The relationships realtors and loan officers build together are extremely important when trying to generate business on both ends. A realtor is looking for a loan officer they can count on to help guide their clients through a smooth transaction, while the loan officer is looking to build that trusting relationship so they can continue to work together on more deals in the future.
Once that relationship forms, the realtor and loan officer can really band together in many different ways that will benefit both parties.
Here are the top 5 ways this working relationship can shine…
- Networking
When a real estate agent and loan officer join forces, they easily increase their number of potential clients by sharing their contacts and databases. They can also give each other any connections they have in the business such as attorneys, title agents, contractors, and more. They can also host or attend networking events together, and introduce one another to their contacts.
- Educating
A loan officer can benefit from a realtor’s expertise in the real estate world, and vice versa. Together, they can use their knowledge to help educate their consumers on what to expect during the home-buying process. As mentioned before, networking is a huge piece to the puzzle, and the realtor and loan officer can host networking seminars or webinars on certain educational topics.
- Marketing
Marketing is one of the biggest components when it comes to a successful realtor/loan officer relationship. Both sides can help each other greatly if they take marketing seriously (which they should). By working together, the realtor and loan officer can create co-branded marketing materials such as email blasts, videos, open house flyers, social media posts, and more. By doing so, you now introduce each other to one another’s contacts, and will both be seen by many more potential clients. Keep in mind that you can also sponsor certain events for one another. For example, a loan officer could host a lunch at a realtor’s open house, which benefits both sides by increasing attendance at the event.
- Service
Customer service is so incredibly important when working with clients. A good real estate agent and a good loan officer is one who answers their phone, returns messages in a timely manner, and is accessible overall. The home-buying process can also be a very stressful time for your clients, so relying on one another to help ease the transition by offering legitimate knowledge, input, and advice to the client is huge.
- Referrals
Isn’t this what we all want at the end of the day?! Sharing your contacts and closing deals together should definitely lead to more referrals for both the realtor and loan officer. If you’ve liked working together and have built a great rapport with one another, you will also be more open to sending clients each other’s way in the future as well.