The Transition from Refi to Purchase

As rates have risen, we are moving from a refinance to purchase market.  That means all loan officers must change their focus.  Remember, everyone else is doing the same thing. What is your approach going to be?  Here are a few idea to help your production immediately….

Call your top 10 Realtors with these purpose(s) –  pick at least one purpose for each call. 

  • See what prospects they have. Tell them you have a new program  and that program will get them off the fence with a pre-approval and ready to buy.   
  • Ask them what prospects were rejected by other lenders and why?  Ask them if you could review their case with them.
  • Offer to sit in a busy open house with them and help them by prequalifying prospects. Perhaps they are assigning a rookie to the house and could use an experienced person there. Or, find out what other marketing events they have planned (seminar, booth, networking meeting)—and offer to go with them. 
  • Set up at least two lunches with Realtors every week for the next four weeks to drill down further on these goals.

Call all previous prospects you did not close (including previous customers that were looking to refi) in the past six months.   Make ___ calls per day.

  • If they did not do business with you, did they close somewhere else? If they did not act, are they still planning to act?  If the did close or are not planning to act—would they recommend you to somewhere else?  Feel free to use “guilt” as a weapon.
  • If you could not qualify them, has their financial situation changed?   If the reason you could not qualify them is their credit score and they are less than 75 points away—if you can show them a way to get their credit score up—are they still serious about buying or refinancing?   Recommend a company that will work on their score and/or help them lower their debts – don’t do work yourself.    If you don’t have one–email me at
  • Call your most referred Title/Closing/Escrow/Attorney company and ask them to introduce you to a real estate agent that either does not have a close relationship with a loan officer or their loan officer’s bank is doing a poor job from a service perspective.  

We are going into tax season. 

  • Call three accountants or financial planners you already know and find out who they are recommending could use more tax breaks by purchasing a house. 
  • Use these referrals to leverage more business from Realtors.

It is marrying season!  Go display at a bridal fair. Did you know that 50% of marriages result in a home purchase or listing within 12 months?

Hold an event for your top referral sources. Realtors, financial planners, even customers.  Choices?

  • Hold a barbeque at your home or in your association clubhouse.   Call it a special thank you or a networking mixer.  You could even just order pizza and have some libations.
  • Hold a seminar for referral sources that are in business.  Topic:  maximum sphere marketing.    If big enough bring in outside speaker.
  • Get invited to three Realtor sales meetings. Possible topics: Maximum sphere marketing and  the three economic reasons for home ownership.  Not an expert in these? Email me at
  • Whatever event you choose—make sure you have at least one partner/sponsor to help cover the cost and help market it.  Such as a title company. 

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