Obtaining Deliberate Referrals

Mortgage and Lending with Union Home Mortgage Company NMLS 296403 OH 027386.000

Many of us are still out there running around trying to figure out how best to market to buyers and sellers, as print media is failing the grade where it once set the standard for advertising and marketing. More and more we see that prospects are shopping the Internet for information about properties and mortgage financing products.

I still find that reconnecting with my inner circle of friends, networks, and clients is still one of the most effective tools of marketing, but it cannot be a passive system most loan officers and Realtors employ, but one that is planned and deliberate, continously employed in a drip system, and value added to the prospect.  I see a lot of mortgage and Realtor coaches out there with similar systems and believe they are all gravitating towards developing Internet leads, but are placing less emphasis on working your existing client base and network.

My confession is that I am as guilty as some of you out there relying on business partner referrals only, or leads generated by some website. Although this is effective to a degree, one cannot put all of their eggs in one basket as this as sole source of obtaining business.

Your soul searching begins with asking yourself when was the last time you CALLED your clients, just to catch up on what is new in their lives? Trust me, they DO want to hear from you, but not about a listing or the RATES. Strike up a casual conversation and many times they will volunteer to ask about business. I always tell them that business is Great, but I always have time for them or someone they care about most. Never complain about being too busy, or how businesss sucks. Sends the wrong message. So does asking for A REFERRAL! Really! Most clients other than those in networking groups do not truly understand what a referral is. What it isn't is someone who ALREADY made application for a loan, or someone who WROTE a bid offer on a home. Describe what a lead from them would look like, and how best to connect with that lead. Don't waste your time giving them your business card to give to them. Studies show that 1 out of 10 will actually deliver that card to the new prospect. Be creative, and have them call to introduce them to you!

Have a Happy Fourth of July!

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