Savvy Strategy for Getting Realtor Referrals

Smart Realtors know that the most important people coming through weekend open houses aren’t necessarily checking out the house.

Rather, they’re checking out them.

Lender marketing: “Mortgage Process Panic Pills” (aka “Skittles”).

Specifically, the open house visitors — often neighbors — want to see if the agent is doing a good job marketing the home, is knowledgeable, easy to talk to, etc.

If so, they’ll consider hiring them to sell their home.

Stealth Job Interview

Somewhat similarly, there seems to be a new trend of Buyers’ lenders who don’t just keep the Listing agent (representing the Seller) in the loop, they’re affirmatively marketing to them.

You know, for future business.

Those lenders know two things:  1) Listing agents today are often Buyers’ agents tomorrow — and at least some of those Buyers will need a mortgage, and not have an existing lending relationship (or at least, one that they’re happy with); and 2) unlike consumers, veteran agents can tell the difference between a good lender . . . and a not-so-good one.

So, if the listing agent has an especially good experience working with the lender — they provide regular updates, process the appraisal expeditiously, know the Written Statement deadline (and meet it!), etc. — the listing agent may very well refer future business to them.

Smart . . .

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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