What do I do next now that I have received the two videos pertaining to the $2,500 Buyer’s Incentive Program?
If you are interested in marketing this program from watching the first video on why you should market this incentive program, then the next step is to let Emil or Tony know so they can notify our Marketing Team to start creating your personal video, e-flyer by text and flyer by email. Second step is to forward the email that you received called “Do you want to partner up with our participating Loan Officers?” to potential sales representative partners that will send you loan leads. If you did not get it, then we will email to you. See sample 2nd email flyer below on what you need to forward to your potential sales representative partners.
Once you send it to them, then do a follow up with a phone call to get their feedback. Just call it an exploratory conversation and if they do not agree, then move on to the next potential partner. It would be their loss as it is free to them and would have saved them money. Below are their benefits in participating in this incentive program that you need to point out to them:
1. Ask “have you ever given your Buyers anything of value after you successfully closed a purchase sale” and most have. Do an exploratory question, “maybe a thousand dollars or more?”. Tell them, “what if I took over that responsibility of giving money to the Buyer instead of you after the close of escrow, AND for me to deflect and give you the full credit for the $2,500 incentive, because it is you who introduced me to the Buyers?” “Do you think you can possibly get more sales leads or referrals from giving this $2,500 to the Buyer without ANY money coming out of your pocket?” “How does that sound?” “You will keep all of your sales commission and not have to worry about sharing your sales commission with the Buyer as $2,500 would be enough for them.” “There is nothing for you to lose and remember, these Buyers will need a loan anyway, and why not use us to help them?” “Just like if your car broke down, you will need to get it fixed anyway right, but why not use a company that can give you back something in return with the same cost as other mechanics?” “It can be a gift certificate or a discount and that’s exactly what we are doing in exchange for the Buyers to use BOTH our services?” “Do you think you will stand out from other agents and get more sales leads by giving money to Buyers for their moving expense, new appliance or home repairs or anything they want to do with the money at NO cost to you?” “My goal is for you to get the full credit for giving this $2,500 to the Buyers so you can potentially get referrals from them and we can do this process over again.” “It will be a win win for the both of us.”
2. Remember, there are hundreds of thousands of licensed sales representatives in California and getting a small amount of them (target – 50 sales representative) to help you get loan leads is your goal. You are giving them a tool to win over new clients over other agents. Your goal is to pre-approve 15 to 20 loans per month with at least 3 loan closings or more per month. Let your loan processing team do all the heavy lifting for you and for you to continue looking for new partners. If there are loan issues (ie credit, DTI), they will let you know immediately. Also, these closed loans will be your future refinances later. With this program, you just multiplied yourself to look for Borrowers for you. Also, if they are NOT active in sales, then that is ok as you can do a referral fee agreement and give them 25% from YOUR sales commission and still give $2,500 to the Buyer from your loan commission. Look into ALL licensed sales representatives, no matter active or not, as potential lead generators.
3. Once they agree to being a partner with you, then your next step is to send them an e-flyer (see below sample) by text AND the same flyer below by email with your contact info that they can FORWARD to their potential Buyers by either text and/or email. Our Marketing Team will notify you when your e-flyer (text version) and email flyer are ready. They will text the e-flyer to your phone that you can save and forward to your partners.
Once received by the Buyer from your partner, then they can scan the QR code to access the video to learn more. After watching the video and Buyer accepts to move forward, then they will scan the QR code which will link to your REGISTRATION webpage. Please remind the partner to follow up with the Buyer and to remind the Buyer to add their name as referee to the registration OR the partner can tell you who they have sent the e-flyer to so you can look out for their registration. Once the registration is filled out, then Diane will send the Agreement through Eversign to all parties (Buyer, Partner, LO and Emil) for esignatures to note that the Buyer will receive the $2,500 incentive AFTER the close of escrow. You need to send the Pre-Approval Online application to the Buyer asap. Also give them a courtesy call to let them know that you will handle their home loan. Good luck and keep on doing this process repeatedly with your referral partners. Please see attached Incentive Agreement. Please be familiar with it as there are no lock in requirement for the Buyer so they can cancel at any time. This will make it easy for them to participate.
Additionally, you can start building your own team by recruiting these sales representatives to join our company and get an override of a flat fee and/or percentage from their production called Net Branch. See sample below:
$10,000.00 Total Sales Commission completed by your Team Member
– 495.00 Broker Flat Fee
– 400.00 Flat Fee Override to Net Branch Manager (you)
__________
$9,105.00
X 20%
__________
$1,821.00
$1,821.00
+ 400.00
__________
$2,221.00 Total Paid to Net Branch Manager (you)
$10,000.00
– 2,221.00 Net Branch Manager Override (you)
– 495.00 Broker Fee
__________
$ 7,284.00 Paid to your Team Member
By offering the $2,500 Buyer’s Incentive with your Team Member, you can possibly get most of it back from override. You are helping them get sales lead with the incentive program and they are helping you with override. Win win for the both of you. Click here to watch the video on how it works.
Lastly, you can also do both sales and loan and why not market the incentive program for yourself.
