Today, I want to talk about the importance of shining during a purchase transaction. When we, as mortgage originators, have a transaction going and there’s a listing agent involved, it’s our time to really impress. This is a golden opportunity to convert that listing agent into one of our referral partners by dazzling them with our professionalism and dedication.
Here’s a personal experience to illustrate this:
I have a transaction going right now, and I always make sure to focus on three critical contingency dates that matter to any real estate agent: the appraisal contingency, the loan approval contingency, and the close of escrow. Right after the transaction starts, I make a point to call the listing agent. During this call, I let them know that I understand these contingency dates and that I will work diligently to meet them.
Consistent communication is key. With the Mortgage Marketing Animals, we update our agents every single Tuesday. In my updates, I always talk about the contingency dates, making sure to inform them about our progress and if there might be any issues in meeting those dates. If I foresee any trouble, I let them know well in advance.
This approach has proven to be incredibly effective. For example, I recently closed a transaction where I kept the listing agent updated every Tuesday, focusing on those contingency dates. At the end of the transaction, which closed perfectly, the listing agent told me I was the best lender she had ever worked with. She committed to using me as her lender for all future transactions.
Remember, when we handle these transactions with care and clear communication, we can convert listing agents into loyal referral partners. So, let’s make every transaction an opportunity to shine!
PS: To learn more about how we can help you grow your business, visit DailySuccessPlan.com. Don’t forget to join our free live zoom coaching calls every Monday to Friday from 8:30 AM to 9:00 AM ET at LoanOfficerBreakfastClub.com. Also, register for our upcoming Loan Officer AI Bootcamp on July 18-19, 2024, by visiting MastermindRetreats.com.