For the next 3 years, the Realtors controlling all of the referrals will be in the top 5%.
They’re entrepreneurs who look at their real estate business… like a business.
They have coaches, attend all the conferences, and nurture their database.
“Adding value” to the top Realtors is a totally different game.
If you want to survive the next 3 years… you need to learn how to market yourself to the Realtors in the top 5%.
What’s wrong with cold calls, happy hours, lunch n’ learns, and marketing emails? Nothing… they just don’t work on the top 5% of Realtors. This isn’t to say that you won’t get a few referrals from the bottom 95% using these strategies. After all, the bottom 95% are willing to do just about anything to close more deals.
But, the top Realtors are different.
They don’t sit around waiting for a Loan Officer to call them and teach them how to get more out of their database. They aren’t going out to lunch with random LOs. And, they certainly aren’t signing up for your free classes. They’re entrepreneurs who have business coaches (many of them have multiple coaches). If they need something, they go find it.
To them, a “valuable” Loan Officer isn’t the one who’s always spamming them with mortgage tips. They choose the LO who they like most and feel the most aligned with. This is how all entrepreneurs decide who they partner with. It has nothing to do with the emails you send them. They choose the person… not your marketing tactics.
So, this begs the question…
If you can’t market to the top 5% of Realtors using the traditional LO marketing strategies…
What do you do?
The answer… Don’t market to them.
(At least not in the traditional sense of the word).
Before the top Realtors will even consider the option of partnering with you, they want to know who you are. Lucky for you, personal branding is easier now than ever before. With a direct outreach strategy, you can place your personal brand in front of any realtor you choose. If you’ve branded yourself well, you will be on their radar. Repeat this process and they will soon know everything about you.
Marketing is NOT talking about mortgages and educating your referral partners. Honestly, the top 5% of Realtors could care less.
In Mortgage, marketing is the act of getting people to see your personal brand.
An effective personal brand will bring in loans consistently because you’re always top of mind. It will create relationships with referral partners before you have ever met them. It will generate leads even on days you’re not working.
Does your personal brand articulate your unique abilities and what you’re passionate about?
Does it authentically show people who you are and what you’re working towards?
If not… what does it show people?
Most Loan Officers are marketing an average personal brand. They look like… a Loan Officer.
Is that enough to win the referrals of the Realtors in the top 5%?
This market has shifted. What was once valuable… is no longer valuable. Your personal brand is the only thing that differentiates you from the other Loan Officers in your market.
Loan Officers need to make sure that their personal brand accurately reflects who they are.
If not, you probably look like everyone else.