Lack Of A Team Is Costing You Business!

February 15, 2017

Business Planning

An experienced team will increase your profits and increase your business and save you time!

Are you surrounded by an experienced team?

In today’s market, it’s imperative to have an experienced team of professionals around you. Even if you’re a solo practioner without any personal assistants, you can do this.

Let’s look a few people outside of your office that can be vital to having a successful real estate business:

Mortgage Consultant – You need to align yourself with a mortgage lender, who has years of experience, communicates frequently with you, and has a staff that knows what they’re doing behind the scenes.

There is no such thing as an easy deal any more when a buyer gets a mortgage. It’s also okay to have a couple of other lenders when a client wants a second opinion, but hopefully your preferred lender can provide quality service, competitive interest rates and timely closings.

(On a side note, you should promote experienced lenders that you work with as mortgage consultants, not loan officers. When you talk with your clients, showing that you work with a group of professionals, not salespeople, exudes confidence and can give your clients peace of mind.)

A great mortgage consultant will also save you time when you have your prospects and clients contact them to be pre-approved. If you think back in your career, there have been times when you showed homes to unqualified prospects, because you believed them when they ‘said’ they could get a loan, but hadn’t talked to a lender yet. We’ve all done one time or another. Now your mortgage consultant will be able to tell you if the prospect can afford what they think they want to buy and you won’t be spending gas money on a prospect’s pipe dream.

Title Co. Rep – A title company is as important as a lender in making you look good or bad during a transaction. So many closing tasks happen behind the scenes and if a title rep isn’t doing their job effectively, they can cause you massive headaches. You know what I’m talking about. If you don’t, when you have a closing as a listing agent, you’ll see which title companies are bad real quickly.

With all of the short sales and foreclosures happening in the market, your title rep can be your deal saver. Without them, you could end up with a lot fewer closings.

When’s the last time you received a closing statement 5 days prior to the closing? Does your title rep order the seller’s payoffs? Does your title rep ever step in and take the lead to help you eliminate the problems? A great title rep will do all of these things for you and make you look good in front of your clients.

Home Inspector – In my opinion, a home inspector’s purpose is to inspect and accurately state the condition of a property to the best of their ability at the time of the inspection as well as explain the various components of the home to the buyer during the inspection. If they are unsure of something, then they should figure it out or find an expert in the particular field who can answer it. It’s not an inspector’s job to make you look good, but to protect the buyer’s interests. The more experience an inspector has the better….a minimum of several hundred to a few thousand inspections under their belt is ideal. In my state of Ohio, we still don’t have licenses for home inspectors, so I don’t want my clients going through the Yellow Pages and end up finding some newbie inspector. If a property inspection reveals a bunch of latent, material defects, I want my client to know it, so they can decide if they want to move forward or not with the transaction.

These professionals need to be a part of your core team. They can help you identify, qualify and close on the properties that your clients want. I do believe in giving your clients and customers recommendations, but the cream does usually rise to the top when it’s time to select the various professionals.

If you don’t have a core group of professionals or only a partial group, don’t rush into finding just anyone. You need to take your time, watch and build a rapport to make sure you have the best professionals surrounding your team.

There are other professionals that you can add to your core team, such as a termite inspector, insurance agent, financial planner and others. Think of who else can help and be a benefit to your clients.

It will make a difference in your business and you’ll end up with a lot fewer headaches!

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