How to Whale Hunt
Identify
Intro
Court
Convert
- Realtors – Whale Hunts
- Call 150 Realtors a week.
- Friday text videos to Realtors.
- Call the Realtor after EVERY contact with the borrower.
- Call weekly for 30 weeks.
- First 10 calls – I’m hungry, you’re a whale, I’m going to keep calling until you give me a deal or get a restraining order.
- Next 10 – don’t you appreciate my persistence?
- Last 10 calls – don’t you think I’ll take better care of your people than your current people
Alfonso: Chase Realtors
He chases 15 Whales at all times. One he chased a Whale for four years.
The other speaker followed up every Tuesday for 14 months before he got the rescued deal. She was still loyal to the original lender after that. He kept following up and got a second rescue deal. That’s the one that made her change to him.
- Chase the Listing Agent
- Buddy system – the Realtor introduces you to another Realtor.
- Targeted List – you make the whale list.
Alfonso calls 150 Realtors per week. He called 50 Realtors Monday and then 25 Realtors per day. About 1/3 blows him off.
“A” Realtor is someone that closes 12 buy-sides a year. A “Whale” does 24 per year.
Remove the Realtors that are on the list because they’re “cool.”
Alfonso: “what if I can make you an extra $100,000 in the next 12 months WITHOUT your changing your existing mortgage relationship?” For Alfonso, it’s 7 deals to make the $100k. He can show how he can get CCRs, convert better/more, and occasionally generic an organic lead.
He brings a blank lead tracker for them with instructions.
We are going to meet every month to review the lead tracker and make sure we’re on track for the $100k. It’s a monthly reoccurring meeting. (Alfonso currently has 13 Whales with a monthly reoccurring appointment. His goal is to have 20 Realtors). He has 5 of those Realtors in the Core.
He emails every agent a weekly report of their leads from Refinity
He then shows his Lead Tracker. Highlights conversion rate, FU program, and CCRs. He can help covert deals the their lender doesn’t.
For every 10 leads you refer me; I guarantee that I’ll refer 3 back to you.
Give me your old leads. With 10 leads, alfonso will PQ 60%, then he’ll close X.
Alfonso has 98 leads this month, 46 are Realtor leads, and 38 are CCRs.
ON a scale of 1 to 10, how cared for do you feel today?
Carson is a VIP. Let’s me tell you a secret about Carson, he’s too humble to ask for a referral. Will you help me find more one client for Carson? Do they own a home? Carson can do a free analysis on the home to let them know how much equity they have in a home. If not, Schutto can help them find a place. What are their names?
Grad Class
Oleg thinks every Realtor works with 4 LOs. The good news is that he can be a lender to anybody’s agent.
Oleg: how does he get on their level. He invites via phone 2 weeks before an event, then emails 1 week before the event, then texts the day before and the morning of.
When someone gives him a goal: “I want to close 25 closings.” He asks: “why not 30?” It gets them to think and find the pain points. Fill their needs.
Let go of the ones that don’t want to be coached or grow.
Carson Vaughn: The agents have the audience, we have the content.
Carson thinks he works with 25-30 Realtors. Wants 50 to 60 Realtors.
Oleg is now in 22 states and wants 2 deals per month from each. He adverstises in those markets. He does 25% of biz out of state. They have 500 Realtors in the database. This includes the targeted agents, in relationship, etc.
Two types of calls: acquition calls and retention calls. The team is the retention calls. Team does 10 Retention calls per day. They came up with 10 reasons / talking points for retention calls. It’s a matter of training, scripting, etc.. (See the Account Executive quadrant).
“From on the fence to the closing table”.
“Give me your toughest lead that has been someone that stinks. Then call the Realtor all the time. Explain what you did to a lead and make sure you list out all the details. This demonstrates the process and how good we are. Then ask “who else do you need us to follow up with?” It’s not about the lead, it’s about the process. Update the Realtor EVERY time we touch base of a client. The old “I sent them Wayne’s info, the credit video, and emailed the agent” won’t cut it anymore.
“I believe it’s not a matter of ‘if’ but ‘when’ they will buy a home, and I want them to do it with me.”
Tuesday Updates need to be to the co-borrowers too. They have their own network of peeps.
“All I want to do is be ONE of your lenders.” I’d love to be your backup lender.
“give me a shot on the bench”. You’ve worked with your lender for 5 years, but in the biz for 15 years. Let me be on the bench so that you know me in the event she’s on vacay, you need a quick PQ, there’s something that she can’t do, etc. etc. etc.