“Opportunities Inside”

As we roll forward into buying season, we need to remind ourselves that busy is the enemy of productive. Being busy doesn’t make you money, being productive does! So as soon as you think you are feeling overwhelmed or out of control, it’s time to engage your systems and trust your timelines.

What I like to have all my clients do is construct a timeline for how a transaction will flow. Each of us needs to know what our turn times are and set a specific schedule of events and actions that need to take place, and do so over your transaction timeline. Doing this, will allow you to schedule your work and know when it’s time to get back into your files. This type of structure helps manage your time and also helps set an expectation for your team and creates focus!

Creating specific actions associated with your process is also very helpful. One of the most often overlooked areas for originators is actually prospecting opportunities for new deals or referral partners from the actual transaction itself. I call this “Prospecting from the Process”. In almost every transaction you are going to have opportunities to create new relationships. New potential referral partners, new potential clients, and the opportunity to find these, right from the very transaction you are working on. The big bonus is, it only takes a few minutes of specific action to take advantage of these opportunities found right inside your current deals!

Let’s take a look at just a few:

• The Realtors® involved on both the buyer’s side and the seller’s side. Call them the day you receive the deal and set the proper expectations and share the process timeline. Communicating a few times during the transaction on a predetermined schedule show knowledge and expertise. A simple “Thank You” note on closing day and a strong follow-up call a week to ten days after closing helps open the door for new referrals!
• Tax returns offer the potential of an accountant to connect with or a potential referral to an accountant. Accountants have large numbers of clients that own, or should own homes! An annual review for those people can lead to big opportunities.
• Those working the higher end markets will run into financial planners and money managers. These professionals are always in control of a large number of clients and their recommendations are often followed. When you run into one of these financial professionals, work to get an appointment by sharing specific financial information and presentations on exactly how this transaction will go, and what the options you presented their clients. A great presentation can win you an opportunity to meet with that planner and offer them real value for their clients.
• Pay close attention to divorce papers! Divorce attorneys are great referral partners and often welcome a strong originator to assist their clients in either buying out a former spouse, or helping the client get into a new home.
• Don’t miss the insurance professional. While most insurance people don’t see a client until the deal is well on its way; insurance professionals have databases with homeowners who might benefit from moving or refinancing; or they have renters who might benefit from home ownership!

There are many opportunities inside each transaction. You just need to take a few minutes on each file and identify potential targets. These people can be the warmest of warm calls because you already share a common client. Identifying yourself to them during a transaction can be the first step in a very productive relationship!

Questions or comments: Mike@IMTcoaching.com or visit us online at http://imtcoaching.com