Welcome back to the Think Bigger Real Estate Show. This is Justin Stoddart, your host and I'm really excited to be here tonight in Nashville, Tennessee at Funnel Hacking Live with a good friend of mine Pedro Adao. I even said it with a Portuguese accent.
Wow, I wasn't expecting that. Tell them why you know that.
So, I speak Portuguese. In fact, you're probably my best use of that for the past 20 years, meaning, I haven't used my Portuguese much at all. So this is going to be fun.
He has good Portuguese enunciation. I was pleasantly surprised. He said my name right. It's very hard. It's a very hard name to say. Beautiful Man.
So this guy, very, very successful financial planner and has achieved at some of the highest levels in his industry. He's also built a movement of Christian entrepreneurs. Maybe some of them in fact, who I've seen that have liked your page. You have some fans in Portland, Oregon.
100x Academy has hit Portland.
Yes, 100x Academy. If you don't know what that is go take a look at it. Ben Rose, he was the guy in my area that I remember that had liked your page. Yeah, he's a videographer. He might be watching this and if not, I'm tagging him in this video.
So Pedro, I'm going to talk tonight about financial planners and real estate agents. I work all day, every day with real estate agents, helping them have better businesses and better lives. And this guy, again succeeds at a really high level as a financial planner and as we began to talk, we realized that there's some commonalities, some common struggles and woes that real estate agents and financial planners face and some potential opportunities that you and I are talking about helping them to explore.
Honestly, for me it makes no sense. This is like one of, probably the most under underutilized potential relationships. I know there's BNI and other networking type concepts, but like for real, if you're a Realtor, instead of having to go beg for leads from your mortgage lender, which if you have a lender that will do that--amazing. Alright, I mean that's, obviously still worth pursuing but also having two or three life insurance agents. Then you can network with and you can send them a lead, and guys, an insurance agent, a good insurance agent is in someone's home two, three, four, five times a week! And, and these are people, they obviously own a home or are looking to and they obviously met with their life insurance agent, which means they have some level of wherewithal. They love their family and care about their family and this is like ideal for a Realtor.
I want to expound upon that. You think about when a life insurance agent is inside a home, it's typically when they're getting married, when they're having a new baby, when maybe they are getting ready to retire, all of which are triggers for real estate agents to say, Hey, somebody might be moving here. You're adding a baby to the house, you're getting married, you're thinking about life insurance and you're probably also thinking about a new home. Like there's often like a perfect connection here in that they need both of you at the same time.
And what's happening now is there's a big industry called mortgage protection. Mortgage protection is a whole industry that the life insurance industry has created on the back of loan activity. There are life insurance policy companies that send direct mail to these homes offering mortgage protection.
I get them like weekly probably.
Okay. Hey, if something happens and you can't pay off your mortgage insurance. Most Realtors out there might not not know this, but most of these mortgage protection offers, they're not great plans. These are not awesome. Yeah. This is basically overpriced term insurance. So if you're a Realtor and you care about your client, if you sell them a home, what I would do is as they move, tell them,
"Hey, by the way, you're going to get hit with direct mail for this thing called mortgage protection. Don't do that. Ignore those letters. I actually have so-and-so, he's an expert here in town. He'll go over all the options for you and get you the best product for you at the best possible prices."
Because if you don't do that, your homeowner, is was going to go to the mail, open the letter--and this mail is very deceiving, these companies make their direct mail look like it's from a Wells Fargo or look like it's from Chase Bank. They literally make your mail look like it's from the lender. "Attention homeowner in regards to your mortgage in regards to your loan amount..."
They make it look like it's the lender and in small print at the bottom it says "Not the Lender", but most homeowners are going to submit this form, which becomes a lead for the insurance company. They literally thought they had to fill it out.
That's how deceptive this industry is, so if you're a Realtor or a loan officer, why would you not take one minute to give a heads up to your client and then actually refer them to an integral, high quality insurance agent in your town that can go serve them. And then that agent is going to be like,
"Wow, thanks for the lead. What can I do for you?"
Reciprocity, right? So stop chasing the mortgage guy because he's got 10 realtors wanting his business and there's 100 life insurance agents that no one's talking to. So there's a natural potential marriage here. And the fact is like there's no competition. It can be a great to be a great partnership and it's just instant. I don't understand why, to me, a Realtor, a life insurance agent and a financial planner, it's like peanut butter and jelly.
Here's what we're going to do, for everybody that's in the Think Bigger Real Estate group, I'm going to get these scripts from Pedro and I'm going to put this in the group so that you can actually approach, new buyers of a home and know exactly what to say to them and then also how to approach life insurance agents and say exactly what you need to say to them to add big value to both sides. And then at that point it'll be pretty obvious that if you're working with a right person, there's going to be some reciprocation.
I want to thank you for your time--killer stuff. Again, this guy does a great deal of business in life insurance. He's the guy that really understands this who is speaking from experience. There is opportunity here that's untapped by real estate agents.
And guys, I'm from marketing, like I'm big into marketing and Facebook ads and sales funnels. I am at Funnel Hacking Live. I'm a two comma club winner and I believe in marketing, don't get me wrong. It's not like I'm recommending to just go to your warm market, warm market, warm market. I believe that you should be running traffic and should always be building your list. I mean like why not have a couple of these guys in your Rolodex that you're working with. I mean, it just makes sense.
So yeah, I'll get those scripts to you.
Awesome--thank you for tuning in. I really appreciate it everybody. Again, if you're not yet a member of the Think Bigger Real Estate group, go find it on Facebook. These assets will be there. And if this has been valuable, please share it out. Let's get this out to more people.
