Listing Agents

Your Easiest Yes

This program is directed specifically at the LISTING AGENT in the transaction. An attempt to get 10 out of 10 requests for a sit down. Ideally, you will utilize Wednesday to be your day to interact with each listing agent involved in your transaction. Why Wednesday? That is generally one of the “slower days of the week with a higher probability of getting a listing agent’s response.”

I have been an agent since 1985, have reached the pinnacle of top agent in many large firms. Yet, I have only had 2 Loan Officers ever ask me for a “sit down” to talk about what they could offer me. I took both meetings.

I am curious, of every 20 loans you do for agents, that involve both the buyer’s agent and the listing agent, how often out of 20 times do you ask for the listing agent for a “brief sit down?” What if half said yes? Would you start asking listing agents for meetings?

Captured Audience – Your Easiest YES
If there is ever a time a listing agent wants to hear from a loan officer, is when the property is pending. There are generally only three times they want to hear from you. After it closes, the listing agent has no need to meet with you. Book your meeting prior to closing!
  • Good news, everything is going well, all is on schedule
  • Good news, the property appraised
  • Good news, all is set for closing, thank you for your patience
Agents do not need to receive 7 pre-templated emails sent out from an autodialer. This is a relationship and you don’t need many agents to get to a million more in closings per month.
How To Kill The Opportunity
Just ask for a loan extension. The way to kill the opportunity to build a relationship with the listing agent is to say, “the building inspection resolution took so long that we did not order the appraisal, so I need a loan extension.” Even if it is not your fault – you will be seen as the villain. Your name will be passed around the office like wildfire but in a bad way. “Never do a loan with Bob the LO!!!”

Here is what makes matters worse. The request for loan extension seems to come on the day of loan commitment. It must be assumed that the seller is going to say, “Why yes, I am happy to extend the loan commitment. It would be my pleasure to put myself at risk after the buyer beat me up in the building inspection resolution.” The seller will pummel the listing agent. No! No! No, is the seller’s first reaction. The listing agent is put in a pressure cooker.

The seller, is usually furious! The seller will be very angry. Who gets blamed, even if the LO had nothing to do with the problem? The LO is the villain. The cause of all of this pain is laid at the feet of the LO. The buyer’s agent starts it, “it’s not me, it’s the LO.”

Changing loan commitment often means, dare I say it, the LO will ask to change the close date. Never thinking it has a ripple effect with 2-3 other deals tied to this.

Assuring the Listing Agent – Ease Their Mind
You want a sit-down with the listing agent. This is the EASIEST YES you should ever have. They have a vested interest in knowing “you will get it done.” Yet – in my career of over 2500 sales, it has happened only twice.
Ask and You Receive

Email The Listing Agent:

Sally,

I will get the appraisal on time. You can count on me. I will take the risk and order it. I will make loan commitment on time. I will have the funds for closing. I will do my best to close the buyer in the early morning.

In doing so, I would like to see if I could meet you at Starbucks or at your office, or perhaps online in a 15 minute session, to walk you through a training program I am in that is certifying me as a resource for agents.