Last week we discussed the legal considerations, now we'll take a look at the value of marketing agreements between mortgage professionals and agents.
By Dave Hershman
Special to MPA
Second Part of the answer to this question: I am being asked by a team of real estate agents that I know to become a marketing partner by signing a marketing agreement. I am not sure whether this is even legal. Is this something I should consider doing?
Special to MPA
Second Part of the answer to this question: I am being asked by a team of real estate agents that I know to become a marketing partner by signing a marketing agreement. I am not sure whether this is even legal. Is this something I should consider doing?
Tyler from California
Last week we discussed the legal considerations, though we emphasize again that we can't give legal advice. We also discussed the relationship with the agent as a prospect or a regular referrer of business. This week, let's focus on the value both parties may deliver. For example, are you being provided with an office to conduct your business? This is important both because it is a measurable value, but also because it gives you a base to reach out to the agents, which would make the generation of referrals easier.
Is there a regular sales meeting in the office? If so, are you invited to present each week? This is an opportunity again to deliver value, but also giving you premium access to the agents participating in such meetings. How about open houses? Will the agents display your financing materials and perhaps let you host the open houses with them? Can you conduct training sessions for new and experienced agents in the office? Obviously, there are many ways to deliver value to your agents--but it must be a two-way street. That means you have to receive value and deliver value as well.
Make sure all the details are nailed down before you make a decision
Do you have a reaction to this commentary or another question you would like answered? Email Dave at [email protected].
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].
Is there a regular sales meeting in the office? If so, are you invited to present each week? This is an opportunity again to deliver value, but also giving you premium access to the agents participating in such meetings. How about open houses? Will the agents display your financing materials and perhaps let you host the open houses with them? Can you conduct training sessions for new and experienced agents in the office? Obviously, there are many ways to deliver value to your agents--but it must be a two-way street. That means you have to receive value and deliver value as well.
Make sure all the details are nailed down before you make a decision
Do you have a reaction to this commentary or another question you would like answered? Email Dave at [email protected].
Dave Hershman has been the leading author and a top speaker for the industry for decades with six books authored and hundreds of articles published. His website is www.originationpro.com. If you have a reaction to this commentary or another question you would like answered in this column? Email Dave directly at [email protected].
