Besides building relationships directly with realtors, what other methods do you use as a lender to generate leads? I'm considering joining BNI - anyone ever tried this group?

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Rainmaker
630,251

Ajay Pandya

e-Merge Real Estate Unlimited - Columbus, OH

Realtor Ajay Pandya

Supporting my business with co-branding.

Mar 09, 2018 10:46 PM

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2

Praful Thakkar

Burlington, MA

Rainer
279,878

Dipti Thakkar

LAER Realty Partners - Andover, MA

On a team with Praful Thakkar

Breaking breads together.

Jul 28, 2018 11:27 PM

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1

Praful Thakkar

Burlington, MA

Rainmaker
2,443,250

Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

Are you a new agent? If not, keep in touch with your past clients. Sort them by interest rate or type of loan and keep them updated with where the market is right now and if a refi is in their best interest.

My other suggestion would be to write posts about the mortgage loan process and why it is not like buying a car or furniture. Compare why a credit score might pull a different number than an auto loan credit score. Write about different loan types. Educate buyers and home owners. When they are searching online they will find you.

Mar 17, 2015 12:32 PM

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1

Nicole Rivers

West Orange, NJ

Rainmaker
2,538,633

Joe Petrowsky

Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT

Your Mortgage Consultant for Life

I have been a member of BNI for 17 years. No one gives out more referrals than I do, each and every year. Last year I closed 34 transactions out of my group. I consider BNI my second best client.

Mar 17, 2015 08:53 AM

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1

Nicole Rivers

West Orange, NJ

Rainmaker
921,504

Annette Lawrence , Palm Harbor, FL 727-420-4041

ReMax Realtec Group - Palm Harbor, FL

Making FLORIDA Real Estate EZ

BNI, success is really the luck of the draw. If you get with an exceptional group it will be productive. Of the groups I been a part of you basically chase rumors. Time would be better spend dialing for dollars. I no longer attend even with a special invitation.

My recommendation to a lender is to find a value platform that is beneficial to those you intend to help. This will distinguish you from most lenders who are selling exceptional service that evaporates at the first bump in the road. SERVICE is not value added, it is REQUIRED.

If you are wanting cold leads from the 'internet' the magic is low rates.

If you want impossible leads, but future potential the magic is 'low FICO, not a problem."

Now you really should consider HELOC's if able to do so. That is when dialing for dollars can really pay off. If you are considering BNI, you will need more in your lending portfolio than primary mortgages. If you do have more, BNI may payoff if you present your VALUE position.

With shame I must confess my over the top lender for delivering hand holding service is my Wells Fargo guy. I really don't like doing business with the big banks. They have raised the bar.

My preferred lender does all within her power to make sure a deal closes. She is as committed to the process as I am. Start thinking about how a lender can demonstrate commitment...tangibly.

Now you will be able to run with the 'tangible' concept and create your own lead generation machine. Then when you carry YOUR lead to a REALTOR, you have their full attention.

IT IS A TWO WAY STREET.

Mar 17, 2015 06:10 AM

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1

Nicole Rivers

West Orange, NJ

Rainmaker
5,772,575

Ron and Alexandra Seigel

Napa Consultants - Carpinteria, CA

Luxury Real Estate Branding, Marketing & Strategy

BNI is a great group. One of the members on Active Rain, Joe Petrowsky belongs to one in CT and loves it. Of course, he is a master at referrals. BNI depends on the marketplace they are in.

When we lived in the Northern Wine Country of California, we checked out 4 BNI groups, and they just did not resonate with us. Not everyone was participating full out, and a lot of guilt trips were laid. My husband and partner, Ron talked to the head honchos there and they also admitted that all groups are not created equal.

Investigate the groups in your area, and find a strategy that makes you well known and well thought of in your community. A

Mar 17, 2015 05:56 AM

Upvote

1

Nicole Rivers

West Orange, NJ

Ambassador
6,413,731

Bob Crane

Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI

Forestland Experts! 715-204-9671

Many stop by our office and attend our team meetings.

Dec 22, 2019 10:53 PM

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Rainmaker
4,319,773

Praful Thakkar

LAER Realty Partners - Burlington, MA

Metro Boston Homes For Sale

Invite them to breakfast or lunches.

Jul 29, 2018 10:19 PM

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Rainmaker
4,800,132

Gabe Sanders

Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL

Stuart Florida Real Estate

I'm not a lender, sorry.

Jun 18, 2018 06:13 AM

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Rainer
4,310

Nicole Rivers

Classic Mortgage LLC. - West Orange, NJ

Thank you everyone for all the great info and feedback. What a warm welcome this is for a newbie! I look forward to learning more and making connections.

Mar 18, 2015 02:42 AM

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Rainer
4,310

Nicole Rivers

Classic Mortgage LLC. - West Orange, NJ

Anette, thank you for all of your recommendations. I do understand that with BNI, as it goes with any networking group, it depends on the group. I've been recruited for a new group starting a little ways from me and so the covetted mortgage position is up for grabs. I think I'll try it for a year.

My niche is definitely working folks with lower scores, and doing credit repair to get scores up when possible.I'd say that's my value position. My company doesn't do HELOCS so that's not something I can focus on.

Thanks for giving me so much to think about!

Mar 18, 2015 02:14 AM

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Rainmaker
861,827

Mark Don McInnes, Sandpoint-Idaho

Sandpoint Realty LLC - Sandpoint, ID

North Idaho Real Estate - 208-255.6227

Hello Nicole. Sorry I am not familiar with BNI. Went to your profile and see a Welcome to Active Rain is in order. Look forward to your first post.

Best for success in AR as well as your business. Mark

Mar 17, 2015 08:48 PM

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Rainmaker
1,683,912

Larry Johnston

Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN

Broker,Friends & Neighbors Real Estate, Elkhart,IN

Networking is always a good idea, although I have never been to BNI

Mar 17, 2015 01:25 PM

Upvote

Rainmaker
2,443,250

Evelyn Johnston

Friends & Neighbors Real Estate - Elkhart, IN

The People You Know, Like and Trust!

I have been part of a networking group for years, several groups actually, and in my opinion BNI is the most serious one out there. They take their job as referral guru's very serious. Having said that, you still have to find a BNI group run right or its just like a Mom and Pop run networking group.

Mar 17, 2015 12:29 PM

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Are you a new agent? If not, keep in touch with your past clients. Sort them by interest rate or type of loan and keep them updated with where the market is right now and if a refi is in their best interest.

My other suggestion would be to write posts about the mortgage loan process and why it is not like buying a car or furniture. Compare why a credit score might pull a different number than an auto loan credit score. Write about different loan types. Educate buyers and home owners. When they are searching online they will find you.
I have been a member of BNI for 17 years. No one gives out more referrals than I do, each and every year. Last year I closed 34 transactions out of my group. I consider BNI my second best client.
BNI, success is really the luck of the draw. If you get with an exceptional group it will be productive. Of the groups I been a part of you basically chase rumors. Time would be better spend dialing for dollars. I no longer attend even with a special invitation.

My recommendation to a lender is to find a value platform that is beneficial to those you intend to help. This will distinguish you from most lenders who are selling exceptional service that evaporates at the first bump in the road. SERVICE is not value added, it is REQUIRED.

If you are wanting cold leads from the 'internet' the magic is low rates.

If you want impossible leads, but future potential the magic is 'low FICO, not a problem."

Now you really should consider HELOC's if able to do so. That is when dialing for dollars can really pay off. If you are considering BNI, you will need more in your lending portfolio than primary mortgages. If you do have more, BNI may payoff if you present your VALUE position.

With shame I must confess my over the top lender for delivering hand holding service is my Wells Fargo guy. I really don't like doing business with the big banks. They have raised the bar.

My preferred lender does all within her power to make sure a deal closes. She is as committed to the process as I am. Start thinking about how a lender can demonstrate commitment...tangibly.

Now you will be able to run with the 'tangible' concept and create your own lead generation machine. Then when you carry YOUR lead to a REALTOR, you have their full attention.

IT IS A TWO WAY STREET.
BNI is a great group. One of the members on Active Rain, Joe Petrowsky belongs to one in CT and loves it. Of course, he is a master at referrals. BNI depends on the marketplace they are in.

When we lived in the Northern Wine Country of California, we checked out 4 BNI groups, and they just did not resonate with us. Not everyone was participating full out, and a lot of guilt trips were laid. My husband and partner, Ron talked to the head honchos there and they also admitted that all groups are not created equal.

Investigate the groups in your area, and find a strategy that makes you well known and well thought of in your community. A
Thank you everyone for all the great info and feedback. What a warm welcome this is for a newbie! I look forward to learning more and making connections.
Anette, thank you for all of your recommendations. I do understand that with BNI, as it goes with any networking group, it depends on the group. I've been recruited for a new group starting a little ways from me and so the covetted mortgage position is up for grabs. I think I'll try it for a year.

My niche is definitely working folks with lower scores, and doing credit repair to get scores up when possible.I'd say that's my value position. My company doesn't do HELOCS so that's not something I can focus on.

Thanks for giving me so much to think about!
Hello Nicole. Sorry I am not familiar with BNI. Went to your profile and see a Welcome to Active Rain is in order. Look forward to your first post.

Best for success in AR as well as your business. Mark
Networking is always a good idea, although I have never been to BNI
I have been part of a networking group for years, several groups actually, and in my opinion BNI is the most serious one out there. They take their job as referral guru's very serious. Having said that, you still have to find a BNI group run right or its just like a Mom and Pop run networking group.