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Make an Insurance Professional Your Real Estate BFF

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A Real Friendship with Real Estate

When it comes to business relationships, having a personal connection to your insurance professional can be a real benefit to someone in the real estate business, especially mortgage lenders and realtors.

Get in Touch Anytime

Erika Close – Missoula, MT

When you have a regular line of open communication with your insurance professional, like the skilled folks at PayneWest Insurance, you’d be shocked how a simple check-in can lead to big business.

“I field calls on Saturdays and after hours all the time,” notes Erika Close, CPRIA, AFIS, sales executive, private client group at PayneWest. “Having that personal relationship with an insurance professional makes them more likely to pick up the phone and talk outside of normal office hours. People on both sides are more willing to put themselves out there and have those deep conversations.”

Make Sure You Get the Whole Story

When you have a deeper relationship, and have shared information over a longer period of time, you’d be amazed the details that can be shared between two professionals. The conversations that you might share with your insurance professional benefit the clients, but they also help improve knowledge between two partners in business, says Close.

Close offers tips for real estate professionals and mortgage lenders. “Know what your clients are like,” she says. “What types do you usually service? Lots of log homes, off-the-grid homes, manufactured homes or even a particular subdivision. Knowing that information and asking questions about that area can help me help their clients.”

Know What to Say, and What to Ask

Real estate agents and mortgage lenders both should be “oversharers” when it comes to property details. For example, here are some items you might not think of, but which can affect policies:

  • Dogs: dog bite claims stay open for a number of years and can affect the homeowner policy.
  • Trampolines: there are companies that it’s not a big deal for, says Close, but it’s a matter of knowing who to refer the client to.
  • Fireplaces: these pose less of an insurance question than woodstoves do, so make sure to note exactly what’s on the property.
  • Horses and Cows: livestock can affect homeowners in certain parts of cities as well as counties, especially in Western states like Montana or Idaho.
  • Outdoor structures: they should be part of the conversation as they may not fit in just one box on a form. Sometimes in our area, they can even be more expensive to insure than the house.

When was the last time you talked to your insurance professional? How well do they know you and you know them? If you’re not sure, then don’t hesitate to contact us.

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