Mortgage Originators face Challenging Times with the Refinance Booms end: They're depending on websites like RealtorPartnershipSystem.com to learn how to Generate Realtor Referrals to Survive

When rates hit 40 year lows it was easy for most originators to generate a lot of business. But now that the boom is over hundreds of thousands of mortgage originators are struggling through out the Country. Now with the continued rise to interest rates mortgage originators are looking for online websites that help them learn how to recruit realtor referral business.

Denver, CO (PRWEB) November 4, 2006 --
Managers and industry experts are all saying to make money in this market one must recruit and work with realtors. Originators will need to go out and start building relationships with realtors and get them to refer their purchase clients. They're right. But as many are learning most of them don't have a good enough system to make this happen.

Even though the refinance boom is over, there are still millions of consumers who are purchasing new homes for the first time, while many others are upgrading or downsizing their current homes.

The purchase business will always be booming. This leaves a tremendous amount of opportunity for originators. Although the rates have been dramatically rising and will most likely continue to rise for quite sometime, there will always be a market for purchase business.

Many originators might have already tried to work with realtors and agents with no success by dropping off rate sheets, promising better service and even buying them pizza & doughnuts and they didn't even give the originator the time of day. Because of this most originators are starting to believe that they're just not going to be able to work with Realtors.

The best way to work with realtors is if they need the originator instead of the originator needing them. Then they'd call the originator instead of the originator begging them for business.

So what is it that an originator can bring to the table that's valuable to get realtors to come to you? Oliver Maldonado, the Author of The Greatest Sales Book in the World & The Mortgage Book and creator of www.RealtorPartnershipSystem.com says, "There are 6 steps to creating successful Realtor Partnerships in this market. Although most originators are all trying to recruit realtors with no success, if you follow these 6 steps, you'll have success."

Follow these 6 steps to start creating realtor partnerships.

Step 1: The first step is the Realtor must call the originator. In other words, they must first want to work with the originator. This is very important. As mentioned before, they've been bombarded by this person and that company. The reality is the realtor market is saturated by that method. This way, they'll have trust since they made the choice to come to the originator.

How are you going to get them to call you? You'll do that with step 2.

Step 2: The way to get realtors to come to the originator is by also giving them something of value by referring them listing & CMA (Comparable Market Analysis) business. This is the only way to really generate and create business with realtors. Remember, the good realtors are already working with other mortgage originators. Even though they're working with these other originators, they're definitely not going to turn down new leads and new business.

In almost all of the Realtor/Originator partnerships, most are not based on the mortgage originator generating the Realtor new Listing & CMA business. So it should be relatively easy to start a new partnership with a Realtor.

Listing & CMA leads are very important to realtors.
Most homeowners regardless of whether they're in the market to sell or buy a new home are interested in what the value is of their home is and that of what other homes in their area are.
Almost all homeowners will someday need the services of a realtor to list & sell their current home and help them buy a new home. So generating listing & CMA leads from homeowners is a fairly easy thing to do if you use a proven system.

Now you must be thinking, "How am I going to generate new listing & CMA business for a Realtor"? Originators will find out how to generate the listing & CMA leads in step 3.

Step 3: There are a couple of ways to generate these leads by cold calling or even having canvassers go door to door, but one of the most successful and easiest ways I've developed is with a direct mail piece that generates an amazing response.

The mail piece is a copy of the first page of their deed with a return postcard that they'll fill out and send back to the originator requesting a CMA. The piece is so successful that out of every 100 pieces mailed the response is 8-12 returned asking for a CMA on their home and a call back from a Realtor. To see an example of the post card or to learn how to generate your own deeds & return postcard visit www.RealtorPartnershipSystem.com.

At a cost of about $40 dollars, originators could generate between 8-12 Realtor leads. Cost per lead is between $3-$5. This is a very inexpensive and effective way to generate business that you're now going to use to create new realtor partnerships.

Step 4: The next step once the listing & CMA leads have come in, the originator will need to refer them to realtors. There is a criteria to use in selecting the right realtor. Remember the originator now has something of value. Part of the selection will be realtors who work in similar areas as the originator. Another important criteria is a realtor or agent that's only been in the business for 2-3 years is new enough in the business to need more business, but not new enough to not know what they're doing. An agent or realtor in the business for 2-3 years is established enough to have some business to refer the originator, yet new enough to have a necessity for the originator and how the originator can help their business grow.

The system is based on this primary principal of getting them to call the originator for something they want from them.

Step 5: Agree to meet with the agents that meet the criteria that want something the originator has. This meeting is where the originator is going to let them know you'd like to refer them 2-3 listing & CMA leads per week. Now you're helping their business and putting money in their pocket. In return for your referrals to them, it's expected of them to refer their clients that are looking to get pre-approved for a new home purchase.

Step 6: Enter into a partnership with the realtor or agent where both agree to do business together. I've always had them sign an agreement with me stating what they can expect from me and also what to expect from them. Till this day, there has never been an agent or realtor not sign the agreement with me.

This system also uses the greatest mortgage direct mail campaign in the world which also creates new refinance business for LO's & brokers at www.MortgageDirectMail.com

For more information visit www.RealtorPartnershipSystem.com.

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