There are some loan officers who you will hear say, “I never want to do business with real estate agents.” Others will say, “Agents cannot be trusted or are not loyal.” There are even loan officers who will say, “I want to do business with agents, but I don’t know how to stand out.”
What most loan officers do not realize is that regardless of which statement is made, they are all caused by the same reason: a lack of understanding of how agents think.
Everyone, real estate agents, loan officers, the clerk at the store, the computer programmer, all are motivated to action by the same reason. The question everyone asks in their head when someone is selling or marketing something to them is, “what is in it for me?”
If the recipient of a message does not perceive a real benefit, then they will ignore the pitch and move directly to rejection. In the case of the “non-loyal” agent…did, you ever ask yourself if you understood what their loyalty formula is?
Chances are their definition of loyalty, and yours are not the same. Their formula and for life, along with their experiences, could very well create a different world view than you have, and therefore their behaviors and values are not the same as yours. Remember, everyone does things for their reasons, not yours.
The secret to influence, loyalty, connection, and trust, is when two people align in their values of what is most important in a particular situation. In the example of a loan officer and agent relationship, either you can hope your values align, or you could be served better by finding out what is most important to the agent.
Once you understand an agent’s needs, values, and rules of engagement, then you can decide whether it aligns with your own. If there is value alignment, then you can choose to pursue delivering what they need. However, if the agent’s needs are not in line with yours, then you can decide not to engage further.
Here is a simple example. An agent who requires you to be available seven days a week, and always answer their calls, is an agent that has rules of engagement that I think you would be insane to attempt to meet. However, if you never uncovered their rules, then what happens is that when you unknowingly violate them, they will not be loyal.
The secrets to building your business with referral partners that are a good fit for you are:
- Knowing what your rules of engagement are
- Understanding an agent’s rules of engagement and then deciding if there is alignment
- Never stop pursuing relationships. Remember, the more you consistently work to create relationships, the more you get to pick and choose who you work with.
Are there agents who are not loyal? Of course, there are. Are there agents who have unreasonable expectations of loan officers? You bet. However, you don’t have to do business with them if you prospect consistently to develop relationships, ask the right questions to uncover their rules, and then seek alignment in your rules of engagement.
Agent referral business can be tremendous in the growth of your business. Understanding their needs and rules is the key to you surrounding yourself with only people you align with. Life is too short to work with people you can’t stand.
Make the commitment to find those that align with you, and you will enjoy the mortgage business in ways you never imagined.