As I spend more and more time looking for new business sources, I realize I have been neglecting to capitalize on one that is close, able, and willing to create opportunities. My current referral partners.
I have now gotten in the habit of consistently asking them not only for referrals to borrowers, but also to their friends and co-workers who might be a good person to know. My definition of someone good to know:
1) Someone influential or a frequent advisor among their friends.
2) Someone who is excellent at what they do to whom I can comfortably refer business to, thus serving my clients as their advisor.
3) Someone in a related or tangential line of business. For example, realtors and lenders should all have a good relationship with a divorce attorney.
Even though real estate has one of the highest rates of divorce of all professions, that isn't why. In almost every divorce, there are associated real estate transactions. One person refi's to buy out the other, or they sell, and one or both buy a new home. There are up to 3 potential transactions in every divorce. Yet few realtors or lenders pursue that. They do open houses, and complain that no one shows up, or they come in preapproved already.
Who can the people that you know put you in touch with? You might surprised by the answer.
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