Weekly Objective: Identify your preferred vendors and establish relationships with your industry partners.
Monday: Title & Escrow
Wednesday: Home Inspector
Friday: Other Industry Affiliates
This week, your focus is on compiling a preferred venders list. These are industry affiliates that you will work with often and develop a relationship with. Your preferred venders list is important for a few reasons:
- Transactions wouldn’t happen without them!
- Their timeliness, communication, and professionalism impacts your clients’ satisfaction. Good partners = smoother transactions = happier clients.
- Having industry partners boosts your value proposition when talking to potential customers.
- Many agents choose to co-brand their marketing/mailers with one of their industry partners. If you do this, your industry partner pays for half of the marketing, saving you money!
Becoming a cohesive team with your industry partners, especially your title officers can make a huge difference for your customer – and a good team can help create seamless transactions. Buyers and sellers love working with preset teams because it means they can work with a team of professionals that trust each other and work well together to provide the best experience for their customers.
Monday’s Objective: Find a Preferred Title Company
As a Realtor, one of your primary industry partners is a title company. Finding a Title partner that you trust and can effectively communicate with is paramount to seamless closings.
What is the #1 thing you should look for in a Title Partner? Excellent communication.
Your title officer should understand your role and your customers’ needs in the closing process.
They need to explain their forms in a way everyone can understand.
The escrow process is complex – but good communication and an educated Title Officer can make the process easy and straightforward for you and your clients.
There are 7 Title Companies servicing the Treasure Valley. Linked below are the websites for each company. Explore the website and learn about the company, their resources, and their value added:
**Want the advice of your fellow Silvercreek agents? Go to the Silvercreek Agent Forum and search “Title”. You can see previous posts of agents recommending their Title representative of choice.
- Take a peak at the websites of the 7 Title & Escrow Companies
- Need extra input? Search “Title” in the Silvercreek Agent Forum on Facebook. You can find recommendations from other Silvercreek agents.
- Contact two title companies and set up meetings with representatives.
- After your meetings, decide which one you want to work with, at least for your first transaction. Make sure you have all their contact info so you’re prepared for your first deal!
- Create a list to write down your industry affiliates and their contact info.
- Best place is your CRM system, but if you want it elsewhere it can be in a contact book, on your phone or computer, in a binder, however you prefer. But also add them to your CRM.
Those few couple deals, pay attention to make sure you jive well with the title officer you’re working with: Did they meet their deadlines? Did you close on time? Do they communicate with you well? Was it an easy process for your customers? Did you and your customers have a good closing experience? Was the escrow process simple, fast and efficient? If not, you can always search for a new title company. Luckily, we have a lot of fantastic Title Officers in Idaho and it’ll be easy for you to find a great partner!
Tuesday’s Objective: Finding a lender
Some buyers you work with will have a lender/loan officer in place prior to contacting you, or know who they want to go with – but many, especially first-time home buyers – look to you for a recommendation.
Building trust with a lender will help assure you that your clients are in good hands and that there will be no unexpected delays in the buying process.
Look for these characteristics when partnering with a lender:
Accountable: Your lender should be able and willing to invest time into your clients, take the time to explain what your clients can do to ensure their loan is approved, and pre-approve them prior to beginning their home search.
Open Communicator: You should get regular updates from your lender regarding the client’s loan approval process. As you work with your lender, figure out what communication methods work most effectively for the both of you, so you can have clear, consistent ways to reach each other.
Has Diverse Product Offerings: Conventional? FHA? Reverse Mortgage? You don’t know what type of buyers you’ll be working with in the future or their specific needs. Make sure the lender you partner with has a diverse line of offerings.
Experienced: Go with someone with a proven track record (this will be especially since you’re new to the business and they can help strengthen your value proposition and answer questions you might have, as well as your clients.) You can search for lender recommendations on the Silvercreek Facebook Forum. Type “Lender” into the search box and see past recommendations from your fellow agents.
A Good Fit: Some agents prefer mortgage brokers while others prefer bank lenders. Learn the difference between a mortgage broker and a bank lender, decide which lender type you feel would work best with you and best for your clients.
Willing to Partner on Marketing: Looking to do direct mailers or print fliers in the future? You can cut your cost in half if your lender agrees to partner with you.
- Decide whether you prefer to partner with a mortgage broker or bank lender.
- Research your options and narrow down your choices.
- Make the calls. Talk with a couple lenders and decide on one you’d like to work with in your first couple buyer’s transactions.
- Add their contact info to your industry affiliates list (and CRM if separate list)
Make sure to check in with your clients as they work with the lender and ask them about their experience. When all is well and they’re raving about the lender, dial them in as your partner/preferred resource.
- A REALTORS Guide to Partnering up with a Lender
- The Difference Between a Mortgage Broker and Bank Lender
- Facebook Forum
Wednesday’s Objective: Identify 2 home inspectors you would like to work with
You can always have a go-to home inspector, but it’s good to have more than one option in the queue, especially during the spring and summer when business picks up and inspectors get busy. You you’re your home inspector to be thorough, efficient, and reliable.
Our advice? Trust the advice of your fellow Realtors – check the Facebook Agent Forum. Type “home inspector” into the search bar (*note – you do NOT need to post to the forum and ask who they recommend, other agents have already done that. Use the search function to read PAST posts, you’ll find more results and can easily get all your recommendations that way ?).
- Identify your home inspector options in the Treasure Valley
- Call 2-3 inspectors and ask their value proposition – what makes them great?
- Add them to your industry affiliates list (& CRM)
Thursday’s Objective: Learn more about your marketing options
You’ll use print materials as a real estate agent – open house or listing flyers, business cards, postcards or other mailers, etc.
Silvercreek Realty Group has partnered with a few companies to help agents with their marketing needs.
Bear Printing – Brochures, perma flyers, open house or listing flyers, door hangers, postcards, business cards (can do a personal design or the Silvercreek standard business card). They have fast turn-around and great prices. Access through SCOFFICE.NET – Cards & Flyers
Client Appreciation Postcards – Each month features a new design with a different deal for a local company – Usually a BOGO or % off for a service or experience. Access through the Toolbox – Marketing Tab
Silvercreek Agent Services – A variety of services, including flyers and newsletters. Access through the Toolbox – Marketing Tab
- Explore the above companies and what they offer.
- If you do not have business cards, order yourself a pack through Bear Printing.
- To access Bear Printing: go to SCOFFICE.NET, you will see “Cards and Flyers” in the menu bar at the top. It will bring you to your own order page with Bear Printing.
- Click on “Company Products”
- Choose your business card!
Friday’s Objective: Identify other industry affiliates
Your industry affiliates list should now be taking shape and you should have the beginning stages of partnerships forming with those on it. Along with your main industry partners, there are many other industry affiliates you’ll work with as a real estate agent. If you craft a complete affiliates list now, you’ll save time and energy when working with buyers or sellers.
Who are others you’ll want on your industry affiliates list?
- Moving and storage
- Home stager
- Cleaning services
- Home Insurance
You won’t use these companies for every transaction, but by having their contact info in your list, you can easily access them the times you do need them.
Some ways to find other affiliates for your list:
- Google search – see your options, read reviews on different companies
- Facebook Agent Forum search
- Check the Meridian office – we have some trusted vendor brochures and business cards out in the lunch room
- Add to your industry affiliates list/CRM – include contact info, what the company/person offers, etc.