"A strategy that I've used over time to increase purchase business is simply to pay some attention to the listing agent, too. It's easy to make contact with the listing agent–yet so many times it falls into the 'too busy to do' category." - Marty Preston

Q. What is the time commitment required?

A. As you can see there really isn't much to this other than setting the discipline to do it. Make it a habit, part of your process, and it's done.

Q. What action steps would LTB members take to execute this idea?

Step 1: Recognition
We input the name of the buyer's agent and listing agent into my database as soon as we receive the purchase contract. All contact information is also researched online and inputted.

Step 2: Welcome Packet
Send the listing agent an email that includes your team members' names and the roles each member plays on your team.

Step 3: Introduction
During my 20-25 minute commute home, I call the listing agent and make a very, very simple introduction. Here is a sample script:

"Hi. My name is Marty Preston and I am working with the buyers of your property at 123 Anywhere Street. You will receive an email from me tomorrow that gives you a brief update with a projected timeline as well as my contact information. If you ever have any questions just give us a call."

Step 4: Weekly Update Email
The first email that I send gives a brief outline of the loan and a projected timeline INCLUDING the closing date. It also has the contact information for my office. The client, buyer's agent and listing agent will receive this email and will receive additional emails each Tuesday afternoon until the loan closes. The key is to be consistent!  

Step 5: SPECIAL TOUCH
Send a handwritten card to the listing agent, the buyer's agent and the client simply telling them that you appreciate the opportunity to work with them. This is HUGE for the client because they oftentimes are going through buyer's remorse and this will affirm their decision to work with you. It obviously adds a nice touch for the Realtors as well. For an example of what I write on the handwritten cards that I send, click here.

Step 6: Email the HUD-1 to the listing agent
Obviously you should send the HUD-1 to the client and buyer's agent too, but the listing agent usually gets left out of all the good stuff. Call the agent to review it with them and to let them know when the closing has been scheduled.

Step 7: Handwritten Note/Gift   
Send the listing agent another handwritten note telling them how much you admire the way they handled the process and advised their client. You can send them a small gift (book) if you want but it's not necessary. This is done post-closing-- but within a week. 

Step 8: Survey
Let's see how it went! Send a survey via email and ask them how you did. I send the Customer Service Survey from LoanToolbox. After all, it's much easier to ask for an appointment with someone who you know likes you.

Step 9: Interview
Meet with the Realtor and ASK them questions. Start with personal, move to professional and then get into specifics. I always ask them for 1-2 things a lender has done in the past that both impressed them and irritated them. My favorite question is to ask them to name 1-2 things that they would love to implement this year but might be too busy to get done. This gives me my "IN."

Step 10: Presentation
Meet with the listing agent again within 7 days to discuss how you can help them improve their service and more importantly implement the 1-2 things they might be too busy to get done.

Q. What results can be expected, or if this is something you are doing in your own business, what results have you achieved?

A. If you perform each of these tasks throughout the process, during the timeline I've outlined above then I honestly think you can expect to add 1 out of every 2 listing agents to your list of partners, at least. Our batting average on this is over .750 when the process is implemented to perfection.

Q. Do you have any resources that correlate with your idea that you would like to share with members?

A. We have created the following documents below specifically for our team. They are very simple to swipe and adapt and create on your own. Each of these documents is key to use throughout your loan process.

Customer Service Survey

Handwritten Card

Marty Preston is one of the newest additions to our Contributing Faculty. Visit Marty's Faculty Focus page to learn more about him–and listen to his short interview with Sue Woodard.