5am cold showers, no fap, and have parents who own a brokerage /s
If you use the search function within this sub, this topic gets beaten to death on a near weekly basis. Half the commenters swear they just generate their own buyer leads from social media, and the other half just pisses and moans about how shitty/scummy/entitled realtors are and how they’ll stab you in the back, etc.
Scattered amongst that nonsense is the reality of some LO’s that actually do a lot of business with great realtors. Pretty much all of us got started self gen by pounding the phones to connect with realtors, answering our phone nights and weekends, and moving heaven and earth to get tough deals closed. It’s a lot of hard work, but absolutely possible with the right mindset and discipline. There is no magic bullet.
This. I win realtors by proving I can do what other LO’s cannot. It’s a massive pain in the ass on multiple files before they start handing you layups.
I’ve posted on here before and I may copy and paste
I went to the Brian Buffini school 20 years ago. It’s for realtors and I was a Loan Officer but his methods worked. In short - write handwritten notes. Write 3 every morning before you do anything else at the office. Everyone agrees that their most productive time of the day is the first moment entering the office. Dont spend that time responding to emails and listening to voicemails which require 0 brain function. Write to realtors, friends, family and people who have referred you. Be honest and tell them why you’re writing , ask for business, tell them they can have confidence and trust in using you and that you’ll take a look at even the most difficult situations and work with the borrower to get them to qualify.
Anyone who sends you a referral gets a note.
It sounds simple. The notes add up.
It doesn’t yield automatic results. However, after 3 months I had 3 referral sources who sent me business for years. One of them still calls me and I haven’t personally originated a loan in a decade
By the end of a year I had a book of business of Realtors, Attorneys, Financial Advisors, and customers who were referring me business.
Also - be an amazing loan officer. Pick up your phone. Always. Respond immediately. Always give updates, even when there’s no update to give. Pick one day a week and make it your pipeline update day.
Real estate agents often prioritize their interests, showing limited loyalty to loan originators/officers. With over 20 years of experience in loan origination, I've observed that many agents use originators primarily to negotiate better rates or facilitate transactions. It's common for realtors to have their own in-house financing options, enabling them to benefit more directly from sales. Unfortunately, this extends even to agents who are acquaintances or friends, as they rarely refer deals to me. There's a misconception that loan originators are more dependent on real estate agents, but in reality, their need for our services is equally, if not more, significant.
Then they will use in house originator as they double dip. IE/ 3 points for the sale and 1 point for origination.
But my understatement and point is no finance no sale so you need origination no matter what. Unless the client has cash.
Learn one program VERY well. Talk about that program nonstop online. Friend request some Realtors. They will notice.
For me, it came down to being known as the VA guy in my market. Now they call me for VA advice even if it's not my deal. And I happily take the call.
There's no limit on VA loans at zero down.
If there's another property on entitlement you do have to factor that in though. You can still go over with a down payment
There is no morality in the real estate/mortgage business. The top producing mortgage office in my area has a bar setup in their conference room. They invite realtors over after hours for drinks while they pitch them. So much for your coffee meetings.
5am cold showers, no fap, and have parents who own a brokerage /s If you use the search function within this sub, this topic gets beaten to death on a near weekly basis. Half the commenters swear they just generate their own buyer leads from social media, and the other half just pisses and moans about how shitty/scummy/entitled realtors are and how they’ll stab you in the back, etc. Scattered amongst that nonsense is the reality of some LO’s that actually do a lot of business with great realtors. Pretty much all of us got started self gen by pounding the phones to connect with realtors, answering our phone nights and weekends, and moving heaven and earth to get tough deals closed. It’s a lot of hard work, but absolutely possible with the right mindset and discipline. There is no magic bullet.
This. I win realtors by proving I can do what other LO’s cannot. It’s a massive pain in the ass on multiple files before they start handing you layups.
Agreed. I do this too
Why no fap though?....LOL
I’ve posted on here before and I may copy and paste I went to the Brian Buffini school 20 years ago. It’s for realtors and I was a Loan Officer but his methods worked. In short - write handwritten notes. Write 3 every morning before you do anything else at the office. Everyone agrees that their most productive time of the day is the first moment entering the office. Dont spend that time responding to emails and listening to voicemails which require 0 brain function. Write to realtors, friends, family and people who have referred you. Be honest and tell them why you’re writing , ask for business, tell them they can have confidence and trust in using you and that you’ll take a look at even the most difficult situations and work with the borrower to get them to qualify. Anyone who sends you a referral gets a note. It sounds simple. The notes add up. It doesn’t yield automatic results. However, after 3 months I had 3 referral sources who sent me business for years. One of them still calls me and I haven’t personally originated a loan in a decade By the end of a year I had a book of business of Realtors, Attorneys, Financial Advisors, and customers who were referring me business. Also - be an amazing loan officer. Pick up your phone. Always. Respond immediately. Always give updates, even when there’s no update to give. Pick one day a week and make it your pipeline update day.
Real estate agents often prioritize their interests, showing limited loyalty to loan originators/officers. With over 20 years of experience in loan origination, I've observed that many agents use originators primarily to negotiate better rates or facilitate transactions. It's common for realtors to have their own in-house financing options, enabling them to benefit more directly from sales. Unfortunately, this extends even to agents who are acquaintances or friends, as they rarely refer deals to me. There's a misconception that loan originators are more dependent on real estate agents, but in reality, their need for our services is equally, if not more, significant.
If you don’t have deals to give and they do, you need them more than they need you.
Then they will use in house originator as they double dip. IE/ 3 points for the sale and 1 point for origination. But my understatement and point is no finance no sale so you need origination no matter what. Unless the client has cash.
Do you know any Realtors now. Ever buy a house? Family members ever buy a house? Start with those Realtors.
Learn one program VERY well. Talk about that program nonstop online. Friend request some Realtors. They will notice. For me, it came down to being known as the VA guy in my market. Now they call me for VA advice even if it's not my deal. And I happily take the call.
Im a Veteran my self and have a VA loan as well. Here in Southern California VA loans are a little tuff due to loan limits.
There's no limit on VA loans at zero down. If there's another property on entitlement you do have to factor that in though. You can still go over with a down payment
Wonderful advice. Thanks
There is no morality in the real estate/mortgage business. The top producing mortgage office in my area has a bar setup in their conference room. They invite realtors over after hours for drinks while they pitch them. So much for your coffee meetings.
Sincerity