Grow and Scale Your Purchase Business with Leads
Build a scalable pipeline of qualified buyer leads.
I was out last week with a group of our Real Estate agent teams in Florida, and one of our realtors mentioned how much they dislike loan officers constantly begging them to send them a deal. He told me, “I invest a lot of time and money in my business, and it seems it’s a one-way street with LO’s. They call me and tell me to send them my buyers, and I’ll do a good job, but everyone does a good”. If this type of “asking” marketing is something you are sick of, you’re not alone; chasing Realtors who don’t have buyers to send is simply a waste of time when considering the other options available.
So what are the other options?
Build a scalable pipeline of qualified buyer leads.
When we asked Adam Sullivan, Zillows senior Strategic Manager, about growing your business, here is what he said. Watch Clip: https://youtu.be/LXTGgIb1XOc?
Scaling your business in 2022:
- • Be Online – 90% of buyers start online by simply searching for homes or a mortgage. These buyers are looking to get pre-approved and tour properties. Having a complete and comprehensive online presence with quality reviews and a good presentation will ensure that you are findable to the consumer during the search. Watch Clip: https://youtu.be/LXTGgIb1XOc?
t=15 - • Buy Leads – Companies like Realtor.com, Zillow.com, LendingTree.com, and Bankrate are EXPERTS in lead aggregation and capturing qualified prospects. They spend billions of dollars to find the best way to capture qualified prospects. Leads are valuable to you and real estate agents; you should look at these lead providers as partners to grow your business.
- • Find VIBRANT Local Agents to Work With – Local Agents have quality referral businesses to send to you. Use leads to find and engage local agents in the lead space that you can partner with.
- • Build a Pipeline of Buyers – It should be a mutually beneficial relationship between your agent teams and you. Ultimately if you are in leads and have leads to send to the agent, they will reciprocate with additional business opportunities. Watch Clip: https://youtu.be/LXTGgIb1XOc?
t=153.
The reality is that no one has a mortgage product or a magical phrase you can say that will grow your business beyond a certain point. Every mature company has a budget for leads and marketing, and your business should be the same. Getting business from Realtors is something that you have no control over. However, if you build up your pipeline of buyer leads, you are in control of the leads, you are in control of the process, and you are in control of growing your business.
Benefits of Leads:
- You can buy leads anywhere – People are looking at homes online everywhere. If you’re licensed in multiple states, you can do loans anywhere in that state.
- You have something to call agents about that’s real – Calling an agent and asking for business vs. calling a realtor WITH a lead will significantly change
- You are in control of your business – If you have leads, you have a business. Spending your time and money on quality buyer leads vs
- You will grow your self-esteem – You can spend your life begging for business, but you’re still a begger.
There’s no prospecting formula that will beat out someone buying leads. I have personally seen lenders who provide the best service, close on time, issue pre-approvals 7-days a week that get CRUSHED in production by LO’s, and teams that aren’t nearly as sophisticated but just have more leads and ends up closing more deals.
When I speak with LO’s about these strategies, they don’t know where to start and are often stuck with questions like “Yes, but I don’t have a call center” or “I am in retail, I can’t manage these leads.”
Well, simply that’s why we started Real Estate Connection, to provide a “Path to Purchases” for Lenders and LO’s looking to grow their business in a sustainable and scalable way.
Want to learn more about growing your pipeline? Click here to watch a video with Zillow talking about precisely this.