COACH'S CORNER By Victoria (Del Frate) Fifield
If you've recently sat down with a Realtor over coffee or perhaps exchanged business cards with several Realtors you met at a Chamber function or popped into some Open Houses, you may be
wondering what to do next to stay in front of these
Realtors in order to grow these relationships.
Well, if you're not wondering, YOU SHOULD BE!
Getting in front of a potential Realtor partner just
one time, no matter how charismatic you are or how
much value you believe you brought to the meeting, is
not going to get you to the ultimate goal of establishing a long-term, referral partnership.
In fact, if you’re going to go through all the work
of meeting with Realtors face to face, BUT you aren’t
willing to invest the time and follow-up work necessary to effectively grow those relationships, then don’t
bother with the first step.
That may sound a bit harsh, but the fact is that
a significant amount of time is wasted by Mortgage
Professionals who take this, “punch-n-run” approach
to their relationship-building efforts and then bitterly
complain about how they aren’t getting any leads.
Simply put, a single meeting DOES NOT a referral
So exactly how much time and effort should one
expect to expend when building their mortgage business via Realtor relationship cultivation?
In order to successfully cultivate your new relationships and ultimately gain leads from your target
Realtors, you must first embrace two very important
The first habit is to ensure that ALL Realtors you
meet, whether via sponsoring Broker Opens, attending networking events, teaching C.E. classes, etc., are
entered into a database.
If you don’t currently have a database then at
the very least get the Realtors’ names into an Excel
spreadsheet where you can enter a few, "memory
jogger" type notes about the Realtor; how you met,
useful information you may have gleaned from the
meeting and your next follow-up task and date.
WARNING: Storing the Realtors’ business cards
in a drawer and thinking you will be able to remem-
ber the details of the meeting and your follow-up
thereafter is only going to work for the first five or so
The Golden Rule…Never rely on your brain. You
must develop simple systems to maximize results.
The second habit is to enter a recurring, monthly
reminder into your calendar that prompts you to re-
view all of your new Realtor connections and deter-
mine who to stay in front of and how you intend on
touching base with them every single month.
Now, I am not suggesting that every single month
you will reach out to the entire list. I'm instructing that
you review the list, your notes and determine, based
on the individual and your most recent encounter,
what you could do to re-enter their brain space to
move a handful of these new relationships forward.
It could be that after reviewing your notes you
may only have 5 to 7 tasks to tackle, such as, a few
follow-up calls, a pop-by to an open house, sending
A Single Meeting
Does Not a Referral