Philip Bender-Tymon, Hudson Valley Agents - Walden NY (Hudson Valley Agents)

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Rainmaker
749,500
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

I've never found there to be much interest. Suppose you partner with 7 agents, then all 8 of you form a marketing group. Now let's say one of your insurance clients mentions he/she plans to sell and is looking for an agent. Which of those 7 agents are you going to suggest your client call? And are all 7 of those agents going to give your card out if one of their clients is looking for insurance? The above scenario is what i've heard before. agents lost interest fairly quickly.

 Here's another scenario i just had happen.  a buyer used a loan officer at mortgage broker X a few months ago. She did good job and everything went well and closed without problems. A couple weeks ago I get a email blast from same loan officer. She was promoting herself and her company, then she added something like " If you need a realtor, contact me first. I have 3 pre-screened agents I've worked with for several years that I highly recommend....." Not that I ever expect any referrals from loan officers or anyone else, but why would any agent that is not one of her 3 favorites worry about sending their buyers to her? I think those partnerships have the potential to create negativity. I just let the buyer decide which lender they prefer to use. If I know that a problem will come up with their choice, I'll point it out and see what their second choice is, etc.

Sep 19, 2017 12:32 PM
Rainmaker
5,422,829
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Build your referral network by exchanging leads every day.

You may wish to form a networking group with regular breakfast meetings to get started.

We built a large insurance agency and found that one of our best sources for business was the regional builders association. Join and be very active.

Sep 19, 2017 09:42 AM
Rainmaker
3,130,170
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Sorry... no examples. Insurance is something people do at a time when they buy and rarely ask for referrals. Once insurance is in place we hardly ever hear of changes in providers or get asked for referrals.

Sep 19, 2017 09:26 AM
Rainmaker
1,021,668
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

Philip Bender-Tymon 

I was approved by boa mortgage marketing director to team up with one of the loan vice presidents on marketing and sharing cost after going back and forth for 4 months, When I sent them the USPS bill asking for split. They told me it meant my name is on the list. A lawyer followed up sent them a letter.  Since I did not get a response, I closed my bank, investment accounts all together. I am still on good terms with BOA loan VP but it is limited to send me open house loan brochures.  It is a one way street. You promote them they gave you endless propaganda to pass out. They don't even come help you market your home.

With loan broker I sent her endless referrals and leads and 4 closings. I got one call asking me why you sent these crappy leads to me? His credit score is just 600.  I want you send me leads on Super Jumbo inquiry from those with LTV, DTI blah blah. I have a buyer and I will take her showing homes this weekend myself. Good bye. I never got a lead  not even once from her. 

Right now I just refer to our in house lender and I see him selling homes sometimes since he is also a RE broker.

Sep 19, 2017 07:14 PM
Rainmaker
851,861
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

The issue IMO is they deal with so many agents that sending referrals would appear to be favoritism and ruin their business

Sep 19, 2017 05:27 PM
Rainmaker
377,050
Susie Kay
Ultima Real Estate - Plano, TX
North Dallas Specialist

I've never had my insurance company referring me to any clients eventhough I have referred them to my clients.  It will be good if they can send me referrals as well.

Sep 19, 2017 04:12 PM
Ambassador
895,298
John Meussner
Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, - Walnut Creek, CA
#MortgageMadeEasy Walnut Creek, CA 484-680-4852

It's very tough to have a beneficial business relationship with insurance agencies, although like clients, it only takes one good one to sing your praises to bring in some business.

 

The problem is, insurance is usually one of the last parts of the buying or refinancing process, so by the time the insurance agent knows their client is looking to buy a home or refinance, the process is almost done.

Sep 19, 2017 02:26 PM
Rainmaker
1,620,616
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I don't have an axample Philip Bender-Tymon because I've never had any luck with it. I like my agents, do a lot of business with them, but I will be darned if I get any business from them even though I refer them to others. If they didn't have the best rates I'd explore working with someone else but as it is they save me a lot of money and give me good service.

Sep 19, 2017 01:34 PM
Rainmaker
525,654
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Beware of the "P" word.

Sep 19, 2017 01:08 PM
Rainmaker
3,300,958
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

My referrals to insurance agents always turned out to be one way.  

Sep 19, 2017 12:59 PM
Rainmaker
1,246,882
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sorry, I don't have any insurance providers I work with.  It tends to be something that people already have and look to bundle with existing plans.

Sep 19, 2017 10:10 AM
Rainmaker
1,163,251
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty

No idea. 

Sep 16, 2018 12:00 PM
Rainmaker
3,053,541
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Roy Kelley nailed this one!

Sep 20, 2017 05:20 AM
Ambassador
3,350,748
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

HI Philip! I was having lunch with one of my lenders today, telling him how many lender calls I get each day. He told me that he gets that same number from insurance agents!  I am guessing that seeking top lenders in the area, taking them to coffee or lunch and providing a valuable service to their clients would be the best way to get started.

Good luck!

Sep 19, 2017 08:10 PM
Ambassador
2,358,004
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

    Insurance agents host "lunch and learn" classes at the Board Office. 

      They shoot out email blasts such as: "Do your clients have insurance concerns or problems after Hurricane Irma?  Call me for personal answers to your clients' questions." or other timely topics. 

      Some host socials after 5PM at model homes or upscale new listings. 

    That's how they get their names and their B-cards out to the real estate community.

Sep 19, 2017 07:01 PM
Rainmaker
1,543,260
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Nope I'm 'tight' with my loan officers who I work with more often & more closely.

Sep 19, 2017 12:15 PM
Rainmaker
1,548,850
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

We never have, but let us know if you enjoy any success

Sep 19, 2017 11:42 AM
Rainmaker
5,035,405
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Sorry, I'm no help on this one....

Sep 19, 2017 10:41 AM
Ambassador
1,644,070
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I partner with the best service combined with the best rates and it makes the ROI better for investors.

Sep 19, 2017 10:38 AM
Rainmaker
1,329,187
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

When I was active, I did some marketing cost sharing but no actual partnership.

Sep 19, 2017 09:39 AM
Rainmaker
1,599,548
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

No idea

Sep 16, 2018 11:55 AM
Rainmaker
565,513
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

I tried partnering with an insurance company for my tenants. Didn't work out.

Sep 20, 2017 05:23 AM
Rainmaker
4,432,217
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

no

Sep 20, 2017 04:47 AM
Ambassador
4,300,542
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Philip Bender-Tymon - never thought of that - yet. Good idea for sure.

Sep 19, 2017 11:18 PM
Rainer
239,572
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

Never had much luck with loan officers or insurance agents. Like the majority have said, it's seems to be a one way street.

Sep 19, 2017 08:03 PM
Rainmaker
3,983,315
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Being a partner with others just never seems to move forward

Sep 19, 2017 05:09 PM
Rainmaker
3,202,181
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

I have 2 insuranceagents that I send business too but hav not got anything back yet.

 

Sep 24, 2017 09:07 AM
Rainmaker
4,104,643
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I work closely with a few loan officers who refer me business, have not partnered with insurance agents.

Sep 21, 2017 07:22 AM
Ambassador
4,264,689
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

We do a lot of appraisal work for insurance companies, but that is about all so far.

Sep 20, 2017 07:17 AM
Rainmaker
4,797,386
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I would be very cautious about partnering with others.  Referrals are something better.

Sep 20, 2017 06:38 AM