How My MLO Got My Business For Life

By Nathan Froelich October 13, 2015

To this day I still remember my first REALTOR, Mortgage Professional lunch. We went to a local pub, nothing fancy and I had really no idea what to expect. I honestly didn’t know much about mortgages. I was twenty four years old, ten minutes into my real estate career, and about as green as they come. Two hours and a hundred questions later I left dazed and confused but excited to know someone who knew a lot about this business.

Here’s the gold; we talked very little about mortgage and more about the relationships I needed to develop. My new favorite mortgage broker explained to me who I needed to talk to and who I should steer clear of. She gave me some key names and numbers of people who were going to help me in my new endeavors.

  • The first was a title insurance rep who I ended up being fiercely loyal to for the next five years. The key ingredient with this introduction is that the rep was aggressive and great at holding me accountable. He went so far as to schedule a time for me to get my business head shots because I kept putting it off.
  • The other contact she gave me was a fellow REALTOR who she knew enjoyed helping other agents. This agent was at a different brokerage which worked out well in my situation because he didn’t have the same bias as the trainers at my office. For the price of lunch I learned volumes and stayed in touch with that agent regularly for years. 
  • She hooked me up with an insurance agent who didn’t mind taking a newbie REALTOR out to lunch to teach me a little about homeowners insurance and sales in general. People in the insurance (non-title) business are pro’s at working their SOI and I learned a lot from him; in turn I sent him many clients.

Moral of the story--this MLO didn’t sell me on his the size of her enormous parent company, or her ability to get the best interest rate. She sold me by helping me get started in this business which was a risk because only about one third of agents will make it. Needless to say her gamble paid off. My business partner and I sent her literally hundreds of clients during our real estate career.

Don’t underestimate the power of your network and look for the less obvious connections you can make.

Web Designers or Developers

Graphic Designers

Attorneys

CPA’s

Human Resource Managers

Funeral Home Directors

Nursing Home Directors

Interior Decorators

Painter, Plumbers, Contractors, Handyman, Landscapers

Any Small Business Owner

Sales Coaches

Business Coaches

Bank Manager

Doctors

Dentists

Teachers

Principals

This list could go on and on. What’s important is that you already have these people in your network and they want referrals from real estate agents. Leverage your network and you just might get a referral partner for life.

To learn how Agent Engage can help you get more residential purchase business click here.

Nathan Froelich is the Co-Founder of BreakthroughBroker.com and Agent Engage, where the mission is to provide real estate professionals with insanely simple tools and information for success and to connect the affiliate industries with those professionals. Prior to starting BreakthroughBroker.com, Nathan was a top producing REALTOR® and the Broker/Owner of one of Northern Colorado's largest independent real estate firms, which was later acquired by ERA Real Estate.


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