I’m reaching out to share some groundbreaking findings from a recent study conducted by my mortgage team.
Over the years, we’ve meticulously tracked the Realtor referrals we receive while closing hundreds of loans each month by my personal mortgage team.
The insights we’ve uncovered in our latest analysis are nothing short of astonishing.
To get a clearer picture of the impact of Realtor referrals on our business, we divided the agents into two distinct groups:
Group A: Agents who closed 8 or more buyer sides in the last 12 months.
Group B: Agents who closed 7 or fewer buyer sides in the same period.
The disparity in results between the two groups was shocking.
We discovered that for every 2 agents from Group A we worked with, we secured 1 closing each month.
By comparison, it took referrals from 20 agents in Group B to achieve the same outcome.
This means that agents in Group A are ten times more effective in contributing to our closings than those in Group B.
To put this into perspective, if our goal was to close 5 loans in a month, we would only need to partner with 10 agents from Group A, compared to 100 agents from Group B.
Clearly, focusing our efforts on qualified agents who are actively closing deals is not only more efficient but also significantly more effective.
However, a surprising revelation from our study was that only 4-5% of agents nationwide qualify to be in Group A.
This highlights a critical insight: a mere 5% of agents are worth the investment of our marketing dollars and time.
Randomly selecting agents to approach at open houses or through networking events is likely why many loan officers struggle with these strategies.
The key to avoiding frustration and disappointment lies in targeting your efforts towards qualified agents.
Working without a clear understanding of which group your Realtor partners fall into is like spinning your wheels without making any real progress.
To help you, Here’s A Source For A Qualified List of agents in your area.
This list is designed to help you identify and connect with agents who have a proven track record of closing deals, ensuring that your marketing efforts are both strategic and effective.
Get The Qualified List Of Agents In Your Area Here
You deserve to work with the best, and being selective in your partnerships is not only advisable—it’s essential for your success.
Be picky, you deserve it!
