If you're meeting with a new real estate agent, don't be afraid to act as a mentor on business development
Part III -- What is the best time to set up an appointment with a real estate agent? I get them to agree to meet with me, but at that point I am hesitant to suggest a time for the fear that they can't make that date and then I am back to square one.
--Bruce from Wisconsin
I have expanded this question quite a bit to accommodate different situations. This week, we discuss how our advice might change if the Realtor was new. In most cases we advise meeting with Realtors and asking their advice on strategies. In this case you should take the role of a mentor. And you certainly should allow more time for the meeting as opposed to meeting with an experienced and productive agent. Notice that I have added the word productive because experienced does not mean productive and my assumption is that you have always done your research in that regard before asking for an appointment.
Now the next question is -- if you are changing the role from sales person to mentor -- what are you mentoring on? The first inclination for a loan officer is to teach a rookie about financing. Of course, this topic is important. However, there is a much more significant opportunity. You can mentor the rookie regarding business development. Do not assume relating your own experience would not help this neophyte. Plus, serving many real estate agents, you should have a good idea of what is working for those who are successful. If you mentor this rookie and they become successful, you likely will have a relationship which will last for a very, long time.
--Dave Hershman
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].
--Bruce from Wisconsin
I have expanded this question quite a bit to accommodate different situations. This week, we discuss how our advice might change if the Realtor was new. In most cases we advise meeting with Realtors and asking their advice on strategies. In this case you should take the role of a mentor. And you certainly should allow more time for the meeting as opposed to meeting with an experienced and productive agent. Notice that I have added the word productive because experienced does not mean productive and my assumption is that you have always done your research in that regard before asking for an appointment.
Now the next question is -- if you are changing the role from sales person to mentor -- what are you mentoring on? The first inclination for a loan officer is to teach a rookie about financing. Of course, this topic is important. However, there is a much more significant opportunity. You can mentor the rookie regarding business development. Do not assume relating your own experience would not help this neophyte. Plus, serving many real estate agents, you should have a good idea of what is working for those who are successful. If you mentor this rookie and they become successful, you likely will have a relationship which will last for a very, long time.
--Dave Hershman
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].
