Over the last month, I met with the senior leaders of three different companies in the home lending space. I also have met with four top agents that are growing their teams. It was surprising to find out that they all had something disturbing in common: they lacked a centralized database or list of potential recruits.
While it sounds surprising, if you understand our industry, it makes sense. Most leaders in mortgage and real estate came up through “the ranks”, which means we are typically better at building relationships than scalable, sustainable systems. Let us not forget that our industry has the attention span of a 5-year-old.
It is my belief that we should all maintain an organized and updated list of peers and recruits that we can get to at a moment’s notice. Three of the reasons are listed below.
1) Relationships Start With Connections: Lets face it, no one likes to make cold calls. Social media has evolved the art of B2B connecting. I don’t talk with anyone I am not connected to in some way on one of my social platforms. When I see someone consistently adding value to the universe on a social platform, it motivates me to take their call. It is easier to engage a connected contact rather than a cold one.
2) We Can’t Predict The Future: Shall we list the many things that have happened in the mortgage and real estate business that were unexpected? Do you know where you will be in 5 years? How valuable is a curated list of local talent that you have an ongoing relationship with?
3) Time is Money: Whether you are recruiting an admin, buyer’s agent, or a new MLO, time is not on your side. The cycle is long and I have found the “approach” can often be the most challenging part of the process. Connecting, even infrequently, shortens the cycle so you can get onboard faster and get to the business of growing!
Curated second tier and third tier relationship with peers and potential recruits is valuable beyond measure. If you are committed to doing better, where do you start? Build the list of people you know and connect with new folks on your social platforms.
I am currently wrapping up follow up posts that will guide you through the steps to build a valuable list of relationships to keep you business moving forward. Sign up for the blog to get updates.