Real Estate Forums

rgloans · 02-03-2006, 02:54 PM

Hello Business Friends, I'm a loan officer and I'm building marketing marterial to market RE agents, I dont want to be like most loan officers that dont bring anything to the table, please reply to this post with as much information possible so I can help RE agents generate more business.

1. What qualities are you looking for in a Loan Officers and Mortgage Brokers?
2. What leads to you prefer buyers or sellers?
3. How often do you prefer Loan Officers & MortgageBrokers to contact your buyers and agents?
4. What type of marketing material are useful flyers, CD's?
5. How often do you change Loan Officer's & Mortgage broker?
6. What things do you dislike about Loan Officers

thank you so much replying to my post.
Sincerely,
Rgloans

LVH · 02-03-2006, 05:08 PM

Quote:

Originally Posted by rgloans

Hello Business Friends, I'm a loan officer and I'm building marketing marterial to market RE agents, I dont want to be like most loan officers that dont bring anything to the table, please reply to this post with as much information possible so I can help RE agents generate more business.

1. What qualities are you looking for in a Loan Officers and Mortgage Brokers?
2. What leads to you prefer buyers or sellers?
3. How often do you prefer Loan Officers & MortgageBrokers to contact your buyers and agents?
4. What type of marketing material are useful flyers, CD's?
5. How often do you change Loan Officer's & Mortgage broker?
6. What things do you dislike about Loan Officers

thank you so much replying to my post.
Sincerely,
Rgloans

Well first I can tell you this is a good start with what you are doing on the forums. I will also answer your questions and offer you in my opinion what needs to be done. I have a little more knowledge than most agents because I have been on the other side of the tracks. I owned a Mortgage Banking Company at one time.

1. Someone who has good products, is well organized and knows what they are talking about which includes being able to analyze each clients needs.

2. As for leads, we prefer them all, buyers and sellers. This is also a major issues with agents who move from loan officer to loan officer. If we are sending you business, we expect the same. Those agents who stick with their loan officer is because they both send business back and forth to eachother.

3. A loan officer should be contacting the buyer as needed or no longer than every 3 days, even if it is just to give an update. Most buyers dont understand the process and need reassurance to help easy the stress. When both the real estate agent and loan officer keep the clients informed and updated it makes the process easier on the client.

As for how often should the loan officer keep in touch with the agent. I have found that when issues rise dont wait, call the agent and see if both of you can work through this together, instead of being fearful that a problem may cause the agent to take their business elsewhere. If things are running smoothly and update once a week is good, whther this be by phone call or email.

4. This depends on the agent and their marketing scheme. You will find that some agents have bigger budgets than others so flyers make not be part of their marketing plan, but CDs may.

5. We dont change often, as long as the loan officer is doing their job, making our clients happy and has the programs to fit our clients needs we stay with them. The other factor with us for staying with a loan officer is them referring business to us. We have put a few loan officers in nice cars and houses and expect them to supply us with as much real estate business as possible as well.

Remember you have a real estate agent or agents out there driving business to you so in return you should do everything you can to drive business to that agent or agents. I think you will find out if you get with a good real estate agent and you work on bring them in business this also creates a referral for you and them, plus these agents will work just as hard as you trying to get you other business such as refi's.

6. Lets see dislikes..LOL..well one is being unorganized, not keeping us up to date, lying..not telling us the whole truth, cause some of us have been around the block and know more than the loan officer, not working to send us business as we have them, not keeping appointments, misleading or giving the wrong advice to our clients.

These are just some things I can think of at the moment. I am sure I could write a book on this but I dont believe it is needed. Glad I could share some of my insights with you.

rgloans · 02-03-2006, 05:41 PM

Quote:

Originally Posted by LVH

Well first I can tell you this is a good start with what you are doing on the forums. I will also answer your questions and offer you in my opinion what needs to be done. I have a little more knowledge than most agents because I have been on the other side of the tracks. I owned a Mortgage Banking Company at one time.

1. Someone who has good products, is well organized and knows what they are talking about which includes being able to analyze each clients needs.

2. As for leads, we prefer them all, buyers and sellers. This is also a major issues with agents who move from loan officer to loan officer. If we are sending you business, we expect the same. Those agents who stick with their loan officer is because they both send business back and forth to eachother.

3. A loan officer should be contacting the buyer as needed or no longer than every 3 days, even if it is just to give an update. Most buyers dont understand the process and need reassurance to help easy the stress. When both the real estate agent and loan officer keep the clients informed and updated it makes the process easier on the client.

As for how often should the loan officer keep in touch with the agent. I have found that when issues rise dont wait, call the agent and see if both of you can work through this together, instead of being fearful that a problem may cause the agent to take their business elsewhere. If things are running smoothly and update once a week is good, whther this be by phone call or email.

4. This depends on the agent and their marketing scheme. You will find that some agents have bigger budgets than others so flyers make not be part of their marketing plan, but CDs may.

5. We dont change often, as long as the loan officer is doing their job, making our clients happy and has the programs to fit our clients needs we stay with them. The other factor with us for staying with a loan officer is them referring business to us. We have put a few loan officers in nice cars and houses and expect them to supply us with as much real estate business as possible as well.

Remember you have a real estate agent or agents out there driving business to you so in return you should do everything you can to drive business to that agent or agents. I think you will find out if you get with a good real estate agent and you work on bring them in business this also creates a referral for you and them, plus these agents will work just as hard as you trying to get you other business such as refi's.

6. Lets see dislikes..LOL..well one is being unorganized, not keeping us up to date, lying..not telling us the whole truth, cause some of us have been around the block and know more than the loan officer, not working to send us business as we have them, not keeping appointments, misleading or giving the wrong advice to our clients.

These are just some things I can think of at the moment. I am sure I could write a book on this but I dont believe it is needed. Glad I could share some of my insights with you.

Thanks you so much for your information!! you are so honest LOL! I'm going take you're answers seriously and build my marketing around this, thanks once again.

San Diego Homes & Condos · 02-07-2006, 08:36 PM

Well I think that it is great that you care enough to find out what you can do to help agents. That alone is going to make you great. I agree with everything that was just stated. I have a few mortgage guys I work with it seems they are all good at different things so maybe I just need one good one but I have one who is best with first time home buyers, one that is good with conventionals and he is very prompt I like how he always calls me right after he speaks with any of my clients, and the other well I he is very personable with the clients but truthfully I only use him on occasion because he is our in house lender I do not use him really since he takes so much time off. I am supposed to but don't tell anyone. I hate to make my clients wait until he is available three days later.

I work 14 hour days sometimes so loan officers that work m-f 9-5 are useless to me. I need someone who always answers the phone and always their for my clients especially on the weekends.

rgloans · 02-08-2006, 09:29 AM

thanks so much for your information 'm going to keep all this info in mind. I would just like to say not all LO's and MB's are the same, same with agents I think.

Have fun make Money!
rgloans