7 & 7 Relationship Development & The Interview
- “Are you a listing realtors or buyer representative?”
- “How involved in the financing process are you? Do you refer your client to Mortgage
Brokers or Bank Mortgage Specialists?”
- “ How many deals would you say you refer to MB’s or MDM’s annually”
Realtor response, tells you that they don’t usually get involved an have their clients get the
approval at their bank that they usually deal with. You would want to respond by saying,
“What if that bank doesn’t approve them”? What does the client do then?
- “If you do refer, tell me about your experiences, positive and negative” This provides a
feeling of caring on your part, we aren’t asking for business we are trying to understand
the realtor’s business and partner with them.
- “If a realtor says that they refer to a Mortgage Broker or MDM, what would they want to
change?
- For example he realtor tells you they have a wonderful relationship with a mortgage broker,
however they aren’t able to place deals for clients who do not show any income…. This is an
opportunity for you to present our equity program 1.5 times net worth program.
- “Do you work with a certain group of individuals, such as self employed individuals, new
residents, foreign investors?” ( this helps YOU understand what client we may be able to
work with )
- Define what you are looking for as far as a typical National Bank client, for instance let
them know that you are a MDM that seeks out “A” Clients, and that you are NOT able to
help ALL clients (minimum beacon score is 620). This sets a level of expectation for your
realtor or potential referral source, so they are not disappointed if they have a referred a
client that has been declined for any number of reasons, such as service ratios, down
payment poor credit.
When the opportunity presents itself, talk about our value proposition:
1. SAP - 8 out of 10 applications are underwritten and a decision is made on the spot, pending
an inspection or appraisal. The benefit to the realtor and client is a piece of mind in a fast
paced environment, such as conditions of financing.
2. CMP – We will assess your clients needs by asking about risk specifically with terms such as
a 2 year fixed or a variable. Our CMP may recommend a blended term vs. the standard 5 yr
fixed or variable. Feel free to do a demonstration for the realtor by showing them the CMP.
3. Referral Program - .50% for closed deals, illustrate how much they could earn by using an
example of 5 deals at $400,00 each = $10,000 income, for marketing their business, giving
back to clients for housewarming, staging costs, etc.
Speaking very briefly about our SAP, CMP and Referral program, can also be a great way to get
the realtor to commit to a meeting when introducing yourself over the phone and they would
like to know what you would like to discuss with them.
