Marketing To Realtors By Changing Perceptions Of Loan Officers
How many times have you tried to schedule an appointment with a realtor and here Im already working with a loan officer? Its frustrating to get brushed off when marketing to agents, especially when you know that there is a huge difference between your services and other loan officers.
Your challenge is to change the perceptions of these agents. They need to realize that not all loan officers are created equally, and just because they are currently working with someone, they could have vastly improved service.
If you want to make the first step in changing their perceptions while marketing to agents, you must start by taking a look at your own perception of your service. Most loan officers identify themselves with the same characteristics of their competition. To be successful, you need to identify the things about you that are unique. In other words, you need to develop your competitive advantage.
First, begin with an analysis of your approach to business. What are your strengths and weaknesses as a loan originator? Think about your point of view, and explore how you may be perceived by agents you work with. Dont underplay your strengths with modesty, and dont be afraid to shine the spotlight on some areas that need improvement.
Think about your strengths in terms of how you compare to your competition. Many loan officers automatically think in terms of on time closings as a unique advantage. Lets face it, there are lots of loan officers that are providing on time closing; this isnt an advantage, its simply a fact of doing business in todays market.
For some loan originators, their strength is they type of loan or type of borrower. If you work with a particular client niche, you are developing a strength within that niche. You need to work with agents that specialize in that cater to this type of client.
Understanding your weaknesses gives you an opportunity to work on these potential threats against your competition. For instance, if you know that you need to provide better contact with your database, thats a goal you can set for yourself in the upcoming year. By identifying your weaknesses and being proactive to correct them, you eliminate potential marketplace threats.
Another element to consider is the environment around you. What are some of the unique opportunities or threats that you can not control but may be happening around you? For instance, has a market slow down resulted in less first time home buyers? With the right program, this could be a wonderful opportunity. You could find first time buyers to provide leads and referrals to agents.
Take a look at your strengths again. Do any of your strengths lend themselves to become opportunities? What about threats what do you need to do to make sure that you dont find yourself edged out of the industry?
Hopefully, this exercise bring clarity and focus to how you can position yourself when marketing to agents. Too many loan officers dont take the time to do a length analysis and identify the needs of the marketplace. When you do this analysis, you identify how you can uniquely position yourself and develop a unique position against your competition.
Your unique position differentiates your from your competition and it should become the focus of your marketing. Stop focusing on how you are the same as all the other loan officers. Instead, build your marketing materials around your unique position and show realtors how you can help them solve problems with your unique skills.
Jeff Nelson helps loan officers increase loan originations by attracting quality relationships with real estate agents from the development of customized relationship-building strategies.
Click here to get a free copy of the Marketing Planning Guide, a 20-page workbook designed to help you outline a strategy to become an Agent Magnet.
Visit us at http://www.loan-officer-marketing.com
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