«REFERRALS continued from page 100 • Do their current mortgage brokers or
bank partners come through?
Step by step
Your determination and persistence are
likely to pay off with a secured deal.
At this point, you should provide your
partners with solid commitment and
strong communication. Here are the
steps you should follow after receiving a
purchase agreement.
• On the first day, contact the listing
and selling agents and introduce
yourself. Set the right expectations
in terms of communication and turn
times. In addition, make a point of
expressing how determined you are
to hit the contract date. Order the
appraisal and submit.
• On the second day, send a follow-up
letter to the listing agents. Include a
business card and lay the groundwork for a smooth transaction. This
will help you build a strong relationship for future referrals.
• On the third or fourth day, contact
all parties and communicate conditions needed from the agents. You
may ask for referrals.
likely will appreciate the time you spent
researching.
Hit the streets
Many mortgage brokers and originators
who do high volumes of purchase
business say that their secret is pounding
the streets and buying lunches for
sales meetings. These brokers and
originators are using the strategies that
mortgage professionals used before the
housing crisis hit. If you’ve never hosted
a lunch at a Realtor office, now is the
time to try. Present the office with your
process and the benefits of working
with you. It is a small investment that
can go a long way.
Reaching out to expand your
relationships isn’t necessarily easy, but
no one builds relationships overnight.
Although you may face rejection and
resistance, be prepared to continue to
reach out and reiterate the benefits you
can offer.
Successful mortgage professionals
Once you’ve made contact, seek answers
to questions like:
• What type of buyers do they look for?
