is a wide variety of service providers that call on Realtors: Professional Home Stagers, Professional Organizers, Virtual Tour Photographers, Database Marketing Companies, Home Inspectors, Appraisers, Title Companies and Moving Companies… and more.
Remember, no matter how committed Realtors are to another loan officer, you can win them over with professionalism and by distinguishing yourself as a valuable resource and creative problem solver.
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