Regardless if you are an originator or a manager, you must always have a place and a plan for recruiting. For originators it is recruiting new referral partners; for managers it is recruiting new originators. Depending on each set of needs, the process would appear different, but is really pretty much the same. It’s all about setting the targets and then scheduling the activities needed to execute the plan.
Recruiting for me has always been less about “selling” the company or the brand as much as it has been about problem solving. Instead of telling the world how great you or your company is; it often works much better to identify with a common challenge and provide the solution to that challenge.
When originators are looking to expand the number of referral partners they have, it is important to be sure they know what exactly they are looking for. Are you looking to expand with just anyone who might refer business, or do you have a specific set of needs for the types of referrals? It is simple enough to look at what you are trying to accomplish and create a realistic number of targets. An example I like to use is if you are looking for a referral partner that can send you one new transaction per month, you need to find someone who can send you two or three opportunities a month. You will also need to target three or four people so you end up with the one person you are looking for. It is also important to do a little bit of research into your targets to be sure the people you are targeting are really the people you want!
When targeting originators, you can’t just look for top producers to leave and come over to your side. While it would be great just to target the best two or three originators in your market, reality dictates you need to also look for more average originators that you can help grow into those top producers you need. Again, sometimes it is easier and faster to grow three or four originators with your better system than to pick off a top producer. Helping a 2-3 loan per month originators go to 5-7 loans a month will not only help your business, it will also give you a larger number of potential targets.
Now that we have looked at targeting, we do need to look at the final two pieces of the puzzle which are solving challenges and consistency of contact. Solving challenges is a pretty simple, ask what challenges people are seeing and resolve those issues. In today’s market we have a few issues that come right to the front that cover both areas, one is dealing with TRID. By now it has become pretty obvious the people and the companies that have a handle on TRID and can get deals closed in thirty days or less consistently. You either can or you can’t. If you can, find those that can’t and bring them over. Realtor® and originators alike are finding that the public doesn’t care what the process is as long as they close on time. Those who can still close in thirty days or less have a huge competitive advantage; use that advantage to secure new relationships or acquire new originators.
Last but not least is being committed to the recruiting process. You must have a plan and schedule the time to act on that plan. For both originators and managers, it is important to create a consistent long term strategy for connecting. It may take, days, weeks, months, or years to get the attention of your target. You must not give up until that target tells you to leave them alone. Even then, calling them back once a year to see if they are still happy is a good idea, just remain consistent and courteous. Schedule regular days of the week and month to make recruiting calls or visits.
I will have much more on recruiting in this month’s coaching call. For those of you who are clients, you will get your invitation to that call shortly or you can just replay it from the website after January 27th. For those of you who are not clients, now may be a good time to think about investing into “ACCESS!” With “ACCESS” you enter the world of the client’s site that contains all the information. Every webinar, training, all the podcasts, e-books, scripts, fliers and support materials are always available 24/7. One small monthly fee with no long term contracts gets you all the ACCESS you will need to take your business to the highest level.