Life&Style Magazine – Brian McCauley Explains Why Quality Relationships are the Difference Between Success and Failure
You can’t give a mortgage to just anybody and the lender isn’t going to take a loan out if there isn’t a house to buy. Real estate agents don’t have much of a job if they don’t know anyone who’s looking to buy or sell a house. In this business, in any business, you need people. But, more than that, you need relationships and the quality of your relationships is the difference between success and failure.
Dallas based mortgage man Brian McCauley wouldn’t be where he is today without the relationships he cultivated throughout his successful career. McCauley is a certified mortgage advisor and CORE Level 3 graduate who has originated over $800 million in loans.
“It goes without saying that you need skills and knowledge to succeed, but who you know and who knows you, are equally important,” says McCauley. “People often overlook and forget the power that networking and making connections with the right people holds.”
McCauley explains that, especially in the mortgage industry, referrals are key, whether you’re finding clients or building a new partnership. “Clients usually come from referral partners, and that’s why you need to build connections all over the place and build a network of trust,” he says. “As you construct a network, referrals build on each other over time, and it starts to snowball from there — you refer your clients to other business partners and they refer theirs to you.”
Cultivate Long-Lasting Relationships
Think of your network like a garden. You need to water it or everything will die. That’s why Brian McCauley usually checks in with everybody three or four times a year. He keeps his garden alive. “You can’t have that ‘Here are your keys from the house, see you never’ approach because you will miss out on thousands of potential clients. My approach is more ‘Here are your keys, I’m going to put my arm around you forever’ and it works magnificently.” And these aren’t just phone calls. They can be, but Brian also will throw client appreciation events, parties, and workshops. He’s looking to build relationships for the long term.
Diversify Your Relationships
“You have to have a lot of different people in your network because you never know how you will benefit from them,” shares Brian McCauley. That’s why McCauley looks for relationships in some “non-traditional” places compared to some other mortgage lenders. He looks beyond people like title companies and real estate and insurance agents to divorce attorneys and wedding planners. After all, recent divorcees are usually looking to buy or sell a house, and a wedding is a perfect time to settle into a beautiful new home.
Building a Community
Those who want to succeed in their professional life simply can’t do it without a proper network built on a foundation of quality relationships. But building one isn’t necessarily easy, especially if you’re new to the industry.
Brian McCauley’s advice, if you’re just starting out, is to utilize social media, attend networking events, and join a networking group. Dive into the industry and provide value to others and be a great person to work with. “When it comes to the internal network, most of the top people I work with are agents, and I get to meet new faces through clients, events, and referrals in the industry,” says McCauley. Make sure you’re building relationships that are mutually beneficial. As he puts it, “You do need a lot of different people in your network but [also] you need to target only those who can benefit you and who can benefit from you at the same time. That’s the only way to get where you want to be.”
On top of these “modern approaches” McCauley also frequently utilizes an old-school approach. “If I’m unable to meet them through events and clients, I usually do a cold call and say ‘Hey, I know you’re a big person on the block, I see your name all the time. I’m a big fan, let’s grab a coffee and see how we can get together and work on more opportunities.’” Don’t be afraid to ask, but remember to have patience. If you ask someone what it takes to work with them and they say a $6 million dollar listing and you’re not there yet, don’t get upset. They just gave you an in. Keep working. Keep going and when you get that $6 million dollar listing, pick up the phone and give them a call and, with any luck, they’ll be there.