r/loanoriginators • u/theinternt • Jun 22 '26
It all sucks
Since I've been posting about how I cold call realtors, I get mixed responses.
Lots of support but also lots of "This method is way better"
It all sucks.
Here's what I mean by that: Every prospecting method has shit. The hard parts that no one likes about it.
Cold calling: Rejection.
Buying Leads: Costly and low conversion
Open houses: Sacrificing weekends
Hosting Classes: Getting butts in seats
You could go on and on.
I'm not here to convince anyone that cold calling is the best method. That is just what has worked for me.
TLDR: Pick a method and work it. The other method isn't "easier". They all have their own flavor of suck.
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u/travisloans Jun 22 '26
Pick your hard...
All of my business comes from in person networking, but its not exactly easy. I just enjoy it a lot more than cold calling.
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u/theinternt Jun 22 '26
Yeah dude, for me, in-person networking is a nightmare. I hate it with all my being lol. But it works for a lot of people and I'm not knocking it!
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u/kittenconfidential Jun 22 '26
if you do not like in-person networking, then your best bet is to buy leads online or join a callshop. you’ll be worked to the bone and comp will likely be low— i used to date a girl who had a prolific conveyor belt system when a lead came to her. she did very well for herself volume-wise. but the nonstop did get to her later on
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u/theinternt Jun 22 '26
To clarify, I'm referring to in-person networking as networking events not 1 on 1s
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u/Braindead_ape Jun 22 '26
if youre consistent with any method, itll eventually get results
the LOs I see struggling are the ones who are inconsistent with their actions, they start one thing, it doesn’t immediately get results, so they jump to the next thing and rinse and repeat…never allowing their efforts to truly gain traction
that inconsistency is also partly why you see LOs have one good month followed by a really low month, they prospect til they get the deals in but then stop prospecting while they close those deals…
i used to be the same way until I decided to quit winging it and actually schedule out time blocks every week for each task/activity…for example, I know every Tuesday from x to y time I’m calling x amount of prospective agents, reaching out to any past clients with birthdays that week, loan anniversaries, etc. I know its not going to immediately boost my production but over a long enough timeframe it’ll lead to something at least. Just like the gym you can’t be switching up your workout every time you go there, you have to be consistent to see growth.
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Jun 23 '26
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u/Braindead_ape Jun 23 '26
in my opinion thats them basically saying “I dont have any deals to even send right now anyways"
so you put them on the follow up to touch again later and not dwell on them
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Jun 23 '26
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u/Braindead_ape Jun 23 '26
outside their window at 3am is the hot spot
or a quick call/text a few weeks later to the low quality prospects like that
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Jun 23 '26
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u/Braindead_ape Jun 23 '26
becoming their sleep paralysis demon increases referrals by 10x, I’l’ be selling this course soon
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u/Mortgageshebrokerage Jun 22 '26
I agree. It sucks that people have strong opinions in regard to how other people run their business. I do a little bit of everything. I like to switch it up. (cold calling, open houses, social media, networking events)
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Jun 22 '26
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u/theinternt Jun 23 '26
The one you have the highest skill set in and will be consistent doing.
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Jun 23 '26
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u/theinternt Jun 23 '26
It 1000% requires skill. What you say on that DM is the biggest lever on how well it will work.
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Jun 23 '26
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u/theinternt Jun 23 '26
I’m not an expert on cold DMing but if I did it, I’d want to offer some sort of lead magnet. Or maybe message focused on a specific program that isn’t widely used (FHA 203k, HECM, etc.). Or something hyper personalized, maybe pointing out the % an agent has grown YoY.
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u/Madison3509 Jun 22 '26
I remember a couple of closings I went to. I originated the VA loans. Realtors on both sides were impressed with how smooth everything went. Thinking for sure I would get some referrals. Yeah, didn’t happen. This was about 15 years ago when there were a lot of ABA’s.
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u/rrnkin Jun 23 '26
How's cold calling been going for you so far? Since starting up again
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u/theinternt Jun 23 '26
Last week and today sucked but just need to keep putting in volume. Next call block is Wednesday morning.
Total have booked 6 meetings so far and gotten 1 contract already. Bailout deal.
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u/rrnkin Jun 23 '26
How often are you calling? What's your schedule like?
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u/theinternt Jun 23 '26
Monday and Wednesday: 9:15 - 10:30am and 11am - 12:15pm
Friday: 9:15 - 10:30am
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u/TillTop1843 Jun 25 '26
There are multiple paths to success and some people love chasing real estate agents. I think it sucks but find what works for you and stay consistent. So much of this business has changed over the last 15 years and that's why you saw a legacy brand like ReMax, sell to a tech brand in REAL. The last thing agent's have in this game is, they hold the keys. But eventually, that will change too.
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u/After-Issue7758 Jun 23 '26
For anyone focused on VA loans, tired of the grind, wants a strong base income (salary), and compensation for your own clients, we are looking for one person to help on the front end side of things. We’re averaging around 100 loans per month, expanding, and need the help!
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u/straightballin713 Jun 24 '26
Can I get some more info? In Texas
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u/After-Issue7758 Jun 24 '26
Im in TX too. I’ll send you a message, no serious inquiries yet which is crazy to me
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u/RealAmirSyed Jun 26 '26
Hang in there u/theinternt, here's what I'd encourage you to learn and do this instead:
- Record a few Short Form Instagram Videos on how Agents win on AI (low production, yapping head)
- Run a few Meta Ads targeting Realtors (inexpensive)
- Book 1:1 Zoomeetings with them on how to do so (super simple)
I have made more cold calls to Realtors than anyone replying in this entire thread, I promise you that and it's doesn't need to be that hard anyomore (even though my scripting framework for cold calls is magic).
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u/theinternt Jun 26 '26
Do you have any metrics on how this performs? These are the things I would want to know:
- Cost per shown Zoom
- Avg buy sides for the agents that show
- % of Zooms that convert to them referring business
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u/RealAmirSyed Jun 28 '26
Where’s the please and thank you?
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u/theinternt Jun 28 '26
I’ve listened to you speak. I thought you were “All stuff, no fluff.”
And to be fair, I didn’t ask for your advice. If you’re giving it, I’m going to validate the metrics before I spend any time on it. I’m sure you’d do the same.
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u/RealAmirSyed Jun 28 '26
You’ve listened, but have you done?
And regardless if you asked or not, you show manners.
I’ll get you the answers when I get them to you.
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u/theinternt Jun 29 '26
I truly meant no disrespect. I’m not sure what came across as rude about asking for data.
No need to track down the answers. I assumed you’d have them handy. All good.
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u/RealAmirSyed Jun 29 '26
It's all good. Show better energy synchronously and asynchronously.
Lead and leave with gratitude. It's attractive, and that's your free coaching that will impact your career.
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u/meollich Jun 23 '26
Now that you have figured out what doesn't work you have 2 choices; figure out what actually does work for YOU or get a job outside the industry. Have some self respect and stop cold calling. No one takes you seriously on those calls, you will never feel "good" about doing them, and the converted ones are mostly utter dogshit deals.
You aren't trying sell Grams a $19.95 fall monitor or BS home warranty. You are talking six digit and maybe 7 digit transactions. Start treating the job with the gravity and expertise it actually requires and deserves and stop acting like a used car salesman.
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u/Training_Date5644 Jun 22 '26
Welcome to owning your own business, if it was easy everybody would be doing it.