When the agent gives a lender all of their business, I believe, the lender is usually happy to do more than close the loan, especially if they make money, too! Building long-term relationships by utilizing the database information to build joint name recognition with closed clients and all their friends and family is paramount. This relationship works because both parties receive benefits. Direct mail/E-mail is the best vehicle to achieve this goal.
Lenders soliciting top REALTOR® business may have to go the extra mile. But how can we as agents make going the extra mile more profitable to the loan officer? Here is an idea that will make a direct mail/E-mail program more valuable to you.
A series of letters, offering benefits and mentioning the team alliance of the top REALTOR®-lender will go a long way in building a relationship with clients for that REALTOR®-lender team. A lender’s sphere of influence of closed clients will include details of the closing such as loan amount, interest rate, and costs, but it would also include the referring REALTOR®.
By including the referring REALTOR’s® name in all direct mail to the lender’s sphere, the REALTOR® is promoted without being involved. Furthermore, the database would contain whether this was a buyer that just closed or a seller that was able to close by the efficient acquisition of a loan for their buyer. The letters, of course, would be tailored to those two instances.
Here is one of our letters sent on our behalf to the clients we referred to our lender. Also, the chapter in Grow Your Leads on affiliate driven lead generation will give you a ton more ideas.
Lender Refinance Letter to REALTOR® Referred Client
Date
Name
Address
City, ST ZIP
Name:
I AM SO GLAD FOR OUR RELATIONSHIP!
We have been through the paperwork and your personal goals. I appreciate your trust! I would like to maintain our relationship so that my database is calendared to contact you again when it becomes profitable to discuss refinancing again. Feel free to call me anytime if you would like to free up equity for any reason.
Many times a real estate professional is required to complete your goals — investing in real estate, selling your home, “moving up,” or just supplying a little free counseling. One of the members on my team is Walter Sanford, a top agent here in Long Beach. I can arrange a no obligation meeting for you with him, whenever you need real estate insight.
You can rely on my financing experience and connections in the real estate industry and please accept my courtesy service calls in the future. Do not forget referrals are greatly appreciated!
Sincerely,
Lender Name
XYZ Lending
As I coach top agents in North America, I am able to become involved in their businesses. I have found that the manipulation and prospecting of their sphere of influence is many times neglected. If their lender team member picks up the slack, they are including a value-added service that helps the team.
This mentality will allow the loan officer to be mentioned as a lender of choice in the REALTOR’s® contracts. The lender is now without the daily pounding of the real estate offices on Main Street, because of the loyalty of a REALTOR® team member. The real estate agents whom I have taught this strategy are delighted and immediately implement it with their chosen loan officer.
Here is a sample of a letter that my client received after they had just purchased a new home from me. My lender would have all the necessary information to produce this letter including the date of closing, address, and name of my clients. Because of this closing information, they would also know that I was the originating agent.
Date
Name
Address
City, ST ZIP
Name:
CONGRATULATIONS ON THE PURCHASE OF YOUR NEW HOME!
After we closed on your new home, I was talking with your REALTOR®, Walter Sanford, about how to continue to offer you services. In discussing the terms of your loan, we agreed that more people should be taking advantage of these low interest rates! With your approval, we will be keeping you up-to-date with any further changes in the mortgage markets.
In speaking with Walter the other evening, I wanted to make sure that we could consistently offer you a level of service that would remind you to use the Sanford Team whenever the subject of real estate loans or brokerage comes up. It is always our goal to build clients for life by offering additional services and to go the extra mile. Walter and I always like to show you what sometimes may be considered a “smart money” move. Enclosed you will find an amortization schedule showing what your loan will look like if you pay the loan under the original terms as agreed. We have also enclosed one showing what the amortization schedule would look like if you added just $300 more to your payment.
As you can see by adding this small amount of principal toward your payment, we, the lending institution, would be receiving $XX,XXX.XX less in interest over the term of your loan and the loan would be paid off X months sooner.
Why am I telling you this? As a Sanford Team member, we know that to obtain return business we have to build clients for life. To build clients for life, we have to consistently be a resource and an asset to your real estate making decisions. We felt it is important to let you know that with a small additional monthly investment you can not only save the above amount of money in interest, but also you can cut your 30-year loan down to XX years.
I know it seems amazing that this small investment can do so much to your loan and that is why we are so excited to send you the attached schedules. If you would like to see additional amortization schedules showing different additional payment amounts, please give me a call directly, and I will get these schedules to you.
You will soon be receiving a letter from Walter about his VIP Client Club. In this club, you will be provided with many services that you can lend to your family and friends along with services you also can use! We know that you will find it beneficial.
As always, if you have any questions, please do not hesitate to call Walter or me. It is our goal to be on your real estate team!
Feel free to share the information about our services with your family, friends, and co-workers. We greatly appreciate your confidence! We want to help you both before and after your real estate transactions.
Sincerely,
Lender Name
XYZ Lending and a member of The Sanford Team
Enclosures: two amortization schedules
If you’d like more joint lead generation systems and other lead generation systems, Walter has a system devoted to just that! Lead generation is what builds your business and keeps your pipeline full, no matter what the market says! Grow Your Leads: Just Add Wa(l)ter is a hefty book full of detailed and complete prospecting systems, and it includes the data CD (digital copy). This is also a great manual for an assistant.
Call 800.792.5837 and ask for the $50 blog special on Grow Your Leads: Just Add Wa(l)ter. Check out the content details here: http://www.waltersanford.com/shop/grow-your-leads-just-ask-walter/.
