Scott Peckford and Stephen Gagnon Answer Your Mortgage Broker Questions
This week’s question comes from Tim Osborn, a Licensed Mortgage Professional in the Vernon/Armstrong, BC area. He asks: how would moving into a real estate office affect business and relationships with other realtors? Our guest speaker Stephen Gagnon of Mortgage Designers at Mortgage Architects in Victoria, BC shares his answers and similar experience.
- A large portion of our growth has come from having access to realtors on a daily basis and building relationships along the way.
- Mortgage Designers is in-house with RE/MAX Camosun.
- The initial reluctance was that we limited ourselves to one captive audience: our real estate agents.
- Not every realtor will refer clients to you, but over time relationships strengthen. Showing your ability to add value to what they’re selling to their clients further builds those connections.
- We sit in on weekly meetings and provide relevant information which agents can relay to their clients.
- If a realtor leaves the office but still has a strong relationship with you, hold any future meetings outside of the office.
- Hosting social events allows your realtors to get to know you as individuals instead of simply colleagues.
- Social environments provide more effective means for building relationships.
- We have an open-door policy, especially because we’re in-house.
- As you are starting out, remember the 80-20 rule; focus on building relationships with the 20% of realtors doing 80% of the work. Also foster relationships with newer realtors.
- Maintaining and continuing to build relationships is crucial.
- If you have done a deal to help one of the realtors in the office, ask them to do a testimonial at one of the weekly meetings.
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