Creating a Mortgage Referral-Based Business

May 13, 2021

Nothing makes a business boom more than a referral. Even if your most loyal customers consistently come back, there won’t be much growth to be had if you aren’t consistently bringing in more business.That’s why mortgage referrals can completely change your customer base, clientele, and even your profits. Today, we’re going to give you tips and tricks on how to create a mortgage referral-based business.

 Go Above and Beyond

 One of the best ways to get more referrals is by exceeding expectations. While your main priority is to provide home buyers with a mortgage, taking the extra steps to help them remember you will definitely increase the likelihood that your clients will refer you to their friends. By doing simple things like creating a house-warming gift basket, giving them a list of local shops and restaurants to explore, and connecting to clients and real estate agents through LinkedIn, you’re sure to create a rapport that they will tell their friends about.

 Communication is Key

 Another great way to increase the likelihood of referrals is by communicating thoroughly throughout the mortgage process. If you sneak hidden fees and charges into your services, your client’s friends will most likely hear about it. Instead, give information about all of the charges up front, and tell them the reason behind all of them. Ensuring clear communication will increase the satisfaction among new homeowners, and will increase your chances of having new customers in the future.

 Build a Community

 Lastly, building a community that knows and loves your work will increase your chances of new and steady business. Oftentimes, neighborhoods or cities will have different events such as block parties, carnivals, or barbecues. See what you can do to support these events and get your name out there. And, if you have a wide range of social media platforms, you’re likely to get a larger following on each. Even if no one in the community is looking to buy a house just yet, chances are that they will think of your name as soon as they are.

 Want to know even more ways to become a great loan officer? We have a variety of courses that will help you further your expertise. Get in touch with us today to learn more about what we offer.