For any mortgage business, it’s important to build referral relationships with real estate agents and past clients. And no matter the climate you live in during these winter months, this is a great time to devote extra time and effort into providing some TLC for these existing relationships, as well as cultivating new ones.
When looking to build your referral base, it’s wise to consider mutually beneficial partnerships. Yes, it’s important to work with agents and past clients, but don’t limit yourself. Evaluate the market you work in. Consider partnering with professionals in your area that struggling homeowners contact for help- financial planners, bankruptcy attorneys, and even divorce attorneys are all good prospects when looking for referral business.
When engaging with these professionals and pitching them your services for their clients, consider these tips for your introduction:
Position yourself as providing help to the professional, not (directly) to the client. Remember, this needs to be a mutually beneficial relationship, so what will they reap from working with you?
Speak to their pain. When you work with a homeowner, for example, you market yourself as someone who can help lower his or her monthly mortgage payments. Same concept applies here. If you are looking to work with a financial planner or attorney, what can your services do for them?
With any message you put out there, you must consider your audience. This introduction should be delivered differently than you would, say, a homeowner. By emphasizing clarity and persuasiveness, you will promote a level of trust with them. Attention grabbing stunts or slang in your writing won’t do the trick. Portray yourself as a professional from the very beginning.
And speaking of being professional…always act, speak and write professionally. Sometimes, being informal with a homeowner will help build their trust because you are ‘talking’ with them, not above them in their time of need. However, with attorneys and financial planners, all stages of communication should be carried out professionally.
Printed materials have better success than phone calls. If you have not tried you’re hand at mortgage marketing, or a direct mail campaign to help reach new or old clients 2014 could be the year for you to do so. Also building relationships with Attorneys and financial planners could be a good source for referrals however many are surrounded by gatekeepers. Most likely, an assistant or secretary will determine if you get to talk directly to your prospect on the phone. If you send a simple marketing postcard, you have a better chance of getting ‘in the door.’ Your postcard also may find a home on their desk with your website and contact information displayed nicely until they need it.
Emails work too. In our world of technology, we rely heavily on the aide of our smartphones. Attorneys, financial planners and the like, are always checking their phones. A text-only email may help to introduce you.
As with any referral arrangement, be sure that you follow all guidelines and disclosures set forth by HUD, and mind all mortgage law when doing business.
Titan List is a full service Advertising and Design agency specializing in Direct Mail, Mortgage Postcards, Search Engine Optimization and Website / Graphic Design. Established in 1998 Titan List has a team of highly qualified individuals with experience in the marketing trends that fit your business. Unlike other agencies that source their work out, Titan List & Mailing handles the entire campaign in-house. Looking for a special list of data for your business? We can customize any data list for your company.