BNI Leads group…yea or nay?

Mortgage and Lending with Morgan Financial

As a mortgage professional, I am always looking for ways to market, network, and increase business in an economically sensible way.  I have many different referral relationships currently in place, and my business is fairly strong. 

Recently I was invited to a BNI meeting by a very successful realtor, and had a very pleasant experience.  The meeting was at 7am (argh!!) and had 25 or so attendees who seemed very eager to help each other grow their business.  Many referrals were [assed about at the meting, and if mothing else, there was a good positive vibe amongst the members.

My question is simple: do you have experience with these types of groups, and if so, what has the experience been? 

I am someone who needs proof before I commit to something.  I do nothing halfway, and once I am committed, I am fully involved.  Your feedback would be greatly appreciated.  Thank YOU!

Comments (2)

Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Joe - As a former BNI member, unfortunately, my experience was not a positive one.  It was early in my career (more than seven years ago) that I joined this group and after more than a year in the group, I had only received one referral that was a dud.

The biggest issue I had with that group was that almost all of the members were very new to their professions and they literally no little to no client database established.  Even though I passed on good referrals on a regular basis and was more than willing to give my fellow members a chance to prove themselves, none of them gave me the same courtesy.  Several of them were friendly with other LO's and would publicly (in other social events) give referrals to other people.

I eventually left that group and was asked to join another one and after visiting that group a few times, I discovered that most of the group had a very good relationship with the previous LO who had just left.  I never joined that group and over the years have been invited by a few other BNI groups to join their group and have declined all of them.

I'm not a big BNI fan but I most certainly see the benefit for those members who have experienced success with it.  If I were you, before joining the group, I would find out why the previous LO left.  That may tell you a lot.  Sorry for the long comment but you're doing the right thing by asking people for their experiences.

Jul 17, 2009 03:58 AM
Joe Harris
Morgan Financial - Melbourne, FL


thank you very much for your candid response.  You bring up a very good point that I will now investigate - why did the last LO leave?  I will be sure to follow up with that.  THank you again!

Jul 17, 2009 04:30 AM