The difference between a referral & an endorsement

By
Mortgage and Lending with Annie Mac Home Mortgage NMLS ID 19375

Some food for thought to share today....

 

I have been thinking about the difference between a referral & an endorsement recently.

 

We all refer our family, friends & clients to people who may be able to help them. (the doctor, lawyer, mechanic, contractor, etc) But a referral that is also an endorsement for that service provider is a higher level of action.

Think about it….I have a good number of agents who refer their clients to me for a new mortgage or pre-approval. I have several within that group who highly endorse my work to those clients, and that makes a difference.

 

There’s a big gap between this:

“Here’s business cards for several local lenders you can call to get pre-approved”

And this:

Please reach out for _______ because he is one of the best local lenders I have worked with. He will provide you with great service, competitive rates, and communication, and has years of experience.  I would feel comfortable with you getting your mortgage through him because I know we will close on time, and you will be happy.”

 

I got one of these endorsements from one of my partners today (I was copied on an email) and it made me feel great to read the confidence in and recognition of my work that was being conveyed to the prospective client. It served to remind me that hard work does indeed payoff and does not go un-noticed. I also know that a mutual respect between this person and myself has developed over years of working together, and because I know I am not just one of a handful of business cards provided to a client, but rather a valued partner in their business, I make sure to always make myself available to help no matter the time or how much I may already have on my plate.

 

Which would you prefer?:Call______ to list your home and maybe check with a few others” or “You should definitely consider using________ from _____ to sell your home, because he/she sold 3 homes on this street last year, I see his/her face everywhere, and I have used him/her myself in the past & loved it”.

 Trust & confidence needs to be earned, and not just over one deal, but over time. I want to provide all my referral partners with the very best I have to offer both them and their clients. We’re constantly trying to develop ways to add value to our relationships and when we are working with our referred clients, we try to be as supportive & complimentary of the person who sent the referral as possible to inspire confidence in the entire team.

 

I hope that when we all refer someone, we will take the time to explain why that person or service provider would be a good fit, or good choice for the client, and not leave it to a random outcome where we are detached & indifferent to the end result. Who you refer is a direct reflection back to you, so think about this, and see if it doesn’t have positive impact on your business, and help you improve results.

 

Thanks very much for reading, and please let me know how I may be able to help you have the best 2013 possible. I appreciate & value your referrals, and know that my business would not be what it is without the support of my loyal partners.

 Jeff Coon
Branch Manager
AnnieMac Home Mortgage

Bus: (732)938-2252 x303

Cell: (732)547-4651
Fax: (732)938-2493
jcoon@annie-mac.com

Do you know someone who needs a home loan? All referrals greatly appreciated!

NMLS ID#19375 Licensed by NJ Division of Banking & Insurance Over 25,000 hours of experience!

Comments (3)

Cooper Jacobs
Looking For A Seattle Realtor? COOPERJACOBS.COM - Seattle, WA
Real Estate Brokers - Seattle

Neat ideas here Jeff.

Good to see business is being sent your way because networking is certainly where it's at in our industry. There are so many people doing the same thing out there.

Well done on all the positive testimonials.

Feb 07, 2013 02:04 AM
Steven Cook
No Longer Processing Mortgages. - Tacoma, WA

Jeff -- excellent process for differentiating, and then seeing the results as you receive not only the referrals but the endorsements of your contacts.

Feb 08, 2013 02:01 AM
Anonymous
John Penacoli

your a joke Jeff what makes you think you are gods gift, you are nothing but a liar and a back stabbing ahole

Mar 07, 2013 08:19 PM
#3