{"id":3015,"date":"2008-04-25T10:31:21","date_gmt":"2008-04-25T17:31:21","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=3015"},"modified":"2008-04-25T10:31:21","modified_gmt":"2008-04-25T17:31:21","slug":"realtors-are-important-to-an-originators-successsort-of","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3015\/realtors-are-important-to-an-originators-successsort-of\/","title":{"rendered":"REALTORS are Important To An Originator’s Success…Sort Of."},"content":{"rendered":"

Loan originators are taught to develop REALTOR relationships. While development of those referral relationships is important, I’ve seen originators waste time and money on unprofitable “partnerships”. This initial article, in my new series about REALTOR marketing, will explore how to quantify the referral relationship to more efficiently understand how to focus your efforts.<\/p>\n

Why prospect REALTORS?<\/p>\n

Well, that’s where the money is, right? REALTORs deal with buyers who need financing for homes. Their clients have means, motive and opportunity to generate fee income within 60 days. What can be expected of such a relationship? If it’s a good relationship, the originator can expect three loans annually, from the average, full-time REALTOR. <\/strong><\/p>\n

Three loans each year. Did you hear that?<\/strong><\/p>\n

Move up REALTORS are perhaps the least productive for an originator to target. Most of their clients show up with a pre-approval letter (or lending relationship) in hand. The REALTOR who overzealously recommends you runs the risk of “steering” accusations. A successful real estate agent, who works this market, is probably closing 15-20 sides annually. Half of them will be listings so there are only 10 loans available to you. Half will have their own financing so you’ve got a shot at five. Throw in a couple of new home purchases and your number drops to three…IF…everything goes well. The expected value of the move-up REALTOR relationship is about $9,000 GCI annually. Assuming a 70% commission split, that number drops to $6,000. Remember that number when asked about “co-op advertising”, Padres tickets, or joint seminars.<\/p>\n

Mega-agent teams can be a great source of loans for you until they get into the mortgage business. The deteriorating profitability, of a full-service brokerage, forces broker-owners and team leaders to explore ancillary services as an alternative income stream. I can’t say that I blame them, either. Control of the customer experience combined with the added revenue make affiliated business agreements attractive to REALTORS who consistently produce. While you may feel that you “hit the motherlode” when you connect with the mega-agent, keep in mind that you’re “security” can be short-lived.<\/p>\n

Where then, can an originator target her referral marketing efforts? <\/strong><\/p>\n

1- Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Loan originators are taught to develop REALTOR relationships. While development of those referral relationships is important, I’ve seen originators waste time and money on unprofitable “partnerships”. This initial article, in my new series about REALTOR marketing, will explore how to quantify the referral relationship to more efficiently understand how to focus your efforts. Why prospect […]<\/p>\n","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,6],"tags":[],"class_list":{"0":"post-3015","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-lending","7":"category-marketing","9":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":810,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/810\/a-realtors-guide-to-alien-lenders-2\/","url_meta":{"origin":3015,"position":0},"title":"A Realtor’s Guide to Alien Lenders","author":"Brian Brady","date":"December 26, 2006","format":false,"excerpt":"\"First you get the money, then you get the power, then you get the ....\" -Tony Montana in the movie, Scarface The professional Realtor has always helped a would be homebuyer by referring her to a credible financing source. That paradigm has shifted much in the past few years as\u2026","rel":"","context":"In "Enduring Interest"","block_context":{"text":"Enduring Interest","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/enduring-interest\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8261,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/8261\/why-dont-realtors-solicit-lenders-for-buyers\/","url_meta":{"origin":3015,"position":1},"title":"Why Don’t REALTORS Solicit Lenders For Buyers?","author":"Brian Brady","date":"May 6, 2009","format":false,"excerpt":"REALTORS constantly solicit banks and mortgage lenders for REO business.\u00a0 Why isn't the producing REALTOR, as a matter of course, soliciting business from loan originators? I posed this question at Unchained Phoenix '09 and you would have thought I asked the REALTORs to walk on coals...at first.\u00a0 A few bright\u2026","rel":"","context":"In "Marketing"","block_context":{"text":"Marketing","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/marketing\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":7179,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/7179\/do-loan-originators-see-the-opportunity\/","url_meta":{"origin":3015,"position":2},"title":"Do Loan Originators “See” The Opportunity?","author":"Brian Brady","date":"February 27, 2009","format":false,"excerpt":"\"If you thought REALTORs were behind the learning curve in Web 2.0, you should see the lenders\" If you're a loan originator, reading this article, congratulations.\u00a0 There are some 300,000 working loan originators today and I'm guessing that about 1% of us are actively using social media.\u00a0 Certainly, the REALTORs\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3164,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3164\/the-unchained-originator-ken-stampe\/","url_meta":{"origin":3015,"position":3},"title":"The Unchained Originator: Ken Stampe","author":"Brian Brady","date":"May 26, 2008","format":false,"excerpt":"I was disappointed with the low turnout of loan originators at UNCHAINED. There were two local originators, who attended our Mesquite library performance, and my buddy Ken Stampe. Ken and I met in 2006, on Active Rain. He was one of the first to sign up for Unchained. His only\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3874,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/3874\/a-proposal-to-improve-mortgage-lending\/","url_meta":{"origin":3015,"position":4},"title":"A Proposal to Improve Mortgage Lending….","author":"Tom Vanderwell","date":"August 13, 2008","format":false,"excerpt":"Since there are a variety of licensing, regulation, education, criminal background check proposals bouncing around in an effort to clean up the mortgage world, I thought I'd throw out my own proposal on how to improve mortgage lending. I'm proposing that as part of the training for becoming a mortgage\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1964,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/1964\/can-the-nar-improve-a-buyers-financing-experience\/","url_meta":{"origin":3015,"position":5},"title":"Can the NAR Improve a Buyer’s Financing Experience?","author":"Brian Brady","date":"September 23, 2007","format":false,"excerpt":"Realtors have to stop complaining about the sorry status of the lending industry. Why? They have the power to make a difference but refuse to take action. I have often heard the Realtors' cry for licensing of loan originators and a plea for lending advisers to adopt a fiduciary capacity\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=3015"}],"version-history":[{"count":0,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/3015\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=3015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=3015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=3015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}