Technology generates our leads, it helps us stay organized and stay in touch with potential and existing customers. It solves agent pain points.
Loan officers can use that reality to build better relationships with agents, and they should realize that the financial experts who understand the pain points of selling real estate are best set up to become solid partners.
The Need for Simplicity
The life of an agent is one that involves multiple mobile devices, log-ins, places to appeal to homeowners both online and in the community.
That’s why when you approach agents with a cool new piece of technology and promise to change their world, they tune you out. They have enough already.
Lenders who spend time listening to agents talk about where their daily challenges are recognized ways their own processes and technology can simplify the process for the person selling the real estate.
In the real estate business, the person whose face is spread across billboards, postcards and advertising is not necessarily the person making the most money. Agents have to balance the expense of marketing and overhead with the need for exposure and lead generation. Profitability is a giant pain point for real estate agents today.
Lenders can help in a variety of ways beginning with finding out where those agents are making solid deals. They can then work with the agents to shore up areas where money can be made, eliminate what is not working and find new areas of business through referrals.
Increasing Lead Conversions
One of the main topics of conversation among lenders in real estate is how we can get agents to convert more leads into sales.
That’s not a challenge that can be answered directly by anyone from the lending arm of the business, however. It’s dependent on each real estate agent’s methods and practices.
One good step to take is automating your processes, from social media to marketing. Follow up is the key to conversion and technology is one of the best ways to turn that key.
Although real estate agents have had it pounded into their head for the last decade that online leads were the wave of the future and that the internet was the key to mega success in real estate sales, the idea that the web makes it all happen is a bit far fetched.
The internet may be a prominent place to get lead generation going, but the business of real estate has not changed at its core. People want to do business with those they trust and, wherever possible, those they know.
As a lending officer, you can support that reality by encouraging agents to develop. Then, stick by their brands. You can also support that brand as your own.
Use technology and targeted marketing to help your partners grow their brands and reach their audience frequently and easily.
The best partners in real estate are those that have identified ways they are similar to each other in conducting and getting business and have learned to build upon each other’s strengths.