Building good relationships and getting leads through preferred lenders is one of the best ways to create more leverage and value in our businesses. How do we execute the right approach that doesn’t put lenders off? How do we make sure we’re building relationships legally? What questions do we need to ask in order to identify the right partners? On this episode, Jeff Pfitzer shares how we can get lenders to start participating in our lead acquisition with us.
Technology is going to impact real estate commissions and revenue, so creating other streams of revenue is going to be important going into the future. -Jeff Pfitzer
Three Things We Learned From This Episode
- Don’t make the ask too quickly
One of the biggest mistakes agents make is that they ask for help with lead acquisition up front. This won’t work, and will more likely put them off. The approach we should always take is to give value first, then ask and then receive.
- Make sure your network isn’t relying on just one lender
If you’re doing at least 10 transactions a year, you need at least 2 lenders: a national one and a local one. As your business grows, use this formula to determine how many lenders you need - your tier minus 1.
- Relationships and value comes first
If we want lender partners to send us leads, we need to come from the angle of building relationships first. If we give value, build genuine relationships and camaraderie with the lender, it’s a lot easier for them to go for the ask.