Why Real Estate Agents Need Loan Officers More Than Ever

I had a no bull conversation with a real estate agent Tuesday.

That RE agent is my dad’s neighbor (and fellow high school wrestler). He’s been in real estate for 23 years.

We’re sitting on my dad’s shaded porch just outside of Albuquerque, NM. It’s like 90 degrees in the shade, but that didn’t stop him from spilling the beans about the real estate industry.

I pulled out a magazine from this elite company called Santa Fe Properties.

The magazine is filled with pages of luxurious southwest homes. It touts Santa Fe Properties as the crème de la crème of real estate: $321 Billion per year sales volume… brokerages in 50+ countries across 6 continents… most 1M+ listings… You get the point.

So he takes the magazine and thumbs through to the profiles section. There’s about 100 agent profiles. Most of them he knows personally.

As he flips through their familiar faces, here’s what he tells me…

20% of those agents make 80% of the sales. The majority of them have a second, part-time job! Moonlighting luxury real estate agents.

Winner takes all in this game.

Nothing is ever what it appears on the outside. I’ll be honest. I thought each one of those luxury real estate agents is on top of their game. Like they all know something the rest of us don’t. There must be some secret among the elite.

Sad truth is, they’re struggling just like the rest of us.

So don’t be fooled when you come across their elitist demeanor. It’s just a front.

Knowing this, you can change the game and start crushing it.

There are two ways to close more deals and never have to worry about when your next commission check will come in.

1. Stop hoping, wishing and waiting for RE agents to hand you referrals on a shiny platter. Those referrals are not easy wins they can throw around like popcorn to the birds. Each referral costs them time, money, energy, salesmanship. And showing houses is very dangerous as my dad’s neighbor shared an incident that happened to him. It’s dangerous even for men!

2. Step up to the plate and bring your own leads to the table. Why should RE agents to do ALL the heavy lifting? Why not do your part in this relationship? All successful relationships have one thing in common: give and take. I don’t care if it’s your friend, beloved grandma, spouse or your dog. All of your relationships revolve around give and take.

How long do you keep giving to people who never give back? Moochers, right? If give and take is out of balance, the relationship doesn’t work. Those people eventually fall away.

Despite how it may seem, most RE agents are struggling to make ends meat. They need your help more than they’ll ever admit to you. Bring them your own referrals and watch your partnerships flourish. You’ll start getting their referrals in return. That’s the cycle of give and take.

The more you give, the more you will receive.

About the author

Stephanie Vigil

Customer Acquisition Specialist

I'm the Co-Founder & Customer Acquisition Specialist at The Lead Reel. I build custom blueprints for loan officers with one purpose: To turn the "average Joe" into a top performer. Before starting The Lead Reel, I worked in tech in San Francisco, CA.