Steve Tytler

There is a marketing principle called “reciprocity” … which means that when you give somebody something of value for free they feel like they owe you something in return. It’s like when you do a favor for a  friend.  There is an unspoken agreement that the friend now “owes” you a favor if you need help in the future. You don’t have to say, “remember that I time I helped you … “  They just naturally feel obligated to help you out because you helped them out. Now is the PERFECT time for mortgage professionals to start storing up “favors” from real estate agents by helping them grow their business, so that they in turn can help you grow yours. At my small mortgage company near Seattle, we are currently providing a free service that enables agents to promote their listings using modern marketing tools such as single property websites, Facebook, Twitter, LinkedIn and MySpace. We offer this service with no strings attached.  We ask nothing in return.  The agents can keep sending their current buyers to their favorite mortgage lender, we don’t ask for that business. But we know that by helping those agents grow their business they will eventually feel obligated to return the favor, and that’s when we will reap the rewards for our efforts. It’s a win-win situation of the best kind, everybody ends up happy.  This is the best way to build lasting business relationships because everybody gets what they want: more clients and more money. And the reason this is the best time for mortgage professional to use this marketing strategy is because many of us are doing very well making money with refinances, while most real estate agents are still struggling with the slow housing market. Take some of the money you’ve made in the refi boom and spend it on agents who need your help to build their business.  You’ll be doing them a huge favor and they will eventually repay your help by giving you more loans in the future. The free marketing service we are currently offering to real estate agents is AWESOME and it has been the best tool I have ever found to offer real value to agents and build business relationships.  It’s so good they can’t wait to use it — and it’s totally FREE. I can’t go into too much detail here because I learned about this service at Carl White’s Mortgage Marketing Animals mastermind group and I have to honor my commitment to keep the “Animals” stuff to group members only. If you want to find out more about it,  click here to check out the Mortgage Marketing Animals membership site. BTW, some people wonder why I promote Carl White’s group so much. That’s easy: because it works! I’ve been in, or know about, almost every mortgage marketing “guru” program out there and while some of them worked great in their day, Carl’s Animals group is the ONLY one I”m willing to promote because they stay on the cutting edge of mortgage marketing techniques. We get together and swap ideas and marketing strategies and it’s unbelievable the kind of powerful results that are generated by a mastermind group of successful (and soon-to-be-successful) loan originators. But you don’t have to join the group to understand the point of today’s post: Give away something of value FIRST … and the favor will be returned later. The mistake many sales and marketing people make is to to make their pitch more about them than the recipient:  ”Send me your loan referrals because I’m a REALLY nice guy and I will take GREAT care of your clients!” Can you see how giving away a free marketing system that actually makes the real estate agent more money — with NO obligation to do anything in return — is a MUCH more powerful “sales pitch?”

Last 5 posts by Steve Tytler

• Secret to Success: Accountability - January 28th, 2010
• Instant Results from Craigslist Marketing - October 5th, 2009
• Craigslist Mortgage Marketing Still Works! - October 5th, 2009
• EXCLUSIVE: Carl White Shares Success Secrets - September 29th, 2009
• Off to hang with the Marketing "Animals" - September 24th, 2009