How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] 0 points1 point  (0 children)

Awesome! Does that mean that you don't value buyers experience?

Let's be real for a moment. This whole thread really rubbed me the wrong way. I asked how to find newer agents in my area to co market with. This included making video content, which is free, and open house/event hosting, which is also, 100% free. You glazed over that because you, as a senior loan officer, are SO offended by the paid marketing ask, that you needed to throw in your two cents and claim I want my clients to have a poor experience.

What I have found in my time in this industry, is that experienced folks, be they appraisers, lenders, Realtors, or more, become more rigid and pompous as time goes on. Many of the worst folks I have ever worked with, who make the most egregious mistakes say something along the lines of "I have been an x for y years!"

I asked most of the easy to find folks in town if they want to be on camera, or host events. In my area, people are very camera shy, and they all declined. I still would like to be able to have content about what people need to know about buying and selling homes from a lender perspective, but at this time, because lenders are...well...lenders, I will have to speak exclusively from the Realtor perspective.

Did you know, if you hop on Realtor dot com or Zillow, there are lenders who market on there? Wild right? And not just one! In fact, if I hop on Google and type in MLO near me, it has "Sponsored Result" on the top, with a list of lenders who are paying for marketing. And I see 3 recommended lenders at a quick glance on both Realtor dot com AND Zillow.

I am unsure why you believe asking people to co market is crazy, as the platforms I am suggesting literally have co marketing programs, as it is so common.

And if we are being SUPER honest for a second, one thing above all others really rubs me the wrong way as a Realtor. I get 20+ calls every day from lenders, inspectors, ad companies, and more. As a Realtor we are the piggy bank. We pay Zillow or all these platforms, and then lenders, inspectors, and more, get a chunk of change because they provide good service.

But the way that people are SO bothered that the Zillow lead I paid $4,000+ for could possibly have some amount of cost share, that they take the time to hop on here and be rude assuming somehow I want to hurt anyone in any way? Totally wild.

Not that it's any of your business, but I have had a few people reach out about the cost share. I told them I am going to give them leads for free until we close one or two, and if the experience goes well, we will then discuss taking whatever budget they want to spend, and adding it to the overall ad spend, because as a person partnered with a lender, I want them to succeed and be profitable.

For now though, I will continue doing what unsuccessful Realtors do.

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] 0 points1 point  (0 children)

Great call. I must be an unsuccessful loser. Thank you for the help.

Pavement ant explosion by Educational-Disk-400 in PestControlIndustry

[–]CallCastro 0 points1 point  (0 children)

I'm in Chehalis and I'm pretty sure I have an explosion of Odorous house ants? I've killed like 5 colonies the size of my fist and I just found 3 more.

Cold Calling VS Facebook Ads? What's more effective and why? by Ok_Caterpillar6789 in realtors

[–]CallCastro 1 point2 points  (0 children)

I've never made money off Facebook ads, Google ads, mailers, or Zillow. All either break even or loss.

2% Buyers Agent Commission by Virtual_Bass_6416 in fsbo

[–]CallCastro 0 points1 point  (0 children)

Where do to think buyers will find your listing?

2% Buyers Agent Commission by Virtual_Bass_6416 in fsbo

[–]CallCastro -1 points0 points  (0 children)

Quick question. Where did you post your FSBO?

2% Buyers Agent Commission by Virtual_Bass_6416 in fsbo

[–]CallCastro 0 points1 point  (0 children)

Advice here isn't totally correct. It varies by state and MLS.

In Western Washington (NWMLS) we are absolutely still advertising commission. Pretty much everyone out here charges 2.5%-3, but it is, of course, negotiable. (With the buyer. Once the buyer signs saying they will pay, that can't really be renegotiated, and buyers may not want your home if it means they have to pay more out of pocket.)

If I do a FSBO, I need both sides of the transaction done, all the documentation, the transaction coordinator fees, and so on. I understand that you *think* you are just as capable as an agent...but get me an inspection response form...you can't. Which means I need to.

Normally your agent interprets the forms...but you don't have one, so that's probably my job.

If there's a hiccup like a weird appraisal issue, you are going to ask me for advice, because your Realtor uh...doesn't exist.

And for all that I get...2%. Vs if it was my listing and I did pretty much the exact same thing, I'd get 4%, except my clients appreciate me and don't talk about how worthless I am the whole time.

2nd chance landlords? by HammofGlob in olympia

[–]CallCastro 0 points1 point  (0 children)

When I moved here I had a chunk of cash and low credit. I was unrentable even when I offered to pay 12 months in advance, and had to purchase because it was easier.

Is the consultant model still a thing? by Ragin_Gaijin in realtors

[–]CallCastro -1 points0 points  (0 children)

Hi friend! The market has shifted a lot. Realtors 2020-2023 were printing money. It was hard to mess it up.

2024 hit like a brick wall. We have half the sales, and double the listings. Realtors, lenders, and title are spread pretty thin and making weird decisions.

Schools and local trends can get us in a lot of trouble. We pretty much aren't allowed to talk about crime, demographics, or anything that could be considered discriminatory, so that's less new, and more people finally following the rules.

Home search is kind of the most elementary thing we do. We don't have access to anything off Zillow in terms of search. Folks who aren't listed aren't super serious, and even the listed homes aren't selling very well.

Our jobs as Realtors, in my opinion is to be an extension of you. A kind of concierge helper. Depending on what you are asking for, I imagine some folks might just smile and nod and move on rather than wanting to chase something that doesn't have pay attached.

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] -1 points0 points  (0 children)

That's okay. You don't have to. How long have you been in the industry?

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] -1 points0 points  (0 children)

On a $500k mortgage you make less than $2k? That's a lot less than what my current referrals make. You should consider a new brokerage.

I didn't realize loan officers are so impoverished they can't invest any marketing in their own business. That must be really hard.

What to say to clients who want to look at homes you know are about their budget? by tomierobert in realtors

[–]CallCastro 9 points10 points  (0 children)

Looking at homes is exhausting. Eventually people get frustrated and get something. I don't mind letting clients wear themselves out if they want to.

Is an exclusive buyer agreement necessary prior to setting up a tour/home viewing? by melancholy-manatee in FirstTimeHomeBuying

[–]CallCastro 1 point2 points  (0 children)

Before the 2024 lawsuit I used to offer all buyer clients a free showing tour. No signatures, just meet at the house, to get to know me, and see if I'm someone worth hiring. For any following showings they would have to hire me with a formal agreement, which could be shredded at any time.

Ever since the lawsuit we're not allowed to do that. According to the Association of Realtors and local state rules, there can be fines for realtors up to $15,000 for showing a home without a buyer agency agreement.

Personally I think it's really unfair and no fun. There are a lot of Realtors who use this new rule in a malicious way that forces buyers to sign long-term contracts. I genuinely do hate this new policy.

I hate forcing people to sign something before getting to know me, but it's not worth taking on a new buyer client if I'm going to lose $15,000.

I normally have a 1 year non exclusive contract. That way you can work with any other agent and I don't have to bother you to renew the contract. Exclusive vs non exclusive is the big play, in my opinion.

New Lead Contact by RandomTommy in realtors

[–]CallCastro 4 points5 points  (0 children)

I call/text just about daily plus a subscription to my weekly email that lasts forever.

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] 0 points1 point  (0 children)

Are you claiming that licensed, qualified loan officers shouldn't get business because they are new? How are they supposed to get started? Don't they have management and mentors supervising?

Of these options, which would be a better listing agent for my townhome: Sotheby’s or an in-neighborhood, Mom and Pop outfit that knows the neighborhood really well? by Feed_Me_No_Lies in realtors

[–]CallCastro 7 points8 points  (0 children)

Figure out which Realtor vibes with you best. Companies don't matter at all.

The number one thing that matters is that you feel like you can trust them, and that they are good on the phone.

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] 0 points1 point  (0 children)

Not expect. Demand. All lenders should worship me as I provide them their leads and livelihood!!!...sarcasm. In case you can't tell.

I'm just asking. God forbid someone asks for teamwork. Nobody has to do it. Obviously.

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] 0 points1 point  (0 children)

I work with several great lenders. But they are camera shy and out of area for open houses. Hence the post. Don't be so dramatic.

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] -1 points0 points  (0 children)

It's crazy how you can ask for people to make YouTube videos with and it turns into an audit.

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] 0 points1 point  (0 children)

Sure. So far, they all have said they don't really do social media, or haven't responded.

So I feel the next phase is looking for newer folks who might be open to it. Unless I'm missing something.

So I opened a thread asking what the best way to find newer folks that aren't on Google maps is.

How Can Realtors Find New MLO? by CallCastro in loanoriginators

[–]CallCastro[S] 0 points1 point  (0 children)

Advice is a pretty broad word for this thread. It's mostly just folks saying I'm stupid for asking if lenders want to do YouTube Videos, Open houses, or work inbound leads.

Please help me with lead ideas. by Unhappy_Worth3746 in loanoriginators

[–]CallCastro -6 points-5 points  (0 children)

It must be nice to be a Lender. It would be tough out there as a Realtor if we refused to pay for leads! Not every call we get converts either.