A great many agents and brokers have difficulty building their businesses, and according to a real estate and mortgage consultant, it’s because they lack a certain system.
“I used to work in the mortgage industry,” said Daniel Iannacito of Iannacito Enterprises. “That’s how I got into this. I was working for a CIBC in Toronto and I couldn’t generate business on my own. Part of my role at CIBC was to get business for mortgages and investments—although mortgages were the bulk of my business—but I couldn’t get there the old school way of calling and closing deals. So I developed my own system through trial and error and found a system that works.”
Iannacito divides mortgage brokers into two groups: Type-A and Type-B. The former consistently deal with quality clients and, therefore, close more deals and make more money. Unfortunately, the majority are the latter.
While Iannacito is reticent to give away his tricks, he proffered this much:
“I run ad campaigns for different types of clients. Some mortgages brokers are looking for first-time buyers, others are looking for refinances, others for investment properties. I try to turn all my clients into Type-A brokers. Many brokers are Type-B and those are the ones who spend all their time prospecting. I can turn them into Type-A brokers in three to six months.”
Iannacito generates appointments for brokers through a sales funnel in which clients select an appointment time in a schedule, then fill out a survey—“different brokers ask different questions, but the purpose of the mortgage is important,” he said. Before the broker has a phone call with the prospective client, Iannacito briefs and coaches them.
Iannacito stresses that there are no quick fixes and is apprehensive to take on clients he doesn’t believe will commit to his program. However, Tracy Spooner did.
For a long time, her business was predicated on referrals but after branching out, she says it was worthwhile.
“The Facebook ads are direct leads—people are looking specifically for what you’re advertising, so they turn into transactions a lot faster,” she said. “Since we started a marketing plan, I’ve noticed a good increase in my business and more closed deals.”
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