Mortgage Marketing Radio Episode Summary: “Stop Chasing Agents? [Voice Note]”

Episode Information:

• Title: Stop Chasing Agents? [Voice Note]
• Host: Geoff Zimpfer
• Release Date: February 21, 2025

Introduction

In this compelling voice note episode of Mortgage Marketing Radio, host Geoff Zimpfer delves into a contentious topic within the mortgage industry: the effectiveness and perception of chasing real estate agents for referrals. Geoff aims to challenge the prevailing narrative that discourages loan officers from relying on real estate agents as a primary source of business, advocating instead for a balanced, hybrid approach to lead generation.

Challenging the Current Narrative

Geoff begins by expressing his frustration with the widespread messaging across social media and industry platforms that deems real estate agents as a low ROI source for mortgage loan originators. He states:

“I’m getting a little tired of the narrative... that realtors as a source of business... [are portrayed] in a negative light.”
[Timestamp: 02:15]

He criticizes the notion that focusing on referrals from real estate agents paints loan officers as desperate or outdated, arguing that this dichotomy is misleading and harmful.

Advocating for a Hybrid Approach

Geoff introduces the concept of the “hybrid loan officer,” a professional who effectively balances traditional referral strategies with modern marketing techniques. He defines a hybrid loan officer as someone who:

• Actively engages in foundational business sources such as referrals, past clients, and their sphere of influence.
• Incorporates contemporary methods like social media, direct marketing, advertising, and lead generation into their business model.

“A hybrid loan officer... is not so reliant exclusively on referrals.”
[Timestamp: 04:30]

The Importance of Diversification

While Geoff fully supports diversifying lead sources to mitigate risks, he takes issue with the negative portrayal of referral-based strategies. He emphasizes that referrals, particularly from real estate agents and past clients, remain the most effective and immediate source of high-quality leads.

“The worst number in marketing is one. And when that one source becomes disrupted... so is your business.”
[Timestamp: 05:45]

Geoff underscores that while modern marketing methods are valuable, they often come with a lag time before yielding substantial results. In contrast, referrals can provide immediate and high-converting leads, which are crucial for maintaining a steady business pipeline.

Insights from Successful Originators

Drawing from over 300 conversations with top-performing mortgage originators, Geoff reveals that referrals continue to be the primary source of business. He notes that only a small percentage consistently rely solely on organic social media for lead generation.

“When I ask them what their number one source of business today, it still is going to be largely referral partners...”
[Timestamp: 09:20]

Case Study: Nate from Florida

Geoff highlights a case study featuring Nate, a successful mortgage originator from Florida, who attributes approximately 30% of his business to teaching agent classes. Nate’s approach exemplifies the strength of building meaningful relationships with real estate agents rather than aggressively chasing them.

“Nate gets a 30% of his business... he’s leading from a position of strength and he’s attracting.”
[Timestamp: 12:10]

Balancing Immediate and Long-Term Strategies

Geoff advises loan officers to focus on securing “now business” through referrals while simultaneously investing in modern marketing strategies for long-term growth. This dual approach ensures both immediate revenue and sustained business development.

“If you need now business today... a healthy amount of attention and focus on the right real estate agents... will pay off for you.”
[Timestamp: 15:00]

Conclusion and Call to Action

In wrapping up, Geoff reiterates the value of maintaining strong referral partnerships with real estate agents while not neglecting modern marketing avenues. He encourages listeners to embrace a hybrid strategy to optimize their business growth.

“Don’t be misled... real estate agents are still the alpha referral partner.”
[Timestamp: 17:50]

Geoff invites listeners to engage with his community through his agent classes and promises further insights in related podcast episodes. He concludes by seeking feedback and fostering connections with his audience.

Key Takeaways

• Referrals Remain Crucial: Real estate agents and past clients are still the top sources of business for mortgage loan originators.
• Embrace a Hybrid Strategy: Combine traditional referral methods with modern marketing techniques to diversify and strengthen lead generation.
• Long-Term vs. Immediate Results: Recognize the different timelines for establishing relationships through referrals versus building a presence on digital platforms.
• Successful Models Exist: Learn from professionals like Nate who effectively integrate referral partnerships into their business model without resorting to desperate tactics.

Notable Quotes

• “I’m tired of the narrative that it’s one or the other.”
      — Geoff Zimpfer [02:45]

• “The worst number in marketing is one.”
      — Geoff Zimpfer [05:50]

• “Nate is leading from a position of strength and he’s attracting.”
      — Geoff Zimpfer [12:15]

• “Don’t be misled, real estate agents are still the alpha referral partner.”
      — Geoff Zimpfer [17:55]

Final Thoughts

This episode serves as a powerful reminder to mortgage loan originators to value and nurture their referral networks while also exploring and investing in modern marketing strategies. Geoff Zimpfer effectively counters the negative narrative surrounding referral-based business, providing actionable insights for sustained success in the mortgage industry.

Connect with Geoff Zimpfer:

• Instagram: @GeoffZimpfer
• Podcast Website: MortgageMarketingPro.com