Loan Officer Marketing

It’s no secret that the bulk of our referrals come from agents who have closed 8 or more buyer sides in the past year.

However, my mortgage team and I have also seen a significant number of closings from agents who only complete a few deals annually.

Wait, whaaaaat

You might wonder how we manage to achieve this feat, given that it involves collaborating with hundreds of these lower-producing agents to get even a handful of closings each month. The secret to our success lies in a strategy we’ve perfected over time, which we call:

High Touch, High Tech, Low Time

This approach ensures our referral partners receive personalized attention (High Touch) through the use of advanced technology (HighTech), all while demanding minimal time investment from our team(Low Time).

It’s the formula that makes working with a vast number of lower-producing agents not only feasible but also profitable and scalable.

Many loan officers (LOs) find themselves stuck in a cycle of High Touch, Low Tech, High Time efforts. This approach is time-consuming and often leads to frustration and burnout.

If you’re looking to break free from this cycle, it’s crucial to shift your focus.

I’m known for showing LOs how to focus on relationship marketing with Qualified Agents—those closing 8 or more buyer sides in the last 12 months.

However, there is plenty of gold in lower-producing referral partners, but you must adopt the High Touch, High Tech, Low Time strategy.

This balance will allow you to maximize your closings without overwhelming your schedule.

To help you implement this strategy effectively, we’ve identified a tool that hundreds of LOs are already using to maintain High Touch, High Tech, and Low Time interactions with their referral partners.

Discover the Tool That’s Changing the Game for LOs

Your success is well within reach. Embrace the right strategies, and you’ll see your referral numbers soar.

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!