3 Steps to Building a Robust Referral Network

In today’s volatile mortgage environment, loan originators must increase their referral sources if they want to generate enough business to succeed long-term. But, connecting with potential partners and borrowers is easier said than done with so many LOs competing in an already crowded marketplace.

Here’s what works:

Embrace social selling – Top originators understand the value of cultivating a strong personal brand on social media platforms. It’s the most powerful way to gain visibility and forge relationships with referral sources. Plus, it’s free!

Host educational events – LOs can dramatically expand their reach by conducting in-person or virtual events that provide valuable information to referral sources. Educating Realtors on new products or leadership development topics such as how to market themselves are a win-win for everyone involved.

Partner with non-traditional referral sources – While LOs typically receive the bulk of referrals from real estate agents, other professionals such as home builders, financial advisors, insurance agents and even wedding planners can be worth pursuing.

For additional details, check out this National Mortgage Professional magazine article, “Finding a Unique Referral Partner.