From the days I started as an originator in 2002 I always sought to break the mold with reaching new realtors and becoming a well established and trusted mortgage professional. Like many of you in the mortgage industry I found that most of the well established realtors in my city already had people they worked with. Most just wouldn't trust me since I was new.
I had already been in the customer service world for 7 years so instead of recreating the wheel I decided to use my skill set that I had already developed over the years.
TRUST: My goal when I talked with realtors was not to speak solely about my skills and loan products, but only this. "Trust me once and I am confident you'll trust me for life". See anyone can take a realtor out to dinner, send them donuts, show up at an open house with flyers. Anyone. 
But I'm not just anyone. I'm a mortgage professional and I make this guarantee with all my realtors.
GOING THE EXTRA MILE: Loan officers in my experience often miss incredible opportunities to wow their realtors. Realtors often work weekends, late nights, and take calls at all hours of the night. Why are we any different?
When I was in management I would often have my LO's complain that they wanted to have their life and their 9-5 was all they wanted to invest. Does a doctor or lawyer put in a few hours a day and earn a six figure salary just starting off? If so they will quickly find themselves in the unemployment line.
This is a career not a job. Your goal should be to serve your realtors so much so that they don't even question your ability, knowledge and expertise. 
I also give my realtors signed guarantees for their loans. A dated closing guarantee (e.g. 20 Day Closing Guarantee), a preclosing guarantee (discuss all the terms of the loan prior to closing with the client), and my commitment in writing to communicating with them at least daily, in any format they choose, regarding the status of their deals.
THE LITTLE THINGS: Call your realtors, when you've done that call them some more. Don't bug them and interrupt their business, but get to know them. Develop relationships for life. So many times I have LO's who complained to me that their realtors found another lender and didn't know why. I'll often ask, "Was your realtor married? Did he or she have children? What did they do in the free time?" It amazes me how much they didn't know.
Write them a handwritten letter and a thank you. You shouldn't need to take your realtors to the nicest restaurant in town to wow them.
PROVE YOUR WORTH: Actions speak louder than words. Never overpromise, and always deliver even if it means coming in on a weekend or staying late. This is your business, take pride in it and never allow yourself to lose the respect of the professional that keeps you afloat. 
Don't be afraid to say NO. Too many loan officers are telling realtors what they want to hear and it ends up destroying that relationship completely. If you can't do the loan or suspect it will be difficult, talk to the realtor and explain the matter. They will appreciate it a lot more, and will respect your candor. It is better to lose ONE loan than an entire realtor.
JOINT MARKETING: Realtors are already spending tons of their own money to get their names out there. Find ways to bring your realtors into your marketing schemes and include them. I host a radio show here in town where I will plug my realtors and their level of expertise. Even if it doesn't turn into a lead for them, they often appreciate me just mentioning them. But even on smaller levels, mailers, flyers, recipe cards. Be creative, find a way to include your Realtor and they'll love you for it!
Value your realtors like you do your family. Most of my realtors agree that all they have ever wanted is honest communication, consistent follow through, and good customer service. Write those down and read them outloud to yourself daily and live by them, you'll not only improve your relationship with your existing realtors, but you'll likely have new ones asking for your service.
Now pick up the phone and call your Realtors!
Your Personal Mortgage Planner. 100% Financing, VA, FHA, Construction, Lot loans. In the heart of North Scottsdale. Call today (602) 501-7383. Work nights and weekends.
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Realtors and Mortgage Professionals are a dynamic partnership
In essence they are one of your best clients
Eddy
Jacob, very well put together. Good working relationships between realtors and lenders is not rocket science. Thanks!
Jacob... as Eddy & Rich said, great job... great job of putting it all together. And yes, it is not hard to figure out, which confuses so many of us why things don't go as planned at times. Greed?
In any case, relationships in this business...very key. And I like the added part that you mentioned, that this is not a job, but a career. Many of us take it personally, serious, and are passionate about it.
On another note.... CONGRATS on your 1st featured post....
Thanks guys. I appreciate the kind words very much. My third day, not too shabby. :)
Yah none of this is new by any means but for whatever reason there aren't a lot of people who do it as well as they should. At the very least it is a reminder for all of us, and mostly to reiterate to our realtors that we truly do value them as #1.
I agree with all of these. I think the Trust is the bigges. it goes both ays and I always trust first. I do not need people to earn it. I think it says something about people when you need to earn it. Thanks for the post.
Trust is HUGE! I especially like what you said about getting to know each other too. Great post!
Excellent points! Realtors and LO utimately have the same goal, to give top service to their client and close the deal. I think it is great when both can work closely together to make a deal happen.
I have to agree with Links comment, the relationship has to be mutual and harmonious! Let's not forget how important the title and escrow relationship is in all these transactions either... LOL ...no too loud. :-)
Brad: I can't agree more. The most perfect relationship between an LO and an Agent can be completely ruined by a title company that isn't on top of things. I am so glad we have so many of you incredible escrow officers out there. If not for you we would be lost :)
Ya know - this street runs both directions. It's good to see you doing the same things that a realtor should be doing to enlist your help.
Jacob- You make some good points here. The top reason I use my lender is COMMUNICATION. It has nothing to do with dinners, gifts, wine, trips, doggie treats or anything else they could offer. It is their desire to listen, to myself and my client and find a product that works best for our customer. They also have a similar work ethic to mine which often includes late nights, weekends and a lot of footwork. As a broker, that's important to me. Good post : )
all points to live by in our Mortgage Industry!
You have hit it right on the head. We just did a seminar with one of our loyal lenders -- it was a win/win for both the lender and for our firm! It is all about building relationships, service and supporting each other. Everyone has competititive rates -- so what makes one lender shine is the relationships they have built with the Realtor.
Jacob,
Great Post! I wish that many more had your insight and willingness to develop stronger and more productive working relationships. There are several missed opportunities on both sides.
Jacob - Excellent post. I found myself nodding in agreement with you. We approach our businesses in a very similar manner. It is amazing how powerful a well matched Realtor Mortgage partnership can work to provide value for the client and leverage the success of both businesses.
Excellent post!
James
I love this post! We should be working together because we both share the same goal. I wish more people would work together like this!
Ditto what James H says. With a well matched pair, both people look better because of their partner. It's very powerful.
I agree wholeheartadly. I love that Realtors are grasping the concept of valuing the relationship with a great mortgage lender. Obviously, there are always lenders out there begging for business with nothing to offer, but a lender that acts as an extension of their realtor partner is a key component of most top producing realtors. They are not a "necessary evil", as many realtors view the relationship...in actuality, they can add tremendous amounts of value during the process and for years and years thereafter.
OK Boys and Girls I am going to spill the secret as to how to get new Realtors and keep them.
Here is how I build an iron cage around Realtors.
1. I take a picture of one of their listings
2. I create a greeting card using picture plus and use it as the cover of the greeting card.
3. Inside the card I put a picture of myself and of my business card on one side
4. On the other-side of the card I put the following message:
Dear Realtor Name This greeting card features one of your listings. I would like to show you how to do the following things. 1. Market your listings more effectively 2. Establish personal relationships with your contacts and previous customers 3. Show you how to build a strong referral base so clients come to you instead of you looking for them. 4. Show you how to farm more effectively 5. Show you how to do this at no cost to you.
Call when you receive this to set up an interview to see if you qualify for this incredible opportunity .
I mail 10 of these cards a week and stop when I get 5 agents to join my program. Once I get 5 Realtors trained on the system I turn them over to a Jr. Lo on my team for followup and then work on the next 5.
The last mortgage company I built had myself and 48 Jr. Loan officers.
I retired and sold my company and now teach loan officers how to implement and use this system effectively.
Here is where you can get the system www.sendoutcards.com/15166
Order the Entprenuer package with auto-ship. This gives you the lowest cost per card. The setup fee is a one time fee of $398 and $35. to keep it active per year. I usually start with $25 in postage. You get 200 points with the order which is about 60 picture plus cards. You should get 5 new Realtors easily with this. Make sure to sign up for auto-ship. The points are .31 cents instead of .49 cents each so you will save a lot of money. The points don't expire so don't worry about losing any.
After you sign up you can begin the campaign. I will teach you how to use the software and the marketing strategies so you can teach it to your Realtors. The idea is to have them do the work but you supply the system. They buy their own cards and postage so you don't have a RESPA problem. You simply set up a gift account with enough card points and postage for 2 picture plus cards. A total of 6 points and .78 cents for postage. I show them how to create a couple of actual cards. Believe me when they use this system to send just two cards they are hooked! Have them send a card to their husband, child, wife or significant other. This way they get to see how powerful this card thing is.
Once they use the gift account money up they then buy their own supply of card points and postage.
Here is how they get their cards and postage free. They contact their title agents, home inspectors, insurance agents, appraisers etc. and have them use their credit cards to buy a supply of card points and postage for the agent. This makes it very inexpensive for their business partners to support the Realtors marketing efforts and of course the Realtor will refer all business to those that support their marketing efforts.
Realtors are locked into your iron cage because you own the system and if they go somewhere else you take their system away along with all their contact data.
You need the Entrepreneur level so you can sponsor other mortgage agents in your organization as well as insurance, title and others to use the same system. You get paid on each training session you do and earn a residual income on each card sent. Sponsor and train 3 others and get your system paid for totally. I made each of my Jr. Lo's buy their own Entrepreneur system.
Some Realtors may balk and want their own system. So sell them the Entrepreneur system as well and have them make their business partners buy an Entrepreneur system so they get theirs for free. You get paid to train them, which makes you valuable, and you get paid for each card they send! You get paid for the cards their partner sends. You keep showing them new marketing ideas and you will earn their business.
By following my system you get more Realtor referrals, you earn income from other sources so your marketing is free! Do yourself a favor. If you don't see the power in this system ,find a job because your just not going to make it very long.
I know this is a lot of information but all of the other ideas have been tried for years. They don't work. You all have the same products, the same great service, great processing, and underwriting. Big deal. Do you have a way to make yourself more valuable than your competition other than doing illegal things and selling you soul for a couple of bucks?
I recently tried an experiment. I sent 1500 emails inviting RE agents to join active rain. 5 joined. 5 complained I was spamming them.
I sent out 10 greeting cards and got 5 sign-ups to active rain. Why should I get them into Active Rain? Simple, it helps build a relationship because they got something valuable from me for free.
You have to bring value to your Realtors in order to get referrals back. You have to become a teacher in order for them to respect you and your abilities. Make them successful and you ride right along.
If you want to know more about how to use the system give me a call at 334-803-0233 central time or keep doing what your doing and starving for leads. Up to you.
Tom Osbeck
mailto:tosbeck52@hotmail.com
Personal Relationship Marketing Mentor
PS Some of you complained you need a specific answer. Is this one specific enough?