NMP - November 2017 - 8
✒ Top Originators Work Closely With Real Estate Agents Here's how to form successful alliances By Tom Hutchens W hen it comes to finding new clients, originators do not have to go at it alone. Loan officers can create support networks by presenting to real estate sales professionals. This is a great way to sustain referrals and profitable pipelines. Engineering industry relationships is easier and more effective than unearthing individual homebuyers. Agents are involved in most home sales. Many professionals have clients who need financing help. Any loan officer can become a trusted advisor to real estate pros, who will in turn deliver referral clients to your door. When you have information to share, agents will see you as an expert who can be entrusted with their clients' financing experiences. Most importantly, tools are readily available that help every originator deliver high-quality presentations. Most real estate sales offices hold weekly sales meetings. Managers often struggle to offer fresh, fascinating content. Therefore, they welcome guest speakers to engage their agents. It's a straightforward process to get in the door and develop relationships. NOVEMBER 2017 n National Mortgage Professional Magazine n NationalMortgageProfessional.com 8 1. Ask for the opportunity Ask agents you know about their sales meetings. Who leads them? Do you have outside presenters? Can you get an introduction to the sales manager? For those who are new to the business, just walk into the office or call the sales manager. Chances are that many will welcome your pitch. 2. Pitch your unique value Say you know about both conventional and portfolio loan products. There is confusion in the marketplace about which loans are most appropriate for buyers. Explain that agents can close more sales and really boost their incomes by helping clients who need a non-conforming loan. 3. Prepare and practice Preparing involves understanding your audience and creating content (a speech and/or slides); both are equally important. For your content, many mortgage lenders-including Angel Oak-offer customizable slides and literature. Angel Oak, and other lenders, will also send account executives to help you present. Most importantly, practice your presentation over and over. With each presentation you make, your comfort level will improve and the authority you convey will become more convincing. However, you will only get superior results if you continually follow up with the contacts you have made. On Tuesday, Dec. 5, at NMP's free Holiday Networking Party in Irvine, Calif., National Real Estate Post's Frank Garay will offer tips on working with agents. Visit SignUp.NMPMag.com/HolidayParty for details and registration. Tom Hutchens is Senior Vice President of Sales and Marketing at Angel Oak Mortgage Solutions, an Atlanta-based wholesale/correspondent lender licensed in more than 35 states and operating in the non-QM space for over three years. Tom has been in the real estate lending business for nearly 20 years. He may be reached by phone at (855) 539-4910 or e-mail Info@AngelOakMS.com SPONSORED EDITORIAL elite performer the The Human Robot BY ANDY W. HARRIS, CRMS he future is here. Technology has rapidly advanced over the last few years and it's remarkable to see what has been accomplished in the mortgage industry in such a short period of time. A borrower can literally start an application and close the entire loan process, from online application to signing closing papers, all digitally with no documents whatsoever. This is both exciting and frightening at the same time for those of us in the real estate and mortgage industries. Certainly we want to make the process easier on the consumer, but without risks. Risks can come up from input errors or confusion if the borrower has incorrect information or doesn't understand pricing, etc. The other risks, of course, is ensuring job security. There was never a more important time to be an expert in your field and an asset to your clients. The process will commoditize as it has been, but you cannot allow your personal services to fall victim. While refinances may be trending in a consumer-controlled process, purchase transactions certainly need the strong human element. There are too many important parts of the process with vital timelines and details that cannot be handled by a computer. A homebuyer must have experts on their side, helping them every step of the way with this large financial investment. As noted, refinances I see as being the larger risk for becoming consumer-controlled online originations. Some savvy consumers may prefer and not need the human interaction or deadline pressures. They may have also been through the process several times and familiar with what they want regarding terms and benefits, and thus control the details and process through an online system. Again, there will always be details and services that can never replace a human, so it's time to get to work and be ahead of it. The Web site, WillRobotsTakeMyJob.com, rates Loan Officers at 98 percent chance they will and that we're doomed. It's a 97 percent chance for Real Estate Brokers. I do not fear these numbers as I see this happening, especially on the real estate side with property data available at the click of a mouse. Margins will be restricted everywhere due to competition and technology. The goal is to both embrace the technology by adding speed and ease for the consumer, but also compete with it and offer value and expert advice that a robot cannot. Carefully watch the tech space. Embrace it. Change. Adapt and be ahead of your competition and now is not the time to sit on the sidelines. You're still human, but you'll need to become a hybrid with robot elements. Exciting and scary? Yes, but remain motivated and focused. T The views expressed in this article are those of the author alone and do not necessarily reflect the views or policies of the author's employer or any organization with which the author may be affiliated. Andy W. Harris, CRMS is President and Owner of Lake Oswego, Ore.-based Vantage Mortgage Group Inc. and Past President of the Oregon Association of Mortgage Professionals. He may be reached by phone at (877) 4960431, e-mail AHarris@VantageMortgageGroup.com or visit VantageMortgageGroup.com.
For optimal viewing of this digital publication, please enable JavaScript and then refresh the page. If you would like to try to load the digital publication without using Flash Player detection, please click here.