In the first segment, I introduced four areas of focus to help you succeed in a rising rate market. I will now introduce the last and most important focus: real estate agents. We are moving from a refinance dominated market to a purchase dominated market. And the majority of purchasers still listen to the advice of a real estate agent before selecting a lender.

So, let’s go back to that database I suggested you compile. Every person in your sphere knows one or more real estate agents. There is no reason to cold call them if you can get a personal introduction through someone in your sphere. Your next-door neighbor may have a relative or a close friend who is a real estate agent.

Meeting them is not enough. In this market, they are being besieged by loan officers looking to get their business. Therefore, you must be offering something of value. And when I say value, I don’t mean paying cash under the table for referrals. What is value? There are two major elements of value:

• First the value must be unique. Putting this another way, if you are offering what every other loan officer is offering, it can’t have perceived value. That includes the usual great rates, great service and great products. If they hear the same lines every day, how can you establish value through differentiation?
• Second, the value has to be what your target is interested in—not what you are interested in. For example, I hate to say this, but agents and clients are not interested in mortgages. Clients are interested in real estate and agents are interested in selling real estate. Thus, the real question with regard to real estate agents is: how are you going to help them sell more real estate?

And don’t say: by getting your deals closed on time, because that is what everyone else is claiming, even those who don’t deliver on this promise. You can’t come up with a solution until you find out what their goals are and the challenges they face trying to achieve these goals. Once you establish that you are interested in what they want, then you are moving in the right direction. More to come on the topic of value in the final segment.

Dave Hershman is Senior VP of Sales of Weichert Financial and the top author in the mortgage industry. Dave has published seven books, as well as hundreds of articles and is the founder of the OriginationPro Marketing System and Mortgage School – the online choice for expert mortgage learning and marketing content. His site is www.OriginationPro.com and he can be reached at This email address is being protected from spambots. You need JavaScript enabled to view it..